The Effect of Motivating Factors Influencing the Use of ICT on Adoption of the New Technology by the Real Estate Professionals in Abuja, Nigeria (Published)
Recently, real estate professionals are now faced with new strategies and more effective ways of managing and storing information for faster and more effective management. The aim of the paper is to explore the Effect of motivating factors influencing the use of ICT on adoption of the new technology by the real estate professionals, with a view to understanding how new technologies influence the modern real estate professional practice in Abuja Nigeria. The paper determined the motivating factors influencing the use of ICT in modern real estate profession in the Abuja. The study used quantitative design and data were collected through questionnaire survey from 260 real estate professionals, the study adopted convenient simple random sampling technique and SPSS software version 22 was used for data analysis and the results were presented in tables. The study observed that the motivating factors influencing the use of ICT in modern real estate profession were enhanced quality of customer services, improved decision making, the competitor’s pressure, increased productivity of staff and reduce overall cost ranked first to fifth respectively. The paper concluded that top three motivating factors enhanced customer service, improved decision making, and increased staff productivity, all focus on internal improvements within the real estate firm. This concludes that firms are primarily motivated by the benefits of ICT for their own operations rather than external pressures. Motivating factors influencing the use of ICT in modern real estate profession has a large effect size on the adoption of new technologies in the real estate profession. This implies that increasing motivating factors influencing the use of ICT in modern real estate profession can significantly promote the adoption of new tools and technologies by professionals. Real estate professionals should invest in training and education on advanced ICT tools and applications relevant to the real estate industry, such as virtual tours, property management software, and data analytics platforms. The paper recommended that the policymakers and industry should Provide access to affordable technology solutions and promote collaboration between technological companies and real estate firms.
Keywords: Adoption, ICT, Real Estate, motivating factors, new technology, professionals, use
Estate Surveying, Valuation, Education and Practice in Anambra State: Challenges Faced by Female Professional Practitioners (Published)
Professional practice especially in Estate Surveying and Valuation industry no doubt has its challenges and there is an increasing quest to survive by both the male and female practitioners in Nigeria. However, it appears the females are finding the practice of the profession more challenging than their male counterparts. This study however looked at the challenges faced by female Estate Surveyors and Valuers (ESV) in the public and private sectors of the industry in Anambra State. Primary data were collected and analysed using simple tables and percentages. Challenges identified include; difficulty in balancing work and family lives, the inability to attend to assignments outside the town at short notice and lack of marital support. The study recommended that efforts should be made to encourage more women, attract them into practice, also into educational sector, give more opportunities to them for research and more importantly discourage sexual harassment.
Keywords: Challenges, Female, Real Estate, estate surveyors and valuer, professional practice
Key competitive indicators (KCIs) for real estate project developers (REPDs) in Anambra State (Published)
Anambra State has witnessed increase in the number of new real estate projects and developers as well. While there are obvious evidence as to the increasing number of new entrants into the real estate development industry, there seems to be no facts or study as to the indicators for competiveness in the area, hence the need to study the Key competitive Indicators (KCIs) of the real estate project developers. It is also important that the Real Estate Project Developers (REPDs) understand (KCIs), this will help or assist them in formulating the effective competition strategies. These strategies will also help clients in selection of the best project managers. This Study however identified a number of (KCIs) as it pertains to the indigenous real estate project developers and managers; they were analysed using Relative significant index (RSI). The finding is provided a valuable insight to the competitiveness in real estate development industry.
Keywords: Competitiveness, Real Estate, competiveness indicators, project developers.
Human Resources Management Practices and Real Estate Project Management Success in Awka South L.G.A., Anambra State. (Published)
This research focused on Human Resources Practices on real estate Projects management. The population studied included a sample of 92 respondents drawn from relevant professionals. Structured questionnaires were designed and Human Resources Practices were studied individually and collectively and ranked accordingly based on their importance. Respondents were required to scale the practices based on 5 points likert scale. Relative importance index was used for ranking of individual practices. For the hypotheses proposed, data collected were subjected to non-parametric data equivalent of Analysis of Variance (ANOVA) which is the Kruskal-Wallis test statistic; this is because the observed data did not meet the assumption of ANOVA (Normality and Constant Variance). Hence, the Kruskal-Wallis test statistics was employed to assess whether samples varied significantly between variables. The result indicated that the success of real estate projects is dependent on quality of Human Resources practices in Anambra State. It was recommended that Stakeholders in real estate project management especially Project managers should as a matter of importance ensure that the top ranked individual practices i.e. the human resources practices are adhered to strictly. The research concluded that all the stages of the real estate project should be well monitored to ensure compliance especially as it concerns HR practices.
Keywords: Human Resources Practices, Project Management, Project Success, Real Estate
Real Estate Investment Trusts (Reits) And Mortgage Backed Securities (Mbs) As Emerging Trends For Financing Real Estate Development In The Nigerian Capital Market (Published)
Before now, real estate was regarded as a very cumbersome investment media to venture into. This was largely due to the huge financial outlay required for real property projects, which were often difficult to raise and as such, only the few privileged elite invested in real estate. However, of recent, real estate investment is now securitized (that is, sold as securities in the capital market), thus making it easier for the average investor to engage in. This paper studies the Real Estate Investment Trust (REIT) and Mortgage Backed Securities (MBS) as new channels of harnessing finance for real estate development and the effectiveness of securitization in the Nigerian real estate sector.
Keywords: Capital market, Finance, Investment, Mortgage Backed Securities, Real Estate, Real Estate Investment Trust, and Securitization.
REAL ESTATE INVESTMENT Trusts (Reits) AND MORTGAGE BACKED SECURITIES (MBS) AS EMERGING TRENDS FOR FINANCING REAL ESTATE DEVELOPMENT IN THE NIGERIAN CAPITAL MARKET (Published)
Before now, real estate was regarded as a very cumbersome investment media to venture into. This was largely due to the huge financial outlay required for real property projects, which were often difficult to raise and as such, only the few privileged elite invested in real estate. However, of recent, real estate investment is now securitized (that is, sold as securities in the capital market), thus making it easier for the average investor to engage in. This paper studies the Real Estate Investment Trust (REIT) and Mortgage Backed Securities (MBS) as new channels of harnessing finance for real estate development and the effectiveness of securitization in the Nigerian real estate sector.
Keywords: Capital market, Finance, Investment, Mortgage Backed Securities, Real Estate, Real Estate Investment Trust, and Securitization.
RESIDENTIAL USER SATISFACTION OF REAL ESTATE HOUSING IN GHANA (Published)
Housing is considered as the largest consumption and investment item of a person’s lifetime and as result housing satisfaction is a key component of their quality. Like all cities developing countries Accra is faced with a huge lack of adequate shelter for her people. This has brought in its trail the upsurge of real estate development in Accra with lack of effective controls in addressing the needs of the occupants. This has potentially resulted in several complains of substandard housing, poor planning and construction and poor management services. The objective of the research was to examine the determinants of residential satisfaction and to investigate the level of satisfaction/dissatisfaction of the residents in these gated communities in terms of the building features, the neighbourhood and the management practices. Qualitative and quantitative methods were used in the gathering and analysis of data from two selected locations in Accra. Structured questionnaire was used to gather the data from the residents, with the 5-point Likert scale of measurement .Stratified random sampling was used to select sample for the estates and questionnaire. Again a Habitability Index formula was used in assessing the satisfaction of residents. The study revealed that respondent’s satisfaction levels were generally high, with varied dissatisfaction levels in; water supply, neighbourhood facilities, sanitation and security. It thus recommends amongst others that: the built environment professionals should collaborate with the metropolitan authorities in exerting strict but adaptable control measures in meeting occupants needs, and regular satisfaction surveys should be carried out by Real Estate Developers and the Government to get occupants’ feedback in enhancing future developments.
Keywords: Gated Communities, Housing, Real Estate, Residential Satisfaction