International Journal of Civil Engineering, Construction and Estate Management (IJCECEM)

EA Journals

Effect of Compliance with Valuation Standards and Awareness on Property Value Certification among Estate Surveying Firms in Abuja, Nigeria

Abstract

The quest for reliability and consistency in real estate valuations services prompted the use of valuation standards. The extent of compliance with this valuations standards by property appraisers is a matter due for worthy consideration. This study aims to examine the effect awareness of valuation standards and compliance has on property value certification. The target population comprises registered Estate Surveying firms who are in private practice in Abuja, Nigeria. The sampling frame is 171 registered firm. The sample size of 118 was adopted. The reliability of the study data was measured using Cronbach’s Alpha test which showed that valuers’ awareness and compliance to valuation standards, and property value certification variables with 5, 3, and 7 measuring constructs respectively, were reliable with value above 0.70. The findings of the study show that awareness has a mean score of 3.4392 which is high with the 5-point likert scale, likewise, appraisers’ level of compliance is high, with a mean score of 3.7017, also property value certification showed a mean value of 3.9766. In examining the effect of valuation awareness and compliance on Property value certification multiple regression analysis was employed and the variables explained 57.4% of the model; which implies that awareness and compliance were responsible for 57.4% of the variation in property value certification. The effect of awareness and compliance on the certification of property values; the ANOVA analysis showed that awareness and compliance has a significant positive effect on property value certification, while awareness to valuation standards has a 26.9% effect, compliance with standards has a higher effect of 57.6%. Therefore the study concludes that while awareness and compliance both have significant positive effect on property value certification, compliance to valuation standards has a greater effect on real estate property value certification.

Keywords: Compliance, awareness, property valuation, valuation standards, value certification

cc logo

This work by European American Journals is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 Unported License

 

Recent Publications

Email ID: editor.ijcecem@ea-journals.org
Impact Factor: 8.01
Print ISSN: 2055-6578
Online ISSN: 2055-6586
DOI: https://doi.org/10.37745/ijcecem.14

Author Guidelines
Submit Papers
Review Status

 

Scroll to Top

Don't miss any Call For Paper update from EA Journals

Fill up the form below and get notified everytime we call for new submissions for our journals.