EXAMINATION OF CLIENT INFLUENCE ON RESIDENTIAL AND COMMERCIAL PROPERTY VALUATION IN ONITSHA, ANAMBRA STATE, NIGERIA

Abstract

The study examined client influence on valuation of residential and commercial properties in Onitsha metropolis, Anambra State, Nigeria. In carrying out the study questionnaires were administered to professional Estate Surveyors and Valuers practicing within the study area in order to obtain relevant data. Ninety-six (96) completed questionnaires were retrieved, and the data collected presented in frequency and percent tables, while validation of hypotheses were analyzed using the Chi-square test method. The study resolved that there are significant levels of influence by clients on valuers during valuation of their residential and commercial properties in Onitsha which has resulted in some effects such as not being able realize such values during actual property transactions, variations in valuation opinions by different valuers on same property, etc. These however, can be curbed through strict enforcement and monitoring of adherence to the uniform valuation standard of the Estate Surveying and Valuation professional body by valuers.

Keywords: Valuation, Client influence and pressure, Residential and Commercial properties