THEME: TOWARDS INTERNATIONAL BEST PRACTICE: THE EFFECTS
OF STANDARDIZATION.
DATE:
6TH APRIL, 2016.
VENUE:
ENVIRONMENTAL FACULTY AUDITORIUM.
TOPIC: TOWARDS INTERNATIONAL BEST
PRACTICE THE EFFECT OF STANDARDIZATION
AN APPLICATION TO ESTATE AGENCY
BY:Ms. EGHOVE AJIRI EGWOLOR.
Download pdf here
·
INTRODUCTION
·
DEFINITION (ESTATE AGENCY)
·
ISSUES OF ESTATE AGENCY
·
STANDARDIZATION (DEFINITION)
·
APPLICATION OF STANDARDIZATION TO
ATTAIN INTERNATIONAL BEST PRACTICE
·
EFFECTS
·
CONCLUSION
INTRODUCTION
•
Internationally recognized standards
have over the years helped the global community have a better service
experience.
•
Today we look at the resultant effect of these
standards, the application to real estate agency the journey towards achieving
international best practice.
WHAT IS ESTATE AGENCY?
•
Real estate agency was introduced by
the British during the colonial era.
•
Estate agency grew from the old
auctioneers who were cattlemen attracted by the exciting prospects of selling
large estates.
•
The Estate Agents Act of 1979 was
enacted in England.
•
In the 1970s and early 1980s, the
Malaysian Parliament enacted the legislation
known as the Valuers, Appraisers and Estate Agents Act 1981.
ESTATE AGENCY CONUNDRUM.
The
Real Estate Agent of the 21st Century should perceive and seize new profit
opportunities by creating new product market combinations in real estate
practice in the following areas: Real estate marketing, by using pictorial,
emailing and web designs /paging advertisement strategies in addition to the
traditional strategies; property management portfolio that is driven by
database management systems for easy information retrievals; environment-friendly
office spaces that maximizes use-efficiency; use of powerful PowerPoint
presentations to client-investors; use of powerful PowerPoint presentations to
client-investors; transaction closures supported with CCTV, digital
photography, and smart storage systems; Cost and value data banks that are
updated periodically; real estate education that are supported with modern
teaching aids, mentoring, and exposure to international networking; empirical
real estate research into contemporary real estate issues; and direct
involvement in residential, commercial, and industrial investment in real estate
development.
STANDARDIZATION
In most
countries today there are increasing expectations from ordinary citizens,
business leaders and Civil Society that Organizations will establish and
deliver higher standards of ethicality and integrity in Service delivery.
This is to
foster good service relationship and increase the trust of people in quality
service delivery.
IMPLEMENTING EFFECTIVE ETHIC STANDARD
Specific strategies which should be
considered include:
Ø
effective laws which require estate
agencies to give reasons for their official decisions, (for example: a Freedom
of Information law);
Ø
Management approaches which
encourage all estate agents to deal positively with corruption and unethical
practice when they encounter it.
AN APPLICATION TO ESTATE AGENCY
•
‘whistleblower’ protection law to
protect appropriate 'public interest disclosures’ of wrongdoing Estate Agents;
•
ethics audits to identify risks to
the integrity of the most important processes (for example financial
management, tendering, recruitment and promotion, dismissal and discipline);
•
New Human Resource Management
strategies (which link, for example, ethical performance with entry and
advancement, and ethical ‘under-performance’ with disciplinary processes),
merit based promotion and recruitment, antidiscrimination protections;
•
Training and development in the
content and rationale of Ethics Codes, the application of ethical management
principles, the proper use of official power, and the requirements of
professional responsibility, and effective external and internal complaint and
redress procedures.
TOWARDS INTERNATIONAL BEST PRACTICE
Most modern Civil Service Ethics
laws, and Codes of Ethics for civil servants and public officials, endorse the
following minimum set of principles:
Ø
Serving the public interest
Ø
Transparency
Ø
Integrity
Ø
legitimacy
Ø
Fairness
Ø
Responsiveness
Ø
Efficiency and Effectiveness.
Ø
Estate agent Discipline and
management practices must be objective, fair, and reasonable.
Ø
Managers are expected to be trained
to able to deal with such matters as providing adverse assessments on
performance, enforcing required work processes, requiring punctuality, and
dealing with employee grievances, effectively and fairly, to ensure that the
efficiency of the workplace is not compromised unnecessarily.
CONCLUSION
Nigeria lags behind countries like
Ghana, Thailand and New Zealand in ease of registering property.
•
In Ghana it requires just five procedures, 34
days and 1.3 percent of a property’s value to register any property.
•
In New Zealand, property could be
registered online in two days at a cost of 0.1 percent of the property’s value;
•
Thailand, where registering property
requires just one step, less than a day and 1 percent of property value. It
requires 13 procedures, an average of 80days and about 29% of the property
value.
Nigeria is one of the world’s most difficult
places to register property.
There must be uniform format for
engagement of services to secure a purchaser, or tenant; to secure a property
for purchase or leasing. Flyers and inspection forms need to be standardized
with explanatory notes attached to each of the forms. Registered Estate
Surveyors and Valuers (RSVs) should become registered estate agents
automatically. All estate agency firms should be registered by the Board as
sole proprietorship, partnerships, or body corporate.
In the case of body corporate, all
the directors must be registered estate agents in accordance with standards to
be set by ESVARBON under a newly amended law. ESVARBON should forge alliances
with the real estate organizations, and other countries identified to have
solved the problems of real estate quackery.
#RESUMMIT 2016
No comments :
Post a Comment