HISTORY OF REAL ESTATE MANAGEMENT PRACTICE IN NIGERIA

The term real estate doesn’t mean land and landed properties alone, it also connotes everything that is above in the sky, below the ground and on the earth’s surface. 

The history of real estate management practice in Nigeria can be traced back to medieval period, long before advent of the British colonialization era. This is so because our forefathers were estate managers who took care of their hamlets, land and farm holdings for the overall benefit of their wellbeing, wives and children who later inherit these estates. 

Prior to real estate management becoming a profession in Nigeria, the real estate management has been generally practiced in one way or another until it became a recognized discipline that is studied in various tertiary institutions in Nigeria.

The write-up below is an excerpt from a book written by Bello, I.K, and Olajide, S.E (2003), titled “A Handbook of Estate Management (Principles and Practice)”.

The excerpt titled “Evolution of The Profession In Nigeria”, talked about the historical origin of estate management discipline from the ancient times to the industrialization period in Europe. The motive for the establishment of the first professional association in UK (Land Surveyor Club) (1843), which was later renamed the Surveyor Institution (1868) and Royal Institution of Chartered Surveyors (RICS) (1946) . 

The excerpt also gave account on how the real estate management profession was brought into Nigeria by a Briton named F.G Gleave, a chartered surveyor who established the first real estate surveying and valuation firm in the country.

EVOLUTION OF THE PROFESSION IN NIGERIA: Excerpt from “A Handbook of Estate Management (Principles and Practice)” By Bello, I.K, and Olajide, S.E (2003)

The origin of Estate Management profession dates back to the beginning of time. At creation, God established the Garden of Eden and put Adam and Eve in charge of it (Gen: 2;15). Thus, Adam and Eve were the first Estate Managers since Eden was the first estate known to man.

However, the evolution of estate management as a distinct and recognized profession is a Middle Ages development rooted to the feudal societies of Europe. The lords of the Manor of Medieval Europe owned exclusive and sometimes far-flung land holdings. Usually, only a small portion of each of these estates was held and exploited by the direct land owners. The rest, which constituted the bulk of these holdings, was given out to tenants and serfs to use, either for a fee or under some Feudal arrangements. On the account of the size and disparate locations of these holdings, each land owners appointed stewards or agents to oversee the estates for them.

At the beginning, what was required of these stewards was that they were men of honour who could be trusted in fiduciary relationship. This explains the sobriquet, “Noble” which is attached to the profession of Estate Surveying and Valuation.

As time went on and the business of managing these estates rose in sophistication, the requirements for the job increased. 

First, it became necessary that the practitioners should also be lettered in order to keep pace with the demands of ever increasing record keeping. Next, a knowledge of book keeping was required to accommodate the accounting requirement involved.

Later on, the ability to tackle various proprietary and commercial relations involved in these estates introduced surveying, law, commerce, economics and statistics into the profession.

The modern foundations of what is now known variously as estate management, estate surveying and valuation, or land economics was laid in the mid-18^th century. 

In the wake of the Industrial Revolution, a major re-organisation took place in most of Europe. In the UK especially, this resulted in a massive population shift from rural to urban areas and a subsequent redistribution of land rights and property interest.

At the dawn of the 19^th century, the practitioners of the various skills comprising estate management banded themselves into trade groups or guilds. Later on, there were definite moves to form a distinct professional group to embrace the various classifications. The most serious moves began in London on June 27, 1843 with the formation of the Land Surveyor Club.

These were in fits and starts until the establishment of the Surveyor Institution on March 23 1868, which metamorphosed into the Royal Institution of Chartered Surveyors, RICS, in 1946.

The profession of estate surveying and valuation followed in the wake of colonialism in Nigeria, with F.G Gleave, an expatriate, being the first known chartered surveyors to set up a general practice or estate surveying and valuation firm in the country about 1955. Hitherto, there were few chartered surveyors in private and public employment in Nigeria.

ABOUT ME

I am  a Higher National Diploma (HND) holder of Estate Management from the prestigious Yaba College of Technology, Yaba, Lagos state, Nigeria. I  also possess a Professional Practice Certificate in Estate Surveying and Valuation from the Nigerian Institution of Estate Surveyors and Valuers (NIESV).

I am also  the principal consultant of Aakient Consultants Ltd, a highly progressive and consolidated property and construction project management company, which is committed to providing the highest level of professionalism and services in meeting clients’ real estate needs.

Feel free to contact me  through; aakientconsultants@gmail.com