The Impact of the Activities of Quacks on the Practice of Real Estate Profession in Nigeria.
THE IMPACT OF THE ACTIVITIES OF QUACKS ON THE PRACTICE OF REAL ESTATE PROFESSION IN NIGERIA.
BY
OREAGBA .K. OMOTOKE
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE (HONS) IN ESTATE MANAGEMENT
DEPARTMENT OF ESTATE MANAGEMENT
JANUARY, 2011.
CHAPTER ONE
INTRODUCTION
1.1. Background to the Study
The notion of professionalism is based upon a practitioner in whatever vocational field to serve not only his client but also the society at large. This implies the need to maintain a high degree of ethical responsibility and conduct, because integrity must be the watch word for any profession.
Thus the attainment of professional status involves a discipline of study, a compilation of knowledge and a basis of trust coupled with practical experience. However, the more diversified the field of practice, the less likely it becomes for high professional codes and standards to be maintained and therefore estate agency in particular can present problems.
Agency can be referred to as the business of representing or providing a particular service for people or organizations while an agent is a person who acts on behalf of another with respect to a particular transaction, also an agent as somebody who officially represents somebody else in business or somebody who provides a particular service for another. On the other hand, Real Estate, in broad definition, refers to land and everything fixed permanently a part thereof, and the nature and extent of one's interest therein. In law, the word real, as it relates to property, means land as distinguished from personal property; and estate is defined as the interest one has in property.
Valuers, Appraisers and Estate Agents Act 1981 defined estate agency practice as acting or holding oneself out to the public as ready to act, for a commission, fee, reward or other consideration, as an agent in respect of the sale or other disposal of land and buildings and of any interest
BY
OREAGBA .K. OMOTOKE
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE (HONS) IN ESTATE MANAGEMENT
DEPARTMENT OF ESTATE MANAGEMENT
JANUARY, 2011.
CHAPTER ONE
INTRODUCTION
1.1. Background to the Study
The notion of professionalism is based upon a practitioner in whatever vocational field to serve not only his client but also the society at large. This implies the need to maintain a high degree of ethical responsibility and conduct, because integrity must be the watch word for any profession.
Thus the attainment of professional status involves a discipline of study, a compilation of knowledge and a basis of trust coupled with practical experience. However, the more diversified the field of practice, the less likely it becomes for high professional codes and standards to be maintained and therefore estate agency in particular can present problems.
Agency can be referred to as the business of representing or providing a particular service for people or organizations while an agent is a person who acts on behalf of another with respect to a particular transaction, also an agent as somebody who officially represents somebody else in business or somebody who provides a particular service for another. On the other hand, Real Estate, in broad definition, refers to land and everything fixed permanently a part thereof, and the nature and extent of one's interest therein. In law, the word real, as it relates to property, means land as distinguished from personal property; and estate is defined as the interest one has in property.
Valuers, Appraisers and Estate Agents Act 1981 defined estate agency practice as acting or holding oneself out to the public as ready to act, for a commission, fee, reward or other consideration, as an agent in respect of the sale or other disposal of land and buildings and of any interest