An Estate Surveyor and Valuer ESV Karin Ngozi Nwaji of the Department of Resettlement and Compensation Federal Capital Development Authority (FCDA), Abuja, said there’s a huge hidden risk in property transactions between a professional Estate Surveyors and Quacks.
ESV Nwaji stated this yesterday in Abuja.
She explained that in recent years, Nigeria’s real estate sector has witnessed rapid growth, driven by urban expansion, population increase, and rising demand for housing and commercial properties.
She mentioned that Unfortunately, alongside this growth is the increasing presence of unqualified individuals commonly referred to as quack operating in property valuation, sales, leasing, and management. “Their activities pose serious risks to property owners, investors, financial institutions, and the general public”.
She explained that Property transactions are not merely about buying or selling land and buildings; they involve legal, financial, and technical considerations that require professional competence.
She reiterated that this is where the role of a qualified Estate Surveyor and Valuer becomes critical.
“ A professional Estate Surveyor and Valuer is a trained and licensed expert authorized to carry out property valuation, agency, property management, feasibility and viability studies, and advisory services.
“Such professionals are regulated by recognized bodies and are bound by ethical standards, professional guidelines, and legal responsibilities.
“ In contrast, quacks are individuals with little or no formal training who engage in real estate transactions for quick financial gain. They often operate without accountability, professional indemnity, or regulatory oversight”she said .
She stressed that many property owners and investors are attracted to quacks because they promise quick deals, lower fees, or exaggerated property values. However, the consequences can be severe.
One major risk is inaccurate property valuation. “Overvaluation can lead to failed mortgage applications, inflated asking prices, and prolonged vacancy periods, while undervaluation can cause significant financial loss to property owners. In compensation matters, especially where government acquisition is involved, inaccurate valuation may result in unfair compensation and prolonged disputes”.
She added that another common problem is fraud and title-related issues.
“Quacks often lack the technical knowledge to conduct proper title investigations or understand land documentation. “This has led many buyers into purchasing properties with defective titles, multiple ownership claims, or government encumbrances.
“For tenants and landlords, the use of unqualified agents frequently results in poor property management, disputes over rent, neglected maintenance, and loss of rental income”, she stated .
She noted that with increasing investment in real estate and rising land values in major Nigerian cities, the need for professionalism has never been greater.
“ Financial institutions rely heavily on valuation reports for mortgage lending and asset security. Government agencies depend on valuation advice for taxation, compensation, and infrastructure development. “When these valuations are handled by unqualified persons, the ripple effects can destabilize the entire property market”, she maintained.
She noted that professional estate surveyors and Valuers are trained to rely on market evidence, established valuation methods, and sound judgment. They are also accountable for their opinions and can be held liable for negligence or misconduct—an assurance the public does not get from quack
She advised that members of the public must take deliberate steps to protect their investments. “Before engaging any individual for valuation or property transactions, clients should verify their professional qualifications and registration status.
“Professional fees should not be the sole basis for decision-making; competence, integrity, and accountability matter far more.
Government and regulatory bodies must also intensify public awareness campaigns and enforce existing laws against illegal real estate practice.
She also urged professional associations to continue educating the public on the dangers of patronizing quacks and the benefits of using qualified practitioners.
She reaffirmed that Real estate remains one of the most valuable investment assets in Nigeria, but it is also one of the most vulnerable to abuse when handled by unqualified individuals. “Patronizing professional Estate Surveyors and Valuers is not a luxury—it is a necessity. “Ensuring professionalism in property transactions protects investments, promotes market stability, and supports sustainable urban development”, she said.
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