Surveyors must be experienced in valuation of livestock ranch – ESV Oladiran

By Mashe Umaru Gwamna

An Estate Surveyor & Valuer (ESV) Ofi Oladiran said a Surveyor must be experienced in valuation of a livestock ranch.

Speaking yesterday in a chat with journalists in Abuja, Oladiran said Surveyors must be alive to the possibilities of national and international demand as well as local demand and the experience he brings to bear must include a knowledge of men and affairs, not merely of a series of mathematical calculations.

He said valuation requires the use of individual considered judgment; thus valuations are opinions rather than scientific determinations.

“No wonder, two valuers valuing the same property may not arrive at the same value. The value arrived at will depend on a number of factors, such as purpose of valuation, the parameters used, depth of research, the reliance put on data collected and analyzed, etc.

He said a brief outline of the process of making an appraisal or in preparing valuation report can be analyzed in five major stages.

He listed the stages to include; Identification of the problem, preliminary survey and valuation plan, data procurement, analysis valuation
and correlation of valuation.

“Valuers are very much familiar with valuation of land and buildings, plant and machinery, furniture and fittings, and to some extent crop, ranching is not, a very common agricultural activity in Nigeria and as such valuation instructions on them have not been a common occurrence. No wonder, the guidance note on Property Valuation produced by the Nigerian Institution of Estate Surveyor and Valuers was silent in this regard.

He said, constant handing of stock in the market and noting types, weight and prices will teach most people the rudiments of livestock valuation even if they do not possess natural flair.

In view of the aforesaid therefore. “It is important to have a thorough knowledge of the class of stock being valued as there is a world of difference between valuing.
In valuing livestock, it becomes imperative that the aims and objectives of the client have to be known. Cattle/Sheep would be required or kept for various purposes which include breeding, hide and skin, dairy or beef production. The valuation criteria would to a great extent vary depending on the need.

“It has been summarized by some writers that a livestock auctioneer, farmer, butcher, or dealer valuing beef cattle would take the following steps: Breed, conformation, condition, age and weight.”