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Factors Influencing Quality of Valuation Being Produced by Estate Surveying and Valuation Firms in Lagos Metropolis, Nigeria

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  • Anthony Oluyinka Kayode

    (Department of Estate Management, Lead City University, Ibadan, Nigeria)

  • Igho Fayomi

    (Department of Estate Management, Lead City University, Ibadan, Nigeria)

Abstract

This study examined the quality of valuation reports produced by estate surveying and valuation firms in Lagos Metropolis, Nigeria, aiming to identify key factors affecting professional standards. Using a survey design, 211 firms were randomly selected from 447 registered with ESVARBON, with 179 valid responses received, an 84.83% response rate. Descriptive statistics and exploratory factor analysis (EFA) revealed that valuation report quality is influenced by eight core components. Ethical practice ranked highest (mean = 4.20), followed by professional competence (4.14), objectivity and independence (4.13), and adherence to professional standards (4.13). These components explained 60.14% of the total variance. Clarity and transparency had the highest communality score (0.730), underscoring its importance in report credibility. The KMO value was 0.656, and Bartlett’s Test of Sphericity was significant (χ² = 453.793, df = 190, p

Suggested Citation

  • Anthony Oluyinka Kayode & Igho Fayomi, 2025. "Factors Influencing Quality of Valuation Being Produced by Estate Surveying and Valuation Firms in Lagos Metropolis, Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3s), pages 6430-6441, August.
    • Handle: RePEc:bcp:journl:v:9:y:2025:i:3s:p:6430-6441
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