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Client influence on valuation: valuers' motives to succumb

Author

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  • Chukwuma C. Nwuba
  • Uche S. Egwuatu
  • Babatunde M. Salawu

Abstract

Client influence has become a major concern in property valuation. Focusing on mortgage valuations, the study investigated the motives for Nigerian valuers to succumb to client influence from their own perception. A combination of cross-sectional survey and focus group research designs was adopted. A questionnaire in a 5-point Likert format was used to collect data from a sample of valuation firms and weighted mean was used to rank the variables. Descriptive statistics and one-sample t -test were employed for data analysis. The results showed that corruption and indiscipline in the society, valuers' fear of losing their clients and greed among valuers, respectively, are the strongest motives for valuers to succumb to client influence. The hypothesis tests confirmed the existence of these and other motives. The study concluded that the motives for valuers to succumb to client influence revolve around the business environment, local economic situation, ethical issues, enforcement of discipline and valuers' experience. However, there is no justification for valuers to compromise their independence and yield to client pressure to bias valuation. The findings raise questions about the quality of valuation practice in Nigeria, particularly the reliability of valuation outcomes, the credibility of valuation reports and the integrity of valuers.

Suggested Citation

  • Chukwuma C. Nwuba & Uche S. Egwuatu & Babatunde M. Salawu, 2015. "Client influence on valuation: valuers' motives to succumb," Journal of Property Research, Taylor & Francis Journals, vol. 32(2), pages 147-172, June.
    • Handle: RePEc:taf:jpropr:v:32:y:2015:i:2:p:147-172
    DOI: 10.1080/09599916.2015.1005117
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    Cited by:

    1. Agnieszka Małkowska & Małgorzata Uhruska & Mateusz Tomal, 2019. "Age and Experience versus Susceptibility to Client Pressure among Property Valuation Professionals—Implications for Rethinking Institutional Framework," Sustainability, MDPI, vol. 11(23), pages 1-23, November.
    2. Neil Crosby & Steven Devaney & Colin Lizieri & Patrick McAllister, 2018. "Can Institutional Investors Bias Real Estate Portfolio Appraisals? Evidence from the Market Downturn," Journal of Business Ethics, Springer, vol. 147(3), pages 651-667, February.
    3. Akshita Singh & Shailendra Kumar & Utkarsh Goel & Amar Johri, 2023. "Behavioural biases in real estate investment: a literature review and future research agenda," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-17, December.
    4. Irene Cheloti & Manya Mooya, 2021. "Valuation Problems in Developing Countries: A New Perspective," Land, MDPI, vol. 10(12), pages 1-20, December.
    5. Ogunbiyi, James O. & Adeleke, Folake & Oladimeji, Dare, 2024. "Ethical Delimitation of Client Satisfaction, Client Sophistication and Client Influence in Property Valuation Practice in Nigeria," OSF Preprints 8k43a, Center for Open Science.

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