Know Who Registered Estate Surveyors And Valuers Are, And Their Roles As Estate Agents

 

TUESDAY REAL ESTATE GIST WITH JEC

Advocacy Edition

"KNOW WHO REGISTERED ESTATE SURVEYORS AND VALUERS ARE, AND THEIR ROLES AS ESTATE AGENTS"  



By ESV John O. Eniwaiye, Principal Partner, John Eniwaiye & Co.

Estate Surveyors, Valuer & Auctioneers


Housing is not just about 4 walls. It’s about security, documentation, and value. But who you deal with when renting, buying, or selling determines whether you gain an asset or inherit a problem.

Today let’s talk about who is qualified to handle your property transaction.


 1. WHO IS A REGISTERED ESTATE SURVEYOR AND VALUER [RSV]?

An RSV (Registered Estate Surveyor and Valuer) is a professional who is:

1. Trained: Holds a degree in Estate Management from a recognized university

2. Qualified: Passed the professional exams of NIESV - Nigerian Institution of Estate Surveyors and Valuers  

3. Licensed: Registered and issued a practicing license annually by ESVARBON - Estate Surveyors and Valuers Registration Board of Nigeria

ESVARBON is the only body established by Decree 24 of 1975, now CAP E13 LFN 2007, to regulate the profession in Nigeria.

Job Specification & Roles of an RSV as an Estate Agent:

1. Property Management: Managing properties for landlords, collecting rent, maintenance, and accountability

2. Agency/Brokerage: Marketing, letting, and sale of properties with proper documentation

3. Valuation: Determining the open market value of properties for sale, rent, mortgage, insurance, taxation

4. Feasibility & Viability Appraisal: Advising investors if a property project will make money

5. Property Development: Advising on best use of land

6. Due Diligence: Conducting title searches, verifying documents at Land Registry/Deeds

7. Expert Witness: Appearing in court as a professional witness on property matters

Boundaries: An RSV can sign tenancy agreements, receipts, and management documents. Their stamp and signature is recognized by banks, courts, and government.

 2. WHO IS AN UNREGISTERED ESTATE AGENT?

This is anyone who introduces tenants to landlords or buyers to sellers without NIESV qualification and ESVARBON license. Commonly called "agent", "caretaker", "omolomo".

Their Limited Roles:

1. Introduction only: They can only point you to a property

2. No legal capacity: Cannot prepare, sign, or witness legal tenancy agreements

3. No valuation right: Cannot issue a valuation report for bank or court

4. No management authority: Cannot manage properties or collect rent on behalf of others professionally, except where such agent is engaged with a letter of authority based on their years of experience in the real estate sector.


How to Differentiate:

RSV - Registered: License, has ESVARBON license. has registered office address, letter head, ossue printed rent receipt/professional fee receipt, issue refundable caution deposit (RCD) payment evidence, service/tenancy agreement with seal, members accountability is regulated by NIESV & ESVARBON, can be disciplined, knows land law, valuation, property law amongst others.


Unregistered Agent: No licence, no registration professional registration number, no letterhead in most cases, isually operates from street corners, no office, handwritten notice/notes, no seal, no regulatory body, disappears after payment/misappropriation, knows only "house is available"

 3. AREAS TO WATCH OUT FOR WHEN DEALING WITH UNREGISTERED AGENTS

As an advocate for safe housing in Lokoja, please watch these red flags:

1. "No Receipt, Just Transfer": They collect agency fee, caution fee, legal fee but give no official receipt. You have no proof.

2. "Sign this paper": They bring a 1-page agreement with no governor's consent clause, no witness, no address of property. It won’t stand in court.

3. "Double Dealing": Collecting money from 3 tenants for one flat. RSVs are bound by ethics and can lose their license for this.

4. "No Verification": They won’t show you title documents or take you for land registry search. You may be paying for "omo-onile" land.

5. "Inflated Charges": Adding fake items: "waste bin fee", "community levy", "NEPA connection" without government backing.

6. "Disappears After Payment": When there’s a problem with water, light, or landlord, they are unreachable.


 JEC ADVOCACY MESSAGE

Your rent in Lokoja is already high. Don’t lose more money to the wrong hands.

Before you pay 1 naira:

1. Ask: "Are you a Registered Estate Surveyor and Valuer? What is your ESVARBON number?"

2. Demand: Company letterhead, office address, and official receipt

3. Insist: That agreements be prepared and vetted by an RSV

4. Verify: Title documents at Ministry of Lands

Remember: Cheap is expensive when you lose your deposit or get ejected wrongly.

As RSVs, our duty under ESVARBON is to ensure order, transparency, and professionalism in the property market.

Let’s sanitize real estate together.


This is TUESDAY REAL ESTATE GIST WITH JEC  

For inquiries, contact ESV John O. Eniwaiye via esvjohnoeniwaiye@gmail.com 

Know your agent. Protect your money.



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