scholarly journals Adequacy of core knowledge and soft skills in the performance of professional employees of real estate firms in Nigeria

2017 ◽  
Vol 35 (2) ◽  
pp. 132-149 ◽  
Author(s):  
Sunday Olarinre Oladokun ◽  
Job Taiwo Gbadegesin
Keyword(s):  
Real Estate ◽  
Business Performance ◽  
Soft Skills ◽  
Core Knowledge ◽  
Content Type ◽  
Adequate Knowledge ◽  
Inadequate Knowledge ◽  
Professional Employees ◽  
Real Estate Education ◽  
Estate Agency

Purpose Real estate professionals are a vital resource to the property firms and the industry at large. Employees’ skills, knowledge and competence contribute in great measure to organization’s business performance. The purpose of this paper is to examine the adequacy of core knowledge and soft skills possessed by professional employees within the Nigerian real estate practicing firms. It also assesses the performance of the employees and establishes the correlation among the soft skills possessed by employees. Design/methodology/approach Data for this study were elicited through the administration of questionnaires on principal partners/branch managers (the employers) of the practicing estate surveying and valuation firms in Lagos metropolis. Data collected were analyzed using descriptive statistics, one-sample t-test and correlation analysis. Findings The result indicates that employees of estate firms in Nigeria demonstrate adequate knowledge in ten out of 21 core areas of real estate practice, while real estate agency has the highest mean, and inadequate knowledge in six others with least mean score in environmental impact assessment. The study also revealed that employees possess good listening and communication skills but are deficient in courteousness and writing skill, among others. It was also found that real estate employees were performing the best in inspection functions but below average in report writing and handling of transaction. The study also established a significant relationship among all the soft skills except communication skill and courteousness. Research limitations/implications Further study that looks at the performance of real estate graduates working in other sectors/organizations other than estate companies is required to establish their competence level in global employment market. Further study is also needed to cover the views of the employees in Nigerian market as this study focuses on the views of the employers. Originality/value This study provides an important feedback for the policy makers in the design/review of curriculum for real estate education towards enhancing employability of the graduates. This study also serves as the research blueprint in giving attention to assessment of soft skills among real estate employees in Nigerian real estate industry.

Factors influencing real estate graduates soft skill gap in Nigeria

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Timothy Oluwafemi Ayodele ◽  
Oluseyi Joshua Adegoke ◽  
Kahilu Kajimo-Shakantu ◽  
Olaitan Olaoye
Keyword(s):  
Real Estate ◽  
Soft Skills ◽  
Primary Data ◽  
Soft Skill ◽  
Content Type ◽  
High Expectations ◽  
Business Negotiation ◽  
Factors Influencing ◽  
Skill Gaps ◽  
Major Property

PurposeThe purpose of this study is to evaluate the soft skill gap of graduate employees, as well as the factors influencing the skill gaps of real estate graduates in the employment of real estate firms in Nigeria.Design/methodology/approachPrimary data were employed for the study. Close-ended questionnaire served on real estate employers in the two major property markets of Nigeria: Lagos and Abuja. From a total of 343 questionnaires administered, 172 (59.7%) questionnaires were retrieved. While data from the graduate employees were obtained via a web-based survey sent out to a total of 558 graduates, 119 (21.33%) responses were received. Descriptive and inferential statistical techniques were employed in the data analysis.FindingsThe findings showed that employers had high expectations for soft skillsets relating to responsibility, administrative, listening and communication skills. These have respective mean scores of 6.38, 6.33, 6.31 and 6.31 on a seven point scale. However, the results revealed significant skill gaps with skills such as logical thinking, business negotiation, responsibility and marketing. Further, the analysis revealed that factors influencing the skill gap, in decreasing order of influence, are training/professional mentors/remuneration, personal preferences/industry characteristics and curriculum/faculties.Practical implicationsReal estate graduate soft skills are investigated to uncover areas of emphasis and skill gaps. These outcomes could serve as important feedbacks for stakeholders towards improving real estate teaching and curriculum. The findings could also assist real estate graduates to know employers areas of emphasis in relation to graduate employability skills.Originality/valueExtant studies have reiterated and evaluated the soft skills gaps based on the perceptions of employers, faculties and institutions of higher learning. However, there is the need to investigate the perception of graduate employees, being the recipient and major stakeholders in the training process.

DEMATEL method of analysing the factors influencing the decision to adopt virtual reality technology by real estate firms in Lagos property market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ayodele Samuel Adegoke ◽  
Timothy Tunde Oladokun ◽  
Timothy Oluwafemi Ayodele ◽  
Samson Efuwape Agbato ◽  
Ahmed Ademola Jinadu
Keyword(s):  
Virtual Reality ◽  
Real Estate ◽  
Social Influence ◽  
Property Market ◽  
Content Type ◽  
Performance Expectancy ◽  
Factors Influencing ◽  
Effort Expectancy ◽  
Facilitating Conditions ◽  
Estate Agency

PurposeThe study analysed the factors influencing real estate firms' (REFs) decision to adopt virtual reality (VR) technology using the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method. This was done to enhance the practice of real estate agency in Nigeria.Design/methodology/approachData were elicited from eight real estate experts. These experts were heads of the agency department of firms that had been in existence for a minimum of five years in the Lagos property market. The data analysed in this study were collected with the aid of a questionnaire.FindingsThe result revealed that use intention was influenced by performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value and UB. Also, facilitating conditions, habit and use intention did not influence use behaviour. Overall, six constructs, which include price value (Ri − Cj value = 0.1284), use behaviour (Ri − Cj value = 0.0666), social influence (Ri − Cj value = 0.0583), facilitating conditions (Ri − Cj value = 0.0323), performance expectancy (Ri − Cj value = 0.0196) and effort expectancy (Ri − Cj value = 0.0116), were significant predictors of the factors influencing the decision of REFs to adopt VR. Of these constructs, the Ri − Cj values indicated that price value had the highest causative influence.Practical implicationsThe result of this study will bring REFs to the consciousness of the factors that could affect their adoption of VR technology. This study will also assist the Nigerian Institution of Estate Surveyors and Valuers in appropriately enlightening REFs on the integration of VR technology into the agency practice especially at this time when all health protocols and guidelines need to be observed to help flatten the curve of the Covid-19 pandemic.Originality/valueThis study is the first to have an insight into the analysis of the factors influencing REFs' decision to adopt VR technology using the DEMATEL method.

Corporate real estate strategies: the Nigerian experience

2015 ◽  
Vol 17 (4) ◽  
pp. 244-259
Author(s):  
Timothy Tunde Oladokun ◽  
Bioye Tajudeen Aluko
Keyword(s):  
Real Estate ◽  
Business Performance ◽  
Stock Exchange ◽  
Primary Data ◽  
Content Type ◽  
The Real Estate ◽  
Corporate Objective ◽  
Corporate Real Estate ◽  
Public Organisations ◽  
Real Estate Management

Purpose – The paper aims to contribute to the empirically scarce literature on corporate real estate management (CREM) strategies by providing meaningful insights on the different strategies likely to contribute to business performance in a developing country like Nigeria. Design/methodology/approach – Primary data collected using questionnaire administered on property managers of the 105 business organisations in the list of registered companies with the Nigerian Stock Exchange were used for the study. The questionnaire elicited information on the real estate holding pattern and the adopted strategies for acquiring and managing real estate assets. The data collected were analysed using percentages, mean and proportion method. Findings – The study established that 41 per cent of the organisations were public organisations. Others were private companies (31 per cent), government departments (18 per cent) and multi-nationals (10 per cent). The result indicated that 31.8 per cent had no CREM strategy. Strategies used were: cost reduction (18.75 per cent), facilitate production (20.17 per cent), flexibility (15.5 per cent), promote human resource objectives (10.86 per cent), promote the marketing message (4.33 per cent), promote sales and selling delivery (18.67 per cent), facilitate managerial process and knowledge (7.5 per cent) and capture real estate value (6.5 per cent). The study concluded that CREM is a useful tool that the organisations can make effective use of to improve their performance. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on business performance in Nigeria. There is the need for corporations to reappraise their real estate strategy and realign it with their corporate objective. There is also the need for Nigerian Institution of Estate Surveyors and Valuers to train its members for contemporary business requirements. Originality/value – The paper is a useful guide to corporate real estate managers in developing countries towards using real estate strategies to minimize the overall cost of their companies.

The impact of information and communication technology on real estate agency in Lagos Metropolis, Nigeria

2018 ◽  
Vol 36 (2) ◽  
pp. 173-185 ◽  
Author(s):  
Theophilus Olugbenga Babatunde ◽  
Cyril Ayodele Ajayi
Keyword(s):  
Social Media ◽  
Real Estate ◽  
Information And Communication Technology ◽  
Communication Technology ◽  
Relevant Information ◽  
Research Approach ◽  
Content Type ◽  
Information And Communication ◽  
Estate Agency ◽  
The Impact

Purpose The purpose of this paper is to evaluate the effect of information and communication technology (ICT) on real estate agency transactions with a view to determine its influence on the performance of estate agents. Design/methodology/approach A research approach in which questionnaire was administered to elicit relevant information from 220 practicing Estate Surveyors and Valuers surveyed in the course of the study. Data collected were analysed using mean ranking, relative influence index and analysis of variance. Findings The results showed that the use of ICT impacted positively on real estate agency transactions by promoting company’s brand thereby increasing the level of patronage. Consequently, the increased level of patronage signifies an increase in the level of income of the agents. Research limitations/implications The study was limited to social media applications otherwise referred to as ICT, which are used in real estate agency transactions. Further study on other ICT media and their effects on more areas of real estate practice in the developing economy may be required. Originality/value This paper is one of the few works on the impact of ICT on real estate agency transactions with particular reference to the social media networking especially in an emerging economy. Most of the previous studies conducted on ICT and real estate focussed only on internet use with respect to real estate agents and practices.

Blue-collar workers, career success and innovation in manufacturing

2019 ◽  
Vol 24 (6) ◽  
pp. 529-544 ◽  
Author(s):  
Valentina Cillo ◽  
Alexeis Garcia-Perez ◽  
Manlio Del Giudice ◽  
Francesca Vicentini
Keyword(s):  
Career Success ◽  
Structural Equation ◽  
Business Performance ◽  
Dynamic Capabilities ◽  
Positive Relationship ◽  
Soft Skills ◽  
Blue Collar ◽  
High Tech ◽  
Content Type ◽  
Blue Collar Workers

Purpose The purpose of this paper is to contribute to the understanding of the relationship between employees’ knowledge and organisational performance. Design/methodology/approach Using a structural equation model, feedback received from 237 blue-collar workers from multinational high-tech manufacturing enterprises in Italy was studied to understand, from a dynamic capabilities perspective, the role of soft skills in the career success of production workers. Findings The results of the analysis indicate a positive relationship between workers’ commitment to develop their soft skills and their career success, as well as a positive relationship between an organisation’s approach to both knowledge exploration and knowledge exploitation and the prospects for career success of blue-collar workers. Research limitations/implications The research has both theoretical and practical implications, as any efforts by researchers and practitioners to find effective ways to motivate the workforce will be likely to lead to a positive attitude towards learning and, ultimately, to improved business performance. Originality/value The originality of the paper is the focus on the personality and interpersonal attributes of workforce – blue-collar workers – and how they can affect business performance in highly innovative contexts.

New perspectives in the Italian property market: the funeral sector

2019 ◽  
Vol 37 (4) ◽  
pp. 579-596
Author(s):  
Marzia Morena ◽  
Tommaso Truppi ◽  
Verdiana Ierecitano ◽  
Gianluca Lorusso
Keyword(s):  
Real Estate ◽  
Cultural Change ◽  
National Level ◽  
Specific Property ◽  
Small Sample ◽  
Point Of View ◽  
Property Market ◽  
Market Strategy ◽  
Content Type ◽  
Adequate Knowledge

Purpose The purpose of this paper is to investigate a particular type of property market, that of funeral homes, of which little is known, despite the fact that it is an expanding market, reflecting a social and cultural change in Italy. Design/methodology/approach A qualitative analysis of the funeral property market was carried out. Information and data were collected from funeral companies, with reference to their market strategy, and from institutional investors, in order to gauge their knowledge of that specific sector and their willingness to invest in this specific property type. The instruments used were questionnaires, telephone interviews and on-site visits. Findings The results of this study suggest that Italian funeral companies identified a new property market, responding to the demands of a changing social context, especially in Northern Italy. Limited experience in the management of this asset and the lack of a clear and uniform legislative regulation at the national level appear to be among the main difficulties. From the investors’ point of view, the main problems in investing in this property were the lack of adequate knowledge in the sector and moral qualms about the specific type of assets. Research limitations/implications The small sample restricts generalization beyond the companies that participated in the research. Furthermore, the research only focused on the private sector related to niche market strategy and property investments. Practical implications The paper could raise awareness of a specific and not well-known property market among the real estate operators. Originality/value The originality of the analysis lies in investigating a relevant phenomenon from the social point of view that has been little or not at all addressed from the point of view of real estate, particularly in Italy.

Dispute resolution in corporate multi-tenanted property management: a case study

2014 ◽  
Vol 16 (1) ◽  
pp. 22-32 ◽  
Author(s):  
Timothy Tunde Oladokun ◽  
Bioye Tajudeen Aluko
Keyword(s):  
Real Estate ◽  
Dispute Resolution ◽  
Study Groups ◽  
Content Type ◽  
Emerging Trends ◽  
Regulatory Bodies ◽  
Proportion Method ◽  
Estate Management ◽  
Real Estate Education

Purpose – This study aims to evaluate the practice of dispute resolution in Lagos International Trade Fair Complex, Lagos State. Design/methodology/approach – Questionnaires were distributed to two study groups of 400 users/occupiers and officials of the managing agents. A total of 100 were returned and found useable for the study. The study adopted the descriptive method of percentages, mean and proportion method for analysis. Findings – The study found that there often existed disputes and when it occurs, the common reaction is for them to alert other users of the building. Other findings are that the methods of dispute resolution adopted are arbitration, mediation, conciliation and litigation and that the most commonly adopted method is arbitration. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness of the findings. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on real estate investment and practice in Nigeria. There is the need to incorporate behavioural knowledge in the curriculum of estate management and valuation to prepare graduates for efficient practice and the continuous re-training of practitioners to prevent future declining real estate profession. Originality/value – The paper documents the requisite information needed for developing contemporary policy on real estate education in the country. It also serves as a guide for real estate practitioners and regulatory bodies for developing contemporary real estate practice to meet emerging trends in CREM practice and for relevance in the practice of CREM as an evolving sub-discipline of estate management.

Anchor effects in appraisals: do information and theoretical knowledge matter?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peter Palm ◽  
Magnus Andersson
Keyword(s):  
Critical Thinking ◽  
Real Estate ◽  
Cognitive Capacity ◽  
Theoretical Knowledge ◽  
Content Type ◽  
Before And After ◽  
Financial Behaviour ◽  
Real Estate Education ◽  
The Impact ◽  
Practical Implications

Purpose The purpose of this study is to evaluate the impact of theoretical knowledge related to financial behaviour and especially anchor effects. Design/methodology/approach The study design is based upon an experiment divided into two parts, before and after the development of the course curriculum for the course introducing behavioural finance for undergraduate real estate students. Findings The study concludes that the anchor effect is persistent also after introducing theoretical knowledge regarding financial behaviour and anchor effects. To conclude the results, in this study, indicates that the appraisal of properties are dependent on the individual’s cognitive capacity to mitigate anchor effects. There are epistemological assumptions underlying the belief in the individuals’ capacity to handle anchor effects that might provide biased appraisals. These assumptions need to be carefully tested and treated to increase the accuracy of property appraisals. Practical implications The study result also highlights the possibility that current literature in valuation, and learning activities, does not emphases and stimulate readers to critical thinking. This paper would, therefore, propose also other real estate education programmes to be aware of the potential lack of critical thinking among the students. Originality/value It provides an insight regarding how appraisal of properties is dependent on the individual’s cognitive capacity to mitigate anchor effects.

Is the real estate profession under threat? Assessing the effect of the involvement of non-professionals in Nigeria real estate agency service provision

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alirat Olayinka Agboola ◽  
Oluwasola Rebecca Jasper ◽  
Amamata Larai Zakari
Keyword(s):  
Real Estate ◽  
Professional Practice ◽  
Service Provision ◽  
Rank Correlation ◽  
The Body ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Estate Agency ◽  
Agency Service

PurposeThis paper examines the effects of non-professionals' involvements in real estate service provision on real estate agency practice in Ibadan Nigeria, in order to provide information that could enhance real estate agency practice in the country.Design/methodology/approachData were gathered through questionnaire administration on a total sample of 232 respondents comprising 82 estate surveyors and valuers, 100 non-professional estate agents and 25 real estate agency service consumers each from the respective clients of the two groups. A respondent-driven sampling (RDS) technique was adopted for data collection and was particularly useful in accessing non-professionals with characteristically less identifiable organizational structure. Data were analysed using mean scores on a Likert type scale while Spearman rank correlation was used to compare and establish if significant differences exist between the perceptions of clients of professionals and non-professionals on the services provided.FindingsThis study revealed that while the involvement of non-professionals in real estate agency practice deprives professionals of opportunities for legitimate earnings and is attributed to incidences of fraudulent transactions in the market, non-professionals often also serve as facilitators of transactions for the professionals. Hence, there seems to be a symbiotic relationship between the two groups and also a tacit validation of the involvement of the former by the latter.Originality/valueThis work contributes to and extends the body of knowledge on non-professionals' involvement in real estate professional practice by providing insights into the effects of activities of individuals who are not members of the real estate profession on real estate agency professional practice, particularly in the context of an emergent and less transparent market.

Analysing the criteria for measuring the determinants of virtual reality technology adoption in real estate agency practice in Lagos: a DEMATEL method

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ayodele Samuel Adegoke ◽  
Timothy Tunde Oladokun ◽  
Timothy Oluwafemi Ayodele ◽  
Samson Efuwape Agbato ◽  
Ahmed Demola Jinadu ◽  
...  
Keyword(s):  
Virtual Reality ◽  
Technology Adoption ◽  
Real Estate ◽  
Ease Of Use ◽  
Relative Advantage ◽  
Important Criterion ◽  
Perceived Ease Of Use ◽  
Content Type ◽  
Global Standards ◽  
Estate Agency

PurposeThis study aims to analyse the criteria used in measuring the determinants of the adoption of virtual reality (VR) technology in real estate agency practice in Lagos, with a view to providing information with which the practice can be enhanced.Design/methodology/approachThe data for the study were elicited using a questionnaire which was administered to eight real estate firms (REFs). The firms were those that have been operating in Lagos for at least five years, and the data collected were analysed using the DEMATEL method.FindingsThe findings revealed that perceived utility and relative advantage were the most important criteria for determining REFs' performance expectancy with VR technology. The two most important criteria to measure effort expectancy were “perceived ease of use” and complexity. “Subjective norms” was the most important criterion for measuring social influence, while “perceived behavioural control” was the most important criterion to measure facilitating conditions. Under “price value”, output quality was the only significant criterion. Finally, the frequency of use, the actual number of use and the amount of time spent utilising the technology were significant for measuring the REFs' use behaviour.Practical implicationsThe study offers insights into the criteria that can assist REFs in integrating VR technology into real estate agency practice. The results are also helpful to the Nigerian real estate professional bodies to organise workshop programmes for REFs on the use of VR technology and other disruptive technologies. The results will also serve as a guide for REFs to gain a competitive advantage in this trying time of pandemic and help them measure up to global standards and the expectations of their clients.Originality/valueBefore this study, efforts have not been made to study the criteria for measuring the determinants of VR technology adoption in the Nigerian real estate agency practice.

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