EKO HOT BLOG reports Adeniyi Tinubu, a Global Real Estate Advisor and the National Publicity Secretary of the Association of Estate Agents in Nigeria (AEAN), addressed the media in a press conference highlighting the urgency for legislative intervention to regulate Real Estate Brokerage in Nigeria. He emphasized the negative impact of non-professionals on the sector, leading to substandard practices and financial losses for unsuspecting citizens.
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Tinubu shed light on the birth of the Association of Estate Agents in Nigeria, initiated by the Nigerian Institution of Estate Surveyors and Valuers. The primary goal is to rectify the declining reputation of Real Estate Brokerage caused by unqualified practitioners. The lack of regulation has allowed for practices like overpricing and letting substandard structures to flourish.
Advocating for Legislative Activism, Tinubu stressed the need for uniformity in Real Estate Brokerage across Nigeria. He pointed out that the absence of regulation has led to practices that harm both professionals and, more critically, the common citizens who bear the brunt of substandard services.
Recognizing the collaborative efforts with the constituted authority, Tinubu called upon the Legislature and the Federal Ministry for Works and Housing to address these concerns seriously. The AEAN expressed its readiness to work with the government to implement effective policies for Real Estate Brokerage.
Tinubu highlighted the Association’s commitment to global partnerships for National development. Through a bilateral agreement with the National Association of Realtors in the United States of America (NAR), AEAN aims to position Nigeria globally and foster an environment conducive to Real Estate Investment.
The AEAN Conference 2024, scheduled from April 9th to April 12th at the prestigious Eko Hotel, aims to build enduring partnerships for a better future. This year’s conference, in collaboration with NAR, promises a highly specialized training in the Certified International Property Specialist (CIPS) designation. The training, facilitated by NAR, provides access to an international market, international buyers, and the opportunity to assist clients worldwide.
The conference will feature international partners from NAR in a Trade Mission, facility tours showcasing Nigeria’s investment potential, and specialized training to equip participants with tools and knowledge for global real estate success. Foreign facilitators and speakers will further educate Nigerian Real Estate brokers on industry trends and international best practices.
AEAN’s commitment to training and retraining Real Estate Brokers will be showcased during the conference. The Proptech session will explore technology’s role in Real Estate, encouraging sustainability and fostering innovation in the sector. The conference will also feature an ‘Afrobeats Gala Night’ to expose international delegates to Nigerian culture and heritage.
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In conclusion, Tinubu sought the support of concerned government ministries, departments, agencies, and stakeholders in the Real Estate Ecosystem. The AEAN Conference 2024 aims to be a catalyst for strategic change and policies to elevate Real Estate Brokerage in Nigeria.
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