ANALYSING THE IMPLICATIONS OF QUACKERY ACTIVITIES ON REAL ESTATE AGENCY PRACTICE IN LAGOS, NIGERIA
TOLUWALASE G. OLUWOLE AND ABAYOMI S. IBISOLA, Volume 6 Issue 1, 2022 Pages 11-25, Published: 2023-06-23
Abstract
The study examined the factors responsible for the incursion of quack and their attendant effects on real estate agency practices in Lagos metropolis. The study adopted questionnaire survey approach to obtain responses from 152(75.62%) out of 201 administered questionnaire to estate surveying and valuation firms practising in Lagos metropolis. The study deployed statistical tools such as mean score model to identify the prominent influencing factors and OLS regression model to capture the effects. The result of the mean score showed the strong influencing factors of quacks incursion such as need to make ends meet due to unemployment, looseness of rules and regulations governing the practice and allure of the practice in terms of monetary returns. The regression analysis showed the significant effects of causes of influx quacks to include need to make ends meet due to unemployment, looseness of rules and regulations governing the practice, personal interest in the practice and ideology on the related nature of their profession to the estate agency practice on real estate agency. While the hampering effect of some causes such as need to make ends meet due to unemployment, failure of incorporating and training quacks on the ethics of the profession but use for selfish motives, ideology on the related nature of their profession to the estate agency practice and incomprehensive training and practice awarded to professionals in all areas of the practice were significant felt on the performance of estate surveying and valuation firms in Lags metropolis. The study therefore concluded that the increasing trend in unemployment rate and weaken institutional and regulatory frame work have strengthened the quack invasion into the real estate agency practice, hence suggests the need to give urgent attention to laws, provisions and policies governing agency practice in the country and effectively address the problem of unemployment and the challenges its poised on professionalism in the country.