Examination of Estate Marketing Practices in Ikeja, Lagos, Nigeria
Estate marketing is an aspect of the profession of Estate Surveying and Valuation in Nigeria. Previous studies on estate marketing identified that there are challenges affecting estate marketing and the resultant effect on these challenges affects the credibility of the profession of Estate Surveying and Valuation in Nigeria. This necessitates the need to examine the practice of estate marketing in Nigeria. This study examined estate marketing practice among estate surveyors and valuers in Ikeja, Lagos Nigeria. The sample size for the study is the 64 registered Estate Surveying and Valuation firms in the study area. Data gathered were analyzed using descriptive statistics and 5-point likert ordinal scale. Findings from the study revealed that the use of brochure or bulletin is the most common estate marketing method in the study area. Also, it was revealed from the study that the use of press is the most cost effective method of estate marketing in the study area. The study identified the various challenges of estate marketing. However, collection of double professional fees is the most prevalent challenge of estate marketing in the study area. Finally, aggressive marketing which leads to unethical practices is the most prevalent mitigating measures adopted by Estate Surveyors and Valuers in the study area. Recommendations were made on how to review the ethical regulations guiding the practice of Estate Surveying and Valuation which will consequently improve marketing in the study area.
Akomolede, K (2006) Estate Agency Practice in Nigeria. Lagos: Bamboo books
Anyanwu A (1993) Dimensions of marketing, Novelty Industrial Enterprise Ltd, Enugu.
Araloyin, F.M and Olatoye, O (2011) An analysis of real estate consumers’ perception of service quality in estate agency practice in Lagos metropolis, Nigeria. Journal of Economics and International Finance 3(3), pp 139-145, ISSN 2006-9812
Bishop, P. and Megicks P. (2002) Competitive strategy and firm size in the estate agency industry, Journal of Small Business and Enterprise Development, 9(2), pp.150 – 161
Oni, A.O (2009) Real Estate Marketing and Code of Conduct in Nigeria. Lagos: Rehoboth Consulting. ISBN: 978-978-903-904-3, 222-232
Oni, A.O (2010) Challenges Facing Estate Surveying and Valuation Profession on the Global Setting. Paper delivered at the Education Seminar Organized by the African Real Estate Society (West Africa Group) held at the Centre for Learning Resources, Covenant University, Ota, Nigeria on the 26th to 28th July, 2010.
Oni, A.O and Adebayo, M. A (2012) Challenges Facing Sustainable Real Estate Marketing and Practices in Emerging Economy: Case Study of Nigeria, International Journal of Marketing Studies, 4(1), pp 58-67, ISSN 1918-719X E-ISSN 1918-7203
Iroham, C.O, Oluwunmi, A.O, Ayedun, C.A and Oloyede, S.A (2011) An Investigation of the Efficiency in Nigeria Real Estate Agency Practice. Mediterranean Journal of Social Sciences, 2(2), pp 184 – 193, ISSN 2039 – 2117.
Kersnar, S (1996) NetSuccess: How real estate agents use the internet. Sebastopel, C.A.: O’Reilly Media
Kotler, P (1994) Marketing management: Analysis, planning, implementation and control. Englewood Cliffs: Prentice-Hall, Inc
Kotler, P. (1999), Kotler on Marketing: How to Create, Win,and Dominate Markets, Free Press, New York, NY.
Kotler, P. (2003), Marketing Insights from A to Z: 80 Concepts Every Manager Needs to Know, John Wiley and Sons, New York, NY.
Ogedengbe, P.S (2016) A study of the marketing strategies of Estate Surveying Firms in Lagos,
Nigeria. Academic Journal of Interdisciplinary Studies, MCSER Publishing, Rome-Italy, 5(1), ISSN 2281-3993
Olakunori, O.K. and Ejionueme, N.G (1997) Introduction to marketing. Amazing Grace Publishers, Enugu
Sani, K.S and Gbadegesin, J.T (2015) A survey of an important attributes for marketing real estate developments in metropolitan Ibadan property market, Nigeria. European Journal of Business and Social Science, 4(3), pp 25-40, ISSN 2235-767X.
Sheth, J.N. and Sisodia, R. (2010), The 4As of Marketing, John Wiley and Sons, New York, NY.
How to Cite
Copyright of articles that appear in International Journal of Built Environment and Sustainability belongs exclusively to Penerbit Universiti Teknologi Malaysia (Penerbit UTM Press). This copyright covers the rights to reproduce the article, including reprints, electronic reproductions or any other reproductions of similar nature.
Authors who publish with this journal agree to the following terms:
- This Journal applies Creative Commons Licenses of CC-BY-NC-SA
- Authors retain copyright and grant the journal right of publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).