Theoretical and Conceptual Models of Critical Success Factors and Key Performance Indicators for Real Estate Professional Business in Lagos, Nigeria

James Ogunbiyi and Timothy Tunde Oladokun

AfRES from African Real Estate Society (AfRES)

Abstract: Purpose: This paper aimed to equip real estate practitioners in developing countries with critical success factors (CSFs) and key performance indicators (KPIs) for keeping track of their activities to develop sustainable practice. It will model CSF and KPIs that can be effectively used to run an enduring real estate practice.Design/Methodology/Approach: The paper reviewed and analysed previous related papers in respect of the subject in other industries both locally and in advanced countries as a guide to real estate practitioners in developing countries. The paper identified the various theories of business management that suggest how business performance is measured. The paper continued to identify CSFs and kPIs that are used in other industries to model CSFs and kPIs for use in real estate industry.Findings: The practice of corporate real estate management is still relatively new to African countries like Nigeria. The implication is the collapse of many real estate firms with its untold negative effect on the profession. Understanding CSFs and KPIs in real estate business is a major pathway to developing sustainable real estate practice.Originality/Value: The paper is a useful guide to real estate managers in developing countries towards employing CSFs and KPIs to increase the overall performance of their companies.

Keywords: Business Performance; critical success factors; CSFs; Key performance Indicators; Kpis; Real Estate Business (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-09-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:afr:wpaper:2021-007

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