Client influence on valuation: valuers' motives to succumb

Chukwuma C. Nwuba, Uche S. Egwuatu and Babatunde M. Salawu

Journal of Property Research, 2015, vol. 32, issue 2, 147-172

Abstract: Client influence has become a major concern in property valuation. Focusing on mortgage valuations, the study investigated the motives for Nigerian valuers to succumb to client influence from their own perception. A combination of cross-sectional survey and focus group research designs was adopted. A questionnaire in a 5-point Likert format was used to collect data from a sample of valuation firms and weighted mean was used to rank the variables. Descriptive statistics and one-sample t -test were employed for data analysis. The results showed that corruption and indiscipline in the society, valuers' fear of losing their clients and greed among valuers, respectively, are the strongest motives for valuers to succumb to client influence. The hypothesis tests confirmed the existence of these and other motives. The study concluded that the motives for valuers to succumb to client influence revolve around the business environment, local economic situation, ethical issues, enforcement of discipline and valuers' experience. However, there is no justification for valuers to compromise their independence and yield to client pressure to bias valuation. The findings raise questions about the quality of valuation practice in Nigeria, particularly the reliability of valuation outcomes, the credibility of valuation reports and the integrity of valuers.

Date: 2015
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Citations: View citations in EconPapers (6)

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DOI: 10.1080/09599916.2015.1005117

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