ASSESSMENT OF THE APPLICATION OF INFORMATION ......application and real estate practice in the study...

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ASSESSMENT OF THE APPLICATION OF INFORMATION AND COMMUNICATION

TECHNOLOGY IN REAL ESTATE PRACTICE (A CASE STUDY OF LAGOS METROPOLIS)

BY

HALIM HENRY CHIEDU

A DISSERTATION SUBMITTED TO THE DEPARTMENT OF ESTATE MANAGEMENT

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS OF SCIENCE (M.Sc) IN ESTATE

MANAGEMENT

UNIVERSITY OF NIGERIA ENUGU CAMPUS

SEPTEMBER, 2010.

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TITLE PAGE

ASSESSMENT OF THE APPLICATION OF INFORMATION AND COMMUNICATION TECHNOLOGY

IN REAL ESTATE PRACTICE (A CASE STUDY OF LAGOS METROPOLIS)

BY

HALIM HENRY CHIEDU PG/M.Sc/04/38102

A DISSERTATION SUBMITTED TO THE DEPARTMENT OF ESTATE MANAGEMENT

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS OF SCIENCE (M.Sc) IN ESTATE

MANAGEMENT

SUPERVISOR: PROF J.U. OGBUEFI

SEPTEMBER, 2010.

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APPROVAL

This dissertation has been approved by the School of Postgraduate Studies,

University of Nigeria, in partial fulfillment of the requirements for the award

of the Degree of Masters of Science in Estate Management.

____________________ ____________________ SUPERVISOR HEAD OF DEPARTMENT

____________________ ____________________ EXTERNAL EXAMINER DEAN OF FACULTY

_____________________________________________ DEAN. SCHOOL OF POSTGRADUATE STUDIES

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CERTIFICATION

This work embodied in this dissertation is original and has not been

submitted in part or full for any diploma or degree of this or any other

University. All observed errors of omission or commission are entirely mine.

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DEDICATION

This work is dedicated to my parents with much affection and gratitude for

bringing magic and inspiration to my young life and also to the Almighty

God for His infinite mercies and protection throughout the pursuit of my

M.Sc. programme.

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ACKNOWLEDGEMENT

In the process of writing this dissertation I have received generous

help, encouragement and guidance from lecturers, friends, and colleagues I

remain sincerely grateful.

A huge thanks to my project supervisor, Professor J.U. Ogbuefi, a

man of infinite patience and limitless understanding, who worked closely

with me to ensure the success of this work.

I am greatly indebted to all my friends, uncles, aunts, nieces, brothers-

in-law, my lovely wife, and my entire extended family both home and

abroad for their support throughout the time. Thank you for being there

when I needed you most. God bless you all.

Finally and most importantly to God, who is God indeed and never

fails. To whom, I say may Honour and Praises be ascribed to your Name,

forever. Amen.

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ABSTRACT

This study aimed at assessing the application of information and communication technology (ICT) in real estate practice in Nigeria, a case study of Lagos metropolis. It also considered critical issues and trends in information and communication technology which impacts profoundly in real estate practice, and how the resources of ICT can be effectively harnessed to improve the profession. The study adopted survey method for collecting data. Random sampling technique was used, and a sample size of 160 respondents was drawn from the study population. The questionnaires were administered to practitioners both private and government agencies. Interviews, primary and secondary data were also used. A total of 140 respondents completed and returned the questionnaires representing 87.5% of the distribution. Tables were used for data presentation, and chi-square (x2) used to test the hypotheses. The result of the study reveals that ICT application has helped in expanding and facilitating the development of contemporary practice of real estate in Nigeria. The result of chi-square test (x2 = 24) indicated a significant relationship (P<0.05) between the application of ICT and real estate practice in the study area. The study also showed that the trends in ICT application has enhanced the growth and development of real estate practice. The result of chi-square test (x2 = 28) indicated a significant relationship (P<0.05) between the trend of lCT application and real estate practice in the study area. More so, the study reveals low adherence in the application of ICT within real estate sector in Nigeria. The result of chi-square test (X2 = 52.4) indicated a significant relationship (P<0.05) between low adherence of ICT within real estate sector in Nigeria. The result further shows that ICT resources can be effectively harnessed to improve real estate practice by mainstreaming a robust ICT programme in estate management curriculum in higher institution/in real estate practice. The study recommends the creation of more awareness of ICT packages by mainstreaming a robust ICT programmes in such a manner that students and practitioners can grasp and apply it. Continuous professional development (C.P.G) effort should be channeled towards ICT as a matter of urgency, including deadlines for compliance.

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TABLE OF CONTENT

Title page i

Approval ii

Certification iii

Dedication iv

Acknowledgment v

Abstract vi

Table of content vii-viii

List of Tables ix-x

Chapter One:

1.0 Introduction 1

1.1 Background of the Study 1

1.2 Statement of the Problem 4

1.3 Aims and Objectives 5

1.4 Research Questions 6

1.5 Statement of Research Hypothesis 6

1.6 Significance of the Study 7

1.7 Limitation of Study 8

1.8 Scope of Study 9

1.9 Definition of Terms 9

Chapter Two: Literature Review

2.0 Introduction 11

2.1 Concept of Real Estate Practice 11

2.2 Information and communication Technology 14

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2.3 Impact of Information and communication

Technology in Real Estate Practice 16

2.4 Summary 38

Chapter Three: Research Methodology

3.0 Introduction 40

3.1 Research Design 40

3.2 Population of Study 41

3.3 Sources of Data Collection 41

3.3.1 Primary Source 41

3.3.2 Secondary Source 42

3.4 Sampling and Sampling Techniques 42

3.5 Instrumentation and Administration of Instrument 43

3.6 Validity of Instruments 43

3.7 Reliability of Instrument 44

3.8 Method of Data Analysis 44

Chapter Four: Presentation and Analysis of Data

4.0 Introductions 46

4.1 Analysis of Characteristics of Respondents 46

4.2 Data Presentation 48

4.3 Testing of Hypothesis 51

Chapter Five: summary, Conclusion and Recommendations

5.0 Introduction 60

5.1 Summary 60

5.2 Conclusion 64

5.3 Recommendations 67

References 72

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LIST OF TABLES

4.0 Distribution and Collection of Questionnaires 46

4.1 Number of Questionnaires Distributed and Returned 46

4.1.2 Position in the Organization 47

4.1.3 Personal Data (Background Information) 47

4.1.4 Age Distribution of Benchmarked Firms 48

4.1.5 Does the Application of Information and communication

Technology in Real Estate have effect on the Contemporary

Practice of Real Estate. 49

4.1.6 Do the Trends in Information and Communication

Technology Application in Real Estate Practice

have Impact on the Contemporary Practice of Real Estate 49

4.1.7 How can Information and Communication

Technology Resources be Effectively Harnessed to Improve

Real Estate Practice. 50

4.1.8 What is the level of Information and Communication

Technology Adherence in the Contemporary Practice

of Real Estate 51

4.1.9 Computation of Expected Frequency (The Effect of

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ICT Application in Real Estate Practice) 52

4.2.1 Computation of Pearson Chi-square (x2)

(Firms with Limited ICT Usage) 53


(Firms with Significant ICT Usage) 53

4.2.3 Computation of Expected Frequency

(The Trends in ICT Application in Real Estate Practice) 55





4.2.6 Computation of Expected Frequency

(The Level of ICT Adherence in Real Estate Practice) 57





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CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Our society is a complex structure of people and institution that

interact in a multitude of ways. The social and technological revolutions that

alter this structure are no less complex. Long ago, we had the Ice Age, and

Neolithic time or period. We later move into the Agriculture age and the

Renaissance period. In the recent time, the society has moved into yet

another age that has brought a far reaching change in human history. It is

called Information and Communication Technology age.

The simple truth today, is that no profession can effectively succeed in

solving her 21st century development challenges, unless the professional

visions, aspiration, mission and strategies are fundamentally anchored in the

realm of knowledge creation, and strategically driven by information and

communication technology (ICT).

Information and Communication Technology (ICT) has enhanced real

estate practice in Nigeria. A simple example is the use of mobile phones for

communication via text messages which has helped to improve

communication in the course of everyday assignments. Field staff can make

immediate contact with their office of the principal partner when issues arise

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while out in the field in the past, such staff would have had to return to base

to deal with such issues. The use of computers and the internet has also

made it possible for firms to operate several branches apart from their Head

offices with more ease than previously was the case. Professional reports

may be vetted online and the exchange of documented information has been

greatly enhanced. ICT are perfect tools for working with information and

can handle and process large amounts of information for various purposes

which would otherwise be difficult to manage manually. It can organise

information very efficiently with all content properly identified and indexed

making it possible to find whatever is required easily. In terms of speed,

computers can perform in minutes, tasks that would take the average human

being years to complete. Computers are quite accurate because they are

designed to receive information and process such information using a pre-

determined sequence stored in a programme thus maintaining a high level of

accuracy using the' same data repeatedly. Land Information System (LIS) is

a tool for legal, administrative and economic decision making. It is designed

specifically to create, visualize, analyse report and publish land-based data

such as parcel information, zoning, land use, ownership and general property

Information. LIS, on the other hand, may contain additional and useful

information. The input of physical information such as soils, hydrogeology

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and rainfall and human or socio-economic information such as rateable

value, communications and utilities results in a system that offers surveyors

and decision makers the ability to inventory, monitor and plan more

efficiently and cost-effectively. Such an holistic approach supports the

management of both human and physical resources at all real estate levels.

The realization of this ICT innovation would offer a wide range of

functionality from simple map production and information retrieval, such as

terrier data to spatial analysis like site finding, valuation etc.

However, it is observed that some real estate practitioners or firms in

Nigeria is still in the dark as to the contemporary 'innovations and relevance

of Information and Communication Technology (lCT) in global property

market scheme, conflict of professional interests is an evidence of lack of

strategic vision within the real estate sector. Parallel lack of emphasis on

training and education to meet the demands of this new commercial

environment is prevalent. There is a negligent attendance to the benefit of

the function of Information and Communication Technology (lCT) through

the emergence of cyberspace.

The level of information and communication technology (lCT)

awareness amongst real estate professionals in Nigeria is quite low (Kakulu,

2003) and a recent review of teaching curriculum amongst higher

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institutions offering estate management in Nigeria including Universities

Commission (NUC) minimum standards for environmental sciences, reveals

that although ICT course are provided for, it is in the form of general

introduction on an awareness level.

With the wide spread use and dependence on ICT globally, mere

knowledge on an awareness level only is not sustainable as professionals are

unable to apply the skill in practice in a meaningful way. Awareness level

training in form of courses offered by service departments is not able to fully

address the specific needs of real estate professionals in a meaningful way.

In Nigeria today, we are all witnesses to the on-going ICT revolution

in the Nigerian banking industry and the change from the use of manual

filling and record keeping methods less than a decade ago to automated

practice methods. Recently, A TM machines have been introduced into the

Nigerian banking industry as well. The question to ask regarding real estate

profession in Nigeria is how we have fared, and what our current ICT

literacy level and utilisation as a profession is? Are we taking the lead in the

construction industry or are we lagging behind in technology?

1.2 STATEMENT OF THE PROBLEM

The principle of globalization and the emergence of new technologies

have created new challenges. These challenges have permeated all aspect of

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living; real estate practice is not left out. Real estate practitioners are today

faced with the challenges of new techniques and more efficient means of

managing and storing information for quicker and more effective

management decision, this makes the use of information and communication

technology e.g. computer and computer network imperative in real estate

practice.

However, evidence has shown that several sectors in the corporate

world depend heavily on information and communication technology in

their daily operations, real estate practitioners in Nigeria do not seem to be

operating at par with their professional counterparts in the industry. Some

practitioners have traditionally lagged behind others, when it comes to

applying the latest ICT application in real estate practice.

1.3 AIMS AND OBJECTIVES OF THE STUDY

The aim of the study is to examine critical Issues and trends in

information and communication technology, which impact profoundly on

real estate practice, so that an objective assessment can be drawn on how the

practice has fared, and how the resources of information and communication

technology can be effectively harnessed to improve real estate practice in

Nigeria.

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OBJECTIVE OF THE STUDY

The objectives of the study are as follows:

1) To examine the impact of information and communication technology

application in the contemporary practice of real estate, in the study

area.

2) To investigate critical issues and trends in information and

communication technology which impacts in contemporary practice

of real estate.

3) To examine how the resources of Information and Communication

Technology (ICT) can be effectively. harnessed to Improve the

contemporary practice real estate.

4) To ascertain the level of information and communication technology

adherence in contemporary practice real of estate practice.

1.3 RESEARCH QUESTIONS

1. Does the application of information and communication technology

(ICT) have effect on contemporary practice of real estate?

2. Do the trends in information and communication technology (ICT)

application in real estate practice have effect on contemporary

practice of real estate?

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3. What is the level of information and communication technology

adherence on contemporary practice of real estate?

4. How can the resources of information and communication technology

be effectively harnessed to improve the contemporary practice of real

estate?

1.4 STATEMENT OF RESEARCH HYPOTHESES

1. Ho: There is no significant relationship between the application of

information and communication technology and real estate practice.

Hi: There is a significant relationship between the application of


2. Ho: There is no significant relationship between the trends in


Hi: There is a significant relationship between the trends in


3. Ho: There is no significant relationship between low information and

communication technology adherence and real estate practice.

Hi: There is a significant relationship between low information and


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1.5 SIGNIFICANCE OF THE STUDY

The significance of the study lies to a great extent in setting a stage

for rapid and a more comprehensive appraisal of information and

communication technology in real estate practice. This has become

necessary to keep the practitioners abreast with the use and advantages

inherent in ICT and its application to human problems.

This study is also significant because it will help in reducing waste,

save time and encourage simple, moral, accountable, responsive and

transparent conduct in the delivery of real estate services

This study is significant in the sense that it will help in facilitating

cross collaboration and co-ordination amongst practitioners in different

continents.

This study is also significant because it will help in reducing waste,

save time and encourage simple, moral, accountable; responsive and

transparent conduct in the delivery of real estate services.

This study is significant in the sense that it will help in facilitating

cross collaboration and co-ordination amongst practitioners in different

continents of the world, and ensure easier, faster and appropriate decision

making in real estate practice.

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Finally, this study will help demonstrate a proactive strategies that

can be used to achieve utmost efficiency in real estate practice in Nigeria,

through the effective and efficient use of technology (computers, technology

providers, telephone systems, e-mail, serves, software and networking).

1.6 LIMITATION OF THE STUDY

A study of this nature, being carried out in the present economic,

political and social conditions is faced with a number of limitations. Often,

most respondents were unwilling to co-operate, for fear of disclosing the

true position of their organisations activities some of the practitioners were

apprehensive of the researcher's intention, suspecting that he may sell their

firms information to the competitors. These problems limited the

availability of some data needed for the investigation.

In the course of this research work, the researcher encountered other

setbacks which any research work might pose. These include ICT illiteracy,

a good number of the practitioners were ignorant of the use of ICT in real

estate practice, hence data could not be gathered.

Despite these shortcomings, the research findings remain valid.

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1.7 SCOPE OF STUDY

The study is designed to assess the application of information and

communication technology in contemporary practice of real estate in

Nigeria. The study is limited to Lagos metropolis, because Lagos has the

highest concentration of real estate surveying firms in Nigeria, and it is

expected that innovations in the use of new technology in the practice will

first emerge in Lagos.

1.8 DEFINITION OF TERMS

1. Artificial Intelligent (AI): A concept of computer programmed to

assume forms of human intelligent including learning, adoption and

correction; these are computers working as experts in field real estate.

2. Computer Aided Design (CAD): A highly specialized kind of

drawing program used in architectural and engineering work.

3. Geographic Information System (GIS): Is a computerised tool for

capturing, storing, checking, integrating, manipulating analysing and

displaying of data which are spatially referenced towards an effective

decision making in real estate practice.

4. Land Information System (LIS): Denotes those information systems

used in support of land management activities in real estate practice.

5. Multiple Listing Servicing (MLS): Is a computer Information

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system used by agents to collect buyers to sellers, control and

disseminate information as regard land and properties.

6. Soft Ware Application (SWA): This refers to soft ware developed to

enable computer users perform specific tasks or results specific

problems using computer in of real estate practice.

7. Management Information System (MIS): Is a software that provides

information to real estate managers at all levels on proper decision

taking in line with the policies and objectives of the organisation.

8. Local Area Network (LAN): LAN is a communications network

covering a limited geographical distance such as office buildings

within close proximity.

9. Management information system (MIS): Is software that provides

information for managers at all levels on proper decisions taking in

line with the policies and objectives of the organization.

10. Disk Operating System (DOS): Disk operating system IS a master

control program that runs the computer example operating system

software for the PC includes windows 95, 98, and me and NT/2000.

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CHAPTER TWO

LITERATURE REVIEW

This chapter focuses on literature search on areas relevant to this

study. Information for this section was gathered through textbooks, journals

as well as internet and intensive sessions conducted on some real estate

practitioners. However, the following shall be reviewed for the purpose of

this study.

1) The Concept of Real Estate Practice.

2) Information and Communication Technology

3) The Impact of Information and Communication Technology in Real

Estate Practice.

2.1 THE CONCEPT OF REAL ESTATE PRACTICE

Various authors have defined real estate practice/estate management.

According to Lexicon Universal Encyclopaedia (1989 Vol. 7E), an estate is

a property to which a person is lawfully entitled. In traditional law, the word

referred to property in land, a person's estate consists of the interest or rights

that the person held in land. Funk and Wagnals new Encyclopaedia (1975)

states that "the term estate is also used in a more general sense to denote the

whole property processes by an individual i.e. the total belongings person".

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Encyclopaedia Enearta premium suite (2004) describes real estate as land

and everything built on it, and the nature and extent of one's interest therein.

Though, chiefly an American usage, the term has the advantage of

distinguishing between such landed property and the broader classes of

property in general unlike common British usage. . The word "Real" as it

relates to property, means land as distinguished from personal property, and

estate is defined as the interest one has in property. Real estate may be

acquired, owned and conveyed by individuals, Business Corporation,

charitable organisation, religious organisation, etc.

Furthermore, Ihekwumere (2004) described real estate practice as an

art of providing expert advice on land, property and construction issues.

This professional advice borders on many issues regarding the development,

construction, occupation of residential and commercial properties. The

estate surveyors and valuers' Registration Board of Nigeria, sees real estate

practice as an art, science and practice of:

a) Determining the value of all description of property and of the various

interests therein.

b) Managing and developing estates and other business concerned with

the management of landed property.

c) Securing the optimal use of land and its associated resources to meet

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social and economic needs; among others.

d) Determining the structure and condition of buildings and their

services and advising on their maintenance, alteration and

improvement.

e) Determining the economic use of land resources by means of

financial appraisal for the building industry; and

f) Selling (whether by auction or otherwise and buying or letting (as an

agent) of real and personal property and of an interest therein.

Olusegun (2000) explains this much when ·he said that the service of

a real estate practitioners may be sought by anyone with an interest in or

contemplating an acquisition of interest in land or building. For example, he

may be required to advice a vendor on a price to sell his property, or a

prospective tenant on the annual rent he should pay a mortgage (bank) on

the value of the security and on the mortgage loan he can advice and any

person dispossessed of his land under compulsory acquisition, on the

compensation he can claim.

For the purpose of this work, one can say that real estate practice is an

all embracing profession, which undertakes a wide range of services

including: estate agency, property management, property appraisal,

development and project management, estate consultancy and compulsory

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acquisition matters, and land economy valuation on behalf of individual

owners who wanted to be relieved of the responsibilities of personally

attending to the details of renting, rent collection, property, maintenance,

record keeping etc. as regards their property.

2.2 INFORMATION AND COMMUNICATION TECHNOLOGY

Information and Communication Technology (lCT) and Globalisation

are the two global phenomena that influenced the modem practice of real

estate in many nations of the world including Nigeria. Real estate practice in

Nigeria is experiencing a transformation in response to globalization.

Aluwong (2005) said, "the Nigerian government through recent policies on

trade liberation, regional integration and Information Communication

Technology (ICT) shows some commitment to globalisation and the

adoption of information technology". The world market has become

homogenised, converting the domestic market into a twenty-four hour global

market. This trend according to Bontz (2000) has brought unprecedented

degree of competition among nations and among business organisations”.

Lucy (1995) defined information and communication technology as

the acquisition, processing, storage and dissemination of vocal, pictorial,

textual and numeric information by a micro-electronic based combination of

computing and telecommunications; a revolution that has penetrated almost

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all fields of human activity, thus transforming our economic and social life

(Obi and Oborah; 2001). It has been recommended that efforts be made to

create conducive environment for the acquisition and usage of ICT

equipment. Akinola (2005) observes that, there are now net managers of

information, about millions of users, corporate and individual web sites, as

the flow of information globally. Nigeria as a nation is not left behind in her

desire to join the global internet race. The Federal Govt of Nigeria in March

2001 approved a national ICT policy and established a National Information

Technology Development Agency (NITDA), to oversee its implementation.

The National ICT Policy has a vision of making Nigeria an ICT capable

country in Africa and a key player in the information society by the year

2007, using ICT as the engine for sustainable development and global

competitiveness. Also the Information Technology Association of America

(ITAA) defined ICT as the study design, development, Implementation,

support or management of computer-based information systems, particularly

software applications and computer hardware. However, ICT deals with the

use of electronic computer and computer software to convert, store, protect,

process, transmit, and securely retrieve information.

More so, Encyclopaedia Britannica "0968) described information and

communication technology as an integrated set of component for collecting,

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storing, processing and communicating information. Business firm, other

organisations, and individuals in contemporary society rely on information

and communication technology systems to manage their operations,

compete in the market place, supply services and augument personal lives.

For instance, modem real estate firms rely on computerised information

systems to process financial account and manage human resources.

Information and communication technology (ICT) has been adapted in real

estate practice to use surrogate information such as land sat or spot images,

aerial photographs, etc., in addition to the base maps to give upto-date

information on the study area.

2.3 THE IMPACT OF INFORMATION AND COMMUNICATION

TECHNOLOGY IN REAL ESTATE PRACTICE

Information and communication technology has recently started what

appears to be a revolution in real estate practice. Real estate practitioners are

increasingly investing in technology hardware and software. Real estate

practice is in the midst of dramatic changes brought about by online

technology and enhanced accessibility to information. A large segment of

the real estate practitioners are using websites, so that anyone with a home

computer and internet services can get access to real estate sales

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information. An essential element in the changes taking place is the creation

of an industry standard in order to make the exchange of data between real

estate practitioners, mortgage bankers, property inspectors, and other

practice quicker and easier. According to Tse and Webb (2002) heightened

interest in internet online searches by consumers has led most real estate

professionals to change the way they operate their businesses. Real estate

brokers/agents can use the internet to send-up-to-date information to

potential clients at very low cost, accurately and quickly. The internet can

also help real estate practitioners increase sales, save time and provide a

noticeably higher level of service to both buyers and sellers. Virtual “model”

homes may also be distributed on CD-ROM, very much like brochures, and

can be accessed directly through the internet.

Webb (2002) the impact of ICT on the real estate industry is

potentially extensive, business strategies of traditional real estate brokerage

firm have changed considerably from the 1980s through the 1990s to the

present. This traditional business model for real estate brokerage firm use to

concentrate on the real estate transaction process. Real estate brokers/sales

people are essentially market intermediaries, providing information to

customers, connecting buyers with sellers and facilitating the real estate

transaction process. But now real estate business use computer automation

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to speed the real estate transactions and brokers/sales people can concentrate

on adding value for customers. Information about properties and real estate

brokers/sales people are collected in one place through the websites. For

instance, technology is prompting similar advances m the areas of title

insurance, homeowners insurance, appraisal and real estate auctions. Those

changes mostly revolve around computerized appraisal services, electronic

primary mortgage loan origination and electronic secondary mortgage

market sales. As a result, information cost is much reduced and most areas

in real estate business have a much more competitive environment. A small

brokerage firm has the advantages of flexibility in organisation and

operation and the ability to capitalize quickly on new sales opportunities.

However, the growth in the availability of database providing real estate

market information and services actually reduce the need for traditional

market services. E-mail, voice mail cellular phones and pagers have

increased the efficiency and productivity of real estate practice. Once

buyers, seller, borrowers and lenders are able to obtain relatively cost free

real estate (or real estate related) information. Therefore, it should cause a

reduction in the amount of routine work for real estate practitioners.

Dixon (2005) citing Perez (2002) and Gordon (2000) noted that in

over hundreds of years, when technological changes has brought about

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radical changes to market boundaries, increasing the scope to exploit

intellectual capital, examples includes painting, steam power (electricity),

canals, and railways, mass media and more recently information and

communication technology also, Rowlatt and Vaze (2002) asserted that the

real estate practice of the twenty-first century is different from any other

practice in the past and highlight three main aspects as follows:

a) Infrastructure to assemble, analyse, communicate and manage

information with computer mediated networks;

b) Transactions to purchase goods and services carried out through

Electronic Data Interchange (EDI) or over the internet;

c) Interactions transferring information between enterprises of

individuals, which add to value.

Furthermore, Kakulu (2008) posit that information and

communication technology application to property management provide the

professional property manager with an extremely powerful and flexible

information management tool for property management and lease

administration. ICT enable proper documentation of virtually everything

about a property, information about the owners' construction details;

photographs, sketches, lease agreement including records of receipts and

payments. Also, information about any property can be called up at any time

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and in variety of ways. According to her, computer can also be programmed

with handy reminders, shortlists of which administrative actions are due or

are pending at all times reducing the incident of failing to keep appointments

or sending out belated reminders. Also, apart from the database function,

notices and reminders to tenants are made via the internet and not by post.

In her words, ICT application IS cost saving and the processes of

negotiation for rent renewals is properly documented and saved on the

computer for future reference. The issue of distance is almost completely

removed with ICT. According to her where surveyors in the property

management specialty are sufficiently trained, a computerised approach to

property management will assist the property manager as follows:

a) Maintain a lively and active property data base which would be useful

for planning and budget preparation.

b) Information may be found whenever it is required.

c) It can automatically extract and highlight important dates such as

lease renewal dates and also prepare letters, reminders and demand

notices. It is quite obvious that there is no management without

measurement. An effective management can only be realised if there

are data about the features in an estate.

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In order to overcome the inherent problem of limitation in the old

system of management of an estate, hence the invention of the Geographic

Information System (GIS). Kufoniyi (1998) described geo-informatics as a

body of knowledge that deals with the acquisition, processing and

management of geo-information, that is, science and technology for the

acquisition, storage, analysis, manipulation and dissemination of geo-

information. He defined GIS as a computerised tool for capturing, storing,

checking, integrating, manipulating, analysing and displaying of data which

are spatially referenced towards an effective decision making.

Kufoniyi (1998) further stated that GIS performs three fundamental

operation of database; query, derivative mapping and processing modelling,

GIS has enhanced capability of executing proximity analysis, various site

selection model such as trade area analysis, spatial interaction, location

factors, etc. (ESRI, 2005) C.P.L.O. and K. W Yeung (2003) argued that at

the application level, GIS is often called by different names e.g. practitioners

in land surveying, land administration and real estate commonly used the

term Land Information System (LIS) to denote those information systems

used in support of land management activities. Land management refers to

the decision making and implementation of decisions about the land and its

resources. Gilbert Castle (2006) also emphasised on application of GIS in

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estate management activities in the following areas; market monitoring and

non king site selection, brokerage, property management portfolio

management, appraisal, property tax assessment, management of publicity

owned real estate assets, sales of data layers by public agencies, etc. Olaniyi

(2006). The applications are not exhaustive; GIS has more advantages than

the analogue way of keeping the tracks of information in an estate. Estate

information managed with GIS is more versatile because it can be subjected

to many applications without introducing errors. Among "the many benefits

derivable from application of GIS in an estate are; New and flexible form of

output (customized mapping), quick and easy access to large volume of data

about the feature in the estate, selection of terrain details through answering

some spatial problem, ability to answer complex land related questions.

Another way in which GIS has revolutionalised the real estate industry is in

the area of internet, whereby the estate managers display their services on

the internet thereby enabling the customers to see the properties of their

choice, its price, location; amenities in the estate and its neighbourhood

influence without visiting the manager's office.

Olaniyi et al (2006) further posit that the application of GIS in real

estate practice has more advantages than the analogue way of keeping the

tracks of information in an estate because the spatial data base is directly

35

linked to the spatial entities on the map of the estate. Estate information

managed with GIS is more versatile because it can be subjected to many

applications without introducing errors. Among the many benefits derivable

from application of GIS in real estate practice are: New and flexible form of

output (Customised mapping), quick and easy access to large volume of data

about the features in the estate, selection of terrain data: is through

answering some spatial problem, ability to merge on data set to another,

capability of speedy up dating and the ability to answer complex land related

questions.

Ogbuefi (2002) explains this much when he says that few years ago, it

was common to use lotus 1-2-3 in some of the real estate analysis, but today

it is more common to use programmes like Microsoft Excel 2000 (9.0).

Because of the continuous advances in computer Technology, there are

obvious chances of further improvement in the way some of these analyses

are to be executed. There is no doubt that manual method of analysis is not

only tedious and time consuming, especially where complex investment

projects with multiple variables are involved, but it also has limitations of

scope and accuracy. He further noted that computer-aided approach is more

effective, less time consuming with better and more secured storage

capability, quicker display or retrieval and much easier manipulation than

36

the manual approach.

He further stated that in the field of Geo-informatic (Land surveying)

and Geograph, the computer has been adapted to use surrogate information

such as land sat or spot images, aerial photographs, etc. in addition to the

base maps to give an up-to-date information on the study area Ogbuefi

(2002) further advocated for Land Information System (LIS) which would

be an estate surveying equivalent of Geographic Information System (GIS).

In LIS such surrogate information as design, state of repairs and

maintenance and facility status in the property investment area can be used.

In addition to other factors to get an up-to-date and a more comprehensive

information on the property investment area.

Sastry and Swaroop (2009) observed, that with the advent of

computers, maintaining accurate data on land records has become easier.

Many of the new generation software like CAD and GIS can accommodate

the basic information of the land records and provide additional tools to

perform analysis. The present technologies offer very wide range of the

information applications. With the help of Global Positioning System

accurate positions of the land locations can be established and similarly

remote sensing data can be utilised for updating the land and infrastructure

features time and again on the same base map whenever required.

37

Sastry and Swaroop (2009) also, said that the advantage of advance

GIS is that it can be very easily integrated to the GPS and RS tools and can

directly pass the information into the designed system. Using the new

technologists, once the individual land record is computerised, various

space-specific parameters can be hooked-up to the land record, the same

record can be utilised right from taxation purpose to the micro/regional level

planning.

Tse and Webb (2002) obviously sounds the same note when they

posits that, information and communication technology has significantly

change the way firms are organised and methods many real estate

professionals adopt in marketing properties, sellers can get directly involved

in heterogeneous real estate practice. Business survival is becoming more

closely tied to real estate sales, firm's abilities to adapt to technological

changes and to use technology to attract customers. Through much debate

and careful consideration along with a variety of successes and mistakes, the

real estate sales business has been adapting itself to take advantage of the

internet over the past several years. With such explosive growth in

electronic commerce, a number of industries, including real estate, are

leveraging themselves to benefit from the new technology. Crowston and

Wigand (2003) agree with the earlier view when they said, that real estate is

38

an information business. Consequently, it is deeply impacted by information

technology and resulting change, including the assembly, analysis and

transfer of information. According to them this escalating change appears to

alter the structure of the real estate market when (a) studying the firm that

serves it as well as (b) the consumers it serves. The information revolution

that is inescapably penetrating all facets of industry is propelling the real

estate industry as well into territories unknown. The structure of the industry

has evolved toward small, clearly identified specialised firms and large

market-share brokerages. The middle-sized firm has been shrinking and

appears to continue doing so.

Dutton (2004) noted that new ICT help to reshape how people come

to think about access to information. That is, as people begin to use a new

ICT to access information and to interact with one-another, they begin to

rethink their relationships with information and communication. It is this

reshaping or redefining that often leads to innovation and change. For

example, sellers have more information available, which allows them to

better assess their market value. This in turn allows them to rethink how

they handle their house – as an asset that they can manage relative to

refinancing, renovations etc. The change in access to information on real

estate allows a series of subtle changes to redefine what it means to use the

39

ICT available.

However, the current advantages in computer technology, near

friction-less, low-cost transmission of transactions easily crossing continents

in seconds, as well as the growth of the World Wide Web (WWW), have

placed pressures on the real estate transactions. Due to the pervasiveness of

the internet, we anticipate an eroding power of real estate professionals, as

they adapt to the loss of exclusive access to the MLS.

Kakulu (2003) opined that the use of ICT in development appraisal

assists the real estate practitioners in a number of key areas in the practice.

1. Real estate problem is reduced to an organized array of numerical

data for input into the system thus compelling the real estate

practitioners to adopt more logical and sequential patterns in the

conduct of their work.

2. The results produced are more reliable than that produced using a

pocket calculator.

3. All calculations are performed automatically and sensitivity analysis

is done on the results so obtained to investigate the effects of possible

and faceable changes in some of the variables on the ultimate

outcome of the investment.

4. Weeks and months of lengthy calculation~ are reduced to a matter of

40

minutes.

The impact of ICT on real estate practice is supported in the work of

Johnson and Day (2005) when they stated that ICT has permeated every

aspect of management and decision making in real estate practice.

According to them conventional real estate practice have changed and now

encompasses the use of systems as electronic data processing (EDPs)

management information system (MIS), decision support system (DSS and

expert system (ES) as well as emerging business computing system such as

group wares technologies (e.g. group decision support system, electronic

mail video conferencing, computer supported cooperative work and

organizational computing systems. Evidences of this can be seen in the

practice, as practitioners pursued decentralized data process strategies by

downsizing, out-sourcing and inter-working tour of this system in effect,

characterized the evolution and development of the business computing field

in real estate practice.

The report by the Federal Trade Commission and US Department of

Justice (2007) revealed that real estate industry has undergone a number of

substantial changes in recent years. Today real estate practitioners are

changing the way they operate and are increasingly incorporating the use of

internet into business models in a variety of way. Such as offering potential

41

buyers the option to view full, detailed multiple listing services ("MLSs")

online, using websites to gather "lead" information on potential customers,

and using internet to match home buyers and sellers. The increase ease with

which home buyers and seller can perform tasks that once were exclusive

domain of real estate agents and brokers likely has been an important factor

in the increased demand innovative.

Previous research by College of Estate Management (2001) has

examined and analyzed retail value impact in rental property caused bye-

commerce using an analysis based on migration of sales from stores and

mail order, the study suggested that rental growth in the UK would be

reduced by between 0.2 percent and 0.5 percent p.a. over the period of 2000

- 2005. Retail therefore provides an example of how ICT can create new

distribution model, which affect turnover and rent in real estate. The work of

Thompson and Hills (1999) Tien Foo (2002) and Tien Foo et al (2004)

remain the best-known studies here.

Tse and Webb (2003) states that real estate practice is in the midst of

dramatic changes brought about by online technology and enhanced

accessibility to information. A large segment of the real estate industry is

using websites so that anyone with a home computer and Internet services

can get access to real estate sales information. Furthermore, an essential

42

element on the changes taking place is the creation of an industry standard

in order to make the exchange of data between real estate practitioner,

mortgage bankers, property inspectors and other parties quicker and easier.

Tse and Webb (2003) noted that heightened interest in internet online

searches by customers has led most real estate professionals to change the

way they operate their businesses. Real estate practitioners can use the

Internet to send up- to- date information to potential clients at a very low

cost, accurately and quickly. The Internet can also help real estate

practitioners increase sales, save time and provide a noticeably higher level

of service to both buyer and sellers. Virtual model names may also be

distributed on CD-ROM, very much like brochures, and can even be

accessed directly through the Internet. In their words, the use of the Internet

is predicted to result in gradual decline in the total number of active real

estate practitioners. Consequently, the actual amount of face time spent with

buyers and sellers are reduced. Elder and Baryla (1996). However, stressed

that people can now use the internet to search for both properties and agents

sophisticated real estate consumers with internet access to incredibly

debated property information tend to demand services and fee structure

tailored to specific needs on the other hand, the internet may level the

playing field by allowing all brokers to easily offer services and find new

43

customers. Thus, the intent has cause the real estate market to become much

more competitive. Houses can be sold quickly and homes that are sold are

less likely to be overpriced. Technological development will put continued

pressure on commission rates due to increase competition, easy accessibility

of information directly by consumers, and rebate schemes (Baen; 1998).

However, seller may be able to shift part of the commission to buyer search

costs. With the advance of technology, it is possible that the internet would

enable information sharing and the bypassing of traditional information

intermediaries.

If buyers and seller can find one another through the internet (such as

owners. Com), then the value traditionally added by the brokers will

decrease, ultimately depressing commission rates (Muhanna, 2000). Real

estate sales firms may need fewer, but more highly trained agents who can

offer professional guidance and other value-added services to clients, while

leaving routine services to technology.

Sawyer, et al (2005) highlighted three industrial level changes in the

US residential Real Estate industry as a result of the use of information and

communication technology (lCT) as follows:

1. Process changes in the transaction of real estate transaction caused by

rapid computerization;

44

2. Changing roles for information. These changing roles were

highlighted:

a) Access to information is increasing transparent

b) Standards for digital data structure and exchange are seen as

increasing important

c) The value of information control in listing data and sharing

information continue to characterize policy level activity.

3. Role of intermediation when appropriate ICT (such as computers

connected to the internet) can reach the consumer (including home

buyers and sellers) directly there exist the potential to leapfrog or

bypass the players within a value chain. Information and

communication technology has recently started what appears to be

revolution in real estate practice; professionals are increasingly

investing in technology hardware and software.

Similarly, Kummerow and Lun (2005) aptly said that the

improvement in ICT and productivity leads to important long run changes in

business process and industry structure tending to favour larger firms with

ICT and promoting specialization of function. Also, more change in the

information structure of real estate decision systems could change systems

dynamics and improve allocative efficiency.

45

Kakulu (2008) argues that ICT has enhanced agency practice In the

following: property records are maintained on a database in the office or an

external database where they are accessed or retrieved when required. ICT is

also useful for advertising, as the property in question is advertised on the

firm's websites on any property related websites where it immediately

becomes available to the whole world. According to her actual physical

visits to the site which is frustrated by distance, traffic jams or inclement

weather is replaced with a video of the external and internal views of the

property, also the property is accessed online, on a laptop or an office

desktop computer.

lhekwumere (2004) reaffirmed the impact of ICT when he stressed

that the use of paper has reduced in real estate firms online disk storage has

become the norm of real estate practice now. He further stated that drafting

of letters to erring tenants can be time consuming, but ICT program offers a

template for letters in proper form as well as pre-written form to meet all

sorts of needs, e.g. eviction notices, rent demand notice, termination and all

types of problems in real estate practice.

Friedman (2005) described the change in the status quo and discusses

how the world is being flattened by the drive towards technology and

standards as a result of ICT. According to him these two drivers open data

46

standardization and technological innovations are flattening the real estate

practice and by extension, the valuation terrain. Far from self-serving

hyperbole, it is clear that process and data standardization as a result of ICT

application will not only drive significant efficiencies into the market, they

will eventually change the very nature of real estate analysis. In his word,

estate practitioners who have been fond of saying that appraisal is an art not

a science will be in a position of having access to data and tools that can

analyze the data at a level that will truly begin to resemble real estate

econometrics.

lheukwumere (2004) observes thus: that ICT has enabled real estate

practitioners in remote locations to access information on their individual

computers back in the office via the web. She further assert that jobs that

relied on constant communication such as project management, real estate

practitioners now have the ability to update key stakeholders in the project

easily. Such information is available to all parties involved using

technology.

The work of Price Water House Coopers (2000) examined the

changing nature of real estate practice in the new economy. For an e-

business (as opposed to a conventional business) physical capital and

working capital may be seen as being less important than customers and

47

company employees (i.e. skilled and knowledge). Also, new types of real

estate practice have emerged and there is a blurring of emphasis between the

traditional sectors, with more marginal and secondary locations and property

types at risk.

Borsuk (1999) argued that technology impacts on the demand for real

estate in a deterministic way. The first order consequence is that consumers

gravitate online for convenience, device and control and so the geocentric

shopping pattern, based on distance and location, becomes much less

important. As a second order consequence of this, retailers decide to lead or

follow their customer online, which causes a migration of sales to the

Internet, creating a downward shift in individual store performance.

Retailers then alter their sales channel matrix and this impacts on

leasing strategy. The third order consequence is therefore an impact on rent

and property values and lender and investor expectations. However, more

recent research shades (Dixon and Marston 2002) Dixon et al (2002, 2005),

have found a growing impact of ICT in real estate practice.

In the words of Jud et al (2002) real estate practice is on the cusp of a

radical transformation brought about by cyberspace technology. They also

said that the flow of information in real estate practice is increasing quickly

because of proliferation of company websites, e-mail, cellular phones,

48

personal digital assistances, online linkage to financing sources and other

technology advances.

According to them ICT is transforming· established institutions and

opening up new venue, as many traditional brokerage activities can be

delivered more quickly and with more efficiency. New Cyber space

technology is making the house search process cheaper and easier. Real

estate website such as NAR's Realtor.com and Microsoft Home-

Advisor.com allows potential buyer to search available properties by

location of zip code and narrow the search by adding information on desired

amenities and price range. Many sites also provide virtual tour of home

interiors, allow buyers 360 degree view of each room when web searchers

find something that meet their specification. They e-mail their interest to the

seller or the listing broker. However, the new technology also brings forth

the threats of competition from internet-based real estate company; real

estate practices are in the midst of these technological revolution.

Kakulu (2008) noted that ICT has generally enhanced real estate

practice in Nigeria. A simple example is the use of mobile phones for

communication via text message which helped improve communication on

the course of everyday assignment, field staff can make immediate contact

with their home office of the principal partner when issue arise while out in

49

the field. In past such staff would have had to return to base to deal with

such issues.

According to her, the use of computer and the Internet has also made

it possible for firms to operate several branches apart from their head offices

with more ease than previously was the case. Professional reports may be

vetted online and the exchange of documented information has been greatly

enhanced. Thrall (2000) said this much when he suggested that real estate

practice is information arbitrage. The computer products are an example of

how new technology is changing the way in which real estate decisions are

made and demonstrate how real estate development, financing, investment

decisions making has become very dependant on ICT.

Crowston, et al (2001:13) viewed ICT in real estate practice as both

the product and shaper of human action (Barley, 1986, Newman and Robey,

1992, Orlikowski, 1992) Increased use of web-based systems to advertise

listings can both help and hurt practitioners current roles. They help by

extending the practitioner's ability to market their listings. The increased

ICT in real estate practice hurts because it reduces the practitioners control

over information. This allows other potential intermediaries (such as the

website owners/developers) to participate. Moreover, the increased uses of

ICT also change the practitioners' roles and practices they spend less time as

50

a pure market intermediary and more time as a process/transaction

supporters.

Swanepol and Tuccilino (2003) reinforces the impact of ICT when

they argued that ICT has drastically changed the nature of real estate

practice, where people's skill was paramount and information was sole

property of the real estate practitioners to a situation where information is

democratized and knowledge creation as a service to customer driver'

success.

Hatchinson et al (2000) opined that normally it takes a month or more

to arrange the financing and signing closing papers for a home purchase. But

now, there are ways to speed this up. St. Petersburg Florida CREDCO offers

one stop investigation shopping that provides residential mortgage credit

reports, assess a borrower's credit risk and gives customers a personal credit

report. All Alltel information systems formed a combined network that

allows buyers to reduce the time for loan qualifying and closing from a

month to a few days.

With ICT real estate practice agents, appraiser, bank, and insurers

associated with the sale on the same secure network, would have no need for

the time consuming process of printing, faxing, or express mailing hard

copy, forms and document. If a surveyor wants to remodel a less than

51

desirable new domicile or see how it might look with various kinds of floor,

wall, and fabric coverings or furnishings and appliance he can obtain three-

dimensional models. From a CD-ROM called visual home from the Palo

Alto, California, the company book from that work simply download the

models and material into your PC says one report, and see how a new

appliance or cabinet will fit into your existing home before it arrives on the

delivery truck.

Furthermore, Hutchinson and Sawyer (2000) affirm that realtor’s

websites have become an invaluable source for sorting through information

ranging from how to pick a neighbourhood and a property, to how to get the

best mortgage, whereas yesterday most of the control information was in the

hands of realtors, now it is under the control of consumers. Some websites

carry descriptions of homes, photographs, and even virtual walkthroughs, so

visitors can get a fell of the properties, others list mortgage rates, details

about neighbourhoods, schools and property tax rates.

According to them practitioners can launch a search by specifying

geographic location, number of bedrooms, price and so on. If you want to

know if a house you are interested in is overpriced for the neighbourhood,

you can go to an internet site (www.recomps.com) established by Steward

Title of Orange Country, California, and dial into a national database that

52

allows you to compare recent sale price of similar homes in the same

neighbourhood.

In addition to sales prices data, detailed information is provided on

Square Footage, lot size, number of bedrooms, and bathrooms taxes and

special amenities such as a swimming pool, spa and remodeling. Also, the

data search will cover as many as 30 comparable homes sold in a

neighbourhood during the past 12 months. If you want to know where

comparable properties are located, you can also go to website for Map Blast

(www.mapblast.com). Map Blast allows the practitioner to produce a

detailed map from almost any street address in the United States.

The individual real estate practitioner is more important than the firm

to home sellers selecting an agent, since prior acquaintance with the agent is

the primary factor in considering an agent.

Gone are the days when the real estate agent was the main sources of

information for home buyers and sellers, Today's consumer has access to an

exponentially unlimited amount of real estate information; some accurate

and some questionable. This enhanced access empowers much different

consumer and market environment for today's real estate agent. The "real-

estate-smart" consumer is creating a new role for those seeking to be real

estate professional in today's competitive marketplace. Swanepoel et al

53

(2007) corroborates this view when they stated that the information-

empowered practitioners and consumers has already affected real estate

industry. For example, previously financial information was distributed via

financial broker, newspaper or by television on delayed feed but today the

financial information is delivered in real time to consumers with internet

access. In addition, the information provided as mushroomed from the

opening and closing price to an almost encyclopaedic array of new releases,

biographic, past history, profiles, comparisons, and related matters. Thus

consumer access has caused a significant change by creating not only new

competing business models but by reengineering the paradigm ... with the

potentially more informed consumer the real estate professional's role is

changing to subject-matter-expert, information processor and transaction

facilitator rather than salesperson, order taker or chauffeur. Johnson et al

(1988) Webb (2000) found that education before licensing remains the

single most important thing that could be done to enhance the professional

practice and image of real estate practitioners. Despite the technology boom

on an off line, the real estate industry will remain high touch.

The Internet is often viewed as a business opportunity but few would

plan to use the Internet to reduce marketing and customer acquisition costs.

Home buyers can shop for listing online, view virtual tours of properties,

54

exchange emails about the home buying process with a practitioner, and

even bid for a property online but they still need a professional to complete

the paperwork, negotiate the deal, and resolve the unexpected problem.

Buyers and sellers will gravitate to service options that meet their specific

needs, whether technologically based or from a personal representative.

Experts are trying to shape the future of ICT implementation in real estate

practice. However, part of the fun of life is still going shopping in person.

The first wave of customers tends to go online, but in time, customers will

be less impressed with the novelty of online shopping than with the quality

of the transaction. Thus there is still a need for re-intermediate of the

salesperson. On the other hand, Jud and Frew (1986) suggest that brokers do

more than produce matches between buyers and sellers. They argue that the

influence of brokers on the demand for housing is similar to that of

advertising on the demand for other good and services.

However, the first wave of consumers tends to go online but in time

customers will be less impressed with the novelty of online shopping than

with the quality of the transaction or practice. Thus, there is still a need for

the re-intermediation of the salesperson.

55

Summary

Information and communication technology significantly changed the

way real estate firms are organized, the methods many real estate

practitioners adopt in marketing properties and services. Business survival is

becoming more closely tied to real estate practitioners' abilities to adapt to

technological changes and to use technology to attract customers.

Recent research by Dixon and Marston (2000, Dixon 2002, 2005) has

found a growing impact on ICT in real estate practice. Perhaps, therefore,

the issue is not lack of impact of ICT on real estate practice; rather part of

the problem with much of the research in the field is that it is often cross-

sectional in nature, preferring to take snapshots in time rather longitudinally.

This suggests we may therefore be missing change caused by ICT

because in organizational management and real estate process, the changes

are much harder to map. Also, the majority of studies do not compare

current working practices. It is inherently more difficult to identify step

changes in practice if you have only recently become part of the revolution

in technology, and part of the issue may also be connected with who is

surveyed in these studies, what their role is in the organization and how they

see technological changes as altering their practice models.

56

Focusing too narrowly on the institutional barriers or simplistic

application of transaction cost theory, with little or no empirical support

(Baen and Guffery 1997, Bakos, 1998) could have compounded the problem

intended for resolution as a result of measuring and identifying the precise

nature and the impact of technological change in real estate practice.

Nonetheless the above research works offer a valuable insight.

While these studies have been successful in finding the interplay

between ICT application and real estate practice, they necessary omit much

of the subtlety of the connections which this research study is intend to

solve.

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CHAPTER THREE

RESEARCH METHODOLOGY

3.0 INTRODUCTION

This chapter deals with the methods and procedures used in the

conduct of this research study. Good effort was made to highlight all the

elements and how they were used in the study.

These elements include:

(i) The Research Design

(ii) Population of Study Area

(iii) Sources of Data Collection

(iv) Sampling and Sampling Techniques

(v) Instrument for Data Collection

(vi) Method of the Data Analysis

3.1 RESEARCH DESIGN

The study is a survey research as well, this is because it seeks to

survey the opinions of practitioners on the need and relevance of

information and communication technology in contemporary practice of real

estate as well as the "Status quo" of information and communication

technology (ICT) in real estate practice in Nigeria, using Lagos metropolis

as the area of focus. It also seeks to analyze the extent ICT have been

58

applied in contemporary practice of real estate in Lagos metropolis. To this

end therefore, a survey research design is employed. A survey according to

Okwudili (1996) is an opinion poll which shows the standing of a given

population on an issue using a sample which is a true representation of the

population.

3.2 POPULATION OF STUDY AREA

The study population was grouped into two with peculiar questions to

their circumstance. The first group consisted of real estate firms with limited

usage of information and communication technology. The second group

consists of those firms whose current level of information and

communication technology (ICT) usage is significant.

The study population was limited to those practitioners In the Lagos

metropolis. They will be randomly selected in the study area not

withstanding the age of establishment, big or small, private or government,

main offices, branches e.t.c. This study examined the opinion of a cross

section of practitioners of the selected benchmarked companies and their

experience with existing technology and the new information and

communication technology. Hence the total population for the study is two

hundred and sixty nine (269).

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3.3 SOURCES OF DATA COLLECTION

3.3.1 PRIMARY SOURCE

The information from this source comprised of responses to the

questionnaires administered to and collected from the respondents In the

organizations. One set of questionnaire was used for the study. Oral

interview was also conducted and recorded where the respondent did not

have time to write.

3.3.2 SECONDARY SOURCE

The secondary source data needed for this study were obtained from

textbooks, journals, magazines, newspapers, periodicals and other

publications. The researcher conducted primary research for information

through the use of internet services.

3.4 SAMPLING AND SAMPLING TECHNIQUES

In calculating the samples size of the practitioners both private and

government agencies, the researcher applied the statistical formula for

selecting from a finite population as formulated by Taro Yamane (1964).

The formula is stated thus:

n = N I + N(e)2

60

Where I = Constant value

n = Sample

N = Population size

C = Co-efficient of confidence or margin of error or allowable error

or level of significance. According to Yamane, the margin of error (e) is

meant to determine and get reasonable and workable sample size from a

finite population. For this study, 5% is an appropriate margin of error.

Therefore, since N = 269 and e-0.05, n can be calculated as:

n = N I + N(e)2

n = 269 1 + 269(0.05)2

n = 160

Therefore, a total of one hundred and sixty (160) respondents

constituted the sample size of the study.

3.5 INSTRUMENT FOR DATA COLLECTION

The major instrument for the collection of primary data was the

questionnaire. The questionnaire was designed on the basis of the research

hypotheses. The questionnaires contain yes or no answers. These were

personally administered to the respondents from the selected firms by the

researcher.

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3.6 VALIDITY OF THE INSTRUMENT

To ascertain the validity of the instrument; the researcher subjected

the instrument to face-to-face validity by giving it to the supervisor, and

professor in estate management, University of Nigeria, Enugu Campus, who

examined the items contained in the questionnaire and made sure they were

in line with the objectives of the study. The structure and language of the

questionnaire was modified in line with the objective of the study.

3.7 RELIABILITY OF RESEARCH INSTRUMENT

To ascertain the reliability of the instrument some copies of the

questionnaires were administered to the practitioners under survey, who

completed same and returned to the researcher. After one-week, interval the

same practitioners were presented with the same questionnaire for

completion. The aim was to ascertain the consistency and trust worthiness of

the practitioners in completing the questionnaire. When the two sets of

responses were compared, it was evidenced that their responses were similar

as the respondents maintained similar standpoints in both cases.

3.8 METHOD OF DATA ANALYSIS

The following methods of data analysis were adopted. The data

collected were summarized and presented using tables, to give a visual

62

impression of the findings. The data obtained were properly collated,

summarized and presented in tabular form. Chi-square (x2) was used to test

the hypothesis. This technique allows the result obtained to be compared

with statistical techniques and to be tested for significance.

Chi-square is a statistical tools used in testing hypothesis when the

data are in nominal or ordinal form. The chi-square test is an important tool

in hypothesis testing, it is used when there is need to compare cultural or

observed distribution with a hypothesised or anticipated one, this is often

referred to as goodness of fit; the computation is based on the difference

between the actual and expected values the formula for calculating chi-

square (x2) which is used in testing the hypotheses of this study is given as:

∑(fo – fe)2

X2 = Fe

Where X2 = Chi-square

Fo = Observed frequency

Fo = Expected frequency

The output of the model is calculated at 5% level of significance

which is gotten by (row-1) (column-1).

63

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA

4.0 INTRODUCTION

This chapter is concerned with the presentation and analysis of data

gathered from the study. Percentages were used to analyse the data, Pearson

chi-square (x2) were used to test the hypotheses copies of questionnaire were

collected from the respondents and the responses were used to deduce

findings of the study.

4.1 ANALYSIS OF CHARACTERISTICS OF RESPONDENT

In this section, an analysis of the distribution and collection of

questionnaires distributed.

DISTRIBUTION AND COLLECTION OF QUESTIONNAIRES

Table 4.1: Number of Questionnaires Distributed and Returned

Option Number Percentage (%)

Number returned 140 87.5

Number not returned 10 6.25

Total 160 100

Source: Field Survey

64

As depicted from the above, 160 questionnaires were distributed, but

87.5% were returned while 6.25% were not returned.

Table 4.1.2: Position in the Organization


Senior Partner 40 2.5

Managing partner 28 17.5

Department Head 23 14.4

Other employee 09 43.1

Total 100


Table 4.1.2 above shows that the total number of 25% of the

respondents were senior partners, 17.5% of the respondents were managing

partners, 14.4% of the respondents were various department heads and the

greatest percentage 43.12% are made up of various employees including

probationers; personal secretaries and others.

65

4.1.3: Personal Data (Background Information)

Table 4.1.3: Highest Educational Qualification


OND 35 21.9

HND 30 18.8

B.Sc 40 25

M.Sc 20 12.5

Ph.D 8 5

Others 27 16.9

Total 160 100


From the table, analysis shows that 21.9% of the total number of

respondents are OND holders 18.8% of the respondents were HND holders,

25% are B.Sc holders, M.Sc makes up 12.5% of the respondents 5% of the

respondents were Ph.D holders, while 16% are others. From the analysis the

researcher can deduce that most of the practitioners in these firms have at

least first degree.

66

4.1.4 Age Distribution of Benchmarked Firms


0-4years 10 21.28

5-10years 9 19.15

11-20years 18 38.29

21-40years 10 21.28

>40years - -

Total 47 100


From the table, analysis shows that 21.28% of the total number of

benchmarked firms have been in operation for less than 4 years, 19.15% less

than 10 years, 38.29% have been in operation for less than 20 years and

21.28% for less than 40 years

4.2 DATA PRESENTATION

To examine whether the application of information and

communication technology in real estate practice, has enhanced the potential

development of contemporary practice of real estate this question was raised.

Table 4.1.5: Does the Application of ICT in real estate have effect on the

contemporary practice of real estate?

67

Responses Frequency Percentage %

Yes 105 75

No 35 25

Total 140 100


From the data presented in table 4.1.4 above, 75% of the respondents

said ‘Yes’ that the application of information and communication

technology in real estate practice has effect in the contemporary practice of

real estate, while 25% of the respondents said ‘No’ that the application of

ICT in real estate practice has no effect in the contemporary practice of real

estate.

Table 4.1.6: Do the trends of information and communication

technology application in real estate practice have impact on the

contemporary practice of real estate?


Yes 90 64.3

No 50 35.7

Total 140 100


68

In order to find out whether the trends in ICT application in real estate

practice have impact in the contemporary practice of real estate the

respondents were asked to indicate the right answer. The responses from the

above data shows that 64.3% of the respondents agreed that the trends in

ICT application in real estate practice has impact on the contemporary

practices or real estate, while 35.7% of the respondents said ‘No’ that the

trends of ICT application in real estate practice has no impact on the

contemporary practice of real estate.

Table 4.1.7: How can ICT resources be effectively harnessed to improve

real estate practice?


Mainstreaming a robust ICT

courses/programme into estate

management curriculum in real

estate practice.

85

60.7

Organizing seminars, workshops,

symposium in real estate firms.

55

39.2

Total 140 100


69

To ascertain how ICT resources can be effectively harnessed to

improve contemporary practice of real estate. The respondents were asked to

tick the right answer. From the above data 60.7% of the respondents ticked

mainstreaming a robust ICT courses or programme into estate management

curriculum in higher institution in real estate practices, while 39.2% of the

respondents ticked organizing seminars, workshops, and symposium on ICT

in real estate practice.

Table 4.1.8: What is the level of Information and Communication

Technology adherence in the contemporary practice of real estate?


Low 41 29.3

High 99 70.7

Total 140 100


The above table shows that 29.3% of the respondents accepted a low

level of ICT adherence in contemporary practice of real estate, while 70.7%

of the respondents accepted high level of ICT adherence in the contemporary

practice of real estate.

70

4.3 TEST OF HYPOTHESES

In testing the hypotheses, the following steps would be adopted.

1) Statement of the hypothesis in the null and the alternative

2) Identification of the test statistics

3) Formulation of the decision rule

4) Computation of the test statistics

5) Interpretation of the test results

Hypothesis One

Ho: There is no significant relationship between the application of

information and communication technology and real estate

practice.

Hi: There is a significant relationship between the application of

information and communication technology and real estate

practice.

TEST OF DATA

The data for verification of hypothesis one is given below:

71

Table 4.1.9: Does the application of information and communication

technology in real estate practice have effect on the contemporary

practice of real estate.

Firms with limited ICT usage Firms with limited ICT usage

Response Fo Fe Fo Fe Total

Yes 65 52.5 40 52.5 105

No 5 17.5 30 17.5 35

Total 70 70 140

Formula for expected frequency is

Fe = (Row total X column total)

Grand Total

Where fe = Expected Frequency

R = Total for row

C = Total for column

T = Grand total

Substituting for the above values we have

Fe = 105 x 170 = 52.5 140

Fe = 35 x 70 = 17.5 140

Fe = 105 x 70 = 52.5 140 Fe = 35 x 70 = 17.5 140

72

Table 4.2.1 Firms with limited ICT usage

Response Fo Fe fo-fe (fo-fe)2 (fo-fe)2/fe

Yes 65 52.5 12.5 156.25 2.9

No 5 17.5 -12.5 156.25 8.9

11.8


Table 4.2.2 Firms with significant ICT usage


Yes 40 52.5 -12.5 156.25 2.9

No 30 17.5 12.5 156.25 8.9

11.8


Total = 23.6

Degree of freedom (df) = 1

Level of significance = 0.05

Calculated (x2) = 23.6

Critical value or table value of (x2) = 3.841

X2 C>X2T

23.6>3.841

73

Decision

Since the calculated chi-square (x2) which is 23.6 is greater than the

critical value 3.841, we accept the alternative hypothesis (Hi) and reject the

null hypothesis (Ho). This implies that the application of ICT in real estate

practice has enhance potential development of contemporary practice of real

estate.

Hypothesis Two

Ho: There is no significant relationship between the trends in information

and communication technology and real estate practice.

Hi: There is a significant relationship between the trends in information

and communication technology and real estate practice.

Test of Data

The data for verification of hypothesis two is given below:

4.2.2: Do the trends in information and communication technology application in real estate practice have effect on the contemporary practice of real estate. Table 4.2.3 Firms with limited ICT usage Firms with limited ICT usage


Yes 30 40 60 45 90

No 40 25 10 25 50

Total 70 70 140

74


Fe = (Row total X column total) Grand Total Where fe = Expected Frequency

R = Total for row


T = Grand total


Fe = 90 x 70 = 45 140

Fe = 50 x 70 = 25 140

Fe = 90 x 70 = 45 140 Fe = 50 x 70 = 25 140

Table 4.2.4 Firms with limited ICT usage


Yes 30 45 -5 225 5

No 40 25 15 225 9

14


75



Yes 60 45 15 225 5

No 10 25 -15 225 9

14


Total = 28



Calculated (x2) = 28


X2 C>X2T

28>3.841

Decision

Since the calculated chi-square (x2) which is 28 is greater than the


null hypothesis (Ho). This implies that the trends in real estate practice has

increased the potential development of contemporary practice of real estate.

76

Hypothesis Three

Ho: There is no significant relationship between low information and


Hi: There is no significant relationship between low information and


Test of Data

The data for verification of hypothesis three is given below:

4.1: What is the level of information and communication technology

adherence in the contemporary practice of real estate?

Table 4.2.6

Firms with limited ICT usage Firms with limited ICT usage


Yes 69 49.5 30 49.5 99

No 1 20.5 40 20.5 41

Total 70 70 140


Fe = (Row total X column total) Grand Total

77

Where fe = Expected Frequency

R = Total for row


T = Grand total


Fe = 99 x 70 = 49.5 140

Fe = 41 x 70 = 20.5 140

Fe = 99 x 70 = 49.5 140 Fe = 41 x 70 = 20.5 140 Table 4.2.4 Firms with limited ICT usage


Yes 69 49.5 19.5 380.25 7.7

No 1 20.5 -19.5 380.25 18.5

26.2




Yes 30 49.5 -19.5 380.25 7.7

No 40 20.5 19.5 380.25 18.5

26.2


Total = 52.4

78



Calculated (x2) = 52.4


X2 C>X2T

28>3.841

Decision

Since the calculated chi-square (x2) which is 52.4 is greater than the


null hypothesis (Ho). This implies that level of ICT adherence in

contemporary practice of real estate is low. Hence the practitioners are not

able to use the existing computer software and hardware packages in real

estate practice.

79

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.0 INTRODUCTION

This study assessed the application of Information and

Communication Technology in Real Estate Practice – A case Study of Lagos

Metropolis. In this chapter, is the discussion of findings. The findings are

related to the current body of theory as presented in the literature review.

The conclusions are based on the findings of the research.

Recommendations are also made at the end of the chapter.

5.1 SUMMARY

Following the collection and analysis of data, some pertinent findings

were registered. They include among others:

(i) That information and communication technology (ICT) application

has helped in expanding and facilitating the development of

contemporary practice of real estate in Nigeria. In fact, from the

analysis of data, it was found that 105 respondents representing 75%

agreed that the application of ICT has enhanced the contemporary

practice of real estate in Nigeria while 35 respondents representing

25% are against the view that ICT application has enhanced the

80

practice of real estate. It was also revealed that mobile phones are now

used for communication via text messages which has helped improved

communication in the course of everyday assignments. Field staff can

now make immediate contact with home office of principal partners

when issues arise while out in the field.

The application of ICT enables proper documentation of virtually

everything about a property, information about the owners,

construction details, photographs, sketches, lease agreement including

financial records of receipts, and payments. Information about any

property can be called up at any time and in a variety of ways, it can

also be programmed with handy reminders-shortlists of which

administrative actions are due or are pending at all times, reducing the

incidence of failing to keep appointments or sending out belated

reminders. Notices and reminders to tenants are now made via the

internet, also the process of negotiation for rent renewals is properly

documented and saved on the computer for future reference.

The issue of distance is completely removed with ICT as properties

are advertised on the firms websites or any other property related

websites, where it immediately becomes available to the whole world.

In terms of viewing, actual physical visits to the site which are often

81

frustrated by distance, traffic jams or inclement weather is replaced

with a video of the external and internal views of the property which

may be accesses either online, on a laptop or in an office desktop

computer.

(ii) That the trends of information and communication technology (ICT)

application have enhanced the growth and development of

contemporary practice of real estate in Nigeria. From the data

analysis, we found that 90 respondents representing 64.3% agreed that

the trends of ICT application have enhanced the growth and

development of real estate practice in Nigeria. While 50 respondents

representing 35.7% disagreed with the view that the trends in ICT

application have enhanced the growth and development of

contemporary practice of real estate.

It was also revealed that it is now possible for more practitioners than

ever to collaborate and transact business in real time with other

practitioners on more different kinds of work. From different corners

of the planets and on a more equal footing than at any previous time in

the history of real estate practice using computer, e-mails, fiber optics,

networks, teleconferencing, dynamics, decision support system (DSS),

geographic information system (GIS).

82

(iii) That information and communication technology resources can be

effectively harness to improve real estate practice by mainstreaming a

robust ICT programmed/topic into estate management curriculum in

higher institutions. From the data analysis we found that 85

respondents representing 60.7% indicated mainstreaming a robust ICT

programmed/topics into estate management curriculum in higher

institutions. While 55 respondents representing 39.3% indicated

organizing seminars, workshops, symposium in real estate firms.

Deductive evidence showed that information and communication

technology courses are offered to students in a very general way and

on an awareness level only. This might have been sufficient in the

past where the dependence of the corporate world in ICT was not as

high as it is in Nigeria today. The applications elements where

students are introduced to specific professional software and grounded

in its use is not very effective due to lack of capacity and professional

software developed in line with local practice procedure. Hence, to

effectively harness ICT resources, to improve real estate, there is need

to mainstream robust ICT programmed/topics into each particular

course where required in such a manner that students can grasp,

83

assimilate and apply the techniques in a meaningful and sustainable

way.

(iv) That the levels of information and communication technology

adherence in some real estate firms are low. From the data analysis,

we found that 99 respondents representing 70.7% indicated low level

of ICT adherence in real estate practice. While 41 respondents

representing 29.3% indicated high level of ICT adherence in real

estate practice.

Evidence showed that there is a low adherence to the radical prospects

of ICT within real sector in the study area. This low adherence is

caused by a combination of factors such as political, economic,

financial and educational factors. Good numbers of estate surveyors

interviewed are not computer literate, and some of the real estate firms

are not aware of the existing computer packages to facilitate

computations in investment valuation, development appraisal,

commercial residential agency etc. If adequate remedy is not taken to

embrace the innovations of information and communication

technology (ICT), real estate profession may rapidly fritter away her

influence to other related and competing profession.

84

5.2 CONCLUSION

From the findings of this study it can be safely concluded as follows:

(i) That information and communication technology (ICT) application

has helped in expanding and facilitating the development of

contemporary practice of real estate in Nigeria. ICT has significantly

changed the way real estate professionals adopt in marketing

properties and service and the extent to which practitioners can get

directly involved in the heterogeneous real estate market. Business

survival is becoming more closely tied to real estate sales firm’s

abilities to adapt to technological changes and to use technology to

attract customers. Through much debate and careful consideration,

along with variety of successes and mistakes, the real estate practice

has been adapting itself to take advantage of the internet over the past

years. With such explosive growth in electronic commerce, a number

of industries, including real estate, are leveraging themselves to

benefit from this new technology.

(ii) That the trends in information and communication technology (ICT)

application has enhanced the growth and development of

contemporary practice of real estate in Nigeria as it is now possible

for more practitioners than ever to collaborate and transact business in

85

real time with other practitioners on a more different kinds of work

from different corners of the planets and on a more equal footing than

at any previous time in the history of real estate practice using

computer, e-mails, fiber optics, networks, teleconferencing, dynamics,

decision support system (DSS) geographic information system (GIS)

and (LIS).

(iii) That there is a low adherence to the prospects of information and

communication technology within real estate sector in Nigeria. This

low adherence is caused by a combination of factors such as political,

cultural, economic, financial and educational factors. Good numbers

of estate practitioners interviewed are not computer literate.

(iv) That information and communication technology resources can be

effectively harnessed to improve real estate practice by mainstreaming

a robust programmed/topics into estate management curriculum in

higher institutions Webb (2000) found that education before licensing

to practice remains the single most important thing that could be done

to enhance professional image of real estate practice.

Information and communication technology has completely enhanced

real estate practice, but in Nigeria; there is room for improvement. A simple

example is the use of mobile phone for communication via text messages,

86

which has helped improve communication in the course of everyday. Field

staff can make immediate contact with the home office of the principal

partner when issues arise while out in the field. In the past, such staff would

have had to return to base to deal with such issues. The use of computers and

internet has also made it possible for firms to operate several branches apart

from their head offices with more ease than previously was the case.

Professional reports may be vetted online and exchange of

documented information has been greatly enhanced. Real estate

professionals can now use internet to send up-to-date information to

potential client at very low cost, accurately and quickly. The internet has

also helped the practitioners increase sales, save time and provide a

noticeably higher level of services to both buyer and sellers. Virtual “model”

homes can be distributed on CD-ROM very much like brochures, and can be

accessed directly through the internet. Some of the general business

applications programmed that are available on most operating systems such

as windows and spreadsheets, databases, word processors, and computer-

aided design programmes.

As a profession that is relevant to all these other professionals at work

in the construction industry, there is an urgent need to remain at par with the

rest industry by a gradual shift from overdependence on traditional filing

87

cabinets and pocket calculators to the sophistication of computer technology.

The time is now ripe for estate surveyors and valuers to quit paying lip

service to this all important issue and take on the challenge to see that within

the next few years, practicing surveyors are fully trained and sufficiently

literate to use computers in every aspect of their professional practice.

The computerization process and the move towards automation at all

levels of real estate practice is a collective responsibility of the estate

surveyors and valuers registration board of Nigeria. The Nigeria Institute of

Estate Surveyors and Valuers, Universities and other higher institutions as

well as the individual valuers as part of his/her personal continuous

professional development efforts.

5.3 RECOMMENDATIONS

In the light of the foregoing the summary of findings and conclusion,

the following suggestions are proffered to ensure that real estate

practitioners embrace the use or application of information and

communication technology in various real estate practice.

(i) The first port of call should be the institutions of higher learning

where the initial introduction to estate management is being made.

The curriculum should be overhauled to include extensive ICT

88

training in terms of its theoretical and practical aspects. If the present

crops of aspiring estate surveyors and valuers benefit from this

review, it will go a long way in reducing the costs and burden of

training staff by the estate firms. It will also provide better job

opportunities for the young professionals. The present curriculum

does not prepare the undergraduate for real life experiences. At every

step the students should be allowed to meet the real experiences of

life; the thorns should never be plucked from his roses.

(ii) The Nigeria institutions of estate surveyors and valuers should

organize seminars, continuing professional development (C.P.D) and

workshops including demonstration of the relevance of information

and communication technology applications to real estate practice.

This will go a long way in educating the professionals who did not

have a chance to learn and also update others who have the basic

skills. Practicing surveyors should send their staff to these workshops

and seminars to grasp the real life application.

(iii) The Nigeria institution of estate surveyor and valuers should launch

extensive research into the relevance of information and

communication technology application in real estate practice by

approving funds for the research committee to carry out such

89

educational research. Data gathered from such research will serve as a

fundamental base for learning and from where more estate surveyors

may have insight into the benefits that abound in the use of ICT.

(iv) Acquisition of infrastructure: The major complaint of estate firms who

are not presently computerized is the cost of acquiring the equipment.

They wonder if it cost-effective, if it will be as efficient as promised.

The foregoing arguments in favour of the electronic digital computer

have shown without a doubt that it is cost-effective. These firms do

not have to buy brand names like dell, apple, Toshiba, or Hewlett-

Packard to get the job done after locally assembled computers which

are cheaper can do the job as well for a start.

(v) The role of the institution: The Nigerian institution of estate surveyors

and valuers have roles to play in encouraging the use and adoption of

information and communication technology and other forms of

technology.

a. The institution should put legislation in place to make it mandatory

for real estate firms to make use of ICT in this 21st century. Other

professional bodies that are the pride and joy of the nation did not

start computerizing at will. They were given ultimatums to meet with

the standard set in place so as to compete globally.

90

b. The institution recently launched its own website, therefore it must

realise the importance of its relevance. The institution can offer free

access to the internet and a range of other related benefits for a

specified period which will cut operating costs and make email the

primary method of communication between practicing firms till they

can pay for such services.

(vi) Academic staff responsible for teaching core departmental courses

who may need to mainstream ICT into various aspects of the syllabus

lack the capacity to do so and need to be trained or retrained to enable

them update the course content in such a way that ICT is fully

integrated.

(vii) To make ICT more relevant, useful, appreciated and easily understood

in real estate practice, there is need to mainstream relevant ICT

topics/programmed into each particular course where required in such

manner that students can grasp and apply the techniques in a

meaningful and sustainable way.

(viii) Development Appraisal/Investment Analysis rely heavily on

mathematical computations and manipulation of data in a meaningful

way to achieve the desired result. Computer should form the basic

teaching tool for this subject by the use of dedicated professional

91

software as well as the adaptation of spreadsheets to suit specific

requirements. A situation where students are taught ICT separately

from its use and application is more difficult to make the connection

between both subjects.

(ix) Practicing estate surveyors and valuers should as a matter of necessity

and absolute urgency undertake courses in computer science. This

way, they will become more abreast with what ICT (computer) can do

and what it cannot do. By so doing, they can enjoy the benefits of ICT

(computer). More importantly, a standardize computer valuation

packages should be developed and made universal to replace the

existing valuation table.

(x) The public sector, private sector and corporate sector need to have an

extensive audit done to ascertain their capacity building needs within

the context of ICT. The results of such an audit should form the basis

for the development of ICT programmes designed for the surveyors.

(xi) There is an urgent need for the development of professional software

and hardware packages in real estate practice that will accurately

reflect the local practice method.

(xii) Standardisation of professional practice is required as real life

problems cannot be solved easily without proper diagnosis of

problems and the introduction of standards.

92

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APPENDIX 1

QUESTIONNAIRE

University of Nigeria Enugu Campus Department of Estate Management Faculty of Environmental Studies

Sir/Madam, I am a postgraduate student of Estate Management Department, University of Nigeria, and Enugu Campus. I am currently carrying out a research work titled, “Assessment of the Application of Information and Communication Technology in Real Estate Practice.” I humbly request your assistance towards the success of this study by objectively completing this questionnaire. Please, be assured that every information supplied will be treated in utmost confidence. Note also that this research is purely for academic purpose and would not under any circulstnace be used otherwise. Thanks.

Yours faithfully, HALIM HENRY .C. RESEARCH QUESTIONNAIRE

99

Instruction: Please, tick [ √ ] where appropriate.

SECTION A: PERSONAL DATA

Sex: Male [ ] Female [ ]

Marital Status: Married [ ] Single [ ] Divorced [ ]

Religion: Christianity [ ] Muslim [ ] Others [ ]

Qualifications: HND [ ] MS.c [ ] Ph.D [ ]

1. Does ICT application have a role in supporting and enhancing real

estate practice? Yes [ ] No [ ]

2. Information and communication technology application contribute

towards the development and growth of real estate practice?

Yes [ ] No [ ]

3. Without ICT application, there will be no improved standard of real

estate practice. Do you agree? Yes [ ] No [ ]

4. In your own view do you believe that ICT application play a vital role

in enhancing the standard of real estate practice? Yes [ ] No [ ]

5. What extent do you apply ICT in running your office?

(a) Preparing letters, reports and other documents [ ]

(b) Sourcing of property [ ]

(c) Sending mails [ ]

(d) Advertising of properties [ ]

6. How would you access your practice with the use of ICT application

with none use of ICT application?

(a) No change [ ]

(b) Great change [ ]

(c) Little change [ ]

7. What is the degree of information and communication technology

adherence in real estate practice in your firm?

100

(a) High [ ]

(b) Moderate [ ]

(c) Low [ ]

8. Are firms with ICT application better in the practice than firms

without its application? Yes [ ] No [ ]

9. Does the application of ICT resources enhance the development of the

contemporary practice of real estate? Yes [ ] No [ ]

10. Is any of these ICT software systems used in your establishment?

S/N Software System Yes No %

1.

2.

3.

4.

5.

6.

Spreadsheet

Database management system

Word processing

Time line/internet

Statistics packages

Computer-aided design

11. If you apply any of all the above components of ICT in your firm,

what is the difference between now that you apply it and when you

don’t?

(a) No change [ ]

(b) Greater turn up of clients [ ]

(c) High standard of practice [ ]

12. Do you use computer information systems for maintaining real estate

database? Yes [ ] No [ ]

13. What has been the comment of clients since the application of ICT in


(a) No comment [ ]

101

(b) Impressive change [ ]

(c) Excellent change [ ]

(d) No change [ ]

14. Does the trends in ICT application have effect on the contemporary

practice of real estate in your firm? Yes [ ] No [ ]

15. Can ICT application be an impediment to real estate practice?

Yes [ ] No [ ]

16. ICT impacts on real estate productivity. Do you agree?

Yes [ ] No [ ]

17. What are the key drivers and barriers to ICT implementation in real

estate sector?

(a) Lack of basic knowledge of ICT by estate valuers

(b) High cost of purchasing ICT equipments

(c) Unavailability of finance for ICT installation

18. Does the application of ICT in real estate practice provide a

framework for consistent and uniform evaluation in your firm?

Yes [ ] No [ ]

19. Does the application of ICT have effect on real estate practice?

Yes [ ] No [ ]

20. What is the objective of your internet presence?

(a) Promote firm’s brand [ ]

(b) Generate new listings [ ]

(c) Attract buyers [ ]

(d) Provide information and advice [ ]

(e) Minimize transaction costs [ ]

21. How can the government assist in alienating the problem of ICT

application in real estate practice?

102

(a) Making ICT equipment affordable [ ]

(b) Ensure regular power supply [ ]

(c) Reduce duties on computer importation [ ]

(d) All of the above [ ]

22. Has your firm ever presented any report in electronic format?

Yes [ ] No [ ]

23. Do you recommend the application of ICT in real estate practice?

Yes [ ] No [ ]

24. How can the resources of ICT be effectively harnessed to improve


(a) Mainstreaming a robust ICT topic/programmed into estate

management curriculum [ ]

(b) Creating awareness of the use of ICT through seminars,

symposia and workshop [ ]

(c) All the above [ ]

25. What are the problems your firm face as a resulted of manual

operation?

(a) Data storage and retrieval is inefficient [ ]

(b) Information about properties is duplicated [ ]

(c) None standard valuation report [ ]

(d) Delay in meeting up deadline [ ]

26. In your opinion, do you think ICT application has improved the

activities of the firm? Yes [ ] No [ ]

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