Assessment of Real Property Valuation Standards and Practice in Bauchi State

This study assesses the standards and practice of real property valuation in Bauchi State, North East Nigeria, examining the methods applied by practising estate surveyors, the challenges they encounter, and the extent to which practice conforms to professional standards set by the Nigerian Institution of Estate Surveyors and Valuers. Reliable property valuation is fundamental to efficient real estate markets, mortgage finance, and taxation, yet valuation practice in many Nigerian states outside the major urban centres has received limited academic scrutiny. The study employs a qualitative descriptive design, conducting structured interviews with 25 registered estate surveyors practising in Bauchi Metropolis and surveying 10 major client organisations including banks, insurance companies, and government agencies about their experiences commissioning valuations. The NIESV's Practice Standards and Code of Ethics serve as the assessment framework. Findings reveal that the majority of valuations in Bauchi use the comparison method, with limited market data availability identified as the primary methodological constraint due to low formal property transaction volumes and poor data recording by the state's land registry. Many practitioners acknowledge reporting values that exceed supportable market evidence to satisfy client expectations, a significant ethical concern. Professional indemnity insurance coverage is absent in most smaller practices. The study recommends a structured market data collection initiative led by the Bauchi NIESV chapter, mandatory professional development training on valuation ethics, and stronger chapter-level oversight of members' practice standards. Keywords: property valuation, valuation standards, estate surveyors, Bauchi State, NIESV.