PRICING OF PROPERTY VALUATION SERVICES IN KANO: THE SYSTEMS AND EFFECTS ON VALUATION PRACTICES

ABSTRACT This study investigates the pricing systems for property valuation services in Kano, Nigeria, recognizing that accurate and transparent valuation is fundamental to the real estate market and critical for sales, investments, mortgages, and taxation. The aim of the study is to examine the factors influencing pricing systems among valuation firms with the broader objectives to assess their impacts on valuation practices, and identify challenges faced by professionals. Data were collected through a structured questionnaire administered to a sample of 39 property valuation firms selected from an estimated population of 65 registered firms operating within Kano Metropolitan City. Out of the 39 questionnaires distributed, 28 were properly completed and returned, forming the basis of analysis. A descriptive survey design was adopted, with quantitative methods applied to analyze the data, using frequency tables, percentages to interpret the responses using a L,descriptive content analysis. The findings reveal that while structured pricing systems are present, informal competition, regulatory weaknesses, and economic volatility substantially influence pricing practices. The study also notes a dominance of male professionals and the widespread presence of sole proprietorships within the sector. Based on these results, it is recommended that regulatory bodies strengthen enforcement measures, promote the adoption of standardized pricing frameworks, encourage the integration of technology into valuation practices, implement professional development programs, and develop initiatives to address gender imbalance. These strategies are essential to enhance transparency, professionalism, and the sustainable growth of the real estate valuation sector in Nigeria.