ICT Is Key; Taking The Real Estate Industry Online.

ICT Is Key; Taking The Real Estate Industry Online.

Information and Communication Technologies (ICTs) is a broader term for Information Technology (IT), which refers to all communication technologies, including the internet, wireless networks, cell phones, computers, softwaremiddleware, video-conferencing, social networking, and other media applications and services enabling users to access, retrieve, store, transmit, and manipulate information in a digital form.

ICTs refers to the convergence of media technology such as audio-visual and telephone networks with computer networks, by means of a unified system of cabling (including signal distribution and management) or link system. However, there is no universally accepted definition of ICTs considering that the concepts, methods and tools involved in ICTs are steadily evolving on an almost daily basis.

Today’s world is a world of information explosion. This information explosion is taking place in such a fast speed that even a literate person is feeling as if he or she is illiterate being not able to cope up with such an information explosion. ICT has built long term skills and research expertise knowledge for the undergraduate and post-graduate education, academics and researchers. Companies have now relied solely on ICT to advertise their services and products, place classified on-line service via websites, and Onyi Obiamalu Consults also render IT services (Website Development, Database Management Systems, Cyber Security, App Development and Digital Marketing). Onyi Obiamlu Consults creates a functional and dynamic website like e-commerce websites for clients and also carryout digital marketing on behalf of clients.

Information and communications technologies (ICTs) are transforming societies and fueling the growth of the global economy.  ICTs promote development across many dimensions.  At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.

The efficient use of information and communication technologies (ICT) is now a critical success factor for all modern firms and professional practices, because ICT enable higher productivity gains through speedier information creation, processing, acquisition and transfer, as well as driving new developments, innovations and globalization.

The major form of communication in the real estate industry is Information Technology (IT). Real estate service is an information intensive business that connects buyers and sellers of real estate through the acquisition, control and exchange of information. Onyi Obiamalu Consults, a Real Estate Agency/ Estate Surveying and Valuation Firm connects buyers and sellers (owners) of property and we do so through control and dissemination of information. 

Buyers and sellers (owners) of properties, as clients of real estate services, value the role of the services of real estate agency/ Estate Surveying and Valuation firms like Onyi Obiamalu Consults as intermediation Real Estate agents/ Estate Surveyors and Valuers, because of the information access, provision and management skills we bring to bear on property listings and facilitation of sales and purchases.

Information and communication technologies (ICT) have proven to be society’s versatile tool for creation and dissemination of information efficiently, which makes the adoption of ICT in modern real estate services imperative which is key.

The Estate Surveyors and Valuers/ Real Estate practitioners have adopted in taking the real estate industry online with the aid of Information Communication Technology (ICT).

Estate Surveying and Valuation as a profession gained limelight in Nigeria when in 1969; a group of qualified Chartered (General Practice) Surveyors formed what is known as the Nigerian Institution of Estate Surveyors and Valuers (NIESV) as a non-profit voluntary professional organization to cater for the interest of the profession in the Country. This group then sorts Government recognition. Six year later, it was accorded Government recognition by the promulgation of the Estate Surveyors and Valuers (Registration) Decree No. 24 of 1975, now CAP E. 13 LFN 2007. This legislation established Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON) as the regulatory body for the profession. Onyi Obiamalu Consults is a member of this great body ESVARBON.

The profession of Estate Surveying and Valuation means the art, science and practice of:

  1. Determining the value of all description of property, and the various interests therein.
  2. Managing and developing estate; and other business concerned with the management of landed property.
  3. Securing the optimal use of land and its associated resources to meet social and economic needs.
  4. Determining the structure and condition of buildings and their servicesand advising on their maintenance, alteration and improvement.
  5. Determining the economic use of the resources by means of financial appraisal for the building industry.
  6. Selling (whether by auction or otherwise), buying or letting as agent, real or personal property or any interest therein.

It is therefore common to see Estate Surveyors and Valuers providing professional service in areas of asset/ property valuation, property management, building construction, facilities management, etc. and Onyi Obiamalu Consults offer the above services.

As is already happening in developed economies, investments on the integrated application of ICT in real estate practice in an emerging economy like Nigeria is expected to boost service quality, customer satisfaction, corporate image and business profitability. Among the envisaged ICT applications are those for faster real estate information search, acquisition, processing and exchange, for real estate transactions, as well as for the marketing of real estate services through websites and social media, which are the digital age channels for reaching out to existing and potential clients. The use of ICT will ensure that customers are more satisfied with the quality of service, thereby promoting greater customer loyalty and new business. Moreover, effective utilization of ICT will help transform the ways real estate professionals carry out their roles, and expand the real estate sector.

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