P- Compendium of Real Estate Terms & Concepts

Professional responsibility behoves on the professional to act in a professional manner, obey the law, avoid conflicts of interest and put the interests of clients ahead of their own interests. The concept of professional liabilities and responsibilities as applicable under professional practices are to:

Negligence (Lat. negligentia, from neglegere, to neglect; it is a failure to exercise the care that a reasonably prudent person would exercise in like circumstances. The idea of negligence is that people should exercise special care when they act by taking account of potential harm they will cause to another…

Businessdictionary.com defines misconduct as behaviour outside the bounds of what is considered acceptable or worthy of its membership by the governing body of a profession. In this regard, professional misconduct could be seen as contravening a standard of practice of the profession or failing to meet the standard of practice…

Simply put, malpractice refers to negligence or misconduct by a professional person. In law, malpractice is a type of negligence in which the professional, who is under a duty to act, fails to follow the generally accepted professional standards or ethics.

There is a need for professional ethics and code of conduct for Estate Surveyors and Valuers so as to guide the discharge of services to the general public as well as to curb any unethical behaviour. Consequently, the regulating body, the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON),…

• Professional: A professional is a person who has acquired specialized knowledge, training and skill approved, recognised and registered to carry out, individually or collectively, the vocation of the profession.

Abuse is the improper usage, or treatment for a bad purpose, often to unfairly or improperly gain benefit, physical or verbal maltreatment, injury, sexual assault, violation, rape, unjust practices, wrongful practice or custom, offense, crime, or verbal aggression. Abuse can come in many forms.

A professional has the following attributes: • A professional is a member of a vocation founded upon specialised educational training.

ISO 9001: 2000 defines process as a set of interrelated or interacting activities which transforms inputs to outputs. Anjard (1998) and Hamid, Baldry & Alexander (2008) describes a process as a series of activities (tasks, steps, events, operations) that takes an output, adds value to it, and produces an output…

Privatisation is simply the transfer of state control or ownership to the private sector. Savas (n.d.) in (Nubi, 2002), widely regards as the father of privatisation movement, define privatisation as “more reliable on the private sector institution and less on government to satisfy needs”. Entrepreneur skills, efficiency in management, the…