Assessing Valuers’ Awareness and Understanding of The Green Book Standards in Property Valuation Reporting in Port Harcourt, Nigeria
This study examines the awareness and understanding of the Nigerian Valuation Standards, known as The Green Book, among valuers in the Port Harcourt property market. A mixed-methods approach was adopted, which combined a case study research design with quantitative surveys and qualitative interviews. A total of 128 questionnaires were administered with 113 completed and returned, supplemented by qualitative interviews with 20 estate surveyors and valuers. The study revealed a high level of awareness, with 95.6% of respondents indicating familiarity with The Green Book. However, there is a significant gap in understanding, as only 40.7% of valuers claimed to fully comprehend its contents. The findings highlighted a concerning disparity between awareness and practical application, suggesting that many valuers struggle to apply the standards accurately, which may lead to inconsistencies in property valuation reporting. Qualitative findings suggest that, despite frequent discussions in professional contexts, the lack of structured training on The Green Book contributes to a superficial understanding and potential misapplication of its guidelines. The study emphasized the need for enhanced training and self-study resources to bridge this knowledge gap and improve valuation practices. Ultimately, addressing these challenges is essential for ensuring the quality and reliability of property valuations in the region. Addressing these knowledge gaps is crucial to improving the quality, consistency, and reliability of property valuation reports in Port Harcourt.
Keywords: Green Book, Valuation Standards, Awareness, Knowledge, Valuation Reporting
