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Article
Publication date: 8 April 2024

Rotimi Boluwatife Abidoye, Chibuikem Michael Adilieme, Albert Agbeko Ahiadu, Abood Khaled Alamoudi and Mayowa Idakolo Adegoriola

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it…

Abstract

Purpose

With the increased demand for the application of technology in property activities, there is a growing need for property professionals adept in using digital technology. Hence, it is important to assess the competence of academia in equipping property professionals with digital technology skills. This study, therefore, assesses property academics in Australian universities to identify their level of knowledge and use of digital technology applicable to the property industry.

Design/methodology/approach

Online questionnaire surveys were administered to 22 out of 110 property academics contacted through the Australia Property Institute (API) database to achieve this aim. The collected data were analysed using mean score ranking and ANOVA.

Findings

The study found that apart from databases and analytics platforms such as Corelogic RP data, price finder and industry-based software such as the Microsoft Office suite and ARGUS software, the academics were not knowledgeable in most identified and sampled proptech tools. Similarly, most proptech tools were not used or taught to the students. It was also found that early career academics (below five years in academia) were the most knowledgeable group about the proptech tools.

Research limitations/implications

Relying on the API database to contact property academics potentially excludes the position of property academics who may not be affiliated or have contacts with API, hence, the findings of this study should be generalised with caution.

Practical implications

The study bears huge implications for the property education sector and industry in Australia; a low knowledge and use of nascent tools such as artificial intelligence, machine learning, blockchain, drones, fintech, which have received intense interest, reveals some level of skill gap of students who pass through that system and may need to be upskilled by employers to meet the current day demand.

Originality/value

In response to the clamour for technology-inclined property professionals, this paper presents itself as the first to assess the knowledge levels and application of digital technology by property academics.

Details

Property Management, vol. 42 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 30 July 2024

Chibuikem Michael Adilieme, Rotimi Boluwatife Abidoye and Chyi Lin Lee

Blockchain is an emerging digital technology proposed and trialled among different built environment professions. The technology has been proposed to introduce transparency…

Abstract

Purpose

Blockchain is an emerging digital technology proposed and trialled among different built environment professions. The technology has been proposed to introduce transparency, security and trust in property transactions. Despite this proposition, few studies have analysed the barriers and prospects in property valuation, especially in markets plagued by low transparency and a lack of stakeholder trust. Using Nigeria as a case study, this study assesses the barriers and prospects for adopting blockchain technology in property valuation.

Design/methodology/approach

Data was collected from 180 valuers practising in Nigeria through an online survey, and the data was analysed using mean score ranking and the chi-square (χ2) test of independence.

Findings

Firstly, there was a low awareness of the application of blockchain technology and an association between the number of valuation jobs executed annually and awareness of the application of blockchain technology. The most important barriers revolved around the knowledge, technical know-how of blockchain and the cost of implementing such technology. The prospects for blockchain are very high as all identified prospects were considered important, with transparency being the most crucial factor for its adoption, followed by the monitoring activities in real time and the permanence in storing records.

Research limitations/implications

This study's implications lie in the potential benefit of transparency identified for blockchain, which could act as a tool to introduce transparency into valuation industries that battle key issues surrounding transparency and trust. Furthermore, this study can be utilised by policymakers and property industry players in mapping strategies to adopt the beneficial use of blockchain as one among the suite of proptech tools disrupting the property valuation scene, in their practice. This also presents an opportunity to draw upon insights from this study to better prepare for using blockchain in property valuation.

Originality/value

This study appears to be the first to empirically assess barriers and prospects for blockchain in property valuation practice. It contributes to the literature by identifying key factors that will deter and/or promote the application of blockchain, an emerging and disruptive digital technology.

Details

Journal of European Real Estate Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 12 December 2023

Chibuikem Michael Adilieme, Rotimi Boluwatife Abidoye and Chyi Lin Lee

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study…

Abstract

Purpose

Given the significant role played by valuers and the evidence of a lack of independence in some property valuation industries, particularly in emerging markets, this study analyses the issue of client influence in property valuation by providing a valuer-client perspective and measuring the interrelationships between the clients' influence factors to identify causal factors of prominence, which can assist in developing solutions to address the clients' influence issue.

Design/methodology/approach

The study used a mixed-method approach. Firstly, interviews were conducted with ten property valuers and five financial institution staff in Nigeria, and the data were subject to thematic analysis using Nvivo 12 software. A matrix questionnaire survey was administered to the valuers, and the responses were analysed using the fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL) method.

Findings

The results indicate that institutional clients, loan-seeking customers, property valuers and the perception of corruption within the Nigerian environment fuelled the issue of clients' influence. Based on the measurement of the interrelationship between the 14 identified client influence factors, the type of company, perception the public has of the industry, size of the firm, relationship with the client, type of client and regulatory framework were the factors of prominence.

Practical implications

The findings of this study bear huge implications for Nigeria and other similar structured property markets facing the issue of clients' influence in property valuation. With the prominent factors bearing root in a mix of client, valuer and environmental factors such as the valuation structure, process and public perception, there is a need for solutions that level the playing field between institutional clients and valuers, reinforce transparency and establish excellent regulatory standards to address the issue of clients' influence.

Originality/value

This study is the first to measure the interrelationships between the clients' influence factors to identify the prominent causal factors. Accordingly, considering the multi-factors, the research is novel as it focusses on those factors that would likely lead to other factors, thereby providing opportunities to develop solutions that focus on those factors of prominence. Secondly, the study deviates from the narrative on clients' influence in property valuation, which pits it as solely a client or valuer factor, by showing how the interplay of the stakeholders' interests and the environment promotes the issue in a non-transparent property market.

Details

Journal of Property Investment & Finance, vol. 42 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 12 December 2022

Abood Khaled Alamoudi, Rotimi Boluwatife Abidoye and Terence Y.M. Lam

The smart sustainable cities (SSC) concept has a wide acknowledgement amongst governments and societies that deal with emerging technology and help in developing better urban…

Abstract

Purpose

The smart sustainable cities (SSC) concept has a wide acknowledgement amongst governments and societies that deal with emerging technology and help in developing better urban communities. However, the fact that citizens' participation (CP) is not adherent to the current policies and governance often boosts their aspirations of decision-making to become smart cities. This paper aims to identify SSC variables and, more importantly, rank, categorise and discuss the factors towards implementing SSC by engaging, empowering and enabling citizens to participate in the urban development of SSC.

Design/methodology/approach

A comprehensive literature review identified 38 factors in the CP process. Those factors were used to design an online questionnaire administered to the respondents. A total of 164 valid responses were collected. A two-stage statistical analysis was adopted. First, the Relative Importance Index (RII) was used to rank and prioritise the importance of the factors that affect the current policies and agenda. Second, factor analysis was utilised to categorise and group those factors.

Findings

This study founds four significant factors that help in implanting SSC: “knowledge of smart sustainable cities”, “awareness of smart sustainable cities”, “willingness of the citizens to participate” and “opinion on the current agenda of the government's role”.

Research limitations/implications

This study has a few limitations which can be considered in future studies. First, the response rate of the participant is relatively low (163), so sampling a larger segment will support the broader perception of the citizens.

Practical implications

The outcome of this paper underlines the need for the successful implementation of smart cities by adopting CP in the process of impacting policies and governance. Particularly, it identifies factors that help cities and policymakers in engaging CP in developing new policies and revising existing policies for promoting SSC.

Originality/value

There is a need to investigate the most critical factors that influence CP for implementing SSC. These factors have not been adequately examined in extant literature.

Details

Smart and Sustainable Built Environment, vol. 13 no. 5
Type: Research Article
ISSN: 2046-6099

Keywords

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