Estate surveyors and valuers in Nigeria have been called upon to embrace digital transformation and position themselves at the forefront of technology-driven real estate practice. The appeal came from Mr Dotun Bamigbola, former chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch, during a recent industry summit.
Technology as Empowerment Tool for Valuers
Bamigbola strongly dismissed growing concerns that automation and artificial intelligence might replace human valuers in the profession. "Technology is not replacing valuers, but empowering them" to deliver more efficient and credible professional services, he emphasized during his presentation.
Speaking at a masterclass during the NIESV Lagos summit held on November 10, 2025, Bamigbola addressed the theme "Tech-Driven Valuation: Geographical Information System, Artificial Intelligence, and Automated Valuation Models (AVMs) for Real Estate Professionals and Investors." He explained that digital tools are fundamentally reshaping the real estate landscape by enhancing accuracy, speeding up transactions, and building investor confidence.
According to the senior partner at Bamigbola Consulting (BC), the future of valuation lies in hybrid models where technology complements human expertise rather than replacing it. He noted that professionals who adopt AI and blockchain-based systems are better positioned to improve transparency and credibility in Nigeria's property markets.
Digital Transformation Benefits and Challenges
Bamigbola highlighted the significant advantages technology brings to valuation processes. "Valuation is the backbone of real estate decisions," he stated, pointing out that traditional methods relying on manual inspections, comparable analysis, and income approaches are often time-consuming and subjective. With technology, valuation is becoming faster, smarter, and more transparent.
The technology opportunities for real estate professionals and investors include:
- Faster decision-making in acquisitions and disposals
- Improved portfolio monitoring
- Enhanced due diligence processes
- Access to global network of data-driven investors seeking transparent valuations
However, Bamigbola also identified several challenges in adopting technology, particularly:
- Data availability and reliability issues in emerging markets like Nigeria
- Regulatory acceptance of AI and AVM-based valuations
- Cybersecurity and data privacy concerns
He advocated for a balanced approach that combines technology with professional oversight to ensure accuracy and ethical compliance in all valuation activities.
AI and GIS Revolutionizing Property Assessment
Bamigbola explained that AI's role in valuation now extends beyond simple automation. The technology helps valuers detect patterns, forecast trends, and manage risks more effectively. "AI learns from data to predict outcomes," he noted, detailing how it supports predictive analytics for price trends, natural language processing for reviewing lease agreements, and image recognition for assessing property conditions through photos and drone surveys.
By reducing human bias and providing real-time insights, AI can handle large datasets beyond human capacity. From the investor's perspective, Bamigbola added that AI can identify undervalued assets within portfolios, offering a competitive edge in fast-moving markets.
On Geographic Information Systems (GIS), Bamigbola explained how this technology enables mapping of property locations with demographic overlays, analysis of land-use patterns, flood risks, and accessibility assessments. GIS also supports site selection, market intelligence, and urban planning by integrating spatial and economic data.
The technology enhances valuation accuracy through location-adjusted comparables, visual insights for stakeholders, and integration with big datasets including transportation networks, schools, and local amenities.
"Technology has transformed how we see, evaluate, and interact with real estate," Bamigbola concluded. "But while the tools are powerful, the professional remains indispensable. The future belongs to valuers who can combine technological fluency with sound judgment and ethical responsibility."
He urged NIESV members to adopt innovation, pursue continuous learning, and collaborate with data scientists and tech developers to future-proof their practice. Bamigbola emphasized that in the digital era, competence and credibility, not fear, should define the valuers' role in Nigeria's evolving real estate sector.
