Graph-Theoretic Approach to Resolving the Accessibility and Site Selection Issues in Planning and Development

The basic goal of an investment in real estate is to make the highest positive net return possible, and the process of attaining this commences at the site selection stage with accessibility being of paramount consideration. Many investors, appraisers, planners and developers often base site selection and analysis of accessibility on intuition and mere physical observation of neighborhoods without scientific approach The aim of this study is therefore to examine the application of graph-theoretic analysis in resolving the challenge of improper site selection process and accessibility issues in real estate planning development. In attaining the aim, the satellite map of the study area was derived and converted into linear graph regardless of the width, length and quality of roads. The nodal points of roads that form the network were serially numbered and translated into simple matrix of the number to obtain the accessibility indices for the ranking of access routes in the study area. The study found that the graph-theoretic approach was useful in analyzing ami resolving the accessibility and site selection issues 111 real estate development p1ocess. The findings would provide better understanding of determination of accessibility which hithel1o had been done by mere intuition by real estate appraisers and planners through the application of the approach This is applicable to inform developers take decision relating to choice of locations by scientifically establishing the most accessibilily location and thus assists in site selection Also, it would assist the development appraisers in the ranking of several of locations along al1erial routes with a view to determining sustainable physical developments

Examination of Estate Marketing Practices in Ikeja, Lagos, Nigeria

Estate marketing is an aspect of the profession of Estate Surveying and Valuation in Nigeria. Previous studies on estate marketing identified that there are challenges affecting estate marketing and the resultant effect on these challenges affects the credibility of the profession of Estate Surveying and Valuation in Nigeria. This necessitates the need to examine the practice of estate marketing in Nigeria. This study examined estate marketing practice among estate surveyors and valuers in Ikeja, Lagos Nigeria. The sample size for the study is the 64 registered Estate Surveying and Valuation firms in the study area. Data gathered were analyzed using descriptive statistics and 5-point likert ordinal scale. Findings from the study revealed that the use of brochure or bulletin is the most common estate marketing method in the study area. Also, it was revealed from the study that the use of press is the most cost effective method of estate marketing in the study area. The study identified the various challenges of estate marketing. However, collection of double professional fees is the most prevalent challenge of estate marketing in the study area. Finally, aggressive marketing which leads to unethical practices is the most prevalent mitigating measures adopted by Estate Surveyors and Valuers in the study area. Recommendations were made on how to review the ethical regulations guiding the practice of Estate Surveying and Valuation which will consequently improve marketing in the study area