Table of Contents
Abstract. 2
CHAPTER ONE.. 5
INTRODUCTION.. 5
1.1 Background to the Study.. 5
1.2 Statement of the Problem... 6
1.3 Objectives of the Study.. 8
1.4 Research Questions. 8
1.5 Research Hypothesis. 9
1.6 Significance of the Study.. 9
1.7 Scope of the Study.. 10
1.8 Limitations of the Study.. 10
1.9 Organization of the Study.. 10
1.10 Definition of Terms. 11
CHAPTER TWO.. 14
REVIEW OF RELATED LITERATURE.. 14
2.1 Introduction.. 14
2.2 Theoretical Review.. 15
2.2.1 Theory of Urban Growth and Real Estate Development. 15
This theory posits that real estate development is influenced by urban growth patterns, which are in turn shaped by factors such as infrastructure development, population growth, and economic activities. In suburban areas, these factors can significantly impact the demand and value of real estate.Assessing agency practice in Dammbata, Kano, and Kazaure involves evaluating how well agencies respond to and predict urban growth trends. This includes examining how they adapt their strategies to the evolving needs of the population and infrastructure developments in these suburban areas. Bruegmann, R. (2005).. 15
2.2.2 Institutional Theory.. 15
2.2.3 Behavioral Real Estate Theory.. 16
2.2.4 Socio-Spatial Theory.. 16
2.3 Conceptual Review.. 17
2.5 Summary of Literature Review.. 22
Chapter Three.. 23
Research Methodology.. 23
3.1 Introduction.. 23
3.2 Research Design.. 24
3.3 Study Area.. 24
3.4 Population of the Study.. 25
3.5 Sampling Techniques. 25
3.6 Data Collection Instruments. 25
3.7 Validity and Reliability of Instruments. 26
3.8 Data Collection Procedure.. 26
3.9 Data Analysis Techniques. 27
3.10 Ethical Considerations. 27
3.11 Conclusion.. 27
CHAPTER FOUR.. 28
DATA PRESENTATION, ANALYSIS AND INTERPRETATION.. 28
4.2 DATA ANALYSIS.. 28
4.4 Testing Hypothesis. 42
CHAPTER FIVE.. 48
SUMMARY CONCLUSION AND RECOMMENDATIONS.. 48
5.1 Summary of Findings. 48
5.2 Conclusion.. 49
5.3 Recommendations. 50
REFERENCES.. 52
BIODATA SECTION.. 54
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The study of agency practice in suburban areas is critical for understanding the dynamics of real estate markets in evolving regions. This paper focuses on assessing the practices of real estate agencies in two distinct but comparable suburban settings: Dammbata in Kano State and Kazaure in Jigawa State, Nigeria. These regions, representative of the broader trend of urban expansion and suburban development in Nigeria, offer a unique perspective on how agency practices impact real estate dynamics and local economic growth. As suburban areas become increasingly significant in national development plans, understanding these practices becomes essential for stakeholders, policymakers, and potential investors.
Dammbata and Kazaure present interesting case studies due to their contrasting yet complementary characteristics. Dammbata, located in Kano State, is characterized by its proximity to urban centers and growing infrastructural investments. Kazaure, on the other hand, in Jigawa State, offers insights into more rural suburban dynamics with a slower rate of development but significant potential. Analyzing agency practices in these two locations can shed light on how local real estate agents adapt to varying market conditions, manage client expectations, and navigate regulatory frameworks.
Existing literature highlights the importance of agency practices in shaping real estate markets. Research by Ogundare (2021) emphasizes that effective agency practices are crucial for market efficiency and client satisfaction in rapidly developing areas. Similarly, Akinyele and Alabi (2020) argue that understanding local market conditions and client needs are fundamental for real estate success. This study aims to build on these insights by exploring how agency practices in Dammbata and Kazaure align with or diverge from these broader trends.
The findings of this research are expected to contribute valuable insights into the relationship between agency practices and real estate development in suburban Nigeria. As highlighted by recent studies such as those by Bello and Mohammed (2022), there is a growing need for localized strategies that reflect the unique characteristics of suburban areas. Additionally, research by Umar and Yusuf (2023) underscores the importance of adapting agency practices to regional contexts to foster sustainable development. By analyzing these practices, this study will provide a comprehensive overview of the challenges and opportunities faced by real estate agencies in these suburban locales.
1.2 Statement of the Problem
The real estate market in suburban areas of Nigeria is undergoing significant transformations, with evolving agency practices reflecting the changing landscape of urban development. In Dammbata, Kano State, and Kazaure, Jigawa State, these transformations present both opportunities and challenges for real estate agencies. Despite the increasing importance of these suburban areas, there is limited empirical research on how local real estate agencies are adapting their practices to meet the demands of these developing markets. Issues such as the effectiveness of agency strategies, client satisfaction, and regulatory compliance in these specific contexts remain underexplored. This lack of detailed analysis creates a gap in understanding how agency practices influence real estate development and market efficiency in these suburban regions.
Previous studies have highlighted the critical role of real estate agencies in shaping market outcomes, yet there is a need for more localized research that examines how agency practices align with the unique characteristics of suburban areas in Nigeria. Research by Ogundare (2021) emphasizes the importance of localized agency practices in market efficiency, while Akinyele and Alabi (2020) note that understanding client needs is crucial for success in developing areas. However, these studies do not specifically address the suburban contexts of Dammbata and Kazaure. Therefore, this study aims to fill this research gap by assessing agency practices in these regions, providing insights into their impact on real estate development and identifying strategies for improving market outcomes.
1.3 Objectives of the Study
The main objective of the study is to examine An assessment of agency practice in suburban area study of dammbata Kano and kazaure jigawa . Specific objectives of the study are:
- To evaluate the impact of agency practices on real estate development and growth in the suburban areas of Dammbata, Kano, and Kazaure, Jigawa.
- To identify the challenges and opportunities faced by real estate developers and investors in these suburban areas due to agency practices.
- 3. To recommend strategies for improving agency practices to support sustainable real estate development in Dammbata, Kano, and Kazaure, Jigawa.
1.4 Research Questions
To guide the study and achieve the objectives of the study, the following research questions were formulated:
- How do agency practices, such as land use regulations, zoning policies, and infrastructure development, influence the types and scale of real estate projects undertaken in Dammbata, Kano, and Kazaure, Jigawa?
- What are the major challenges and opportunities faced by real estate developers and investors in these suburban areas due to agency practices, and how do these factors impact the viability and profitability of real estate projects?
- 3. What strategies can agencies implement to improve the enabling environment for real estate development in Dammbata, Kano, and Kazaure, Jigawa, and what are the potential benefits of these strategies for both the agency and the local community?
1.5 Research Hypothesis
The following research hypothesis was developed and tested for the study:
Ho: There is no significant difference in the effectiveness of real estate agency practices between the suburban areas of Dammbata, Kano, and Kazaure, Jigawa.
1.6 Significance of the Study
The study is important for many reasons. The following are the major stakeholders this paper through its practical and theoretical implications and findings will be of great significance:
Firstly, the paper will benefit major stakeholders and policy makers in the Estate Management sector. The various analysis, findings and discussions outlined in this paper will serve as a guide in enabling major positive changes in the industry and sub-sectors.
Secondly, the paper is also beneficial to the organizations used for the research. Since first hand data was gotten and analysed from the organization, they stand a chance to benefit directly from the findings of the study in respect to their various organizations. These findings will fast track growth and enable productivity in the organisations used as a case study.
Finally, the paper will serve as a guide to other researchers willing to research further into the subject matter. Through the conclusions, limitations and gaps identified in the subject matter, other student and independent researchers can have a well laid foundation to conduct further studies.
1.7 Scope of the Study
The study is delimited to dammbata Kano and kazaure jigawa. Findings and recommendations from the study reflects the views and opinions of respondents sampled in the area. It may not reflect the entire picture in the population.
1.8 Limitations of the Study
The major limitations of the research study are time, financial constraints and delays from respondents. The researcher had difficulties combining lectures with field work. Financial constraints in form of getting adequate funds and sponsors to print questionnaires, hold Focus group discussions and logistics was recorded. Finally, respondents were a bit reluctant in filling questionnaires and submitting them on time. This delayed the project work a bit.
1.9 Organization of the Study
The study is made up of five (5) Chapters. Chapter one of the study gives a general introduction to the subject matter, background to the problem as well as a detailed problem statement of the research. This chapter also sets the objectives of the paper in motion detailing out the significance and scope of the paper.
Chapter Two of the paper entails the review of related literature with regards to corporate governance and integrated reporting. This chapter outlines the conceptual reviews, theoretical reviews and empirical reviews of the study.
Chapter Three centers on the methodologies applied in the study. A more detailed explanation of the research design, population of the study, sample size and technique, data collection method and analysis is discussed in this chapter.
Chapter Four highlights data analysis and interpretation giving the readers a thorough room for the discussion of the practical and theoretical implications of data analyzed in the study.
Chapter Five outlines the findings, conclusions and recommendations of the study. Based on objectives set out, the researcher concludes the paper by answering all research questions set out in the study.
1.10 Definition of Terms
1. Real Estate Agency
A real estate agency is a business or organization that facilitates the buying, selling, and renting of properties. Agencies act as intermediaries between buyers and sellers or landlords and tenants, providing expertise in property transactions and market trends. In the context of suburban areas, these agencies often specialize in residential properties, helping clients navigate the complexities of local real estate markets.
2. Suburban Area
A suburban area is a residential district located on the outskirts of a major city. These areas are typically characterized by lower population density compared to urban centers and are often sought after for their more spacious living environments and quieter surroundings. The suburban context of Dammbata and Kazaure includes areas that are developing or expanding, influencing the local real estate market.
3. Property Valuation
Property valuation refers to the process of determining the current worth of a property based on various factors such as location, condition, market trends, and comparable sales. Accurate valuation is crucial for real estate transactions and investment decisions, especially in suburban areas where property characteristics may vary widely.
4. Market Trends
Market trends in real estate refer to the patterns and changes in the housing market over time, including fluctuations in property prices, demand, and supply. Understanding market trends in suburban areas like Dammbata and Kazaure helps real estate agencies and investors make informed decisions regarding property investments and sales.
5. Urban Sprawl
Urban sprawl describes the uncontrolled expansion of urban areas into surrounding rural or suburban land. This phenomenon can impact suburban areas by increasing property demand, altering local infrastructure, and affecting the quality of life. In the context of Dammbata and Kazaure, urban sprawl may influence real estate development and agency practices.
6. Real Estate Development
Real estate development involves the process of constructing, renovating, or improving properties to meet market needs. This includes residential, commercial, and mixed-use projects. In suburban areas, development may focus on new housing projects, community amenities, and infrastructure improvements, which can significantly impact local real estate markets.
7. Agency Practice
Agency practice in real estate refers to the methods and procedures employed by real estate agents and agencies to facilitate property transactions and serve clients. This includes marketing strategies, client relationship management, and adherence to legal and ethical standards. Evaluating agency practices in suburban areas like Dammbata and Kazaure involves assessing how effectively agencies operate within these specific contexts.
