Professional Report Writing and Practice Administration
The final domain tests whether your report would survive scrutiny and whether the office behind it is properly run.
Anatomy of a valuation report
Terms of reference and purpose; basis of value with its definition; valuation date and inspection date; client and any other relying party; property identification and title or tenure; location, neighbourhood and site; description and accommodation; planning and statutory matters; environmental matters; method and comparables or computations; assumptions and special assumptions; limitations and indemnity; declaration of independence and no prior interest; signature, name, registration, date and annexes.
Practice administration
Engagement letters, file notes, supervision and peer review, professional indemnity cover, archiving and data protection under the Nigeria Data Protection Act 2023, and consistent billing. Keep computation sheets so any figure can be reproduced.
Worked example
A client asks for a one-page letter valuing a shop at N30m. Even a short report must state the purpose, the basis (market value), the valuation date, the interest valued, the method and the key comparable, plus assumptions about title and condition. Say 'market value as at [date], subject to the assumptions stated' rather than an unqualified 'worth N30m'. Attach the computation.
Traps
No basis or date; no signature or registration number; assumptions about good title left unstated; comparables copied without adjustment; arithmetic that does not reconcile; disclosing client information carelessly.