EVALUATION OF THE EFFECT OF DISPUTES ON REAL ESTATE MANAGEMENT PERFORMANCE IN AKURE, NIGERIA

Purpose: This study evaluated the effects of disputes on real estate management performance in Akure, Ondo State, Nigeria. Specifically, it examines financial implications, degraded relationships, threats to life and property, unrealized management objectives, property obsolescence, and devaluation of property as consequences of unresolved disputes. The study therefore highlights the role of Alternative Dispute Resolution (ADR) mechanisms as a strategic framework for mitigating these effects and enhancing real estate management performance.

Design/Methodology/Approach: A survey research design was adopted, utilising both primary and secondary data sources. Primary data were collected through structured questionnaires administered to all thirty-two (32) registered Estate Surveying and Valuation firms in Akure, of which twenty-three (23) valid responses were retrieved, representing a 71.9% response rate. Data were analysed using descriptive (weighted mean score (WMS) and standard deviation) and inferential (one-sample t-test) statistical analysis to determine the statistical significance of each identified effect. A 5-point Likert scale was applied: Very High (VH) = 5, High (H) = 4, Somewhat High (SH) = 3, Low (L) = 2, Very Low (VL) = 1.

Findings: Financial implications (mean = 4.39), degraded relationships (mean = 4.26), and threats to life and property (mean = 4.17) were identified as the most severe effects of disputes in real estate management, each exceeding the grand mean threshold. Unrealized objectives (mean = 3.78), property obsolescence (mean = 3.43), and devaluation of property (mean = 3.35) were found to be less frequent but remain significant. One-sample t-tests confirmed that the top three effects were statistically significant at the 0.05 level, reinforcing the reliability of the descriptive findings.

Research Limitations/Implications: The study is limited to registered Estate Surveying and Valuation firms in Akure, and the small sample size (n = 23) restricts generalisation. The study contributes to the growing body of literature on dispute management in the Nigerian real estate sector by empirically substantiating the consequences of unresolved disputes.

Practical Implications: It is recommended that property managers and regulators prioritise the adoption of ADR mechanisms to reduce financial losses, preserve stakeholder relationships, and improve the overall sustainability of real estate management.

Originality/Value: The study provides empirical evidence of the effects of disputes in real estate management in a Nigerian urban area and demonstrates that unresolved disputes carry measurable, ranked consequences. It also bridges a gap in the literature by linking dispute effects to ADR adoption imperatives in the Nigerian real estate sector.