ETHICAL PRACTICES AND STANDARDS IN REAL ESTATE PRACTICE: THE NASARAWA EXPERIENCE

Abstract

This study investigates the prevalence, underlying causes, and impacts of unethical and unprofessional practices among real estate practitioners in Nasarawa State, Nigeria. Data were collected from 30 respondents using structured questionnaires and analyzed through descriptive statistics, factor analysis, and binary logistic regression. The results revealed that unethical behaviors—such as misappropriation of clients’ funds, double agency, and non-disclosure of conflicts of interest—are widespread and significantly undermine professional standards. Factor analysis identified three core drivers accounting for 70.8% of the total variance: Ethics Governance and Internal Control, Economic and Political Pressures, and Market Orientation and Systemic Vulnerabilities. Binary logistic regression further confirmed that unethical practices such as misappropriation of funds (Exp(B) = 2.956, p < .001) and double agency (Exp(B) = 2.544, p < .001) substantially increase the likelihood of perceived professional deterioration. Based on these findings, the study recommends stronger regulatory oversight, mandatory ethics education, improved remuneration and working conditions, enhanced legal enforcement, and public sensitization to restore ethical conduct, professional integrity, and client confidence in the real estate sector in Nasarawa.