ABRAHAM ADESANYA POLYTECHNIC
DAGBOLU/AKANRAN/IBADAN ROAD, ATIKORI
P.M.B 1020, IJEBU-IGBO, OGUN STATE
A TECHNICAL REPORT
ON
HELD AT
B ADEOGUN & ASSOCIATIONS (REAL ESTATE DEPARTMENT)
BY
SUBMITTED TO:
MR. AKINTOYE SAMUEL
DEPARTMENT OF MASSCOMMUNICATION, ABRAHAM ADESANYA
POLYTECHNIC
DEC. 18TH 2023
1
CHAPTER ONE
1.0 Introduction
1.1 Background
The Industrial Training fund established by decree 43 was introduced in
1971, vis-à-vis the birth of the Students Industrial Work Experience Scheme
(SIWES) the same year by the Federal Government of Nigeria (FGN). It is
against this background that the industrial training fund (ITF) initiated, designed
and introduced SIWES Scheme in 1973 to acquaint students with the skills of
handling employers’ equipment and machinery.
The Industrial Training Fund (ITF) solely funded the scheme during its
formative years. However, due to financial constraints, the fund withdrew from
the scheme in 1978. The Federal Government, noting the significance of the
skills training, handed the management of the scheme to both the National
Universities Commission (NUC), and the National Board for Technical
Education (NBTE) in 1979. The management and implementation of the
scheme was however, reverted to the ITF by the Federal Government in
November, 1984 and the administration was effectively taken over by the
industrial training fund in July 1985, with the funding solely boned by the
Federal Government. It is an integral part of the requirements for the award of
Certificates, Diplomas and Degrees in institutions of higher learning, e.g.
Colleges of Education, Polytechnics, Universities, etc.
Student Industrial Work Experience Scheme (SIWES) exposes students to
industry based skills necessary for a smooth transition from the classroom to
work environments. It accords students of tertiary institutions the opportunity of
being familiarized, exposed, and prepare students of universities, polytechnics,
college of technology, college of agricultures and college of education for the
industrial work situation they are likely to meet after graduation and to the
needed experience in handling machinery and equipment which are not found in
such an educational institution.
1.2 Objectives of SIWES
To provide students with relevant practical experience.
To satisfy accreditation requirements set by the Nigerian Universities
Commission (NUC).
To familiarize students with typical environments in which they are likely to
function professionally after graduation.
To provide student an opportunity to see the real world of their discipline
and consequently bridge the gap between the University work and actual
practice.
To change the orientation of students towards labour market when seeking
2
for job.
To help students access area of interest and suitability for their chosen
profession.
To enhance students, contact for future employment
To provide access to equipment and other facilities that would not normally
be available in the University workshop
To enlist and enhance industry involvement in university education.
Summarily the objective of the Student Industrial Work Experience Scheme.
To solve, the problem of inadequate practical skills, preparatory for
employment in industries by Nigerian graduates of tertiary institution.
To promote and encourage the acquisition of skills in industry and
commerce, with a view of generating a pool of indigenous trained manpower
sufficient to meet the needs of the economy.
CHAPTER 2
2.0 Departments/Units in the Establishment and their Functions
What is real estate management?
Real estate management is utilized for any type of rental property, including
residential rentals or commercial real estate. The management company helps
manage the daily operations of the rental property or portfolio of properties on
behalf of the landlord. The manager oversees rental operations as well as the
upkeep of the property and coordinates the buying and selling of a property with
a real estate agent.
A professional property manager will manage all aspects of their clients'
properties, from screening prospective tenants to collecting rent. They handle all
the maintenance requests from the tenant and will hire the appropriate service to
repair any issues. A property management company will even take care of
evictions and filing any paperwork associated with it or other government
programs. Think of real estate property management as a one-stop shop for all
of your landlord needs.
A real estate agent is a licensed professional who represents buyers or sellers in
real estate transactions. A real estate agent usually works on commission, being
paid a percentage of the property's sale price.
Definitions of land agent? a person who is authorized to act as an agent for the
sale of land. synonyms: estate agent, house agent, real estate agent, real estate
broker.
3
What is land area?
Landed properties sit on a piece of land, and the size is normally mentioned in
how many feet wide by how many feet long. For terrace houses, when talking
about size, they usually mean the land size is how many feet wide by how many
feet long.
A title is a document that shows legal ownership to a property or asset. A title
can represent ownership of a real asset such as a car or an intangible property or
assets such as a trademark.
A home inspection is an examination of the condition and safety of a piece of
real estate, often conducted when the home is being sold. A qualified home
inspector will assess the heating and cooling system, water and sewage systems,
other plumbing, and electrical work, and look for any potential fire or safety
hazards.
The role of an insurance agent is to provide a comprehensive policy, which
will provide adequate protection in the event of a loss. It should provide
coverage for you dwelling, personal property, loss of use, and liability. The
amount of insurance should equal the replacement value of the dwelling.
Real estate development, or property development, is a business process,
encompassing activities that range from the renovation and re-lease of existing
buildings to the purchase of raw land and the sale of developed land or parcels
to others.
An appraisal is a judgment by a neutral party to assess fair market value. Fair
market value is the amount an item would sell in a market where buyers and
sellers have all the same information and time to value an item. Appraisals are
often used in real estate to value properties, called a real estate appraisal.
Property surveyors play a crucial role in our economy, our society and our
environment. They provide services relating to real estate valuation,
management and transactions that ensure a healthy real estate market and a
stable economy.
CHAPTER THREE
3.0 WORK EXPERIENCE
3.1 Provide guidance and assist sellers and buyers in marketing and
purchasing property for the right price under the best terms
4
Determine clients’ needs and financials abilities to propose solutions that
suit them
Intermediate negotiation processes, consult clients on market conditions,
prices, mortgages, legal requirements and related matters, ensuring a
fair and honest dealing
Perform comparative market analysis to estimate properties’ value
Display and market real property to possible buyers
Prepare necessary paperwork (contracts, leases, deeds, closing
statements etc)
Manage property auctions or exchanges
Maintain and update listings of available properties
Cooperate with appraisers, escrow companies, lenders and home
inspectors
Develop networks and cooperate with attorneys, mortgage lenders and
contractors
Promote sales through advertisements, open houses and listing services
Remain knowledgeable about real estate markets and best practices
Requirements and skills
Proven working experience as a Real Estate Agent or Real Estate
Salesperson
Proven track of successful sales record
Ability to work independently combined with excellent interpersonal skills
Strong sales, negotiation and communication skills
Pleasant and trustworthy
MS Office familiarity
CHAPTER FOUR
4.1 Difficulties Encountered During the Programme
Life they say is not a bed of roses and whatsoever that has advantages
also have its disadvantages. In as much as the SIWES Programme is a
wonderful programme which has been designed to help the students have a
practical knowledge of their various courses of study, it is note-worthy to also
mention some of the problems encountered during the programme.
1. Problems of Securing a Place of Attachment
5
Securing a place of attachment for industrial training programme was a
very big challenge to me. This is due to the fact that there are very limited
establishment that accepts students undergoing industrial training. While I was
searching for a place of attachments, I got to find out most of the establishments
that accepts students had already taken the maximum number of students
needed, while others would just reject the request giving one reason or the other.
2. Finance
Stipends given to me during my industrial training programme is nothing
to write home about. The stipend was so little that it could not even cover up for
my daily transportation fair not to even mention my feeding fee; therefore,
making me spent more from my personal savings. Despite the fact that the
stipend was little, it was delayed. Most students ended their programme without
receiving their complete stipend due to late payment from firm and we are also
asked to pay for the practical we are going to conduct which makes student
loose interest in participating.
4. Inaccessible Machines
Industrial training students were not opportune to access most of the
automated analyzers because they are not available Instead, we were being told
to make research of such machine which does not assist us in learning better
going with the saying “practice makes perfect” and not “plain research makes
one perfect”. One of the objectives of SIWES is to expose students to work
methods and techniques in handling equipment’s and machineries that may not
be available in their universities, thus, the above stated objective of SIWES is
not been fulfilled completely.
The difficulties encountered during the programme among others include;
Inadequate monitoring of students on industrial training;
Lack of cooperation and support from organization;
Delay in release of fund for supervision and student’s industrial training
allowances;
Student’s reports were not corrected.
4.2 Summary of Attachment Activities
The gains of this exercise are immense; that it was worth the while is
grossly an understatement. Being accorded another opportunity in life to be
exposed to the rudiments of work places outside the class room teaching is an
experience of a life time.
Furthermore, the exposure to practical tools, and working features had
engendered better understanding of lessons thought in the class room and
charted a course for career development in food science
CHAPTER FIVE
6
RECOMMENDATION AND CONCLUSION
5.1 Recommendation
Tertiary institutions need to comply with the standards set for proper
implementations of SIWES to enable students derive the greatest benefits
from participation in the scheme.
Tertiary institutions need to provide adequate logistics (mobility, internet
service etc.) and adequate funding to make their SIWES units functional.
Students should be well prepared through meaningful orientation
programmes by institutions before embarking on SIWES. A book, such as
the “Guide to successful participation in SIWES” would be useful in
achieving the purpose if read before, during and after SIWES by
participants.
Quality assurance of SIWES, through adequate supervision of participants
by the relevant stakeholders (institutions, employers and ITF) would ensure
that the scheme meets its objectives vis-à-vis the principles of cooperative
education or work-integrated learning.
5.2 Conclusion
The Student Industrial Work Experience Scheme (SIWES) plays a
significant role in human resource development, it helps students develop new
skills and enlightens them of what the present society holds for them after
graduation and helps them adapt accordingly. As a result of the programme, I
am now more confident to build my future My three (3) months industrial
attachment with Real Estate has been one of the most interesting, productive
and instructive experience in my life. Through this training, I have gained new
insight and more comprehensive understanding about the real industrial
working condition and practice; it has also improved my soft and functional
skills. All these valuable experience and knowledge that I have gained were not
only acquired through the direct involvement in task but also through other
aspect of training such as work observation, interaction with colleges, superior
and other people related to the field.
