Unregistered estate agents Real estate market Market integrity Property pricing dynamics Benin City Estate Surveyors and Valuers Regulatory enforcement Fraudulent practices Public awareness Real estate sector stability

The study examined the proliferation of unregistered estate agents and its implications for market integrity and pricing dynamics in Benin City. The main objectives were to (i) examine the factors responsible for the proliferation of unregistered estate agents, (ii) assess their effects on market integrity, and (iii) evaluate the impact of unregistered estate agents on property pricing dynamics. The study adopted a survey research design, and data were obtained from practicing Estate Surveyors and Valuers registered with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Benin City and unregistered estate agents. A structured questionnaire was used as the primary instrument of data collection, and responses were analyzed using descriptive statistics such as mean scores, standard deviations, and percentages. Findings revealed that the proliferation of unregistered agents is largely driven by high unemployment rates, low barriers to entry, lack of regulatory enforcement, and public ignorance of professional standards. The activities of these unregistered agents have significantly undermined market integrity, leading to fraudulent practices, misinformation, and reduced public trust in the real estate sector. Furthermore, their involvement in property transactions was found to distort pricing dynamics, causing unrealistic price inflation and value inconsistency across different neighborhoods in Benin City. The study concludes that the prevalence of unregistered agents poses a substantial threat to the efficiency, transparency, and stability of the real estate market. It therefore recommends stronger regulatory enforcement, public awareness campaigns, and collaboration between professional bodies and government agencies to curb the activities of unregistered practitioners and restore integrity to property market operations in Benin City.