The Lagos State Government has warned that operating as a real estate agent, commission agent, or practitioner without proper registration is now a punishable offence.
The declaration came from Barrister Barakat Odunuga-Bakare, the Special Adviser to Governor Babajide Sanwo-Olu on Housing and Head of the Lagos State Real Estate Regulatory Authority (LASRERA), during a media briefing in Alausa, Ikeja.
She explained that both individuals and organizations involved in real estate must be registered and certified by LASRERA before they can operate within the state.
“It is an offence for anyone to even deal with persons or organisations that have not registered and obtained the LASRERA certificate of practice,” Barr. Odunuga-Bakare emphasized.
This latest directive aligns with the administration’s broader effort to regulate the real estate space, discourage exploitation, and protect Lagos residents.
According to the Special Adviser, the current government remains firm in ensuring that only verified and responsible practitioners are allowed to handle property transactions across the state.
Furthermore, she reiterated that agency fees must not exceed 10%, stating that complaints about being overcharged or misled by agents should be directed to LASRERA’s office for proper handling.
“Agency fees charged by agents must be between zero and 10 per cent,” she said.
Barr. Odunuga-Bakare warned that collecting more than one year’s rent in advance remains a legal offence under Lagos real estate law.
“It is also an offence for practitioners in the built sector to demand more than one year’s rent from clients,” she noted.
In addition, she cautioned agents and practitioners against taking money from clients without providing the expected services, describing such actions as fraudulent and unethical.
The LASG real estate crackdown, spearheaded by LASRERA, is part of a long-term plan to restore confidence in the real estate sector and eliminate fraudulent activity.
“Governor Babajide Sanwo-Olu’s Administration is committed to restoring sanity to the real estate sector while protecting the interests of home seekers, property owners, and practitioners,” she affirmed.
The state government is also calling on the public to verify the authenticity of any agent they engage with and ensure they are registered under the Lagos State Real Estate Regulatory Authority.
