June 30, 2025
By Adedoja Adesoji
The Lagos State Government has taken a firm stance against unregistered real estate practitioners in the state, declaring it a criminal offense for individuals or organizations to operate without registering with the Lagos State Real Estate Regulatory Authority (LASRERA).
This move aims to curb widespread fraud and restore order in the property market.
According to the Special Adviser to the Governor on Housing and Head of LASRERA, “No one is permitted to act as an agent, realtor, or real estate practitioner without a valid LASRERA registration certificate.” Those who do so risk facing legal consequences, including penalties. Even clients who engage with unregistered agents may face repercussions.
LASRERA’s regulatory framework oversees all property-related activities in Lagos, including registering practitioners, monitoring transactions, and investigating complaints.
This is designed to protect home seekers, property owners, and licensed agents from unscrupulous practices while fostering confidence in the real estate sector.
The agency has reminded practitioners that agency fees are capped at 10%. Real estate agents found demanding excessive charges or collecting more than one year’s rent upfront will face penalties.
Despite existing laws, these practices remain common in Lagos, but the state government is now taking a tougher stance.
Residents are urged to report cases of overcharging, poor service delivery, and misconduct to LASRERA.
The agency advises Lagosians to verify the registration status of any real estate professional before entering into transactions.
This enforcement drive is part of Governor Babajide Sanwo-Olu’s broader agenda to sanitize the real estate market and ensure it operates transparently for the benefit of all stakeholders.
LASRERA aims to create a more transparent and trustworthy real estate sector. The agency’s efforts are expected to protect consumers and promote a more professional and accountable industry.
