The Lagos State Government has reiterated its firm stance on sanitising the real estate sector, declaring it a punishable offence to operate as a real estate agent, commission agent, or practitioner without proper registration with the Lagos State Real Estate Regulatory Authority (LASRERA).
Speaking on Tuesday at Alausa, Ikeja, the Special Adviser to the Governor on Housing and Head of LASRERA, Barrister Barakat Odunuga-Bakare, issued a stern warning to individuals and organisations engaging in real estate activities without the mandatory LASRERA registration certificate.
She further warned the public against transacting with unregistered agents or companies, noting that such dealings are also considered illegal. “Dealing with any unregistered practitioner contravenes the law. We want Lagosians to know that only certified professionals should be patronised,” she emphasized.
Odunuga-Bakare also restated the government’s regulation on agency fees, making it clear that the allowable range is between zero and 10 per cent. She urged residents who are charged beyond the stipulated limit or have any real estate-related grievances to report such matters directly to the LASRERA office for redress.
Highlighting more offences within the sector, she noted that demanding more than one year’s rent from tenants remains illegal and warned practitioners against collecting funds from clients without delivering the appropriate services.
“The Babajide Sanwo-Olu administration is committed to restoring order, transparency, and professionalism to the real estate sector,” she stated. “Our goal is to protect the interests of home seekers, genuine practitioners, and property owners alike.”
The Lagos State Government urged members of the public to verify the status of any real estate professional or agency through LASRERA before engaging in property transactions.