The Lagos State Government has read the riot act to real estate practitioners operating without proper registration, warning that unlicensed activity in the sector now constitutes a punishable offence.
Speaking at Alausa, Ikeja, on Friday, the Special Adviser to the Governor on Housing and Head of the Lagos State Real Estate Regulatory Authority (LASRERA), Barrister Barakat Odunuga-Bakare, said anyone acting as a realtor, agent, or engaging in property transactions without LASRERA certification is violating state laws.
She further cautioned members of the public against transacting with unregistered individuals or organisations, noting that doing so amounts to aiding illegal activity.
Odunuga-Bakare also reiterated that agency fees must not exceed 10 per cent of the transaction value, in line with state guidelines. She encouraged Lagosians to report cases where agents overcharge or engage in sharp practices.
“It is also an offence for practitioners to collect more than one year’s rent in advance,” she stated, warning that the government would not hesitate to take action against violators. “No one should pay for property services without getting value in return. That’s fraud, and it’s punishable under the law.”
According to her, Governor Babajide Sanwo-Olu’s administration is determined to restore sanity to the real estate sector and protect all stakeholders — especially prospective tenants and genuine investors.
The regulatory authority, she said, will continue its enforcement drive and ensure full compliance across the board.
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