Lagos Real Estate Alert: Operating Without LASRERA Registration Now Illegal!
Enet
The Lagos government has announced that working in the real estate sector as a realtor, agent, or practitioner is now illegal without proper registration with the Lagos State Real Estate Regulatory Authority (LASRERA). This warning was issued on Saturday, June 28, by Barrister Barakat Odunuga Bakare, who heads LASRERA and serves as a Special Advisor to the Governor on Housing.
She explained that it is against the law to deal with anyone who hasn’t registered and received a LASRERA practice certificate. The special adviser also reminded everyone that agency fees must be between zero and ten percent. Those who are charged more than that or have complaints should reach out directly to LASRERA for help.
Barrister Bakare emphasized that no real estate professional should ask for more than a year’s rent from a client. She also pointed out that it’s illegal for anyone to take money from a Lagosian without providing the agreed services.
She reinforced that Governor Babajide Sanwo-Olu’s government is determined to bring order back to the real estate industry and protect the interest of professionals, homebuyers, and property owners alike.
