The Lagos State Government has officially outlawed real estate practice by individuals or organisations not registered with the Lagos State Real Estate Regulatory Authority (LASRERA), declaring such actions a criminal offence
This move is part of efforts to tackle rampant fraud and bring sanity to the state’s property market.
The announcement was made in Alausa, Ikeja, by the Special Adviser to the Governor on Housing and Head of LASRERA, who stressed that no one is allowed to operate as a real estate agent, realtor, or practitioner without obtaining a valid LASRERA registration certificate. The government also warned that those who engage in transactions with unregistered agents could face legal consequences.
According to the state, LASRERA is responsible for regulating all property-related activities in Lagos. The agency registers professionals, monitors transactions, and investigates complaints to protect tenants, landlords, and certified agents from unethical practices.
In a stern warning, LASRERA reminded agents that agency fees must not exceed the 10 percent cap. It also reiterated that collecting more than one year’s rent in advance is illegal. Agents found violating these regulations will be penalized, as the government intensifies enforcement against practices that persist despite existing laws.
Lagos residents have been encouraged to report cases of overcharging, fraud, or unprofessional conduct to LASRERA. The agency further urged the public to verify the registration status of any real estate professional before proceeding with property transactions.
This enforcement is part of Governor Babajide Sanwo-Olu’s wider reform agenda to clean up the real estate sector and promote transparency, fairness, and accountability for all stakeholders.
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