The Lagos State Government has warned that no one can lawfully engage in real estate business within the state without registering with the Lagos State Real Estate Regulatory Authority (LASRERA).
This directive was issued by Barrister Barakat Odunuga-Bakare, Special Adviser to Governor Babajide Sanwo-Olu on Housing and head of LASRERA.
She declared on Saturday in Alausa: “It is illegal to participate in real estate business in Lagos without registering with LASRERA.”
This applies to individuals and companies alike—agents, realtors, brokers, or consultants operating within the property market.
LASRERA Enforcement Aims to Clean Up the Industry
Odunuga-Bakare stated that LASRERA was created to safeguard property seekers, homeowners, and law-abiding practitioners from exploitation and fraud.
The agency’s responsibilities include licensing real estate operators, overseeing transactions, and investigating complaints from members of the public.
According to her, “We want a transparent, trusted property market where both buyers and sellers feel protected.”
The government said unregistered operations threaten order, and all real estate dealings must be conducted through verified and traceable channels.
Illegal Fees and Advance Rent Practices Targeted
The Special Adviser warned that agents must not charge above the regulated commission.
“Agency fees must fall within 0 to 10%. Anything beyond this is unacceptable,” she said.
She urged Lagosians to report agents or landlords who demand illegal sums for property services.
She further cautioned against a growing practice: demanding two or more years of rent from tenants in advance.
“It is unlawful to collect more than one year’s rent upfront. Violators will face consequences,” she stated.
The government reminded residents that they have rights and encouraged them to take action when cheated.
Sanwo-Olu’s Government Backs Full Property Reform
According to Odunuga-Bakare, the crackdown is part of the Sanwo-Olu administration’s wider efforts to restore discipline in the real estate space.
“The goal is not punishment, but to ensure fairness, order, and trust,” she said.
She advised Lagos residents to always verify a practitioner’s registration status before agreeing to rent or buy property.
“We cannot allow illegal players to continue to distort the property market and exploit vulnerable people,” she warned.
The Lagos State Government is firm in its stance: real estate practice without LASRERA certification is now a direct violation of state law.
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