“It Is An Offence To Practice Real Estate Without LASRERA Registration” — Lagos Govt Declares Illegal Property Business Operations
The Lagos State Government has formally declared it illegal for individuals or organisations to engage in real estate business within the state without proper registration with the Lagos State Real Estate Regulatory Authority (LASRERA).
The announcement was made on Saturday by the Special Adviser to the Governor on Housing and Head of LASRERA, Barrister Barakat Odunuga-Bakare, in a statement issued at Alausa, Ikeja, and disseminated through the state government’s official X (formerly Twitter) account.
According to Odunuga-Bakare, no person or firm is permitted to act as a real estate agent, commission agent, or practitioner in Lagos without obtaining a valid LASRERA certificate of registration. She also emphasized that it is unlawful for anyone to engage with unregistered real estate professionals.
“The Lagos State Government has stated that it is an offence to practice real estate business, either as a commission agent, realtor, or real estate practitioner, without proper registration with LASRERA,” she said.
“It is also an offence for anyone to deal with persons or organisations that have not registered and obtained the LASRERA certificate of practice.”
LASRERA is the state agency tasked with regulating real estate transactions, monitoring licensed practitioners, handling complaints, and working to reduce fraudulent activities in the property market. The agency collaborates with other regulatory bodies to ensure compliance with established standards and promote a transparent real estate environment.
The Special Adviser noted that one of the agency’s goals is to restore public confidence in the property sector by encouraging professionalism and protecting residents from exploitation.
She further warned that estate agents must adhere strictly to the approved agency fee limit of 0 to 10 percent. Charging above this limit constitutes professional misconduct, she said, urging the public to report such cases to LASRERA.
Odunuga-Bakare also reminded practitioners that it is illegal to demand more than one year’s rent in advance from tenants, or to receive payments without providing the agreed services. These infractions, she said, remain prevalent in the market and are among the key issues the Sanwo-Olu administration is determined to address.
“The government is committed to sanitising the real estate space in Lagos. Enforcement is ongoing and will be intensified to protect both property owners and home seekers,” she said.
Residents have been advised to verify the registration status of any real estate agent or company before engaging in property transactions. This, the government says, is essential to ensuring accountability and safeguarding against fraud.
