The Lagos State Government has declared it illegal for anyone to operate in the real estate sector without proper registration with the Lagos State Real Estate Regulatory Authority (LASRERA). The directive, which comes with possible sanctions, targets all individuals and organisations involved in real estate transactions, including agents, realtors, and developers.
This announcement was made in Alausa, Ikeja, by Barakat Odunuga-Bakare, the Special Adviser to Governor Babajide Sanwo-Olu on Housing and Head of LASRERA. She made the statement public via the official X (formerly Twitter) handle of the Lagos State Government.
According to her, any person or organisation carrying out real estate business in Lagos must be duly registered and possess a valid LASRERA certificate. She further warned that even dealing with unregistered real estate practitioners constitutes an offence under the state’s laws.
“It is an offence to practice real estate business, either as a commission agent, realtor, or real estate practitioner, without proper registration with the Lagos State Real Estate Regulatory Authority,” Odunuga-Bakare said. “It is also an offence for anyone to deal with persons or organisations that have not registered with LASRERA.”
The regulatory agency was established to monitor, control, and standardise real estate activities in Lagos State. LASRERA’s responsibilities include registering practitioners, overseeing property transactions, investigating complaints, and protecting the public from fraudulent practices.
The state government considers LASRERA registration a vital tool to promote transparency, reduce fraud, and build confidence in the Lagos property market. The agency works closely with other relevant government institutions to ensure full compliance and to facilitate seamless real estate operations.
Odunuga-Bakare also used the opportunity to caution against common abuses in the sector. She reminded agents and brokers that their professional fees must remain within the government-approved range of 0–10 per cent. Any charges above this threshold are illegal and can lead to disciplinary action.
She also warned real estate practitioners against demanding more than one year’s rent in advance from tenants, a practice that has become widespread in many parts of Lagos despite legal provisions to the contrary.
“Real estate practitioners must not collect fees beyond the prescribed limit, nor should they demand rent for more than a year upfront. Any agent who collects money without providing the agreed service is acting illegally,” she added.
Residents were advised to report incidents of overcharging, misconduct, or fraud to LASRERA, which is empowered to investigate and take enforcement action against violators. The state also urged prospective tenants and property buyers to verify the registration status of any real estate agent or company before entering into any transaction.
The enforcement campaign is part of Governor Sanwo-Olu’s broader plan to sanitise the Lagos housing market, safeguard the rights of home seekers, and support professionals operating within the legal framework. The administration has repeatedly expressed its commitment to streamlining property transactions and eliminating the growing trend of quackery in the real estate space.
In recent years, Lagos has witnessed a surge in property disputes, inflated agency charges, and scams involving unregistered agents. The LASRERA initiative is designed to protect residents from falling victim to such fraudulent acts while also enhancing the integrity and accountability of licensed professionals.
The state government believes that a well-regulated real estate sector will not only protect consumers but also attract investment into the housing sector and contribute meaningfully to the economic growth of Lagos.
