The Lagos State Government has urged realtors to complement its efforts to eliminate fraudulent practices in the real estate sector.
The Special Adviser to the Governor on Housing, Mrs Toke Benson-Awoyinka, made the appeal, according to a statement on Sunday, during the Association of Estate Agents in Nigeria – International Association of Realtors meeting held on Victoria Island.
Benson-Awoyinka, who was represented at the event by the Lagos State Real Estate Regulatory Authority Project Manager, Mrs Bolanle Asuquo, noted that players in the sector must abide by laws that guide practitioners.
She said, “The fact that individuals/organisations are already registered with their relevant professional bodies should not be the reason why they would disregard the provisions of state laws guiding real estate practice.
“In developed countries, becoming a realtor requires a licence, but in Nigeria, anyone can become an agent at any time. This unfortunate situation had led to potential renters/buyers being swindled and deceived by unscrupulous individuals/organisations.
“The intervention of the state government in the real estate sector was to eliminate fraudulent practices by some unscrupulous persons because of the reported cases.”
The Special Adviser added that LASRERA would monitor and collate a database of all practising real estate individuals or organisations to conform them to global standards.
