The Lagos 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 the Lagos State Real Estate Regulatory Authority.
The Special Adviser to the Governor on Housing and Head of the Lagos State Real Estate Regulatory Authority (LASRERA), Barrister Barakat Odunuga Bakare gave the warning today at Alausa – Ikeja.
She stated that it is an offence for anyone to even deal with persons or organisations that have not registered and obtained the LASRERA certificate of practice.
Reaffirming for the umpteenth time that Agency fees charged by agents must be between zero and 10 per cent, the Special Adviser encouraged persons who are charged above 10 per cent or who have other complaints or grievances to channel such to the LASRERA office.
Barr. Barakat Odunuga-Bakare reiterated that it is also an offence for practitioners in the built sector to demand more than one year’s rent from clients, adding that the LASG has also declared it is against the law for any real estate practitioner to obtain money from any Lagosian without rendering the appropriate services to the clients.
She emphasised the commitment of the Governor Babajide Sanwo-Olu’s Administration to restore sanity to the real estate sector while protecting the interests of home seekers, property owners and practitioners.