By David Akinmola
The Lagos State Government has officially declared that any real estate practice conducted without proper registration with the Lagos State Real Estate Regulatory Authority (LASRERA) is now considered illegal, warning that violators will face sanctions in accordance with state laws.
The announcement, made by the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, reinforces the government’s commitment to sanitizing the real estate sector and protecting prospective property buyers and renters from fraudulent operators.
According to Odunuga-Bakare, the directive is part of the state’s broader effort to ensure transparency, accountability, and professionalism within the real estate ecosystem, which has seen a surge in unregulated activities in recent years.
“Practitioners operating without LASRERA’s certification are in breach of the law and will be prosecuted accordingly,” she said during a stakeholders’ meeting in Lagos. “The real estate market in Lagos must be driven by trust, integrity, and adherence to regulatory standards.”
She emphasized that registration with LASRERA is not only a legal requirement but a critical step in building a credible and investor-friendly real estate sector.
The state government urged practitioners—including developers, brokers, and property agents to regularize their operations or risk sanctions, including suspension of business operations, fines, and possible criminal charges.
LASRERA was established to regulate and monitor the real estate business in Lagos State, address the rising tide of fraudulent practices, and promote professionalism and consumer protection in property transactions. The agency maintains a public register of licensed real estate professionals and companies, allowing residents to verify the legitimacy of practitioners before engaging in any property deals.
Industry stakeholders have welcomed the enforcement move, noting that it will help restore public confidence in the sector, which has been plagued by scams, title irregularities, and unethical practices.
The Lagos State Government also encouraged the public to report unregistered real estate operators to LASRERA and to always conduct due diligence by verifying agents and firms through the agency’s online portal before committing to any real estate transaction.
This renewed regulatory stance underscores Lagos’ resolve to make the state’s real estate sector safer, more transparent, and more attractive to both local and international investors.
