General

Lagos State Real Estate Clamps Down On Unregistered Practitioners

Lagos State Real Estate Regulatory Authority, LASRERA has extended its enforcement drive to some parts of the State to ensure that real estate practitioners operating in the State duly register their presence with the Authority.

This is in line with its mandates to regulate, sanitise, monitor as well as raise public awareness about State Government efforts to sanitise the real estate sector in the State.

The enforcement and sensitisation exercise which started on Thursday at Ikeja and its environs, according to the agency, is expected to be replicated across other divisions of the State.

The Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka said that it has become imperative to ensure sanity in the real estate market as the state is working assiduously to enable practitioners in the sector comply to with the set guidelines.

“It is important to notify members of the public that it is an offence to practice real estate in any of its forms including those displaying ” To Let, To Lease, For Sale etc” in their offices or on properties without being duly registered with the Agency.

“Let me state clearly here that following the letters earlier delivered to practitioners across the State, only a few of these practitioners responded to the content of the letters, hence the need to embark on this enforcement and compliance exercise so that relevant stakeholders in the built sector and the general public can attach importance to the call by the Agency to sanitise real estate transactions in the State,” she said

Benson-Awoyinka, who was represented by the Director. Enforcement Unit of LASRERA, Mr Deji Badejo said that there is a need to restrict the posting of banners on residential and commercial properties by unregistered Real Estate Individuals/Organisations who can easily swindle unsuspecting members of the public on their investments or hard earnings.

She mentioned that many members of the public have been defrauded in the past by fraudulent real estate practitioners, stressing that the “government cannot continue to fold its arms and allow irregularities that are capable of driving many genuine investors and investees away from the sector again.”

Benson-Awoyinka also stated that the Agency had earlier written letters to over 1,000 Real Estate Individuals/Organisations in the State to honour the State Government’s call for regularization of the sector, while also expanding the Market confidence of those in the diaspora to invest in the sector.

LASRERA boss also assured all residents of the State that the enforcement drive will be a continuous exercise until all practitioners in the Real Estate Sector of Lagos State are captured under LASRERA’s database in line with international best practices.

She used the opportunity of the enforcement exercise to call on members of the public to report dubious Real Estate Practices to the Agency’s email on: lasrera@lagosstate.gov.ng, or call the following numbers: 090- 199-999- 77, 090- 199-999-97, 090- 40000- 333, 090- 40000- 444, 090- 40000-555 or contact the headquarters of LASRERA at Block 21st, First Floor, Alausa Secretariat, Ikeja.

Source: Voice of Nigeria