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Lagos raises alarm over fake estate agents, warns public against fraudulent housing offers

Lagos raises alarm over fake estate agents, warns public against fraudulent housing offers The Lagos State Government has issued a strong warning to Lagos residents to beware of fake estate agents and fraudsters marketing non-existent housing units in government-owned estates for sale or rent, especially through social media platforms.The Commissioner for Housing, Moruf Akinderu-Fatai, ra...

LAGOS BANS UNREGISTERED REAL ESTATE PRACTICE, SETS STRICTER RULES FOR AGENTS AND LANDLORDS

https://msmeafricaonline.com/lagos-bans-unregistered-real-estate-practice-sets-stricter-rules-for-agents-and-landlords/

Here are the key takeaways from the June 29, 2025 report on Lagos State’s new real estate regulations, as outlined by MSME Africa :

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🔑 Main Points

1. Unregistered Real Estate Practice Declared a Crime

It’s now a criminal offence for any individual or organization to engage in real estate activities in Lagos without registering with the Lagos State Real Estate Regulatory Authority (LASRERA) .

2. Mandatory LASRERA Registration for Practitioners

All agents, realtors, landlords, and property practitioners must hold a valid LASRERA registration certificate. Transacting with unregistered agents can lead to legal action .

3. LASRERA’s Expanded Oversight

LASRERA is empowered to:

Register and license practitioners

Monitor property transactions

Investigate complaints and enforce compliance
These steps aim to protect consumers and uphold transparency .

4. Fee and Rent Collection Caps

Agents and landlords are prohibited from charging more than 10% in agency fees or collecting over one year’s rent upfront. Violation of these limits now attracts penalties .

5. Public Encouraged to Monitor Practices

Residents are urged to:

Report overcharging or misconduct

Confirm real estate professionals are LASRERA-registered before engaging in transactions

6. Support from the Governor

This crackdown is part of Governor Babajide Sanwo-Olu’s broader effort to sanitize the property market and promote trust within the sector .

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🏛️ Why It Matters

These measures are designed to reduce fraud, protect both tenants and property owners, and foster a more transparent and regulated real estate environment in Lagos.

Lagos Bans Unregistered Real Estate Practice, Sets Stricter Rules for - The Lagos State Government has declared it a criminal offence for any individual or organisation to engage in

FOR OUTRIGHT SALE IN ILUPEJU, IKORODU ROAD.

A Commercial Corner Piece of Land on Ikorodu Road measuring 2,671 Sqm Near JKK Building and
Aret Adams House for outright sale.

Location: Cornered along Ikorodu Road with Isijiola street, ilupeju Lagos.

TITLE: Deed of Assignment.

FOR OUTRIGHT SALE.

A Commercial Corner Piece of Land measuring 2,671 Sqm with a block of offices.

Location: Cornered along Ikorodu Road with Isijiola street, ilupeju Lagos.

TITLE: Deed of Assignment.

FOR SALE.

A Commercial Corner Piece of Land measuring 2,671 Sqm with a block of offices.

Location: DIRECTLY on Ikorodu Road, by Isijiola street, ilupeju Lagos.

TITLE: Deed of Assignment.

Petroleum Depot on a 1.0 Hecter of Land Available for Outright Sale.

Description & Features:
(1) Two Overhead Fireproof Tanks of 1.5 & 2.5 Million Litres each.

(2) Two sided Loading bay Gantry

(3) Depot Approval for Storage of AGO, DPK.

(4) Form-Based Fire Hydrant water with network lines covering the entire parameter of the depot.

(5) 250Kva CAT Generator.

(6) Two Floors Office Building is on 600Sqm

(7) Land Title: C of O

Petroleum Depot on a 1.0 Hecter of Land Available for Outright Sale.

Description & Features:

(1) Two Overhead Fireproof Tanks of 1.5 & 2.5 Million Litres each.

(2) Two sided Loading bay Gantry

(3) Depot Approval for Storage of AGO, DPK.

(4) Form-Based Fire Hydrant water with network lines covering the entire parameter of the depot.

(5) 250Kva CAT Generator.

(6) Two Floors Office Building is on 600Sqm

(7) Land Title: C of O

Choose Wisely. . .

IT'S TIME TO INVEST NOW THAT NIGERIA HAS REMOVED THE FUEL SUBSIDY...

1.0 HECTER PETROLEUM TANK FARM FOR SALE IN ITS ENTIRETY.

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