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Lagos Cracks Down: Real Estate Practice Without LASRERA License Is Now Illegal!

Business 7 hrs ago
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    Infinity Media
    7 hrs ago
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    The Lagos State Government has officially declared that practicing real estate without registration with the Lagos State Real Estate Regulatory Authority (LASRERA) is now illegal. Barrister Barakat Odunuga-Bakare, LASRERA head and Special Adviser on Housing, issued a stern warning this Saturday, June 28: no registration = no business.

    ⚠️ What This Means for You

    • If you're an agent, realtor, broker, or developer, you must register with LASRERA—period.

    • Dealing with unlicensed operators? That’s breaking the law too.

    • All service fees must fall between 0–10% of the lease or sale value. Anything higher? You have the right to report them.

    🎯 Why the Clampdown?

    1. Protect Buyers & Tenants
      Lagos has seen a rise in property fraud—fake agents, inflated rents, nonexistent listings. 🔍

    2. Enforce Fair Play
      Registered professionals must operate within the law—no collecting more than a year’s rent upfront and providing actual services.

    3. Boost Confidence
      This move is part of broader efforts—like seizing illegal properties and recovering funds—to clean up Lagos’s housing market.

    👏 What’s Already Happening?

    • LASRERA has mediated over 1,500 disputes, recovering nearly ₦295 million and sealing off illegal structures.

    • Over 900 agents and firms are now officially registered on LASRERA’s portal—yet thousands more are still unlicensed.

    • The government is actively enforcing bans on unregistered banners and advertising boards across the city .

    🛡️ The Bottom Line

    Lagos is putting its foot down: no LASRERA registration = no legal real estate business. Whether you’re buying, renting, or leasing, verify your agent on the LASRERA portal first. Doing otherwise could cost you money—or even land you in legal trouble.

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