Unregistered real estate practitioners to be arraigned, LASRERA.
On Thursday, the Lagos State Real Estate Regulatory Authority banned unregistered real estate practitioners from practicing in the state.
Mrs Toke Benson-Awoyinka, the Special Adviser to the Lagos State Governor on Housing, told the News Agency of Nigeria that the initiative aimed to ensure that real estate practitioners were properly registered with the authorities.
This was said by Benson-Awoyinka, who was represented by Mr Deji Badejo, Director, LASRERA Enforcement Unit, during the start of the operation in Ikeja and Maryland.
LASRERA’s mandate is to regulate, sanitise, and efficiently monitor the real estate market in Lagos State, according to her.
According to her, practicing real estate in any form, including the exhibition of signage and inscriptions such as ‘To Let,’ ‘To Lease,’ and ‘For Sale,’ among others, at their offices or on any property without being properly registered with the authority, is illegal.
“This enforcement and public awareness campaign, which began in Ikeja and its surrounds, is scheduled to be replicated across the state’s divisions.”
“It’s part of LASRERA‘s public awareness campaign on the state government’s attempts to clean up the real estate sector in the state,” she explained.
According to her, unregistered real estate persons or organisations should be prohibited from placing signs on residential and commercial properties since they can easily defraud unwary members of the public.
Many members of the public have been scammed in the past by imposters and dishonest real estate practitioners, according to Benson-Awoyinka.
She emphasised that the government could not continue to overlook and tolerate anomalies that could drive many genuine investors/investees away from the sector.
She claimed LASRERA has previously written to over 1,000 real estate people or organisations in the state to support the state government’s push for the sector’s regularisation and to encourage those in the diaspora to invest in the market.