The Lagos State Government has announced that all real estate practitioners must register with the Lagos State Real Estate Regulatory Authority (LASRERA) to legally operate within the state. This directive, made public today, mandates that agents, brokers, developers, and facility managers comply or risk prosecution.
The decision follows increasing reports of fraudulent real estate transactions that have led to losses for residents. By enforcing mandatory registration, the government aims to sanitize the industry, promote transparency, and protect property buyers, tenants, and investors from scams.
According to the government’s statement, unregistered practitioners will face legal consequences, including fines, business closures, and potential imprisonment for repeated offenses.
The government urges all stakeholders to register immediately through LASRERA’s official portal and obtain proper certification to continue practicing. Officials stressed that the regulation will also enhance professionalism and accountability, restoring trust in Lagos’ dynamic property market.
