Amid growing concerns about unscrupulous activities in the real estate sector, Lagos officials have insisted that the coming on board of Lagos State Real Estate Regulatory Agency (LASRERA), will completely checkmate fraud in the practice.
Special Adviser to the Governor of Lagos State on Housing, Mrs Toke Benson-Awoyinka said it is now mandatory for all real estate practitioners to register with LASRERA at a fee before they can practise in Lagos. She said this became necessary to capture and update a unified central database of real estate practitioners and their activities.
Benson-Awoyinka, who spoke during the official launch of the LASRERA website/logo in Lagos, said: “We are well aware of the trend of fraudulent practices of some Real Estate Agents and Property
Developers. This is reflected in the complaints received by the Agency in recent times from residents who had fallen victims to fake Real Estate Practitioners and property developers while seeking accommodation, purchase or sale of the property. Hence, the need to have a comprehensive database that can be used to curb these fraudulent practices in the sector.” (Guardian)