Lagos officials seek real estate collaboration to curb excessive charges

Lagos State Deputy Governor Dr. Kadri Obafemi Hamzat has called for increased collaboration between the Lagos State Real Estate Regulatory Authority (LASRERA) and the Estate, Rent and Commission Agents Association of Nigeria (ERCAAN). The goal is to address excessive charges and improve professionalism within the real estate sector.

During a training session in Ikeja, officials noted that the growing population in Lagos has caused housing demand to outpace supply. Stakeholders emphasized the need to expand housing availability and ensure affordability through reasonable sector charges.

Authorities also highlighted the Lagos State Real Estate Regulatory Authority Law of 2022, which serves as a framework to protect the public from fraudulent practices. Officials urged practitioners to obtain required permits and comply with regulatory standards to avoid illegal practice.