LASRERA Launches Realtors Connect to Tackle Fraud and Strengthen Credibility in Lagos Real Estate
In a bid to enhance transparency and rebuild public confidence in Lagos’ real estate sector, the Lagos State Real Estate Regulatory Authority (LASRERA) has unveiled Realtors Connect, a new initiative designed to curb fraudulent practices and promote professionalism. The project, launched in collaboration with LuchieGreen Properties and AndyAfrique Properties, underscores the state’s growing emphasis on credibility in property transactions.
Government Reinforces Regulatory Compliance
At the launch, Special Adviser to the Lagos State Governor on Housing, Barakat Odunuga-Bakare, stressed that only duly registered practitioners will be permitted to operate under LASRERA’s framework. She explained that this requirement is aimed at shielding investors from scams and ensuring transparent real estate dealings. Odunuga-Bakare also reaffirmed the government’s broader housing agenda, which includes mortgage expansion, rent-to-own schemes, and the adoption of smart housing models to address the state’s housing deficit.
Private Sector Advocates Credibility and Collaboration
From the private sector perspective, Oluchi Okafor, CEO of LuchieGreen Properties and convener of the summit, described Realtors Connect as more than a networking platform. According to her, the initiative is intended to encourage knowledge-sharing, collaboration, and the strengthening of professional standards in the market.
Addressing the industry’s persistent challenges, Okafor noted that fraudulent operators continue to undermine public trust. She emphasised that buyers who transact with LASRERA-registered firms can be assured of security and authenticity in property acquisition.
Adding to this, Okochi Andrew, CEO of AndyAfrique Properties and co-convener, highlighted the resilience of Lagos’ real estate market, pointing to steady appreciation in land values. He encouraged both investors and entrepreneurs to leverage opportunities in the sector while avoiding unregistered operators.
Towards a Transparent Real Estate Ecosystem
Closing the summit, Andrew underscored the importance of compliance and credibility in shaping Lagos’ housing market. He argued that only through strict enforcement of standards can the state achieve a transparent, trustworthy, and investor-friendly real estate ecosystem.
As Lagos continues to grapple with urbanization and population growth, initiatives like Realtors Connect represent critical steps in curbing fraudulent practices and strengthening the integrity of the property market. The success of this platform will likely serve as a benchmark for regulatory frameworks in other Nigerian states aiming to balance growth with accountability.
