The Lagos State Real Estate Regulatory Authority, LASRERA, on Thursday formally launched a website and registration database for real estate practitioners in Lagos State as part of efforts to checkmate the activities of fraudsters in the sector.
Speaking during the launch of the website at the Bagauda Kaltho Press Centre, Alausa, Ikeja, the Special Adviser to the Governor on Housing, Mrs. Toke Benson-Awoyinka said the website became imperative so as to create, capture and update a Unified Central Database of Real Estate Practitioners and their activities within the State.
She 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 for accommodation, purchase or sale of property, hence the need to have a comprehensive database that can be used to curb these fraudulent practices in the sector”.
Benson-Awoyinka emphasised the vital need to sanitise the industry because Lagos is the commercial and economic nerve centre of Nigeria and Africa with lots of investments opportunities, adding that the State Government had also worked tirelessly over the years to curb the increasing fraudulent practices in the Real Estate sector.
The Special Adviser noted that the public presentation will assist in creating awareness and also educate residents of the State on the importance of patronising registered Real Estate Practitioners and Property Developers.
Speaking on the change of name from Lagos State Real Estate Transaction Department to Lagos State Real Estate Regulatory Authority (LASRERA), she stated that the administration of Governor Babajide Olusola Sanwo-Olu, in a bid to transform Lagos into a 21st Century Economy as enshrined in the T.H.E.M.E.S Agenda, approved the transition of the Department to an Agency on 7th February 2020.
According to her, part of the mandate of the new office includes the preparation of rules and regulations for the practice of Estate Agency and other connected matters in the State; identification of persons eligible to be licensed as Estate Agents and Renewal of Annual Licenses; Sanction of unlicensed Estate Agency Practitioners in the State, as well as the investigation of complaints and petitions against Licensed Estate Agency Practitioners, amongst others.
Benson-Awoyinka reiterated that the event complements the Smart City initiative of the present government, where service delivery will be technology-driven and readily available to the masses.
“We remain committed to providing an enabling environment and transparent Real Estate sector conforming to international best practices while safeguarding the ultimate interest of all the stakeholders. As a government, we have provided the creation of an innovative and sustainable environment to promote Lagos as a Real Investment destination in Africa and the World”, she said.
The Special Adviser averred that the website houses a brief history of the agency’s initiatives, aims and objectives, commitment to the people, a complaint section and a registration portal which allows practitioners to upload documents, stressing that the Agency also has social media handles for effective management and communication amongst the stakeholders.