The Lagos State Government has urged all the real estate practitioners operating in the State to register with the Lagos State Real Estate Transaction Department (LASRETRAD) in order to monitor and standardise the industry.
Addressing members of the press on the activities of the Agency in her Office at Alausa recently, the Special Adviser to the Governor on Housing, Mrs. Aramide Giwason implored all estate agents and property service providers who are yet to register to do so with LASRETRAD to enhance adequate monitoring and compliance with international best practice in real estate business in Lagos.
According to her, “There have been series of complaints and sharp practice levelled against some estate agents, especially the unlicensed and quacks in this sub sector that often defrauds and swindles unsuspecting residents who patronise them for real estate transaction.”
While noting that LASRETRAD was established by an Executive Order to regulate, monitor and develop institutional framework for real estate transaction in the state, the Special Adviser emphasised that all hands must be on deck to curtail the activities of quacks or touts in real estate business, not only in the State but in Nigeria as a whole.
She urged Lagosians, especially those who intend to do transaction with any Agent in the State to ascertain the authenticity of the person by finding out the registration status of the agent with the State Government trough LASRETRAD in order to avoid falling into wrong hands.
Giwason further advised the general public to desist from patronising unprofessional and road side estate agents who can run away with their hard earned money whenever they are looking for accommodation.