The Lagos State Government has issued a stern warning to residents to be vigilant against fraudulent estate agents and swindlers who are aggressively marketing estate flats for sale or rent on social media platforms. Authorities caution that many of these agents are unregistered and use deceptive tactics to defraud unsuspecting home seekers across the state.
The warning follows a surge in complaints about fake listings and impostors exploiting social media’s wide reach to target desperate tenants and buyers. Many victims reportedly made payments or signed agreements for properties that either do not exist or are not legally available for sale or rent.
LASRERA Urges Verification and Patronage of Registered Agents
The Lagos State Real Estate Regulatory Authority (LASRERA) reiterates the importance of dealing only with officially registered estate agents. Barakat Odunuga-Bakare, the Special Adviser to Governor Babajide Sanwo-Olu on Housing, emphasized that LASRERA maintains a publicly accessible list of 925 registered real estate professionals. She warned that engaging unregistered agents carries serious financial and legal risks.
Odunuga-Bakare stated,
“We urge Lagosians to verify the registration status of agents before making any payments or signing contracts. This simple step can prevent huge financial losses.”
The government added that operating as an estate agent in Lagos without LASRERA registration is an offence punishable under state law. Residents are encouraged to report suspicious agents to LASRERA to help curb fraudulent activities and promote transparency within the real estate sector.
Common Scams Plaguing Lagos Real Estate Market
Several familiar fraud tactics have been identified, including:
- Advertising fake property listings that lure victims with unrealistically low prices or prime locations.
- Engaging in multiple rent collection, where the same property is rented out to several tenants without their knowledge.
- Selling lands without valid titles or through unauthorized “Omonile” middlemen claiming ancestral ownership.
- Concealing hidden fees and providing fake property documents to entrap buyers.
Experts advise buyers and renters to conduct physical inspections, verify ownership and registration documents at government registries, and avoid rushed deals pushed by scammers.
Community and Industry Calls for Vigilance
Real estate professionals and consumer advocates support the government’s alert, urging Lagos residents to exercise due diligence amid the booming but risky property market. Social media users have also joined conversations warning others with hashtags spotlighting rental fraud and fake agents.
With Lagos continuing to be Nigeria’s commercial hub and real estate market hotspot, the government’s campaign aims to protect consumers, restore trust, and foster a safer property environment.
Residents looking to transact in Lagos real estate are urged to consult the official LASRERA portal and contact the agency directly for guidance before committing funds.
The Lagos State Government is committed to intensifying enforcement against fraudulent estate operators to safeguard property seekers and uphold market integrity.