Tenants, homebuyers advised to avoid pseudo practitioners in real estate sector

Prospective tenants and homebuyers in Lagos State have been advised to avoid people the state has described as pseudo or practitioners who parade themselves as estate agents and developers in the state’s real estate mark.

With a very active rental market and over three million housing market, real estate business in Lagos is very lucrative and that has led to the development of quackery and unwholesome activities by fraudulent elements that take advantage of the high demand to defraud home seekers.

The state government has therefore enjoined residents seeking for accommodation to engage the services of only registered developers and agents across the state.

Wasiu Adedamola Akewusola, permanent secretary, Ministry of Housing, gave this advice during a site visit in Ketu area of the state where a fraudulent property developer collected money from over 262 prospective home buyers for only 15 units of studio apartments.

“Residents of should desist from patronising quacks and criminals when scouting for accommodation and homes to buy,” Akewusola counselled, decrying rate of fraudulent activities by illegal estate agents and developers who, through their nefarious activities, are swindling innocent people of their hard earned money.

“We are greatly concerned about the rise in the criminal and callous activities of some dubious estate agents who lure unwary individuals to purchase non-existent parcels of land or rent one flat out to hundreds of prospective tenants,” he said.

He disclosed that it was the responsibility of Lagos State Real Estate Transaction Department (LASRETRAD), a directorate under the Ministry of Housing, to register, monitor and regulate activities of genuine estate agents and developers.

The permanent secretary advised intending tenants to ensure that they transacted business with only registered agents who could be recognized by the state government’s estate agents registration banner.

He seized the opportunity to enjoin the people to continue to have confidence in government’s ability to fulfil the mandate of providing accessible, affordable and qualitative housing. “Lagos State is a responsible government and will not relent in its efforts at ensuring that the well-being of the people is upheld,” he said