The Lagos State Real Estate Regulatory Authority (LASRERA)has entered into a strategic partnership with LuchieGreen Properties and AndyAfrique Properties to launch the maiden edition of Realtors Connect. The initiative is aimed at strengthening credibility in the state’s real estate sector while addressing the growing menace of fraudulent practices by unregistered operators.
According to a statement, the platform seeks to provide a forum where realtors and agents can be sensitised on best practices that meet global standards and enhance trust in property transactions. With fraud and irregularities on the rise in the sector, the move is seen as a vital step toward rebuilding public confidence.
Speaking at the event, the Special Adviser to the Lagos State Governor on Housing, Barakat Odunuga-Bakare, reaffirmed the state government’s commitment to affordable housing for all residents. She disclosed that Lagos has mapped out several strategies to close the housing deficit, including expanded mortgage schemes, rent-to-own initiatives, and other financing models that make home ownership more accessible. She further highlighted the state’s focus on smart and sustainable housing systems, as well as the adoption of technology to simplify property transactions.
Odunuga-Bakare also stressed that under existing policies, real estate practitioners must be duly registered with LASRERA before carrying out any operations in the state. This requirement, she explained, is designed to protect citizens from fraudulent and uncertified realtors who prey on unsuspecting property seekers.
The convener of Realtors Connect 1.0 and Chief Executive Officer of LuchieGreen Properties, Oluchi Okafor, described the platform as a “premium networking event” tailored to bring together stakeholders across the industry. She said it serves not only as an avenue for collaboration and enlightenment but also as a channel for realtors to express their concerns and share experiences that can shape better industry practices.
Okafor identified fraud as a major challenge bedeviling the real estate market, noting that the dishonest activities of some companies have created a credibility gap for genuine operators. She assured the public that LuchieGreen Properties maintains strict standards of transparency and urged buyers to patronise firms that are duly registered with LASRERA. According to her, such registration is an assurance of the legitimacy of property transactions.
Co-convener of the event, Okochi Andrew of AndyAfrique Properties, commended the sector for its resilience and profitability, particularly with the appreciation of landed property over time. He called on entrepreneurs and investors yet to explore real estate to take advantage of the opportunities while avoiding dealings with unregistered agents. Andrew expressed confidence that Realtors Connect would set a new pace for accountability and credibility in the market, ultimately benefiting both practitioners and consumers.
By creating a bridge between regulators, operators, and consumers, LASRERA and its partners hope to reshape the landscape of property business in Lagos. The initiative reflects an ongoing effort to not only curb fraud but also reposition the real estate industry as a credible, transparent, and investor-friendly sector that supports the state’s housing development agenda.
