{"id":12625,"date":"2021-07-16T13:06:31","date_gmt":"2021-07-16T12:06:31","guid":{"rendered":"https:\/\/www.propertypro.ng\/blog\/?p=12625"},"modified":"2021-07-16T13:20:08","modified_gmt":"2021-07-16T12:20:08","slug":"estate-agents-in-lagos","status":"publish","type":"post","link":"https:\/\/propertypro.ng\/blog\/estate-agents-in-lagos\/","title":{"rendered":"Become A Licensed Real Estate Agents In Lagos"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">The Lagos state real estate market is the biggest and fastest-growing opportunity in the country. Lagos real estate agents were immensely favored by the laws of demand. Despite abrupt economic challenges due to covid-19, the sector had a positive growth of 2.81% y\/y in Q4 2020.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Lagos state government under its licensed agency\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/lasrera.lagosstate.gov.ng\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-preserver-spaces=\"true\">LAGOS STATE REAL ESTATE REGULATORY AUTHORITY: LASRERA<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0 as now made it compulsory for every professional in the sector to register to facilitate checks and balances.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This, we also help curb incessant numbers of fraudulent activities in by Lagos <a href=\"https:\/\/www.propertypro.ng\/agents?search=&amp;stateId=1\">real estate agents.<\/a><\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Under the Lagos State Estate Agency Regulatory Law, Cap L28, Laws of Lagos State, 2015 (\u201cLaw\u201d) established the Lagos State Real Estate Regulatory Authority (LASRERA), to look into real estate transactions in Lagos State by identifying persons eligible to be licensed as Real Estate Practitioners.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Here are the document required to get licensed and the portal for registration\u00a0<\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">Evidence of CAC registration and means of identification e.g National Identification Number (NIM)\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0Address to agent operational office.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0A minimum qualification of Senior School Certificate Examination (SSCE).<\/span><\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\">Lagos State Regulation on Real Estate Agent Transactions includes:<\/span><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">\u00a0All real estate practitioners are licensed by the agency and it can also sanction unlicensed real estate practitioners in the State.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0A real estate practitioner must keep records of business transactions and shall open a separate client\u2019s account.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0A practitioner is also expected to ensure that his client performs all his obligations to the Government under the existing laws, such as the deduction and remittance of Withholding Tax, Valued Added Tax or other charges payable on the property he handles.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">\u00a0A practitioner must not collect money from more than one prospective tenant or purchaser in respect of the same premises.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Such a transaction must be remitted to the landlord within fourteen (14) days of receipt unless otherwise directed in writing by the landlord. Money collected from clients shall also be received.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A real estate practitioner shall not charge more than 10% of the total rent collected on any transaction and where the transaction involves sale or purchase of an interest in lands or building and two or more agents are retained by the owner\/vendor for the sale, the fee shall not be more than 15% of the total proceeds of the sale.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A real estate practitioner shall not prepare any legal document pertaining to any transaction handled by him but such a document must be prepared by a legal practitioner and the fees shall not be more than 12.5% of the total consideration.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A licensed estate practitioner shall not act for two (2) principals (clients) on a transaction and shall only be paid by his principal.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">LASRERA is solely in charge of issuance and renewal of annual permits, as well as collating and registering real estate transactions in the state.\u00a0<\/span><\/p>\n<p>Become a licensed real estate agent in Lagos, <a href=\"https:\/\/lasrera.lagosstate.gov.ng\/register.jsp\">Click Here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Lagos state real estate market is the biggest and fastest-growing opportunity in the country. Lagos real estate agents were immensely favored by the laws of demand. Despite abrupt economic challenges due to covid-19, the sector had a positive growth of 2.81% y\/y in Q4 2020. The Lagos state government under its licensed agency\u00a0LAGOS STATE &hellip;<\/p>\n","protected":false},"author":31,"featured_media":12626,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[17,3724,37,32],"tags":[],"class_list":["post-12625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-lagos-tales","category-news","category-real-estate-news"],"_links":{"self":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/comments?post=12625"}],"version-history":[{"count":3,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12625\/revisions"}],"predecessor-version":[{"id":12630,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/posts\/12625\/revisions\/12630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media\/12626"}],"wp:attachment":[{"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/media?parent=12625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/categories?post=12625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertypro.ng\/blog\/wp-json\/wp\/v2\/tags?post=12625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}