Wednesday, August 4, 2021

What you need to turn into an authorized land specialist in Lagos

The land area in Nigeria gives outstanding amongst other venture open doors in the country, particularly as it seems the business is one of only a handful few areas that were not influenced by the COVID-19 pandemic.

As indicated by industry players, the area opposed the pandemic’s press, as numerous land firms made more benefit during and after the lockdown.

This article gives a go through of how to get authorized as a land expert in Lagos, which is seemingly one of the chief housing markets in the country.

Prior to jumping into these means, note that the Lagos State Estate Agency Regulatory Law, Cap L28, Laws of Lagos State, 2015 (“Law”) set up the Lagos State Real Estate Regulatory Authority (LASRERA), to investigate land exchanges in Lagos State by distinguishing people qualified to be authorized as Real Estate Practitioners.

The office accommodates the issuance or reestablishment of yearly allows, just as grouping and enlisting land exchanges in the state. The guideline is crucial for checkmate the exercises of fraudsters in the area.

The following, are the things a specialist needs to get enlisted.

* Evidence of CAC enlistment and methods for recognizable proof should be submitted to the office before the permit is given.

* Operational office address should likewise be submitted to the organization.

* A potential licensee should have a base capability of Senior School Certificate Examination (SSCE).

* All land specialists are authorized by the organization and it can likewise endorse unlicensed land professionals in the State.

* A land specialist should track deals and will open a different customer’s record.

* A professional is additionally expected to guarantee that his customer plays out the entirety of his commitments to the Government under the current laws, for example, the allowance and settlement of Withholding Tax, Valued Added Tax, or different charges payable on the property he handles.

* An expert should not gather cash from more than one imminent occupant or buyer in regard to similar premises.

* Such exchange should be transmitted to the property manager within fourteen (14) days of receipt except if in any case coordinated recorded as a hard copy by the landowner. Cash gathered from customers will likewise be receipted.

* A land specialist will not charge over 10% of the absolute lease gathered on any exchange and where the exchange includes deal or acquisition of a premium in grounds or building and at least two specialists are held by the proprietor/merchant for the deal, the expense will not be over 15% of the complete continues of the deal.

* A land specialist will not set up any authoritative archive relating to any exchange dealt with by him however such a record should be set up by a lawful expert and the charges will not be over 12.5% of the complete thought.

* An authorized bequest professional will not represent two (2) directors (customers) on an exchange and will just be paid by his head.


The rules are required to bring compelling guidelines, straightforwardness, and responsibility to the land area in Lagos State. They are additionally intended to give believability and work with documentation measures.

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