Exciting Development In Lagos Real  Estate Sector By Dr. Kayode Adeogun, National Adviser for ERCAAN on Education and Human Capital Development | Prestige Real Estate News

I am glad representatives of the National Body of Estate, Rent, Commission Agents Association of Nigeria (ERCAAN) are leading the conversation on enforcing the 10% agency fee initiative with key Lagos State stakeholders, including Hon. Moruf Akinderu-Fatai, Commissioner for Housing, and Barrister Barakat Odunuga-Bakare, Special Adviser to the Governor on Housing. As a proud member and National Adviser on Education and Human Capital Development of ERCAAN, I am looking forward to seeing the positive impact of this reform.

That said, I need to emphasise that Lagos State Real Estate Regulatory Authority and other regulatory bodies and stakeholders in the real estate industry still need to put in more effort in overseeing real estate transactions and professionals in the state.

It is important to reiterate that LASRERA should ensure and make it more easier for real estate agents to register with the authority and obtain a license to operate, as we already have quacks in the system tarnishing the image of real estate industry. Honestly, regulatory measures are important to ensure only qualified and licensed professionals operate in the industry.

I also advise that the Lagos State Governor, Babajide Sanwo-Olu should work with LASRERA to provide a robust dispute resolution mechanism, emphasizing mediation and establishing a Committee of Enquiry or what I will call, Real Estate Dispute Agency (REDA) to handle complaints and allegations against real estate professionals. Honestly, it would be my joy if this is given special attention soonest!

I would be fair enough to say that the fmr National President of ERCAAN, Hon. Godwin Abiodun Alenkhe, is really trying his best with his team in the 36 states in Nigeria to drive reforms in the real estate industry!

Without mincing words, since assuming office as the National President of ERCAAN, I am aware that Hon. Alenkhe has since implemented initiatives to ensure all members of ERCAAN register as real estate agents with LASRERA and obtain licenses, ensuring professionalism and accountability. To say the least, Hon. Alenkhe’s efforts have improved the real industry landscape, and I look forward to his continued leadership to finish what he started as the National President of ERCAAN.

Let me quickly add that I am always happy seeing my friend, Abayomi Abiodun Akeem Opakunle, the host of Ile Ara on Miliki 101.3FM using his platform to promote the importance of a regulated real estate industry. Every Wednesday, he highlights the need for good infrastructure, road networks, and a conducive environment for Lagosians. His efforts complement the work of LASRERA and ERCAAN in ensuring that regulatory bodies and stakeholders in the real estate industry do their part to make life bearable for Lagosians. Folks, I urge you, let’s work together to create a more regulated and equitable real estate industry!

As the founding father of ERCAAN; I’m very sure that my father, Chief Michael Adeogun, would be proud reading about these developments in the real estate industry in his life time.

Trust me, with Hon. Alenkhe’s continued leadership, I’m confident we will see more innovative solutions and growth in Lagos and Nigeria’s real estate industry.

Up ERCAAN! Be Honest!

ERCAAN Lagos
Lagos State Real Estate Regulatory Authority – LASRERA

…… Dr Kayode Adeogun is the 
National Adviser for ERCAAN on Education and Human Capital Development.