The Special Adviser to the Governor of Lagos State on Housing and the Head of the Lagos State Real Estate Regulatory Authority (LASRERA), Bar. Barakat Odunuga-Bakare once lamented that the number of unregistered individuals posing as professionals in Lagos State far outweighed the registered and regulated ones.

She warned members of the public and real estate investors to exercise extreme caution, noting that such unscrupulous elements have defrauded unsuspecting people of their hard-earned money.

Indeed, the high number of unregistered practitioners in Lagos alone can be attributed to the prevalence of scams and fraudulent activities in the sector.

In an instance, a pop-up notice on the website of “Omonile Lawyer” highlighted how investors have lost several billion of naira to scammers and fraudsters in the Lagos real estate space for failure to carry out due diligence before committing their money.

The most vulnerable are diaspora investors who have fallen prey to property scams. Many have lost millions of naira due to distance, lack of local verification, and reliance on dishonest family members and friends.

To help you protect your investment and avoid costly mistakes, this article outlines practical steps to verify the legitimacy of a real estate agent in Lagos before committing your funds.

Confirm Membership of a Recognised Professional Body

One of the first checks is to determine whether the agent or agency belongs to a recognised professional association.

In Nigeria, notable real estate bodies include:

• Estate, Rent and Commission Agents Association of Nigeria (ERCAAN)
• Real Estate Developers Association of Nigeria (REDAN)
• Nigerian Institution of Estate Surveyors and Valuers (NIESV)
• Association of Estate Agents in Nigeria (AEAN) (an affiliate of NIESV)

Membership of these bodies is a confirmation of an agent’s commitment to professional standards and ethical codes. You can verify claims of membership by contacting these organisations directly through the details provided on their official websites.

Check LASRERA Registration and Permit Status:

The Lagos State Real Estate Regulatory Authority (LASRERA) is responsible for regulating real estate activities in Lagos State. Its mandate includes issuing permits to real estate practitioners (agents and developers) and curbing fraudulent practices.

Before you engage any agents, confirm whether they are registered with LASRERA. Although the agency is currently upgrading its website for improved service delivery, verification can still be carried out in their office or through their official communication channels, including its verified social media platforms.

Agents who are operating without LASRERA recognition exposes clients to unnecessary risks.

Verify Compliance with Anti-Money Laundering Regulations (SCUML)

Under the Money Laundering (Prevention and Prohibition) Act, 2022, real estate agents in Nigeria are required to register with the Special Control Unit Against Money Laundering (SCUML) under the Economic and Financial Crimes Commission (EFCC).

SCUML registration is a legal requirement for real estate practitioners and shows compliance with anti-money laundering and counter-terrorism financing regulations.

Agents should be able to confirm their SCUML registration when asked. Where necessary, further information can be obtained through official EFCC/SCUML channels

Confirm Registration with the Corporate Affairs Commission (CAC)

A legitimate real estate agency should be registered as a business entity with the Corporate Affairs Commission (CAC). This shows it is legally recognised and committed to operating within Nigeria’s legal framework.

Before you engage an agent, verify their registration details using the CAC public search portal. An agent who operates without a verifiable business registration should be treated with caution.

Visit or Verify Their Physical Office Location

Physical presence matters in Lagos real estate.

If possible, visit the agent’s office. Speak with the staff and businesses around to get useful insight on how long the company has been operating in that location. By the time you spend a few minutes around, you will be surprised by how much information you can gather about the company

For diaspora investors who may not be able to visit in person, engaging a trusted local representative or professional firm to carry out this verification is highly advisable.

Review Their Website

A professional real estate agency should have an official website with clear information that can be verified. This should include:

• Business name and registration details
• Contact addresses and phone numbers
• Email addresses probably linked to the business domain
• Social media handles and other communication channels

Ask Questions and Seek Independent Opinions:

Do not rely solely on what the agent tells you.

• Ask detailed questions about past transactions
• Request references where possible
• Browse trusted platforms for reviews or testimonials
• Speak with friends, colleagues, or associates who may have transacted business with the agency before.

Your goal here is to obtain consistent details about the agency across multiple sources.

The Lagos real estate market offers huge opportunities, but it also requires careful navigation. Many of the losses recorded by investors—especially those based abroad—could have been avoided through basic verification steps.

Taking time to conduct due diligence—confirm registrations, affiliations, physical presence, and compliance status—goes a long way in securing your investment and preventing costly mistakes.

If you’re in doubt, seek professional consultation and guidance and never allow anyone to put you under pressure to make a hasty and costly real estate decision. In Lagos real estate, due diligence is not optional—it is essential.