The real estate industry is known for a lot of scams.
“As I speak to you, the licensed estate agents in Lagos State are not up to 500"- Chairman declares
Chairman of the Estate, Rent and Commission Agents Association of Nigeria (ERCAAN) speaks on the deplorable state of real estate agents in Lagos state.
Thankfully, the chairman, of Estate, Rent and Commission Agents Association of Nigeria (ERCAAN) is revealing why this is the case.
According to Godwin Alenkhe, it is because there are only 500 licensed real estate agents in Lagos state.
As a result, the number of illegal ones surpass that of licensed ones, which explains the high amount of dupes and scams.
“As I speak to you, the licensed estate agents in Lagos State are not up to 500. The number of illegal ones surpasses that of licensed ones by far; most of them don’t even have offices. We have licensed estate agents in Lagos and it is not easy to get a licence. None of our members is involved in most of the fraudulent activities that you see happening in the sector. We have disciplinary measures in place.”
He went on to appeal to the state government to do something about this.
“We are appealing to the state government to transform the Lagos State Real Estate Transaction Department to a government agency because of the bureaucracy in government departments. The LSRETD is just a department so enforcement is a problem. Two months ago, we raided the Ikorodu area of the state but we want an exercise that will cover the whole of Lagos State so that all the bad representations can come to an end. (But) we realised that politicians don’t want to probably step on toes.”
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