Eko Hot Blog reports that the Lagos State Government has identified the need to provide specialized training for practitioners in the state’s real estate sector, according to the Special Adviser to the Governor on Housing, Barr. Barakat Odunuga-Bakare.
Odunuga-Bakare stated, “The Authority has identified the need to provide specialized training for practitioners in the state’s real estate sector.”
She noted that appropriate training tailored towards real estate activities will assist practitioners in carrying out transactions in compliance with the Lagos State Real Estate Regulatory law and aligning with the state’s status.
“Appropriate training tailored towards real estate activities will assist practitioners carry out real estate transactions in a way that aligns with the status of the State and in compliance with the provisions of the Lagos State Real Estate Regulatory law,” Odunuga-Bakare said.
During a recent media chat, the Special Adviser emphasized the importance of aligning real estate transactions with the state’s standards and regulations. She attributed perceived fraudulent practices in the sector to the emergence of untrained and unlicensed individuals using real estate as a secondary income source.
“The perceived fraudulent practices in the sector are a result of the emergence of real estate practitioners in different parts of the state who do not have the necessary training and licenses to practice but are rather using real estate as a second fiddle to boost their income,” she stated.
Odunuga-Bakare stressed the need for integrity and professionalism within the real estate sector to safeguard the interests of buyers and sellers.
“Integrity and professionalism must be maintained within the real estate sector to safeguard the interests of both buyers and sellers,” she averred.
The Special Adviser revealed that the training program would cover various aspects of real estate transactions, including legal frameworks, ethical standards, and industry best practices.
“The training programme is expected to cover various aspects of real estate transactions, including legal frameworks, ethical standards, and industry best practices,” she said.
Odunuga-Bakare further stated that the initiative aligns with the government’s broader efforts to promote sustainable development and foster a conducive environment for investment in Lagos State’s real estate market.
“The initiative aligns with the government’s broader efforts to promote sustainable development and foster a conducive environment for investment in Lagos State’s real estate market,” she submitted.
The Lagos State Government aims to elevate the standards of real estate practices through effective regulation, oversight, and specialized training for practitioners, ultimately benefiting all stakeholders involved.
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