Why real estate practitioners must register with government says lagos official

According to the Lagos State Government, real estate practitioners must register with the government for several reasons. Here are some of the key reasons:

1. Regulation and Control: The Lagos State Government wants to regulate the real estate industry to ensure that only qualified and competent practitioners operate in the state. Registration helps to weed out unqualified individuals and ensures that only licensed professionals are involved in the buying, selling, and management of properties.
2. Protection of Consumers: By registering with the government, real estate practitioners demonstrate their commitment to providing quality services to consumers. This helps to protect consumers from fraudulent activities, such as scams and misrepresentation, and ensures that they receive fair treatment in property transactions.
3. Compliance with Laws and Regulations: The Lagos State Government has enacted laws and regulations governing the real estate industry, such as the Lagos State Real Estate Transaction Law, 2015. Registration with the government ensures that real estate practitioners comply with these laws and regulations, which helps to maintain order and stability in the industry.
4. Taxation and Revenue Generation: Registration with the government allows the state to collect taxes and fees from real estate practitioners, which contributes to the state's revenue generation. This helps to fund public services and infrastructure development in the state.
5. Data Collection and Analysis: The government can collect data on registered real estate practitioners, which helps to analyze the industry's performance, identify trends, and make informed decisions to promote the growth and development of the sector.
6. Enhanced Professionalism: Registration with the government encourages real estate practitioners to maintain high standards of professionalism, ethics, and integrity. This helps to build trust between practitioners and consumers, which is essential for the growth and development of the industry.
7. Access to Government Services: Registered real estate practitioners may have access to government services, such as permits, licenses, and approvals, which are necessary for the smooth operation of their businesses.

In summary, registering with the government is essential for real estate practitioners in Lagos State because it helps to regulate the industry, protect consumers, ensure compliance with laws and regulations, generate revenue, collect data, promote professionalism, and provide access to government services.