24/04/2026
As a practicing real estate professional in Lagos, I must admit that it is becoming increasingly disheartening to watch the steady erosion of standards within our industry. What was once regarded as a structured and respected profession is now, unfortunately, being diluted by the growing presence of untrained and unregulated individuals—commonly referred to as quacks.
These individuals, who often lack the requisite training, certification, and ethical grounding, have significantly undermined the credibility of genuine practitioners. Their activities have not only distorted public perception but have also made it difficult for clients to distinguish between professionals and opportunists. As a result, even some trained practitioners are beginning to lose their sense of pride and commitment to the standards that once defined our work.
One of the most troubling manifestations of this decline is the arbitrary manipulation of agency fees. Traditionally, the accepted professional standard for agency fees is 10% of the annual rent. However, in today’s Lagos market, this guideline is frequently ignored. Quacks now impose excessive and unjustifiable charges at will, contributing to the already high cost of renting apartments and placing undue financial pressure on tenants.
This raises an important question: where are the regulatory mechanisms meant to protect both practitioners and the public? While bodies exist in principle, their enforcement capacity appears limited, allowing these unethical practices to thrive unchecked. The absence of strict oversight and consequences has created an environment where malpractice flourishes.
To restore integrity to this noble profession, there must be a collective effort. Regulatory bodies need to be more proactive and visible in enforcing standards, licensing practitioners, and sanctioning offenders. At the same time, clients must become more discerning—verifying credentials and refusing to engage with unregistered agents. As professionals, we must also recommit ourselves to ethical practice and uphold the standards that define our field.
The future of real estate practice in Lagos depends on decisive action. If we fail to address this growing menace, we risk completely losing the trust and respect that this profession once commanded.
