The Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, has condemned the rising cases of exploitation and unprofessional conduct among real estate agents in the state, calling for immediate regulatory action to protect residents and restore trust in the property market.
Ogundoyin made the declaration on Wednesday, November 2025, while delivering his keynote address at the Oyo State Real Estate Conference held at Jorgot Center, Ibadan. The event, themed “Real Estate and Economic Development in Oyo State: Strategies for Success,” brought together stakeholders in the housing and construction sectors to discuss pathways for sustainable real estate growth in the state.
Addressing participants, the Speaker expressed concern over what he described as the “unlawful acts” of some real estate agents who have continued to exploit residents, particularly low- and middle-income earners, through exorbitant and unregulated legal and agency fees.
“Residents have been raising concerns over the unlawful act of real estate agents, many of whom extort them by charging exorbitant legal and agent fees without standard procedures or accountability,” Ogundoyin stated. “This practice has made housing more difficult, especially for low- and middle-income earners.”
The Speaker revealed that the Oyo State House of Assembly has passed a motion urging the Executive Arm of Government, relevant stakeholders, and the Ministry of Lands, Housing and Urban Development to collaborate in designing a regulatory framework that would sanitize the real estate sector.
He emphasized that only through proper legislation, public awareness, and strict enforcement could the sector regain professionalism and public confidence.
“It’s time for the law to take its full course. Every real estate agent and other quacks that move against the law must be arrested and prosecuted to serve as a lesson to others. Only through strict enforcement can trust and professionalism be ensured, thereby safeguarding the interests of the public and investors in the real estate market,” the Speaker added.
The conference also explored innovative approaches to urban development and housing accessibility, aligning with Oyo State’s broader vision for economic transformation and sustainable growth.
