Oyo Speaker Ogundoyin Calls for Regulation of Real Estate Agents, Backs Makinde’s Efforts on Land Reforms

The Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, has expressed concern over the unregulated activities of real estate agents across the state, warning that their exploitative practices are making access to housing increasingly difficult for residents, especially low- and middle-income earners.

Speaking while delivering his keynote address at the Oyo State Real Estate Conference 2025 in Ibadan, the Speaker decried how many agents exploit clients by charging exorbitant agency fees without standardized procedures or accountability.

According to him, such practices have placed undue financial burdens on potential tenants and property buyers, thereby worsening the housing accessibility gap in the state.

“Residents have increasingly raised concerns over the unregulated activities of real estate agents, many of whom exploit clients by charging excessive agency fees without standardized procedures or accountability,” Ogundoyin said. “This practice has made access to housing more difficult for many, particularly low- and middle-income earners, and there’s a need to correct this situation.”

In his reaction to excessive of the real estate agents, the Speaker revealed that the Oyo State House of Assembly had passed a resolution urging the Executive arm of government and relevant stakeholders, particularly the Ministry of Lands, Housing and Urban Development to design a comprehensive regulatory framework that would sanitize the sector and protect residents from exploitation.

“We have to work together in order to achieve success in this sector,” he said.

“You cannot tell a private homeowner how much to rent out their property, neither can you dictate to an agent what to charge, but we must collaborate to bring the extortion of low- and middle-income earners to the barest minimum. It is a joint effort.”

Ogundoyin emphasized that beyond introducing new regulations, there must be strict enforcement of existing laws to ensure compliance and accountability within the real estate sector.

“It is now time for the laws to take their full course. Any agent found guilty of exploitation or malpractice must be prosecuted to serve as a deterrent to others,” he declared.

The Speaker also commended Governor Seyi Makinde for his administration’s ongoing efforts to reform the land administration system and address the menace of land grabbing, a major challenge affecting real estate investment in the state.

He noted that the establishment of the Anti-Land Grabbing Task Force, empowered to investigate and prosecute illegal land acquisitions and harassment of landowners, has restored confidence among investors and property developers.

“If anybody comes across Omo Onile (land grabbers), I guarantee you that the Oyo State Government is determined to ensure that any situation that could cause problems for investors is reduced to zero,” Ogundoyin added.

He reiterated the commitment of the Oyo State House of Assembly to continue partnering with the Executive and private sector stakeholders to build a transparent, investor-friendly, and people-centered real estate ecosystem in the state.