Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Brokerage means the role of a broker that facilitates a business transaction between two parties. Brokerage in Gbagada, Nigeria, applies chiefly to asset and property transactions, real estate, and stock broking. The law provides for ethical and lawful conduct of brokerage activities, including fair dealing, full disclosure, and protecting the interests of the clients. For real Estate Brokers, it is mandatory to be recognised by the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON).
You might need a lawyer in circumstances such as: acquisition or sale of properties; if you need to challenge a brokerage contract; if there's any dispute regarding commission or fees; in cases of suspected fraud or illegal conduct and; if there are any violations of your client-broker rights.
The focal point of brokerage in Gbagada, Nigeria, is the Investment And Securities Act (ISA) which regulates the activities of Stockbrokers and the Real Estate laws. The act provides detailed accountability and conduct expected from the stockbrokers and the penalties for violations. Concerning real estate brokerage, the Lagos State Real Estate Transaction Department is responsible for monitoring and regulating real estate transactions in Lagos State to protect consumers from fraudulent activities.
A broker in Gbagada facilitates business transactions between two parties, usually linking buyers and sellers in return for a fee or commission.
Ensure your broker is registered with the appropriate regulatory bodies, for real estate brokers they should be recognised by the NIESV and ESVARBON, while Stockbrokers should be recognised by Securities and Exchange Commission (SEC).
You should immediately consult with a legal adviser and report to the appropriate governmental bodies including the EFCC (Economic and Financial Crimes Commission).
Yes, you can. If a broker performs services that fall below the standards set lawfully and ethically, you can sue for damages.
Brokerage fees are typically a percentage of the total transaction price. The specific percentage can vary based on different factors and should be set out in your initial agreement with the broker.
You should contact regulatory bodies - the Securities and Exchange Commission (SEC), Nigerian Stock Exchange (NSE) for stock brokerage and NIESV and ESVARBON for real estate brokerage. Websites such as Nigeria-law.org and nigerianstatutes.com provide useful resources regarding Nigerian laws.
If you need legal assistance in Brokerage in Gbagada, Nigeria, research and reach out to legal professionals with experience in the area. Ensure a contract detailing all the terms of the broker-client agreement is written and signed by both parties. Always consult your legal adviser before making any decision.
