A real estate firm, 1st Choice Properties Limited, has launched a mobile application designed to curb fraud and restore credibility in Nigeria’s real estate sector.
Speaking at the unveiling in Lagos on Tuesday, Taiwo Oladapo, the managing director (MD) of the company, described the platform as a major intervention against arbitrary pricing, illegal middlemen and fraudulent property transactions.
He said the app marks “a new phase” for real estate in Nigeria, as it introduces verified listings, transparent pricing and regulated practices for landlords, agents and tenants.
The MD noted that the platform was created to save Nigerians from the stress, losses and long-term consequences of poorly documented property transactions.
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“We have come to create an app that can stop real estate fraud and sanitise property transactions in Nigeria,” he said.
“This is not about making profit alone. It is about saving Nigerians from losing millions every year due to lack of verification and proper information.”
He said the app will host only verified properties, adding that landlords, agents, and tenants on the platform will also be subjected to verification processes.
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According to him, all agents operating on the platform must be registered with the Lagos State Real Estate Regulatory Authority (LASERA), while illegal middlemen will be eliminated.
Oladapo noted that many Nigerians lose properties years after purchase because they fail to verify land status with the relevant authorities.
He warned that buying land without verifying with appropriate authorities often leads to demolition after decades of investment.
“You are not buying a property for 10 or 20 years; you are buying it for generations,” he said.
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“Imagine working for 40 years, buying land, and one day the government comes to demolish your house. That is why verification is critical.”
‘DUE DILIGENCE IS IMPORTANT IN REAL ESTATE BUSINESS’
He advised prospective buyers and tenants to conduct adequate due diligence before making payments, urging them to visit state ministries of lands to confirm the status of properties and avoid future disputes or demolitions.
The managing director said the company is not driven by profit but by the need to make the sector function with minimal fraud.
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He announced that property viewing on the app will attract zero charges before purchase, while commission and agreement fees will be capped at not more than five percent of the rent or acquired property.
Oladapo said landlords on the platform will only be allowed to review rents after four years, rather than increasing charges arbitrarily, adding that housing costs should be fair and predictable.
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He called on the government to digitise property verification processes to make them accessible and transparent, noting that manual systems and excessive documentation costs discourage compliance and fuel corruption.
He also urged the government to reform mortgage policies, recommending a minimum repayment period of 20 years to reduce Nigeria’s housing deficit and make home ownership more accessible to citizens.
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“Our lives should not be this stressful just to rent or buy a house,” he said.
“We are here to stay, to make Nigeria a place where property purchasing is trusted, transparent and safe for everyone.”
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He added that the 1st Choice Property app is built to protect the interests of both landlords and tenants while creating a reliable ecosystem where properties are properly documented, fairly priced and free from fraud.
