Tag: CIREBA
Does CIREBA vet its members?
Does CIREBA run background checks on all its recognised agents, e.g. for any prior criminal records (particularly given the large sums of money they have access to)? Auntie’s answer: The Cayman Islands Real Estate Brokers Association (CIREBA) requires a prospective member to submit a police clearance certificate, which is what the Department of Immigration mandates […]
Unhappy with CIREBA’s commission rate
In a recent case in the UK six real estate agents were fined £370,000 for colluding in fixing their commission rates at 1.5%. An article can be found about it here. This practice is against the law in the UK and many other countries. In Cayman the standard commission rate is set by CIREBA and for most […]
Selling a property without CIREBA
My condo on Grand Cayman is listed with CIREBA. Can any CIREBA agent sell it or just the agent I listed it with? Can non-CIREBA real estate companies sell my property or am I now obligated to go through CIREBA? Can I sell it without using an agent and if so, how? Auntie’s answer: I […]
