CIREBA, Over 30 Years Strong!

CIREBA is proud to have been part of the March 2018 publication of The Cayman Islands Journal. The financially focused publication issues several special reports annually, this particular issue focused on the real estate and construction industry in the Cayman Islands. With 30 years of service under our belt, CIREBA continues to support the brokers and agents of Cayman. We invite you to read the article here to learn more about what CIREBA is and our role within the Cayman Islands Real Estate Industry.

The Cayman Islands real estate industry is a strong pillar of the local economy and plays a significant part in the annual GDP, being one of the top four industries to contribute to our local economy according to the Economics and Statistics office of The Cayman Islands.

But what is CIREBA? It’s a not-for-profit association that provides a professional and ethical network to the leading independent real estate companies of the Cayman Islands. It acts as a central source of licensing and information for its members and plays a vital role in the local real estate industry. The Board (currently nine members) serve on a voluntary basis. Royalties are paid on every CIREBA sale to contribute to the running of the Association’s mandate of governing their membership. CIREBA also provide a website, social media and a print magazine that showcases to the public the extensive selection of properties for sale.

To qualify as a CIREBA member, course attendance and on-going examinations are mandatory requirements. Brokers and agents must follow the Association’s strict code of business standards, rules and regulations. A high level of competence and ethics is expected from all members, at the same time CIREBA guides fair business practice to ensure honest and professional dealings in real estate transactions. With this in mind, CIREBA conducts on-going educational courses, professional development and shares annual and mandatory training on Anti Money Laundering, compliance and due diligence in order that agents understand the myriad of tasks involved with helping clients buy and sell homes.

Additionally, the association established a set of commission rates which meant all CIREBA companies were operating at the same fee structure, affording a level playing field.

The addition of the Multiple Listing System (MLS) took the Cayman Islands Real Estate Industry to the next level. It was the first of its kind in the Caribbean region and it created an actual inventory of all members’ property listings which was easily accessible to each member of the Association creating a mutual space to connect real estate members to bring buyers and sellers together. The MLS is based on the North American System and allows agents to locate any available properties that suit their purchasers’ requirements quickly and effciently in a standardized format that is transparent and detailed. The marketplace is more dynamic and effcient for it.

CIREBA is a community minded body, with annual donations to several local charities including a significant contribution of $100,000 to benefit our new Hospice Care building.

For more details visit: https://www.cireba.com/blog/cireba-over-30-years-strong-1

Location: Cayman Islands

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