Bahamas - Apply for a Real Estate Broker Certificate

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Procedure

Apply In-Person:

1. To become a Real Estate Broker in the Bahamas, interested parties must find a Bahamas Real Estate Association (BREA) Contact Link licenced real estate broker to become a salesperson apprentice under.
2. It can be any broker of your choice. BREA does not assist with this process.
3. Ensure your broker submits your apprentice letter so that we know when you began your apprenticeship.
4. Take the real estate course and exam BREA offers twice per year (times and cost of the course may vary). Current Cost: $2,240.
5. BREA provide all materials needed for that week. (eg. Lectures and books)
6. The course is for 6 days: Monday to Friday 9am to 5pm & Saturday (exam day) 9am to 12pm.
7. The exam must be passed with an 80% or higher to submit a Salesperson application.
8. Upon passing exam, collect a Salesperson application form Link to download from the BREA office and complete all of the information, hand in all required documents, along with required application fee.
9. You will receive an email if your application has been approved by the board.
10. Upon application approval, submit yearly dues payment of $300 and collect your licence.

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Required Documents

• Written confirmation from the licensed Broker of employment, on the Broker's real estate company's stationary, verifying the applicant's employment.
• A copy of a current passport or birth certificate, verifying that the applicant has attained the age of eighteen years, (clause 12(2)(b).
• The applicant shall not have an order in bankruptcy or judgement of court which remains undischarged, (clause (12)(2)(c).
• A copy of a current passport, verifying that the applicant is either a Bahamian citizen or the holder of a certificate of permanent residence with the right to work endorsed thereon, (clause 13(2)(a).
• A copy of a certificate of competence for having successfully completed BREA's Entry Level Course and for having passed the prescribed examination, (clause 13(2)(b) of the Act & Clause 6(2)(b) or the Regulations). Persons with certificates dating more a than six month period prior to application must retake the real estate course.
• One (1) personal bank reference.
• Three (3) written personal reference.
• Three (3) passport-size photographs.
• Form 1, Form 3, and Form 5 completed. Please note that the said Applications are to be proposed and seconded by licensed Brokers, and that individual proposing the applicant must be the licensed Broker of employment.
• Payment of the said Application Fee, in the total of B$150.00 (B$50.00 for each Form).
• A copy of a current police certificate.
• Only completed application with all attachments will be accepted. The Bahamas Real Estate Association will not assume responsibility for incomplete applications.

Office Locations & Contacts

Bahamas Real Estate Association (BREA)
East Shirley Street
P.O. Box N-8860
Nassau, The Bahamas
Tel: (242) 356-4578/325-4942
Email: [email protected]
Email: [email protected]
Website Link
Contact Link

Eligibility

Any person interested in becoming a Real Estate agent can apply.

Fees

• Real estate course and exam Cost: $2,240
• Yearly dues payment: $300

Validity

The license needs to be renewed annually.

Documents to Use

Application Form Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

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Related Videos

Videos explaining the procedure or to fill the applications.
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e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Apprenticeship is necessary, in addition to passing the entry level-licensing course, for an individual who wishes to become a Salesman registered and licensed by the Bahamas Real Estate Association.
• An apprentice must be registered at the start of his apprentice program with a Broker.
• No letters of apprenticeship will be accepted if submitted only at the time of application for licensing, membership, and registration.
• The Administrative Office will ensure that the broker’s letter registering the apprentice is included with the application to BREA for licensing.

Required Information

The proposing broker must submit a letter to BREA on his company’s letterhead containing the following information:

• Apprentice full name
• Apprentice start date
• Broker’s acknowledgement that the apprentice period ;
• Broker’s acknowledgement that the apprentice program will be for a minimum of three consecutive months prior to the applicant’s licensing, membership and registration application to BREA;
• Broker’s acknowledgement that the training period will be conducted under the direction and control of the broker and that the broker will ensure that the applicant has knowledge and understanding of the Code of Ethics and Standards of Practice of BREA as part of the apprentice training.

Need for the Document

The certificate is proof that the owner is recognized by the Board as a person possessing the requisite knowledge and skill to trade in real estate.

Information which might help

The apprentice period is a learning period. An apprentice, while gaining practical experience under the proposing broker, could be defined as support staff. As a general guideline an apprentice may, under the direction of a broker:

• Answer the phone and forward calls
• Fill out and submit listings and changes to any multiple listing service
• Assemble documents for closings
• Have keys made for company listings, order surveys, and inspections with the broker’s approval
• Write ads for the approval of the broker, and place advertising at broker’s direction (newspaper ads, update web sites, etc.),
• Type contract forms for approval by broker
• Compute commission checks
• Record and deposit earnest money, security deposits or rents
• Place signs on property
• Order items of repair as directed by broker
• Prepare flyers and promotional information for approval by broker
• Act as a courier service to deliver documents, pick up keys
• Place routine telephone calls on rent payments
• Schedule appointments for broker to show a listed property
• Be at an open house for security purposes or to hand out materials (brochures)
• Answer questions concerning a listing from which the answer must be obtained from the broker’s employer-approved printed information and is objective in nature (not subjective comments)
• Gather information for a Comparative Market Analysis
• Gather information for an appraisal
• Hand out objective, written information on a listing or a rental under the broker’s direct supervision
• Accompany broker on listing presentations, or sales calls

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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