Does the property multiple listing system in the Cayman Islands offer any advantage?
- CIREBA News
- Jan 13, 2018
Multiple Listing System (MLS)
The fact that CIREBA as an organisation has shaped the Real Estate Industry so significantly is testament to the advantages of what the property multiple listing system in the Cayman Islands can offer, whether it be to buyers, sellers, real estate agents or Cayman Real Estate Companies.
From a buyers or investors perspective when researching where to buy Property for sale in the Caribbean, you can only conclude that the Cayman Islands Real Estate industry is highly regarded. It offers an amazing varied portfolio of quality properties, actively encourages investment in the Island, is highly regulated by CIREBA and because of the many advantages offered by Multiple Listing System, buyers can have more confidence when conducting transaction in the Cayman Islands.
CIREBA has developed a system that allows property buyers to work with one real estate agent throughout the whole process. The product of this is a better experience for buyers. Property purchases are often the biggest investments people make in their lives and so having the opportunity to build a relationship and develop trust with your realtor can alleviate much of the stress and difficulties associated with buying a home.
The process begins with a seller listing their home with an agent. Once an agent receives a new listing it is added to the MLS (Multiple Listing System). This is then accessible by all CIREBA members.
Your preferred Cayman Real Estate Agent will have access to all CIREBA’S listing through the Cayman MLS and can research properties on all three of the Cayman Islands to show the listings that best match your requirements.
The environment that CIREBA has created is one where agents cooperate with each other whilst upholding the strict code of ethics laid out by CIREBA.
Advantages to buyers and sellers:
- The MLS means that properties listed through one CIREBA member company are available to every CIREBA agent and company to show and sell.
- All members work within CIREBAS strict rules and regulations and are bound by the CIREBA Code of Ethics.
- Working with a CIREBA members results in faster, more efficient real estate transactions.
- CIREBA has regulated procedures to professionally manage any incidents or complaints that may occur.
- For sellers, listing your property with a CIREBA member means that all 34 broker members and over 168 agents will have access to information via the MLS
Advantages for CIREBA Members:
- The members of CIREBA are currently responsible for around 74.5% of Grand Cayman Property Listings and sales volume on the Island.
- CIREBA members have access to all CIREBA real estate agent’s listings through the MLS.
- The system is easy and accessible for realtors to use.
- Realtors can search and find the best property match for their clients from the large portfolio of listings.
- The MLS means that realtors can be fast and efficient when conducting property searches.
- When the real estate agent is different from the listing agent the commission fees are split equally between the two agents.
- CIREBA has a structured commission guideline based on the value of the property.
There are many advantages to using a CIREBA’s Multiple Listing System so if you are looking for your next property then speak to a CIREBA member today about how they can help you.