The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A two-term former president of the Bahamas Real Estate Association (BREA) is calling for an amendment to the Real Estate Brokers and Salesman Act (1995), telling Tribune Business yesterday that the previous administration erred when it incorporated  BREA into the Real Estate Board.

“The purpose of a Real Estate Association is to provide avenues for its members to improve themselves professionally and academically, and to advocate for policies on behalf of its members,” Patrick Strachan said.

“The President and officers of an association ought to be elected by its members ,like it’s presently done.  The Real Estate Board’s chairman, vice-chairman, secretary, treasurer and directors should be appointed by the Government.  The reason for that is so that the persons who are responsible for licensing are not directly in the business, and I think part of the problem is the persons who are issuing the licenses are also real estate brokers.

“In the state of Florida, for example, real real estate licenses are issued by the Florida Real Estate Commission.  The president of the Florida Real Estate Association is not the chairman of the Florida Real Estate Commission and there is a reason for that,” added Mr Strachan.

“The present situation creates a blatant conflict of interest.  Nowhere in any civilized society, or where the real estate profession is legislated, is the president of the Association and the chairman of the Real Estate Board one and the same.  Not in the state of Florida, Nevada or California, where therein are the pioneers of real estate law.”

BREA’s president, Franon Wilson, said yesterday that he would not comment on Mr Strachan’s remarks, adding he was not quite clear on what his predecessor was getting at and wanted to get a better understanding of his complaint.

“The Government does not select any officers to the Board. They select officers to certain boards of the Real Estate Association. When you look at all theBoard appointees recently, you see the real estate association and disciplinary committee. They would have appointed several persons to the disciplinary committee as well ,and that committee deals with the revocation of licenses,” said Mr Wilson.

Mr Strachan said an additional conflict arose out of the relationship between the Multiple Listing Service (MLS) and the Real Estate Board relationship. 

“Again, nowhere in any civilised society is the MLS owned and managed by the Real Estate Board,” he argued. 

“The MLS is always owned and managed by a private company or the Association to avoid the perception of conflict of interest. 

“It is unheard of for the MLS to be owned by the Real Estate Board, the body that governs the profession and gives licenses. I call on the Attorney General’s office to review the Act and make amendments as soon as possible. 

“I advise the AG’s Office to separate the Board and Association, and they (government) appoint officers to the Board and allow BREA to elect its own officers. “