The Tribune

The Bahamas Real Estate Association's (BRWA) newly-elected president has pledged to make the fight against illegal sales by foreign brokers her top priority.

Christine Wallace-Whitfield, the first woman to serve a record fourth term as BREA president, told the 50-plus members who attended its virtual annual general meeting (AGM) that the organisation is working with the Attorney General's Office to ensure better enforcement of existing laws.

"BREA continues to work alongside the Attorney General's office on legislation to prevent foreign brokers, agencies and fraudulent entities from engaging in the practice of real estate illegally in The Bahamas," she said.

"Our goal is to ensure the Real Estate Act protects our industry, a field reserved for Bahamian citizens and those with the right to work in the country."

The subject of foreigners earning substantial commissions selling property in The Bahamas without affiliation or co-broking with a Bahamian agency has long been a controversial topic for BREA and its 700-plus member association.

"BREA-licensed agencies have not only met our standards and passed our exams, which are based on the US-based National Association of Realtors courses and licensing procedures, but they know Bahamian law, financing, our tax regimes, and because they live or operate in the area or on the island where a home or parcel of land is, they have local knowledge," said Mrs Wallace-Whitfield.

"All of that is critical to creating a seamless transaction with a transparent outcome that protects the real estate industry as a whole."

She added that Bahamian realtors pay National Insurance contributions, VAT on income, and contribute to the Bahamian economy in "dozens of ways" unlike foreign brokers.

"All we ever ask is that is the foreign individual, who may have clients interested in The Bahamas, apply for affiliation with a local agency and work on a co-operative basis," she said.

"There are many who do so successfully and that success is shared. That is the law and, for too long, we have stood by urging enforcement while the foreigner slips in under the radar, pretending to be a visitor at the border."

Mrs Wallace-Whitfield said the Association was also working on the introduction of BREA identification cards to facilitate entry into gated communities for property showings.

She said interest in The Bahamas remains high despite Hurricane Dorian and the COVID-19 pandemic, which resulted in a nearly three-month lockdown that started in March with tourism still not fully operational.

BREA also presented its first Good Neighbour award to Ashley Brown, a broker with Damianos Sotheby's, who "answered the desperate need for housing following Dorian" by creating a group that used social media, calls and every avenue they could to locate housing and put displaced families from impacted islands into secure homes in Nassau.

"There were so many agents who assisted and we want to thank each and every one, and all those agencies which introduced divisions searching for free or very affordable housing for displaced families," Mrs Wallace-Whitfield said. "This is the true spirit of industry professionals, pulling together to pool resources and know-how to help others."

Retiring BREA directors and officers were Heather Peterson, Lana Rademaker, Jolika Buckner and Elbert Thompson. The 2020-21 BREA board includes returning officers Hartman Longley II, vice-president; Cara Christie, secretary; and Sara Callender, treasurer, along with new directors Kim Kikivarkis-Dillett; Helen Dupuch; Sally Hutcheson; Brian Austin; John Constantakis; Jim Bernard; Nikki Boeuf; Mike Lightbourne; Kimra Ritchie-Sweeting; and Kirk Ingraham.