Let’s call it how it is. Real estate agents don’t have the best of reputations. We get it.
Unfortunately, like any profession, a few bad apples can ruin it for the bunch.
Such a big life decision, buying or selling your home, deserves to be met with professionalism and integrity.
We care about you, and because we care we’ve compiled a quick checklist to ensure that you get the best possible representation, wherever you are on your property journey.
Your Realtor Checklist
Whether you are a first-time buyer or an experienced investor, your Cayman realtor should have:
1. Real Estate Expertise
The property market, particularly right now, is fast-moving. To effectively meet your real estate needs, you need an agent:
- well versed in the local Cayman property market
- who understands the financial requirements for purchasing a property in Cayman
- knows the Cayman stamp duty tax rules and exemptions
- able to interpret strata regulations and bylaws
- who is comfortable overseeing the complete property transaction (including contracts, due diligence screening, market analysis reports, disclosures, and other legal documents – effectively managing any roadblocks to ensure a seamless experience for you)
- who cares about you! Above anything else, choose an agent that has your best intentions at heart.
2. Objective Real Estate Information
Your agent should easily be able to provide accurate and up to date information on re-locations, utilities, the rental market, zoning, schools, and more. They have objective stats about each property, data that should be shared with you so you can decide how to move forward with listing your home or placing a purchase offer.
3. CIREBA Qualifications
Real estate laws, regulations, and processes are intricate. You want a realtor who knows the ethical and legal requirements of buying and selling property inside and out. All members of the Cayman Islands Real Estate Brokers Association (CIREBA) must complete specific training and testing to demonstrate their understanding of real estate law, contract law, and their duties as an agent. CIREBA also has a strict code of ethics that all members must adhere to. So by selecting an agent who is CIREBA member, you can rest easy knowing you have a qualified professional in your corner.
4. Trusted and Candid Real Estate Advice
Life can throw us some unexpected curveballs. It is essential that during these times, you have a trusted and experienced professional that you can lean on. Someone who will tell you exactly how it is and the best way for you to navigate your way out the storm.
“We were about to close on a Seven Mile Beach condo, and then COVID struck. Our household income, like many others, took a hit. And like the rest of the world, we felt uncertain about the economy and the property market. So to say we were stressed about our pending property purchase, was an understatement. I reached out to Jude for advice. We discussed the situation, weighing all the possible scenarios, and ultimately ended up pulling our offer. The feeling of relief was instantaneous. It was the right decision for us, and we can’t thank Jude enough for her honest advice. She put our happiness and security above everything.” – Dr Derek Spence, Property Cayman Client
5. Real Estate Negotiations Skills
In the property business, there are many elements, unique to each sale, that are up for discussion. You deserve to feel well informed and confident throughout the negotiation process. An experienced realtor should provide helpful insights and knowledgeable advice. They should safeguard your needs throughout the entire property journey. With the right agent, there should be zero doubt that they have your best interest at heart. Remember, the highest offer isn’t always the best offer.
6. Professional Networks
Property transactions are complex. There are a lot of cooks in the kitchen – buyers, sellers, agents, attorneys, inspectors, lenders, and often financial or investment advisors. An established, well-connected agent can provide their customers and clients access to an instant network of qualified and trustworthy professionals.
7. Real Estate Marketing
Believe it or not, houses do not sell themselves. Your real estate agent’s marketing strategy is absolutely critical. How your property is listed and promoted will directly influence the number of buyers walking through your door, and the quality of the offers you receive.
In a nutshell, a good agent can efficiently manage all the intricacies of the real estate transaction process, protecting their client’s interests and minimizing their hassle.
It is about the client, not the sale.
The business of real estate is about relationships.
We provide candid advice, helping clients avoid costly pitfalls, allowing them to minimize the headaches of selling while maximizing their profits.