Calls for agents to be licensed

Hence the renewed call for a mandate for the acquisition of a real estate license before one can begin buying/selling property in Trinidad and Tobago (TT).

The call comes from CEO of Massy Realty and winner of the Lifetime Achievement Award at TrinidadRealtor.com’s 2016 Real Estate Awards, Sharon Inglefield, who spoke to Business Day shortly after receiving her award at Queen’s Hall, St Ann’s on October 20.

“Agents have been pushing for licensing for some time now. We need that, particularly in these times of AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism) legislation.

We need to continue pushing for (mandatory) real estate licenses because it’s for the greater good of our industry and of the country.” Inglefield replied “Yes” when asked if anyone can open an agency in TT without first at least completing one of the real estate courses offered by either the Association of Real Estate Agents of TT (AREA) or by the UWI School of Business and Applied Studies (trading as ROYTEC).

“It’s self-regulated but we do have very serious AML/CFT laws, so that we do complete ‘Know Your Client’ forms; client due diligence checks, to ensure that clients’ money is ‘good’, that their business is good.” Business Day asked if the industry can implement regulation by itself or if Government needs to play a role.

Inglefield replied, “Licensing would be Government licensing.

I think the Ministry of the Attorney General would be the best ministry to oversee it...

because of the recent threat with more money laundering, with more tax evasion and certainly the terrorism that exists, I think they (Government) should have licensing and enforcement of our laws. That’s very important - enforcement of our laws.

Inglefield’s stance on regulation was echoed by co-founder of TrinidadRealtor.com, Shane Correia.

“AREA is a pioneer of trying to get regulations passed, which we support. Right now, it’s really whoever wants to be a real estate agent can do so but you can really trust the agents/agencies listed on our site because they are the ‘tried and tested’ agents who have been in the business for many years and who have proven track records.” Correia told Business Day the Government “needs to really take a strong look” at the sector due to the “very important role real estate plays in society and in the economic base of the society.” He said if Government were to ‘come on board’ by establishing a regulatory body that would be responsible for real estate licenses to persons wishing to operate in TT.

“I think that’s the right way forward. We can’t continue to have a ‘wild west’ of real estate, where anybody who thinks they can sell property can enter the market. We need people to be regulated, taught the right things, pass exams and be licensed to sell real estate.” Correia added that people often ask why he’s in support of regulation. To which he replies, “I want regulation badly because my product would be better. I would have a listing of licensed, qualified agents operating in TT.

We’ve actually declined requests by some people to become a member of TrinidadRealtor.com because they didn’t fit the bill of what we consider to be a proper real estate agent.” What are these requirements? Applicants “must have some sort of experience/established agents who can vouch for them, or they must have done an AREA or ROYTEC course in real estate.

Then we ask our members if they have ever worked with this person. If yes, we ask if the person was good or bad. So we use our members as the barometer,” Correia explained, “to help determine if new persons could come on board.” He said if these checks reveal “somebody is in ‘bobol’ (corruption) or not doing things the right way, we don’t allow them to be listed on our site because if someone comes on TrinidadRealtor.com and has a bad experience, they’re most likely going to (associate) our website with that. So we always do our best to make sure the agents listed there are the best of the best.” Correia said the site currently has just over 75 real estate companies and more than 260 real estate agents who belong to those companies.

“They (account for) well over 50 percent of the market; 60 percent, 70 percent of the market belongs to TrinidadRealtor.com,” Correia said.

TrinidadRealtor.com’s 2016 Real Estate Award Winners STATISTICAL AWARDS:

• Most Residential Sale Properties: Massy Realty

• Most Residential Rental Properties: Terra Caribbean

• Most Land for Sale Properties: TT Property Search

• Most Commercial Sale Properties: Terra Caribbean

• Most Commercial Rental Properties: Terra Caribbean

• Most Properties on Mapping Guide: Terra Caribbean

• Most Views on TrinidadRealtor.com: Tucker Real Estate

• Most Photos on TrinidadRealtor.com: Tucker Real Estate

• Most Videos on TrinidadRealtor.com: Stuart Spiers Real Estate Services ‘

VOTED’ AWARDS: Best Print Media Company:

• Trinidad Guardian Newspapers

• Valuer of the Year: GA Farrell & Associates

• Law Firm of the Year: J.D. Sellier & Co

• Architect of the Year: Fullerton Diaz Architects

• Interior Designer of the Year: Brian Mac Farlane, MacFarlane’s Design Studios

• Up and Coming Contractor of the Year: Building Beauty Construction

• Bank Branch of the Year: Republic Bank, Port-of-Spain

• Mortgage Agent of the Year: Carlene Joseph-Seerattan,

RBC Royal Bank

• Insurance Firm of the Year: Sagicor

• Most Professionally Attired Male Agent: Colin Skerritt, CK Skerritt Real Estate Services Ltd

• Most Professionally Attired Female Agent: Marjorie Lousaing, Trinidad Properties Management Co

• Most Professional & Punctual Agent: Steve Plimmer, Plimmer Real Estate

• Male Agent of the Year Small Company: Edward Goolsair, Sair Real Estate

• Male Agent of the Year Medium Company: Sajeev Maharaj, Green Acres Estates Ltd

• Male Agent of the Year Large Company: Ian Parkinson, Massy Realty

• Female Agent of the Year Small Company: Debra Teelucksingh, DT Real Estate Services

• Female Agent of the Year Medium Company: Alex Boon, Guillen Realty

• Female Agent of the Year Large Company: Tracy Sheppard, Stuart Spiers Real Estate Services

• Personality of the Year: Lorraine Fitzwilliam, Lorraine Fitzwilliam Real Estate

• Best Showing Agent: Tracy Sheppard, Stuart Spiers Real Estate Services

• Most Likes on Facebook: Massy Realty

• Best Quality Photos: Jennifer Alcazar- Dolsingh, Alcazar Realtors

• Newest Real Estate Agency: South Homes • Broker of the Year: John Knaggs, Trinidad Properties Management Co

• Overall Agent of the Year: Ian Parkinson, Massy Realty

• Lifetime Achievement Award: Sharon Inglefield, Massy Realty

• Small Agency of the Year: Sair Real Estate

• Medium Agency of the Year: Decadent Properties Limited

• Large Agency of the Year: Tucker Real Estate