ASSOCIATION OF REAL ESTATE AGENTS (AREA)

INTRODUCTION

 

The Association of Real Estate Agents was established in 1990 to elevate the real estate industry from a position in which each agency operated in complete isolation from one another to a more uniform, vibrant, and reliable industry capable of reflecting a more professional image.  AREA raised the bar of professionalism in the real estate sector, thus benefiting both the industry and the public throughout Trinidad & Tobago.

 

Prior to the formation of the Association, there were no documented guidelines for the conduct of real estate in Trinidad & Tobago.  One of the biggest accomplishments of the Association was to establish a comprehensive set of Rules & Regulations and Standards of Practice for the conduct of real estate between brokers, and between brokers and vendors/purchasers, thereby assuring a higher level of service to the public.

 

 

AREA’s objectives are:

  1. To promote the highest level of professionalism and integrity in real estate by insisting on principles of fair dealing.

  2. To educate and guide the membership in improving its professionalism through continuing educational programmes and annual credits as a condition of membership.

  3. To increase public awareness and develop confidence in the real estate profession.

  4. To provide quality service to both sellers and buyers of real estate by providing them with access to Brokers who are knowledgeable and have integrity

  5. To provide access to the latest information and technology available to the sector.

  6. To partner with Government and private sector organisations to assist in the development of Trinidad & Tobago.

  7. To introduce in 2016 a Real Estate Bill that will ensure the registration with AREA and annual licensing of all real estate professionals and provide a uniform method and ethical standard for the conduct of real estate business. 

 

Legislation for the Incorporation of the Association by Act of Parliament was put before Parliament and approved in 2012.  The Association is now seeking to have their draft legislation tabled in Parliament. This legislation is in keeping with the move within CARICOM to have all professional bodies regulated.

 

In line with its commitment to education, AREA developed The Principles of Real Estate Sales course which has been available through UWI/ROYTEC since 1998 and in 2013 it added a Broker’s Course that takes its educational offerings to a higher level of real estate knowledge and expertise.

  

 

AREA’s accomplishments to date include :

  • Standardisation of Listing Agreements and Forms

  • Multiple Listing Database

  • Constitution and By-Laws of the Association

  • Rules & Regulations

  • Code of Ethics & Standards of Practice

  • Development of an AREA website 

  • Real Estate Training: “Principles of Real Estate Sales” course (pilot course - September 1994)

  • Introduction to Real Estate - Level 1 (pilot course - September 2009)

  • Broker’s Course (first offered 2013)

  • Ongoing training of members via monthly workshops

  • Annual Seminar for members as well as the wider public with interests in real estate

  • Development of Anti-Money Laundering Compliance Manual for membership

  • Completion of the draft Real Estate Bill for self-regulation of the industry.

 

THE BOARD OF AREA  :  Like many associations, the Directors of AREA are selected by the membership for voluntary service to their industry.  All are full-time employed real estate agents or allied professionals, and all service provided in addition to the monthly board meetings is also given freely.  Over the past several years, all Directors have been involved in the effort to draft legislation to regulate the industry, as well as other time-consuming board business such as FIU compliance and on-going educational courses, representation on a Rent Act review board, representing AREA at formal public events and so on.  There are, however, certain individuals who from time to time have given more to the Association than could be expected.  The following are some of these individuals who in more recent years have contributed above and beyond to the work of AREA.   

© 2016 by TTIFMA

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