CIREBA, 30 Years Strong!
CIREBA is celebrating
their 30th anniversary
throughout 2017 and,
as such, we thought we would
take a step back in time and
look at other notable events
from 1987.
their debut at the Pan
American Games in Indiana.
banks, including 42 of the 50
biggest banks in the world.
Law and Labour Law was
passed.
service to Cayman.
twice weekly services to
Atlanta and Tampa.
to the George Town Hospital.
opening of the Hyatt hotel.
opened.
officially opened.
The real estate market was
already showing unmatched
potential, the offshore
financial market was growing
exponentially, and it was in
1987 that a group of already
well-established realtors
decided to start the Cayman
Islands Real Estate Brokers
Association (CIREBA). It
was their desire to unify the
industry and create a higher
standard of practice in the
local real estate business as
they realized that sharing
available property listings
was beneficial for all parties
involved, including their
vendors, as it meant they
could consult with one agent
who had access to co-broke
with other agents. Additionally,
the association established
a set of commission rates
which meant all agents were
operating on the same rate as
other brokerage firms.
The addition of the Multiple
Listing System (MLS) took the
real estate industry to the next
level. This created an actual
inventory of all members’
property listings which was
easily accessible to each
member of the Association.
The MLS is based on the
North American system and
allows agents to locate any
available properties that suit
their purchasers’ requirements
quickly and efficiently.
The Association also created
structured commission
guidelines, implemented
a code of ethics, and
introduced a system of rules
and regulations with which
to manage the relationship
between the public, member
brokers and sales associates
in order to ensure honest
business across the board.
These have now become
industry standard within
CIREBA that also ensures
all due diligence is followed
for the benefit of all parties
involved.
Overall the Association has
established unwavering
stability and a high standard
of real estate practice which
is backed by member training
courses for new members and
on-going training for current
members of CIREBA.
Jeanette Totten, current
elected President of CIREBA
says: “As we proudly
look back at 30 years of
accomplishments, hard work
and success within CIREBA
and the Cayman Islands
real estate industry, I would
like to congratulate each of
the individuals who had the
foresight to start CIREBA.
Today we can proudly say
that, thanks to hard work,
dedication and a passion
for the real estate industry,
CIREBA has strong, ethical,
well-trained and thriving
members of which we are
so very proud. I, for one, am
honoured to be President of
CIREBA.”
JEANETTE TOTTEN,
PRESIDENT OF
CIREBA BOARD 2017
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