How to become a Bahamas Real Estate Agent?

As real estate is becoming a highly sought after career path for ambitious professionals many Bahamians are seeking a path to one of the most lucrative professions in the country. The question that remains though is how does one become a bahamas real estate agent on the path to making what seems to be millions of dollars in potential real estate commissions?

The body responsible for real estate in the Bahamas is aptly called the Bahamas Real Estate Association or BREA the body that governs the practice of real estate in the country. The practice of real estate in short is considered engaging in activities like appraising, auctioning, selling, buying, leasing, or renting land on behalf of others for compensation​. It may also include managing land, procuring buyers, sellers, landlords, or tenants, and assisting in transactions leading to land sales, leases, or rentals.

Apprenticeship

BREA's path to real estate licensing currently requires that the prospective agent goes through an six month apprenticeship period, which can be split in half with 3 months before the course and three months after sitting the entry licensing exam.

This apprenticeship requirement is met by gaining employment with a real estate agency willing to teach you the ropes of real estate, this requirement might be the most challenging as only a few agencies are willing to hire apprentice.

Cost

The cost to sit the entry licensing exam is $2,420.00 which includes your materials and seat in the entry licensing course or ELC.

Exam

The Bahamas real estate entry licensing course is held over a week with the exam on the sixth day. The exam is 100 questions and requires a 80% passing grade and participants usually know within a few days whether they have passed or not.

Licensing

If you were successful in gaining a 80% passing grade, the next step would be pay for your real estate license and membership. As of 2024 most agencies will require you to also pay for your membership and access to the Bahamas multiple listing service (MLS). The fee for general License and membership is $500.00 and the MLS annual fee is $500.00 so you will need $1,000.00 for your next step.

Conclusion

License in hand, agency support, millions in commission waiting, you are now ready to succeed at Bahamas real estate. 1 OAK Bahamas the agency I joined is looking for qualified professionals who are interested in becoming real estate agents, if you are interested please send an email to human resources at admin@1oakbahamas.com