The Superintendant of Real Estate is pleased to advise that the Minister responsible for the Registrar of Companies makes the following regulations under the Real Estate Brokers’ Licensing Regulations 2017 (Regulations):
- Prescribing forms for use under the Real Estate Brokers’ Licensing Act 2017 (Act) and Regulations made under the Act.
- Prescribing the practice and procedure for an investigation under section 21 of the Act.
- Providing for the examination of applicants for licenses; and
- Generally for the better carrying out of the provision of the Act.
The Superintendent also provides the following update for your information:
Criminal Background Checks
Brokers will be provided with an extension until 31 December 2017 to provide the Superintendent with criminal background check results from the Bermuda Police Service if they are unavailable at the time of their license application submission.
It is the responsibility of Brokers to obtain criminal background checks from the Bermuda Police Service on form SF39 for all broker and agent applicants. Please note that applications for criminal background checks are to be made directly to the Bermuda Police Service. Copies of the criminal background check results are to be submitted to the Superintendent with each Broker and Agent application.
Real Estate License Application Forms
The receipt of real estate license applications will commence on 14 November 2017. The license application forms for brokers and agents and the how to apply for a license guide are now available for collection from the Office of the Superintendent of Real Estate located on the 4th floor, of the Government Administration Building on 30 Parliament Street, in Hamilton. These forms will also be distributed via email and made available on the government website at www.gov.bm as of today, Tuesday, November 14th.
All brokers must register with the Financial Intelligence Agency (FIA). The FIA is the body to which reports of suspicious activity must be made. Brokers who register with the FIA will receive confirmation of registration. A hard copy of that confirmation email is to be submitted with the application package.
Real Estate License Fees
The real estate license fees will remain at $635 for brokers and $105 for agents.