With recent reductions in mortgage rates, Jamaica’s real estate market is experiencing growth, with many individuals now buying or selling properties. As the market expands, more sellers are opting to engage the services of real estate professionals instead of handling the sale on their own via "For Sale By Owner" (FSBO).
In this active market, it’s crucial for property owners to understand their rights and make informed decisions. The first step is ensuring that the real estate dealer or agent you hire is licensed under the Real Estate (Dealers and Developers) Act. According to Section 10 of the Act, it's an offense for any person to practice real estate business without a valid license from the Real Estate Board. Real estate professionals handle various duties, including selling, buying, leasing, and managing properties, and they must be licensed to perform these tasks on behalf of others.
Once you've verified that your real estate professional is licensed, the next step is deciding w…
