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Real estate licensing reminder

Real estate broker and agent licences will expire on November 30, the superintendent of real estate has advised.

A statement said that the receipt of real estate licence applications will start on November 14.

It also advised that brokers are responsible for getting criminal background checks from the Bermuda Police Service on form SF39 for all broker and agent applicants.

These applications should be made directly to the BPS, with copies of the results submitted with each application.

The statement added: “In the event the criminal background check has not been received at the time of submission of your licence application, a condition will be imposed in your licence providing a limited timeframe to permit the subsequent submission of the criminal background check results received from the Bermuda Police Service.”

It also said that the superintendent would publish a statement of principles by November 30 that will explain how the minimum criteria for licensing will be interpreted and applied by the superintendent.

It will also explain inspection of real estate brokers to ensure compliance and general policy on enforcement measures, including factors relevant to a decision to impose a penalty or fine, revocation, prohibition orders and public censure.

The statement added that all brokers must register with the Financial Intelligence Agency and a hard copy of the registration confirmation e-mail is to be submitted with the application package.

And it said that real estate regulations will be sent out to realtors on, or about, November 10.

These contain application forms and sets out the criteria for the application for a licence, form of licence, renewal, written examination, licence display and surrender, personal representation and form of auditor's report.

The statement added: “The licence application forms for brokers and agents have been revised to include fit and proper criteria.”

The form and a how-to guide can be collected from the Office of the Superintendent of Real Estate on the fourth floor of the Government Administration Building, 30 Parliament Street, after November 11.

These forms will also be sent out via e-mail and made available on the government website at www.gov.bm.

The statement added that the real estate licence fees will remain at $635 for brokers and $105 for agents. And it added that the real estate guide and the exam, which is administered by Bermuda College, are being updated to reflect the anti-money laundering/antiterrorist financing obligations of realtors.

The changes are expected to be completed around December 15.

Queries on the application process can be directed to cnfox@gov.bm or glomara@gov.bm

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Published November 06, 2017 at 8:00 am (Updated November 06, 2017 at 6:22 am)

Real estate licensing reminder

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