Real Estate Professionals Can Renew Licenses Early

Real estate salesmen and dealers are being encouraged to renew their professional licenses as stipulated, to avoid a 50 per cent penalty fee.

The license fees for dealers and salesmen remain at $44,000 and $22,000, respectively.

All licenses expire on March 31, the end of the financial year, but Chief Executive Officer of the Real Estate Board (REB)/Commission of Strata Corporations (CSC) Sandra Garrick, said a special arrangement is in place to facilitate payments.

“The board is aware of the challenging financial times we are in. Persons have the option to pay the fees in two parts. They could pay half of the fee in April and the other half in September,” Mrs. Garrick said.

Each half payment will attract the penalty if not paid within the specified month.

Additionally, professionals must ensure that they are in good standing to prevent delays in the renewal process. Practitioners who need training must do so before attempting to renew their licenses.

Salesmen are also being reminded to obtain a letter from their associated dealer to prove their affiliation.

“This is necessary because real estate salesmen cannot function on their own. They are required to work under the supervision of a dealer,” she said.

The CEO is encouraging persons to use the REB online platform for the renewal process. She said this will help to curb the spread of the coronavirus (COVID-19) in Jamaica. Dealers and salesmen can also make payments through online banking.

Mrs. Garrick noted that documents can be emailed to the agency for processing or customers can use the drop box service at the REB office.

More information on license renewal can be found on the agency’s website at www.reb.gov.jm.