August 24, 2016
How to Choose the Right Cayman Islands Real Estate Broker
Cayman Islands offers some of the most exclusive real estate in the Caribbean. Discerning buyers know that when it is time to invest in Caribbean luxury real estate, Cayman Islands should be at the top of the list of island destinations to consider. This British Overseas Territory features excellent infrastructure, a good quality of life, a low crime rate and a wide selection of real estate choices.
Prospective buyers sometimes find navigating the Cayman luxury property market a challenge, simply because there are so many wonderful choices available! Beachfront condos, private villas, development lands for custom built residences, island hideaways…the choices abound. That’s why it is important to work with a qualified and experienced Cayman Island realtors.
Here are some tips on how to choose the right realtor to work with.
- Select a realtor with experience in your market segment. If you are looking for a Cayman luxury property, it would not make sense to work with a realtor who mostly sells mid-market condos, or starter homes. Ask prospective realtors for a list of the properties they have sold in the last year, to get a true understanding of their primary practice area.
- Work with a realtor who is a member of CIREBA, the Cayman Islands Real Estate Board. Cayman Islands realtors who belong to CIREBA must adhere to strict association guidelines. They also have access to the MLS, so that if you desire to sell a property, they can include your property in the system’s database, thereby reaching a broader audience.
- Look for a realtor who has lived in Cayman Islands for several years. While there are undoubtedly some very good realtors who are new to the island, a long time resident will simply have better connections and more market insight and experience to share with you.
- Find a realtor who is busy - but not too busy. That can sometimes be the greatest challenge. The best realtor is someone who is always networking and showing property, but not over-committed to the point that they don’t have time for you when you need them, or they rush viewings or even worse, take days to reply to your emails or phone calls.
- Work with a realtor who takes time to understand your goals and vision, and who is willing to help you achieve it. For instance, you may initially request to only view beachfront condos. But perhaps after listening carefully to the features and amenities you most want in your Cayman residential property, the realtor determines that you should perhaps also considering building your dream home. A good realtor would then also introduce you to some Cayman land for sale. Essentially, look for a realtor who listens as much, if not more, than they talk.
- Ask for references. The realtor should be able to provide you with at least three good references from former clients they have helped find a Cayman residential property.
- Establish a rapport. Buying a property is one of the most stressful and significant purchases we make in life. You need someone you can trust, who has your best interests at heart and who truly wants to help you achieve your goal of finding the best Cayman luxury property for your budget and lifestyle.
Paul Young of Prime Locations Cayman is a broker with extensive experience in the Cayman luxury real estate market. Paul has lived in Cayman Islands for over 15 years, and has a wealth of market knowledge. Paul takes great pride in providing a boutique real estate practice experience to every client. To learn about Paul and Prime Locations Cayman, call 345.936.8888 or visit www.primelocationscayman.com.