The president of the Bahamas Real Estate Association has rebuked unlicensed foreign real estate agents, accusing them of causing damage to the domestic real estate industry.
Speaking at a recent Rotary Club luncheon, BREA president Pat Strachan remarked that he wished to "eliminate the unfair competition we are faced with from unlicensed foreign agents".
According to reports in the regional media, Mr Strachan observed that much of the problem stems from real estate agents originating in the United States, particularly Florida, "who are allowed to enter the Bahamas, get in cahoots with Bahamian lawyers to solicit listings and then sell Bahamian real estate."
Labelling such activity as “illegal, unethical and wrong” he implored the Attorney General’s Office and the Immigration Department to act and prosecute those involved. He also called on the Bar Association to reprimand Bahamian lawyers found to be participating in such ventures.
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