Benefits of Being
an AREA Member
Education
AREA’s prime focus as the national professional Association is to educate, and all AREA members are required to take the UWI-Roytec “Principles of Real Estate Sales” course within one year of joining. This is a Sales Associates’ course covering all aspects of the real estate industry at a basic level, and in January 2013 a more advanced 2-year Brokers’ Diploma course was introduced, and work is being done on the development of a shorter Brokers’ Certificate. These courses were developed by AREA in collaboration with UWI-Roytec and promote excellence in the industry through learning. With this training, agents are better equipped to handle all aspects of a transaction in a professional manner.
Continuing Professional Development
AREA’S Education & Training committee organises monthly member CPD workshops and an annual Best Practices seminar which the public can also attend. Credits from these CPD opportunities go towards qualifying for renewal of annual membership.
Listing Contracts
Agents are encouraged to list properties on an exclusive basis and listing contract templates are provided to all members. These contracts were prepared with the help of AREA’s Attorneys and safeguard the relationship between Agent and Seller and the right to commission on completion of a transaction.
Standardised Forms and Contracts
AREA and its Attorneys have developed a full range of standard form templates to guide members. These include listing contracts, offer letters, Sale Agreements, and more.
Networking & Co-Broking
Membership affords access to a network of Agents with whom listings are shared on the AREA Registered Members What’s App group chat. This gives members the opportunity to offer their customers a choice of listings and it gives the customer a wider choice of properties while working with just one Agent. For new Agents with a small database of listings, this is a significant benefit.
Standards Of Practice
AREA has developed a handbook of Standards of Practice, which outlines the real estate Agent’s duties to clients, customers, the public and to other Agents. Members also have access to the Board of Directors and Secretariat staff for the advice on any professional problem.
Code of Ethics
AREA is strong on the need for high ethical standards in dealings with fellow Agents, Seller and Buyers, and the general public. Its Code is of international standard.
Disciplinary & Ethics Committee
To enforce the Code of Ethics, members and the public have full recourse to AREA on any problem they encounter with a member. A formal written complaint can be made to the Board of Directors, and if necessary, it is referred to the Disciplinary & Ethics Committee for further investigation and arbitration. Regrettably, AREA can only enforce the Code amongst its membership.
Legislation to Regulate the Sector
AREA has championed self-regulation of the industry for decades and in 2020 the Real Estates Agents Act was passed by Parliament and awaits proclamation. Certain aspects of the Act call for amendment to harmonise it with current real estate practice, and AREA continues to work with the office of the Attorney General to promote these much needed changes.
Standing Committees
The practical work of the Association is carried out by these committees and their volunteer members.
- Membership Rules & Admissions
- Education & Training
- Taxation & Legislation
- Public Relations
- Multiple Listing Service
- Disciplinary & Ethics
These Committees meet on a routine basis seeking to improve the professionalism and efficiency of AREA’s members, to inform the public in real estate matters and arbitrate where necessary between the public and Member Agents.
National Association Of Realtors (NAR)
In in 2020 AREA signed a bi- bilateral co-operation agreement which allows individual members of AREA to become Realtors in their own right. This collaboration and liaison with NAR offers all members the chance to network internationally with other NAR Agents and to participate in conferences and online educational courses.
FIUTT Legislation And Compliance
AREA has developed an approved Compliance Manual template for use by Members and provides annual training as mandated by law. The Ministry of National Security Strategic Service Agency and the Caribbean Financial Action Task Force (CFATF) recognize AREA as the governing body for the real estate industry and have included AREA’s Board in several workshops.
Advocacy
AREA was established in 1990 and Incorporated by Act 10 of 2012 and is recognized nationally as the voice of the industry by bodies such as the T&T Chamber of Industry and Commerce, TTGPA, TTCSI, financial institutions, Attorneys-at-Law, Government Ministries and other real estate Stakeholders.
Practical Benefits Of Membership
These benefits include cell phone plans, health plan, discounts with service providers, reduced cost of educational courses, free of charge monthly CPD workshops and many others.
