Prior to the 1980s, the Cayman Islands real estate market was characterised by a lack of regulation, inconsistency, and legal safeguards. It was often described as a 'Wild West' environment where individualistic practices prevailed. Recognising the need for a structured and standardised industry, visionary local realtors established the Cayman Islands Real Estate Brokers Association (CIREBA) in 1987.
CIREBA, as a not-for-profit organisation, aimed to regulate the real estate industry for the benefit of all stakeholders — buyers, sellers and realtors alike. They developed a system incorporating elements of the US and Canadian real estate models, blended with local market practices and framed within British Law.
The establishment of CIREBA led to significant advancements, including the introduction of the Caribbean’s first Multiple Listing System (MLS) and a comprehensive educational programme for brokers and agents. This programme includes entry-level certification, continuing education, a stringent code of ethics, and a comprehensive set of rules and regulations with penalties for noncompliance. Consequently, CIREBA has become known for having the highest standards of professional excellence and represents the largest local network of certified realtors in the Cayman Islands. It serves as a quasi-regulatory body that offers buyers and sellers unmatched assurance. CIREBA's long standing reputation and established commitment to ethics, integrity and excellence of practice provides a trusted and reliable foundation for real estate transactions.
CIREBA's leadership and innovation have been instrumental in shaping the modern Cayman real estate industry, which is widely regarded as one of the most robust and professional in the Caribbean. Built over the last 40 years, CIREBA's reputation gives buyers and sellers the peace of mind that they are in secure hands.
Today, CIREBA is a thriving organisation made up of over 35 brokerages and more than 300 certified agents, representing the vast majority of real estate practitioners in the country. These established brokers share property listings through the online MLS, their agents collaborate to deliver the best results for their customers, and together they provide a professional, credible and trusted platform for buying and selling local real estate. The CIREBA website www.cireba.com gives buyers access to view all available properties that are listed on the MLS system and the flexibility to work with their preferred agent. The MLS provides sellers with maximum exposure for their listings and the added benefit of all CIREBA agents to share those listings with their potential buyers. As the industry leader, CIREBA collaborates closely with industry partners, regulators and the Cayman Islands Government on real estate-related matters, ensuring a professional and positive experience for all involved.