Real Estate history was made in the Turks and Caicos Islands on December 30, 1999 with the incorporation of the Turks and Caicos Real Estate Association (TCREA). This "coming together" of independent realtors to create a Multiple Listing System (MLS) such as that used in North America signified a united commitment to improving service to buyers and sellers in a fast growing industry.

The Association's mission statement is to "provide buyers and sellers of Real Estate with the highest possible level of service by consolidating listing information into a database accessible by its members and their clients, by implementing standard forms, fees and purchase procedure and by ensuring standards of competence with the industry."

This means that potential purchasers now have at their fingertips a comprehensive list of properties available for sale in Turks and Caicos Islands. A buyer can view and purchase any property in the MLS system through any TCREA agent, not just the listing broker or agent. Sellers are assured that they can do business with the realtor of their choice and that their property will get maximum exposure.

Under the MLS system, sellers have all 14 TCREA firms (and well over 50 real estate agents) working together to sell their property.

Commission rates are set by the association - currently 6% of the sales price on developed properties and 10% on undeveloped land - and are generally paid by the seller. Prices quoted in this web site include this commission in the total price the purchase is being asked to pay. Commission is split 50-50 between the listing broker and the selling broker.
The Associations's new web site, www.tcrea.com serves as an excellent resource for potential investors.

Peter Crawford Smith is a member of this association and has been elected to help with the ongoing training of professionals.

The formation of this Association reinforces the industry's commitment to the continued growth and development of what has become one of the most profitable and secure property market in the world.