Foreign and domestic investment is rising in real estate, industry leaders said on Monday, while warning that weak legislative oversight is allowing unlicensed agents to operate, posing risks to consumers and the country’s international reputation, Barbados TODAY can reveal exclusively.

President of the Barbados Estate Agents and Valuers Association (BEAVA), Chris Hassell, said that a growing, more sophisticated market brings greater responsibility, and greater responsibility calls for better oversight.

He said: “The good news is that we can get there through small, sensible improvements to legislation and process, rather than sweeping change. BEAVA, as an association, is committed to leading the conversations that will make it happen, so that Barbados’ real estate sector keeps growing with confidence, fairness, and transparency for all.”