It has been reported that certain individuals and/or entities have engaged in the advertising, buying, selling and renting of real estate without proper licensure and without the authorization of the Real Estate Commission, according to the V.I. Department of Licensing and Consumer Affairs (DLCA).
Virgin Islands law makes it unlawful for individuals or entities to act as real estate brokers or salespersons within the territory without a license from the Department of Licensing and Consumer Affairs (DLCA) and authorization from the Real Estate Commission. Further, no entity can be licensed as a real estate broker unless at least one officer of the entity is licensed and authorized as a real estate broker.
“Consumers are advised to exercise their right to be given information regarding an individual’s or entity’s licensure. Consumers have the right and, in fact, the obligation to insist on proof of licensure. There are persons posing as licensed real estate salespersons and real estate brokers, but who in reality have no authorization to engage in such business in the Virgin Islands,” said Commissioner Devin Carrington.
Additionally, consumers are advised to seek legal assistance when contemplating the purchase or sale of real estate. “The last thing individuals want to hear is that their hard earned money or valuable property has been lost due to unscrupulous individuals masquerading as licensed and authorized real estate salespersons or real estate brokers,” said Carrington.
Consumers are urged to contact the DLCA to report suspected instances of real estate fraud. To make reports or inquiries, call 693-8036 on St. John, 714-3522 on St. Thomas or 713-3522 on St. Croix.
