Licensed Auctioneer (REB)
The Real Estate Board of Jamaica (REB) auctioneer licence is the mandatory credential for conducting property auctions in Jamaica — covering repossessions, estate sales, and developer launches. Training is delivered by RETI at 29 Dunrobin Avenue, Kingston 10.
What is the REB Auctioneer Licence?
The Licensed Auctioneer (REB) credential is issued by the Real Estate Board of Jamaica under the Real Estate (Dealers and Developers) Act. It is the only legally recognised qualification that permits an individual to conduct property auctions in Jamaica. Without this licence, conducting a property auction is a criminal offence under Jamaican law.
The Real Estate Training Institute (RETI), located at 29 Dunrobin Avenue, Kingston 10, is the primary institution delivering the REB-prescribed pre-licensing auctioneer course. RETI’s programme covers auction law, REB regulations, bidding procedures, and the practical management of property auction events. Upon successful completion, candidates sit the REB licensing examination before being issued their annual licence.
Demand for licensed auctioneers in Jamaica has grown significantly alongside the expansion of the property market, increased commercial bank repossessions (handled by institutions like Scotia and NCB), and the popularity of auction-based developer launches for condominium projects across Kingston and Montego Bay.
Key Facts
Salary & Earnings in Jamaica
REB-licensed auctioneers typically earn on a commission basis — a percentage of the hammer price on each auction. Earnings vary significantly based on volume, property values, and client relationships.
Typical Annual Earnings Range
J$2,000,000 — J$10,000,000+
Commission rates typically range 1%–3% of the hammer price. A single high-value commercial property auction can generate J$500,000+ in commission. Figures are estimates for 2025/2026.
Key Skills
Who Employs Licensed Auctioneers in Jamaica?
How to Obtain the REB Auctioneer Licence
Hold a valid REB Salesperson or Broker licence, OR satisfy REB’s auctioneer-specific eligibility requirements. Contact the REB at 2 Arthur Wint Drive, Kingston 5 to confirm your eligibility pathway.
Register with the Real Estate Training Institute (RETI) at 29 Dunrobin Avenue, Kingston 10. The 2–4 week programme covers REB regulations, auction law, bidding procedures, deposits, and completion requirements.
Sit and pass the REB’s written licensing examination, which tests knowledge of auction law, REB regulations, and property auction best practices.
Submit your application and pay the prescribed annual licence fee to the Real Estate Board. Fees are set by the Ministry and updated periodically.
The REB auctioneer licence must be renewed each year. RETI refresher courses are strongly recommended to stay current with regulatory changes and market developments.
CPD & Renewal Requirements
The REB requires annual licence renewal for all registered auctioneers. While formal CPD hours are not always mandated beyond renewal, practitioners are strongly encouraged to attend RETI refresher courses, REB-hosted seminars, and industry events such as the Jamaica Real Estate Summit. Staying informed about changes to the Real Estate (Dealers and Developers) Act and REB fee schedules is essential for compliance.
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