Bermuda has a small but highly regulated property market, with a select group of licensed estate agents handling the majority of sales and rentals across the island. All agents must hold a government licence under the Real Estate Brokers’ Licensing Act 2017, and the standard commission rate is 5% of the sale price, paid by the seller. Foreign buyers face strict rules and additional costs, making professional agent guidance especially valuable.
| Item | Details |
|---|---|
| Standard commission rate | 5% of sale price, paid by the seller (as of 2025) |
| Agent licence fee | $105 per year; broker licence $635 per year (as of 2017, check gov.bm for current figures) |
| Governing legislation | Real Estate Brokers’ Licensing Act 2017 |
| Non-Bermudian licence to acquire property | 12.5% of purchase price for houses; 8% for condominiums |
| Licence application fee | Approximately $1,800 (as of 2025, check official sources) |
| Typical purchase timeline | Around 2–3 months on average |
Who are the popular estate agents in Bermuda?
Bermuda’s property market is served by a relatively small number of established agencies, many of which have been operating on the island for decades. Given the tightly regulated and high-value nature of the market, choosing an experienced, well-connected agent is particularly important — especially for those navigating the process as a foreign buyer.
Coldwell Banker Bermuda Realty
Established in 1953, Coldwell Banker Bermuda Realty is widely regarded as the largest real estate firm on the island, with a team of experienced specialists dedicated to helping clients achieve their real estate goals. The agency is a full-service company connected to the Coldwell Banker Global Network, covering residential luxury markets, commercial real estate, and property management services.
Rego Sotheby’s International Realty
Rego Realtor was one of the oldest and most reputed real estate agencies in Bermuda before merging with Sotheby’s to create Rego Sotheby’s International Realty. The company specialises in residential sales and rentals, commercial sales and leasing, and other professional services including valuations, property management, financing, and auctioning.
Realestate.bm (Chestertons Bermuda)
Operating as part of the Chestertons global network — a trusted name in real estate since 1805 and established in London — the agency provides expert guidance and access to premier properties around the world from its Bermuda base.
Joy Lusher Real Estate
Joy Lusher Real Estate offers personalised sales and rental services in Bermuda, specialising in luxury homes, villas, and beachfront properties. The agency has a multi-generational history on the island and a strong reputation for representing both local and international clients.
JBM Realty & Associates
JBM Realty is a boutique company servicing all real estate needs in Bermuda, with agents who have years of experience specialising in property sales, rentals, property management, and vacation rentals.
Cranfields Property Bermuda Ltd.
Cranfields is another well-established agency known for its in-depth knowledge of the local sales process. The agency offers guidance on pricing, legal costs, and the entire conveyancing process, and cites over 25 years of local expertise.
Island Realty Bermuda
Island Realty is a locally based agency with detailed guidance for both Bermudian and non-Bermudian buyers, covering the full purchase process including licence applications, stamp duty, and sale and purchase agreements.
The Property Group
The Property Group is a Bermuda-based agency offering residential sales and rentals with clear guidance on costs, buyer agency arrangements, and the regulatory framework for foreign buyers.
What qualifications and licences do estate agents need in Bermuda?
The Real Estate Brokers’ Licensing Act 2017 came into operation on 2 October 2017, replacing the Real Estate Agents’ Licensing Act 1976. The Act modernises the operation and supervision of the real estate industry by the Superintendent of Real Estate, in accordance with international standards.
No person may act — or directly or indirectly hold themselves out — as a broker or an agent in Bermuda without holding a valid licence under the Act. This is comparable to licensing frameworks in countries such as France or Australia, where all practising agents must be government-registered before they can legally represent buyers or sellers.
A broker must maintain an office in Bermuda satisfactory to the Superintendent of Real Estate, and must satisfy the minimum criteria set out in the Act and be qualified to be licensed at the time of application. An agent, in turn, may only be licensed where they are operating as the agent of a licensed broker.
Key requirements for obtaining a licence include:
- A real estate examination pass of 70% or above (for new applicants), administered by Bermuda College.
- A criminal background check from the Bermuda Police Service, with copies submitted to the Superintendent with each broker and agent application.
- The applicant must be Bermudian, or hold permission from the Minister responsible for Immigration to work in Bermuda as a real estate broker or agent.
- All brokers must register with the Financial Intelligence Agency (FIA).
- GoAML registration email confirmation issued by the Financial Intelligence Agency (for brokers).
Similar to law firms and financial institutions in many jurisdictions, Bermuda real estate brokers and agents are licensed and regulated under the Bermuda Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. Prior to any sale and purchase transaction, real estate agencies are required to obtain detailed information on the identity, background, and place of residence of both parties.
The receipt of real estate licence applications commences on 1 July each year. As of 2017, licence fees were set at $635 for brokers and $105 for agents. Check the Government of Bermuda’s official licensing page for current figures, as these are subject to change.
What are the estate agent fees in Bermuda?
The standard sales commission in Bermuda is 5%, established by the Real Estate Division of the Bermuda Chamber of Commerce. This is normally paid by the vendor, but the purchaser sometimes elects to assume this cost as part of the negotiating process.
If a real estate agent works with a seller for weeks or months without a resulting transaction, they are not paid for their time — agents earn a commission based on the sales price of the home and receive that commission only after the transaction closes. In Bermuda, the total commission is generally paid by the seller at the settlement table, where the fee is subtracted from the proceeds of the home sale.
As a practical example: on a $1,000,000 sale, the commission would be $50,000. This is consistent with — though structured differently from — many other regulated markets. In Australia, for instance, commissions typically range from 1.6% to 2.5% and are negotiable, while Bermuda’s rate is standardised across the industry.
Beyond the agent’s commission, buyers and sellers should be aware of the following additional costs:
| Cost | Who Pays | Estimated Amount |
|---|---|---|
| Agent commission | Seller (usually) | 5% of sale price |
| Stamp duty | Shared equally (buyer and seller), or 100% buyer for hotel residences | Sliding scale based on purchase price |
| Legal/conveyancing fees | Shared equally | Approx. 1%–1.5% of sale price in total |
| Non-Bermudian licence to acquire property | Buyer (non-Bermudians only) | 12.5% of purchase price (house); 8% (condominium) |
| Licence application fee | Buyer (non-Bermudians only) | Approx. $1,800 |
| Deposit on exchange | Buyer | 10% of purchase price |
Costs associated with the conveyance of a property are usually shared equally between the vendor and the purchaser. These costs include legal fees for the preparation of the conveyance and stamp duty payable on the deed of transfer, and the purchaser is also liable to their own attorney for costs incurred for legal advice.
A deposit of 10% of the purchase price is payable upon signing of sale and purchase agreements. This deposit is held in escrow by the agent or attorney until closing, with interest accrued for the purchaser’s benefit, and the balance payable when the sale completes.
The Licence to Acquire Property is required for non-Bermudians wishing to buy a home in Bermuda. The Government charges a fee of 12.5% of the price of a house, or 8% if buying a condominium, when the licence is granted. The licence fee for a property within a hotel development is 6.5%. Always verify the latest figures at gov.bm or through your Bermuda-based lawyer.
As a rule of thumb: on a ‘gross’ price, you can generously estimate your own costs by adding an additional 2.5% (plus the licence fee, if you are not Bermudian); on a ‘net’ price, 10% will comfortably overestimate added costs (plus the licence fee, if you are not Bermudian).
Where else can you find property for sale in Bermuda?
In addition to engaging directly with a licensed estate agent, there are several other useful ways to research and discover property for sale in Bermuda. Given how small and competitive the market is, combining multiple sources gives you the best chance of spotting the right property early.
Property Websites and Portals
- PropertySkipper Bermuda — PropertySkipper describes itself as the number one property portal site in Bermuda, where you can search for properties for sale or rent and find your dream home. Once a property is listed with one of their agents, it reaches an audience of over 50,000 house hunters every month.
- Realestate.bm — Operated by Chestertons Bermuda, this site provides listings for sales and rentals across the island, along with market guidance.
- Coldwell Banker Bermuda Realty — The agency’s own site lists current properties for sale and rent across all price points and parishes.
- Rego Sotheby’s International Realty — The Rego Sotheby’s website features luxury and high-value residential listings alongside market commentary.
- Island Realty Bermuda — Offers property listings for sale alongside detailed buyer guidance for non-Bermudians.
Classifieds and Community Websites
- eMoo.bm — eMoo is a popular community website in Bermuda that deals with various areas including rentals and sales, and has been in operation for many years. It functions similarly to classifieds sites such as Gumtree or Craigslist and can occasionally feature private listings alongside agent-managed ones.
Newspapers and Magazines
- The Royal Gazette — Bermuda’s main daily newspaper carries real estate classified advertisements and property news. It is a reliable source for both rental and sales listings and is widely read across the island.
- Bermuda Sun / Bernews — Online news platforms that occasionally carry property-related editorial content and local market commentary.
Expat Resources and Word of Mouth
- Expat Focus — Bermuda — Our own Bermuda section provides guides, forum discussions, and community insights on property, relocation, and daily life on the island.
- LinkedIn and professional networks — Given the significant international business community in Bermuda (particularly in insurance and reinsurance), word of mouth through professional networks is a widely used informal channel for finding properties before they appear publicly.
- Corporate relocation agents — Many companies relocating staff to Bermuda engage specialist relocation consultants who maintain off-market contacts and can identify rental and sales opportunities not yet formally listed.
Because buying a house in Bermuda is one of the most regulated property markets in the world, it is strongly advised to use these online and community resources as a starting point — but to always engage a licensed estate agent and a qualified Bermuda lawyer before progressing any purchase.
Is the use of a buyer’s agent common in Bermuda?
The concept of a dedicated buyer’s agent — an agent whose sole duty is to represent the purchaser’s interests rather than the seller’s — exists in Bermuda but is less formalised than in markets such as the United States or Australia, where buyer’s agency agreements are widespread and legally structured.
If a buyer has chosen one agent who satisfies their needs, that agent can work with all of the other agencies on the island to show every available property that suits the buyer’s requirements. Unless a specific ‘buyer agency’ contract has been arranged, however, the buyer should assume that their agent is working, directly or indirectly, for the owner whose property is being shown.
Agents are, however, obligated not to misrepresent the facts regarding any property, insofar as they know them. This provides a baseline level of protection for buyers even in a traditional seller-agent arrangement.
It is possible to formally enter into a buyer’s agency contract with a Bermuda agent, which explicitly aligns the agent’s duties with the buyer’s interests. In practice, the market is small enough that a single experienced agent will often have visibility of properties across all agencies — an informed agent will know the market, arrange viewings of suitable properties, and may be one of the first to hear of new properties coming onto the market, giving the buyer first opportunity to view.
As for cost, buyer’s agents in Bermuda are typically compensated through the same 5% commission structure — the seller pays the commission, which is then shared between the listing agent and the agent representing the buyer. Generally, the seller pays the agent fee. This means that engaging a buyer’s agent usually comes at no direct extra cost to the purchaser, though this should be confirmed in writing at the outset.
In terms of licensing, there is no separate or additional qualification specifically for buyer’s agents in Bermuda. Any practising buyer’s agent must hold the same licence required of all agents under the Real Estate Brokers’ Licensing Act 2017. Licensed real estate agents play a crucial role in the property purchasing process in Bermuda and are responsible for assisting non-Bermudians in obtaining the necessary licence, finding suitable properties, and negotiating on their behalf.
Are there organisations for foreign property buyers in Bermuda?
Bermuda does not have a dedicated equivalent to bodies such as the Association of Foreign Investors in Real Estate (AFIRE) that are found in some larger markets. However, several organisations and government bodies play an important role in supporting and regulating foreign property purchases on the island.
Government of Bermuda — Department of Immigration
The acquisition of property by non-Bermudians requires a “Licence to Acquire Property,” which is applied for through the local attorney handling the sale and purchase agreement for the buyer. The Department of Immigration administers this licence and is the primary government authority overseeing foreign property ownership.
- Website: www.gov.bm/department-immigration
- Address: Department of Immigration, 30 Parliament Street, Hamilton HM 12, Bermuda
- Phone: +1 (441) 295-5151
Office of the Superintendent of Real Estate
The Superintendent publishes a Statement of Principles explaining how the minimum criteria for licensing will be interpreted and applied, including pro-active inspection of real estate brokers to ensure compliance, and general policy on enforcement measures. The office handles all licence applications and regulatory matters relating to estate agents and brokers.
- Website: www.gov.bm/real-estate-licensing
- Address: 4th Floor, Government Administration Building, 30 Parliament Street, Hamilton, Bermuda
- Email: [email protected] or [email protected]
Bermuda Chamber of Commerce — Real Estate Division
The standard sales commission in Bermuda is 5%, and this is established by the Real Estate Division of the Bermuda Chamber of Commerce. The Chamber’s Real Estate Division provides industry-level guidance and sets recommended standards for agents and brokers across the island.
- Website: www.bermudachamber.bm
- Address: Bermuda Chamber of Commerce, 1 Point Pleasant Road, Hamilton HM 11, Bermuda
- Phone: +1 (441) 295-4201
- Email: [email protected]
Conyers (Law Firm — Real Property Department)
Conyers is one of Bermuda’s leading law firms and publishes detailed guidance on acquiring property in Bermuda as a non-national. Their Real Property Department advises both individual and corporate buyers on all aspects of the purchase process, including licence applications, stamp duty, and ownership structures.
- Website: www.conyers.com/bermuda
- Address: Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda
- Phone: +1 (441) 295-1422
Bermuda Bar Association
All property transactions in Bermuda require the involvement of a locally qualified lawyer, and the Bermuda Bar Association is the regulatory body for the legal profession. Its website provides a directory of licensed lawyers, including those specialising in real estate and conveyancing.
- Website: www.bermudabar.bm
- Address: Bermuda Bar Association, Cedar House, 41 Cedar Avenue, Hamilton HM 12, Bermuda
- Phone: +1 (441) 295-5760
Frequently asked questions
Do I need a licence to buy property in Bermuda as a foreign national?
Yes. The acquisition of property by non-Bermudians requires a “Licence to Acquire Property,” which is applied for through the local attorney handling the sale and purchase agreement for the buyer. Any licence fee due, which is always paid by the purchaser, must be received by the government before the licence is issued, and the licence is required before the real estate transaction can complete.
What types of property can non-Bermudians buy?
Non-Bermudians may purchase freehold houses with a minimum qualifying Annual Rental Value (ARV) of $126,000, which generally equates to a purchase price of $3 million and above, though this varies by property. Non-Bermudians may also purchase all residences which are part of tourism developments or hotels, such as Azura Bermuda and Nautilus.
How long does a property purchase typically take in Bermuda?
The timeline for buying a property in Bermuda can vary depending on the specific circumstances, but on average it takes around 2–3 months. This includes the time for property search, negotiation, legal procedures, and closing, and it is important to work closely with your real estate agent and lawyer throughout.
Who pays the estate agent’s commission in Bermuda?
Commissions in Bermuda are five per cent of the final sales price, recommended by the Chamber of Commerce and standard across the board. The exact percentage is always spelled out in the listing agent’s contract with the seller, and the total commission is generally paid by the seller at the settlement table, where the fee is subtracted from the proceeds of the sale.
Can a single agent show me properties listed by multiple agencies?
If you have chosen one agent who satisfies your needs and with whom you are happy, they can work with all of the other agencies on the island to show you every property available that suits your requirements. This cooperative approach is standard practice in Bermuda’s small market.
Are there any taxes on property in Bermuda for foreign owners?
There is no income tax, capital gains tax, estate duty, or inheritance tax payable by persons ordinarily resident in Bermuda. Land Tax is payable by property owners and is calculated as a percentage of the Annual Rental Value (ARV). Stamp duty is also payable on the conveyance of property, calculated on a sliding scale based on purchase price.
Is a deposit required when making an offer on a property?
A deposit of 10% of the purchase price is payable upon signing of the sale and purchase agreements, and this deposit is held in escrow by the agent or attorney until closing.
Do I need a lawyer as well as an estate agent when buying in Bermuda?
Yes. In Bermuda, a qualified attorney assists buyers in navigating the legal aspects of property purchase, which may include document review, contract drafting, and ensuring compliance with the law. Each party engages their own attorney to manage the conveyance process. Your agent and lawyer work in parallel, and both are essential for a smooth, legally compliant transaction.