Path not being honored?
In order to amend your PATH so that /usr/local/bin
is ahead of /usr/bin do the following:


execute . ~/.bash_profile
execute PATH="/usr/local/bin:$PATH" in the current shell
restart Terminal


You may also want to amend /etc/paths so that /usr/local/bin is listed before /usr/bin. You'll need to sudo your editor in order to do that.

sudo open -t /etc/paths


Bear in mind that if you edit /etc/paths there is a risk that non-terminal applications may pick up your locally build version. Just FYI.

A little more information on paths.


/bin (and /sbin) were intended for programs that needed to be on a small / partition before the larger /usr, etc. partitions were mounted. These days, it mostly serves as a standard location for key programs like /bin/sh, although the original intent may still be relevant for e.g. installations on small embedded devices.
/sbin, as distinct from /bin, is for system management programs (not normally used by ordinary users) needed before /usr is mounted.
/usr/bin is for distribution-managed normal user programs.
There is a /usr/sbin with the same relationship to /usr/bin as /sbin has to /bin.
/usr/local/bin is for normal user programs not managed by the distribution package manager, e.g. locally compiled packages. You should not install them into /usr/bin because future distribution upgrades may modify or delete them without warning.
/usr/local/sbin, as you can probably guess at this point, is to /usr/local/bin as /usr/sbin to /usr/bin.


This source helps explain the filesystem hierarchy standard on a deeper level.

And you might find this article on the use and abuse of /usr/local/bin interesting as well.