EB Command Line Interface: Error: Command returned non-zero status: status=256

When installing the EB Command Line Interface on a Mac I came across this error several times:
Running cmd: ln -s ~/.ebvenv/bin/eb /usr/local/bin/eb
ln: /usr/local/bin/eb: Permission denied
Error setting up link to /usr/local/bin. Add "alias eb=~/.ebvenv/bin/eb" to your profile.
Error: Command returned non-zero status: status=256

I am not sure what causes the error because all I did was executing:

curl -s https://s3.amazonaws.com/elasticbeanstalk-cli-resources/install-ebcli.py | python

The error also states the solution: Simply open ~/.bash_profile and add the following line:

alias eb=~/.ebvenv/bin/eb