Realty Agents Guide https://www.mexperience.com Experience More of Mexico Sun, 04 Aug 2024 19:48:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 124046882 Guide to Working with Realty Agents in Mexico https://www.mexperience.com/how-to-work-with-realty-agents-in-mexico/ Sun, 04 Aug 2024 19:48:43 +0000 https://www.mexperience.com/?p=46251---701f17bb-fc05-4efa-b4dc-ce53f0a714ee Our detailed guides describe how to scout for, find, and work with a realty agent in Mexico, whether you're renting, buying or selling a home

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Comprehensive guides to working with a realty agent in Mexico, whether you are buying, selling or renting a property.

How to find and work with a realty agent in Mexico

Finding and working with a well-established realty agent in the locality you intend to move to in Mexico can bridge important gaps in most people’s capabilities, in terms of providing local knowledge and logistics, as well as helping to save valuable time.

Detailed insights to help you work with agents

Our guides help you to learn about how real estate agencies and agents work in Mexico and how to work with an agent to help you buy, sell or rent a home in Mexico.

The Guide to Realty Agents in Mexico is fully cross-referenced with articles on Mexperience and provides you with a definitive guide to finding and working with realty professionals.

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The Tell-Tale Signs of a Good Realty Agent in Mexico https://www.mexperience.com/tell-tale-signs-of-a-good-realty-agent/ https://www.mexperience.com/tell-tale-signs-of-a-good-realty-agent/#comments Wed, 24 Jul 2024 21:30:35 +0000 https://www.mexperience.com/?p=2573---dab5d94d-e012-4c19-af8d-9888cae9f511 Finding and working with a reliable local real estate agent can pay long-term dividends when it comes to investing in Mexican property

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Finding and working with a reliable local real estate agent can pay long-term dividends when it comes to renting, buying, and selling property in Mexico.

Choosing your location and locale

When you’re scouting for a home in Mexico, you’ll need to undertake some research to learn about the location and the locale, the market, and the procedures and requirements for property purchase here.

Mexperience offers detailed information and guides that help you to discover places to live in Mexico, and help you assess how locations may fit with your lifestyle plans and intentions.

Also download our free eBook about Living & Retirement in Mexico, that contains an entire chapter on choosing a place to live.

Working with a local realty agent

Once you choose a location to live in, getting to know the area intimately is a critical aspect of your planning work.  If you have years to plan, then perhaps a few visits —including some extended stays locally— will help.  We have always suggested to our readers that renting for a time in areas you don’t know is more prudent than jumping-in with a property purchase right away.

When you finally decide to move to a specific location in Mexico, consider spending some time looking for a good, well-established, local realty agent in the area.

Realty agents don’t have to be licensed in Mexico, but many are a member of AMPI, the Asociación Mexicana de Profesionales Inmobiliarios or other, regional realty associations.

Agents who are members of these associations receive training and certification, and abide to a certain code of ethics, but note that association is not a form of guarantee or insurance and an Agent’s association does not afford buyers or sellers any protection in the event of mishaps beyond those already afforded by law.

Signs of a good realty agent in Mexico

A good local realty agents in Mexico will:

  • have lived in the area for at least some years;
  • know the local market, the terrain, the neighborhoods, and the local highlights;
  • be prepared to be upfront with you about any local issues and low-lights, helping you to make informed choices;
  • be willing to help you to find a rental home or AirBnB for an extended stay in the area before you commit to a purchase;
  • provide references from other clients they have worked with to attest to their local knowledge, experience, and service;
  • provide advice and support throughout the buying (or selling) process once you have chosen a home to buy;
  • project manage the mechanics of your purchase including liason with the seller, Notary Public, etc.

Properly established realty agents might also connect you to houses not generally advertised for sale, or homes which have only recently come to market but which have not been well publicized.

They’ll also be able to rent your house when you’re not there (ideal for part-time residents), help you to make the move to Mexico with connections to reliable local service providers, and later on they may also help you to sell your home.  A good working relationship with a professional and experienced local realty agent can last for years and pay long-term dividends.

Guide to working with a realty agent in Mexico

For a detailed guide packed with tips and local knowledge about the practicalities and benefits of working with a real estate in Mexico, download the free eBook guide to Working with a Realty Agents in Mexico.

Get connected to a local realty agent in Mexico

Buying a home anywhere in Mexico requires research and patience, and a good local realty agent can help with the search and purchase.

Find local realty agents in Mexico.

Buying, owning, and renting a home in Mexico

For detailed information about buying, selling, and renting a home in Mexico, as well as insights about the implications and responsibilities of owning a home in Mexico, download our free eBook guide to real estate in Mexico.

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Scouting for a Realty Agent to Work With in Mexico https://www.mexperience.com/tips-when-scouting-for-a-realty-agent-to-work-with-in-mexico/ Mon, 20 May 2024 15:16:01 +0000 https://www.mexperience.com/?p=58484_3b560f08-0c15-45d9-b6a8-1b658bd02b76 People buying or selling property in Mexico usually scout for a realty agent to work with. This article shares tips for shortlisting potential agents

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When you’re in the market for a home to buy in Mexico, or if you’re an existing homeowner here with a house to sell, you’ll probably hire the services of a realty agent to help you market and sell your property.

Here are some general tips and insights to consider as you begin your search for a realty agency (and agent) to work with to buy or sell a home in Mexico.

The agency ought to have a strong local presence

The realty agencies you approach, and the agent working with you, should be well established locally in the area you’re searching in.

The agency and its agents ought to be accredited by one of Mexico’s realty associations: AMPI is the most widely recognized, although regional associations also exist.

The agency and agent you choose should have a strong local presence—this usually means that they have been in business for at least several years and that the people who are helping you to buy or sell a property live in and know the locality well.

Consider the person, not the brand

Most buyers and sellers will find an agency, and then be connected to an agent through that agency.

When you’re working with an agent to buy or sell a home in Mexico, it’s usually the individual person, more than the firm they work with, that makes the difference between a good and an average agent.

Working with an agency that is legally established and has a good reputation is important, but the true value of the association will be forged in the relationship between the agent and the buyer and/or seller, not the agency per se.

Big brand agencies have global recognition, but they are all independently owned and run businesses.  Shop around and find someone who you feel confident and comfortable working with.

First impressions count

Observe carefully how the agent you contact behaves and communicates with you after your initial contact with them or their agency. The best agents work hard to cultivate an immediate rapport with their potential clients, and they do this by being responsive and asking the right questions, for example:

  • How promptly do they respond to your inquiries?
  • To what extent did they answer your questions?
  • What questions did they ask you that helped to widen your perspective?
  • What is your first impression of the agent?
  • How many questions did they ask about you and your intentions, to get a better understanding of your needs and situation?
  • Did they follow-up on promises to research and present adequate properties for your review?

The association is about you and your needs

The agent should take the time to understand your needs and aspirations and match your tastes and style to the properties they present you with. If, at any time, you feel that you are not being understood, you should say so and, if necessary, find some other person to help you.

You ought to feel comfortable with the person who is helping you to find your home in Mexico, or helping you to market and sell your existing home.  A close working relationship built on trust and mutual understanding is essential to cultivate confidence that the agent will work in your best interests and help you to achieve your goals.

Local knowledge matters

Whether you seek an agent through a big-name brand firm or a small local independent agency, you’ll do best when you find a person locally that is well known in the community.

The better agencies are staffed by people who have lived in the locality for a good while and know the area and its communities well.  These types of people can give you informed comment and meaningful insight about the location’s areas as well the lands and properties available for rent and purchase there.

As you scout for options of agencies and agents to work with, be sure to check how well established the agency and its people are in the locality where you want to buy. This is also important when you’re selling as you want an agent that is able to draw on their local knowledge and experience when they are talking to potential buyers.

Consider your existing contact network

When you begin scouting, don’t forget to consider any good realty agents you might already know in Mexico—perhaps the person you worked with to find a rental property, or if you own a property, the person who sold you that property.

Other friends and local contacts you may know in the locality might also be able to connect you to experienced agents they know and consider to be possible candidates to help you find or sell a home in Mexico.

Consider the overall value proposition

When you are seeking an agent to sell your property in Mexico ask them what services they offer in return for their fees—and also test their attentiveness.

The least expensive may not be your best choice.  Experienced realty agents in Mexico know that the buying and selling processes required to transact a property sale can be complex—procedures and paperwork can also be time-consuming, and they are rarely (if ever) routine.

Property sales transactions require a lot of energy and work to complete properly—and their time needs compensating through a reasonable fee.  Learn more about realty agents’ services and their fees.

Consider the agents’ networking capabilities

Whether you are buying or selling a home in Mexico, the better realty agents tend to have strong local (and sometimes regional) networks of people and organizations they know and work with.

Realty agents who have been in business for a long while and have weathered the ups and downs of the property market through the years are usually “integrated” into their local community.  They will be known by other agents; they will be plugged-in to local databases and other information sources, and they will be proactive and collaborative in their approach.

If you are buying, ask how they learn about properties that come on to the market, how they attract new listings, and how they work with other agencies—some of whom may hold the listing for the property you decide to buy.

If you’re selling, ask questions about their contact network and affiliations and how they will use their network of contacts to market your home, how your property will be featured on their website as well as other property listing sites and networks the agency is associated with.

Good agents create connections and save you time

A good realty agent can be a key contact that helps you to find the ideal home for your lifestyle in Mexico, and/or can help you to find the ideal buyer for your existing home here.

For buyers, a good agent with an intimate knowledge of the local area and a highly professional approach to real estate can be an invaluable contact and assistance service because most of the time, there will be an over-abundance of properties to choose from. Having someone who can curate a shortlist of appropriate homes and steer you clear of certain properties which do not fit your plans, or that are situated in areas not suited to you, can save you valuable time—a non-renewable resource.

For sellers, a good agent will provide a professional suite of marketing services and combine those with their networking and sales skills to find an appropriate buyer for your property in shortest possible timescale.

Learn more about property in Mexico

Mexperience offers detailed insights about property in Mexico for buyers, owners, renters, and sellers.

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Buying & Selling Property Using a Realty Agent in Mexico https://www.mexperience.com/buying-selling-property-using-a-realty-agent-in-mexico/ Fri, 17 May 2024 15:17:01 +0000 https://www.mexperience.com/?p=58371_edad5874-513f-4c17-bb85-e91b8f4f513b Most people use a realty agent to buy and sell a home in Mexico. This article describes the services agents offer, and their typical service terms and fees

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When you’re scouting for a property to buy in Mexico, and when you have a property you want to sell in Mexico, developing a good relationship with a local realty agent can help you get a wider understanding of the current market and their services can help you work through the stages of the transaction.

Buying property in Mexico using a realty agent

When you’re scouting for a property to buy in Mexico, developing a good relationship with a local realty agent can help you get a wider understanding of the current market and their services can help you work through the stages of the transaction.

Part of the professional team you need

The realty agent, and the agency they work with, is part of the professional team most people call upon when they want to buy a property in Mexico. A good agent will be well established locally and have experience and contacts that you probably don’t have and would find difficulty in acquiring in a short time scale.

By finding a reputable realty agent and investing time to cultivate a good working relationship with that person, you will be giving yourself access to local insights, experience, and market knowledge that you would find hard to come by without the help of an agent.

Local knowledge is key to a good investment

When you search for a realty professional who can help you find your ideal home or investment property in Mexico, look for an agent who has an excellent understanding of the local area you are buying in.

The agent should, ideally, have several years of experience in the business and live and work in the area they represent (the best ones always do). They should have an in-depth understanding of the locality and its neighborhoods and ideally should also own a home in the locality.  Most agents who interface with foreign buyers in Mexico are bilingual (English and Spanish), and some are polylingual.

Your project manager and interpreter

As we mentioned in a related article about the work realty agents do, property transactions in Mexico inevitably involve liaison between the interested parties, and carry a substantial amount paperwork as well as specific legal processes to follow to bring the sale to an orderly completion.

Your realty agent will earn their commission by negotiating with the seller on your behalf, explaining key aspects of the process to you, interacting across series of complex liaisons, and undertaking the detailed project management needed to get your home purchase completed in the quickest possible time scale.

If you don’t speak enough Spanish, they will explain things to you in English, and they will interface with other parties in Spanish.

Long term local support

A good realty agent may become a long-term ally—and some become local friends. Getting to know your local agent and developing a relationship can be helpful as your lifestyle situations evolve.

For examples:

  • if you decide to rent your house, the agent might be able to help you find renters;
  • if you have friends or family who want move to Mexico, the person may be able to help them in their search; and
  • when you come to sell your home, they will be able to advise you again and help you find a buyer.

Thus, a good realty agent can be a potential long-term association that can provide support and counsel on an on-going basis while you’re living in Mexico.

Selling property in Mexico using a realty agent

If you already own property in Mexico, then at some point you may want or need to sell your home, and you may seek the services of a realty agency (and its agent) to market and sell the property for you.

Do you need an agent?

In Mexico, realty agents’ fees can add up to over 9% of the sales price of the property in some cases (but this is negotiable, see below) and so some sellers consider bypassing agents and try to sell their house on their own, dealing directly with the buyer.

If you decide to bypass the services of a realty agent, you will need to:

  • assess the market value of your home on your own, or exclusively through the help of a property valuation surveyor
  • do all of your own marketing and advertising and pay for this yourself;
  • feel confident about dealing with potential buyers (and inevitable timewasters) and take phone calls and text messages (perhaps at unsociable hours, and also in Spanish), as well field emails and other correspondence;
  • undertake all the liaisons and negotiations in regard to price bargaining and what is included, etc.;
  • have a sales contract drawn up (in Spanish) and deal with all the liaisons and project management involved in the property transaction, likely in coordination with the buyer’s chosen Notary Public and other realty professionals;
  • be able and confident to deal in Spanish and in English or some other language if your buyers don’t speak English.

Most sellers discover that the services of an experienced agent are worth the fees. Some sellers who want to save money on the sales commissions may try to come to an arrangement with the agency whereby they agree to do some of their own advertising and marketing on the understanding that if the seller refers a buyer to the agent to undertake the negotiations and project management, a lower selling fee percentage will apply.

Exclusive and non-exclusive sales contracts with agents

When you are contracting an agent to sell your property, your contract with the agent will either be sole, exclusive or non-exclusive.

Sole contract means that the agent you sign with is the only third party that can transact the sale, although it allows the seller to find a buyer and deal direct.

Non-exclusive contract means that the seller can make agreements with an indefinite number of third parties to transact the sale.

Exclusive contract means that the agent the seller signs with is the only third party who can transact the sale and that agent will be owed their commission even if someone else (that might include the seller) finds a buyer and sells the house.

Most agencies want to sign sellers into exclusive contracts, whereby the seller agrees to list the property with only one agency and that agency is contractually entitled to the commission regardless of who finds a buyer.

This means that all other agencies and their agents in that area need to refer to the agency with the exclusive listing to sell the home, and thus the agency earns a share of the sale, even if they don’t introduce the buyer to the transaction.

Exclusive contracts will usually carry a lower sales commission rate but may limit your exposure and are rarely a good idea unless the property is in some way exceptional, or if the agency undertakes to invest a specific amount of money in additional marketing efforts to sell the property.

Setting time limits on listing contracts

Regardless of whether the contract to sell your property is sole, non-exclusive, or exclusive, reasonable time limits should always be set on sales contracts with realty agencies.

In buoyant markets across Mexico, for example, big cities and affluent tourist towns passing through a spate of high popularity, this time limit could be as short as three months.

In smaller or more niche markets, for example smaller towns, islands, and seasonal tourist spots the sales cycle can take considerably longer so you should expect to negotiate an exclusivity arrangement to allow for this, perhaps at least 6-12 months with set review dates.

Some agencies might insist on an exclusive contract and if they do, it ought not to be more than six months, and the commission rate ought also to be lower than that offered for non-exclusive listings.

Your sales price

One of the first things you have to do when you decide to sell is to make a reasonable assessment of your property’s value.

Be realistic with your pricing when you are selling.  Agents sometimes over-assess a property’s value to build a seller’s confidence and gain an exclusive representation contract.

It’s a mistake to choose an agent solely on the “highest valuation,” or sign a contract with an agent because they tell you that they “know motivated sellers.”

Some agents might try to gain your confidence by promising unrealistic sales time scales and prices. If a property won’t sell because of the price, that same agent will be the first to advise you to lower the asking price; and when the “motivated sellers” show themselves to be something less, all you will have gained is a need to find a more reliable sales agent.

Realty agent selling fees in Mexico

Most realty agents in Mexico charge fees of between 4% and 8% to sell your property.

The rate is always negotiable, but we don’t know of any realty agencies in Mexico who will work to actively market and sell a property for much less than 4% —unless it’s a very expensive property— and most charge in the range of 5%-6%.

Sales tax on sales commissions

In addition to the agent’s fee, you will need to pay Mexican sales tax —known as Impuesto al Valor Agregado, IVA— on the commission.  The IVA rate is currently 16%, and the table below illustrates the effect of this sales tax on your commission payment.

Sales Commission Sales Commission with Tax (16% IVA) Commission on a
$2-million-peso sale
Commission on
$5-million-peso sale
Commission on a
$10-million-peso sale
4% 4.64% MXN $92,800 MXN $232,000 MXN $464,000
5% 5.80% MXN $116,000 MXN $290,000 MXN $580,000
6% 6.96% MXN $139,200 MXN $348,000 MXN $696,000
7% 8.12% MXN $162,400 MXN $406,000 MXN $812,000
8% 9.28% MXN $185,600 MXN $464,000 MXN $928,000

Factors that can influence the agent’s sales fee

The sales commission rate an agency will agree on with sellers will be influenced by a range of factors that can include:

The value of the property. Sellers of higher value properties might be able to negotiate a lower rate, but lower value properties always pay the higher rates as the project management costs involved to complete the transaction are similar regardless of the home’s sale price.

The current state of the market. If the market is very buoyant and competition among agents for listings is fierce, agencies might lower their rates as they will make up the difference in volume.  However, in slower markets agencies will likely need to charge a higher percentage to reflect the additional marketing costs, longer sales cycles, and lower volume of sales.

The condition of the property being marketed. If the property you are selling is in particularly good shape, attractive, and readily marketable, the agency may determine that it will be easier (less expensive) for them to market than a more plain, less attractive property.  All agencies like to have some ‘eye candy’ in the showcase, and they might negotiate a lower percentage with you if the home you’re selling qualifies in that way.

The contract terms. Agencies will usually (but not always) offer a lower rate for an exclusive contract, especially if they consider the property to be attractive and highly marketable.  This is because the agency will earn the full commission on the sale if they find the buyer and share the sales commission with the other agency even if they don’t introduce the buyer.

Be reasonable with your agency negotiations

When negotiating terms on the percentage commission for the marketing and sale of your home in Mexico, keep in mind that it costs a considerable amount of money to operate an agency and actively market a property for sale, and then significant time, effort, and expertise to manage through a property transaction to successful completion of transfer.

Some agencies might offer you a lower rate if you introduce the buyer to them; this leaves them to manage the negotiations and project manage the transaction to completion.  In this scenario, you will need to spend time and money upfront on advertising or other promotions in order to attract potential buyers and benefit from the lower percentage sales commission.

As you negotiate with the agency or agencies you choose to approach, try to find an equitable commission level that gives you, the seller, a competitive rate, and provides the agency you have signed with reasonable compensation for actively marketing and managing through the sale of your home in Mexico.  Remember that you don’t pay the agency if they don’t sell your property.

Learn more about property in Mexico

Mexperience offers detailed insights about property in Mexico for buyers, owners, renters, and sellers.

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How Realty Agencies are Organized and Work in Mexico https://www.mexperience.com/how-realty-agents-are-organized-and-work-in-mexico/ Mon, 15 May 2023 16:21:49 +0000 https://www.mexperience.com/?p=58281 Most realty agents in Mexico work through established local agencies. This article describes how agencies and their agents are organized and work together

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When you’ve chosen a location in Mexico to live, there’s the matter of choosing the locality and the neighborhood, the type of home you want or need to live in, as well as working out matters like finances and the logistics of the physical move itself.

Finding and working with a well-established realty agent in the locality you intend to move to in Mexico can bridge important gaps in most people’s capabilities by providing local knowledge, logistics and project management through the transaction of a house ownership transfer.

Practical support through the transaction

Realty agents in Mexico are marketers and salespeople, and they’re also interpreters and project managers.  Most realty agents serving foreign buyers are bilingual, and some are polylingual, enabling them to interface between buyers who don’t speak Spanish and helping them through the throes and legal procedures of renting, buying, or selling a property in Mexico.

Some sellers recoil at the fees agencies charge, and try to market and sell their property privately.  However, the value for money realty agents provide to foreign buyers especially is substantial when you consider that:

  • marketing costs are expensive;
  • the project management required to manage through a property transfer transaction to completion is substantial;
  • agents earn their fees only when a house is sold and there are many hours spent supporting potential buyers that never come to fruition;
  • the agents are acting as representatives, interpreters, liaison, and project managers—all within a context that is oftentimes alien and confusing to most foreign buyers.

Thus, taking the time and effort to find and ally with a realty agent as an integral part of your lifestyle plans Mexico is a shrewd investment in its own right.

Realty agencies: how they’re organized and work

Unlike in the US, realty agents do not have to be licensed to operate as agents or set up an agency in in most states in Mexico.

This means that in most places anyone can set themselves up to work as a real estate representative (or “agent”) – and there are plenty of people who do, with varying levels of expertise, experience, and professionalism.

A national realty organization known as AMPI offers a code of practice and courses for realty agents and is the closest thing there is to professional certification here. Although it’s not required by law, agents who are committed to their trade and established are usually members of AMPI, and agencies will usually insist that any agents who want to associate with them are AMPI members.

While some agents work entirely independently, most are associated with at least one established agency (or brokerage) and the hierarchy of structure and responsibilities is organized more or less as follows:

Agencies (brokerages)

An agency office (or brokerage) is a hub around which agents work, usually independently, although some might be on the agency’s payroll in addition to earning a commission on sales.

The agency provides a formal infrastructure for agents to work with including office space, as well as marketing, commercial, clerical, and legal support services—all furnished within a ‘brand’ or trading name that is advertised to homeowners and potential buyers (or renters) seeking a new home in Mexico.

Global franchise agencies

Centrury21, Coldwell Banker, ReMax, and Berkshire Hathaway HomeServices are among the ‘global’ names you will see trading in Mexico when you begin looking for agents.

Although these agencies have a global brand recognition, they are in practice a network of independently run-and-managed franchisee agency offices.  The people who work at these agencies make use of the branding and marketing systems provided by the franchisor, and these agencies can also benefit by being able to market their clients’ homes across the global networks they are affiliated with.

Some Mexican franchise agencies also operate in the market, for example Tecnocasa, but these are usually working within a specific metro area or region and don’t have national reach.

Independent local agencies

Most agencies that are not part of one of the big-name global (or regional) networks are independently run—sometimes by foreign residents who were licensed brokers or agents in their home country and came to Mexico and set-up a brokerage here.

The agencies that service potential foreign buyers tend to hire a mix of Mexican and foreign nationals as agents, so as to offer a cross-cultural team that can help foreign buyers to find a home and settle into a new lifestyle in Mexico.

Services that realty agencies provide in Mexico

Agency offices provide a central focus point and hub for their agents and their clients.  The work and support services agencies provide include:

Local presence and point of contact: providing the brand name and central point of contact for existing homeowners in Mexico wishing to sell their home as well for buyers seeking to buy a home (or rent) in Mexico.

Physical location to trade: providing a physical ‘store front’ with customer reception area, meeting rooms and marketing suites that enable agents, buyers, and sellers to meet and interact together.  Agencies thus provide their agents with office space, a central point of contact, as well as a range of marketing support services including an online presence and email address.

Legal and commercial structure: acting as the legal entity with which agents and clients interact, providing contracts and other technical support, and manage the agency’s website and its property listings, including property profiles on ‘MLS’ (Multiple Listing Service) systems which many agencies use to promote and track properties for sale.

Marketing services: agencies invest in marketing to attract existing homeowners wanting to sell their home as well people seeking a property purchase. Some, but not all, agencies also manage property rentals.

Local networking and contacts: agencies are often a network hub that connect relationships between local Notary Publics as well as other realty-related professionals including property developers, lawyers, accountants, architects, and property surveyors.

National and international affiliations: some agencies are affiliated with national or international networks that they use to market and sell their client’s properties to potential buyers outside of their immediate locale or region.

Agencies & Agents usually represent both sides of the transaction

Unlike in many states in the US, the same agency (or its agent) may represent both the buyer and the seller in a property sales transaction in Mexico.  In theory, agents are supposed to represent both parties equitably in these situations, although it’s worth keeping in mind that the agent representing you as a buyer, might also be representing the seller’s interests.

Realty agents: how they’re organized and work

There is no legal requirement to be licensed or certified to be a real estate agent in most states in Mexico, although the better agents tend to be a member of AMPI, an acronym for Asociacion Mexicana de Profesionales Inmobiliarios. This is a Mexican trade body for realty agents that offers courses and examinations, and also sets out a Code of Practice for its members.

Most agents work in association with an established local agency (brokerage), although some might work entirely freelance, using their networks of contacts to connect buyers and sellers while interfacing with several agencies in the locality where they operate.

Agents are not usually on the agency’s payroll. Some might earn a small salary from the agency, but most all rely on the commissions they earn from completed house sales.

Although buyers’ and sellers’ initial contact tends to happen through the agency’s switchboard, the relationship is developed with an agent—and this is the key relationship that you need to concern yourself with when you want to buy a home in Mexico, or sell an existing home.

What realty agents in Mexico do for you

Within the legal structure provided by the agency they are associated with, agents will undertake a range of services and duties on behalf of buyers and sellers.  These include:

Point of contact for buyers and sellers: agents provide a single point of contact for a seller wanting to sell their home in Mexico, or a buyer wanting to buy a home.

Sales coordination work: for sellers, agents visit the home the owner wants to sell, arrange for photographs to be taken and video footage to be captured, and coordinate the creation of the sales information pack/brochure using details provided by the seller. Agents will negotiate and use the agency’s contracts to agree terms with the seller, and lead the work to actively market the property on behalf of the seller.

Scout and advisor for buyers: local realty agents serve as a local contact point and advisor. Good agents seek to understand the lifestyle needs of the buyers and then draw-up a short list of suitable properties for the buyers to review.  The agent will liaise with owners to set-up viewings of properties the buyers are keen to see after browsing the online brochures and information packs that present the home.

Liaison between the parties: agents act as a go-between the seller and buyer and also triangulate liaison where another agency or third-party agent is involved. They will work with sellers and buyers to agree on a sales price and terms of the sale, including details about what is included and excluded as part of any transaction;

Project management and liaison with realty professionals: when an offer has been tabled and accepted, the role of the agent changes from marketing and sales to project management and liaison between the buyer, seller, agency, developer (if there is one), Notary Public and any other realty professionals who may become involved, for example, a surveyor.

Significant amount of of project management work required

When a seller and buyer have agreed a price to sell a property, a significant body of ‘project management’ and coordination work must undertaken to bring the transaction toa close.

This is includes a lot of paperwork, liaison between different parties, dealing with issues and problems, and ensuring that buyers and sellers are aware of regulations (like anti-money laundering) so that they provide the necessary documents to progress the transaction.

Agents often work bi-lingually as not all buyers speak Spanish, but all the legal aspects of the transaction are performed in Spanish.  People who decide not to use a realty agent discover at this stage the enormity of the task required to bring a property transaction to a successful conclusion.

National realty associations in Mexico

Various professional associations exist which many of the established agencies and agents are members of even if the state they are in does not demand they are licensed.

AMPI

AMPI is the acronym for Asociacion Mexicana de Profesionales Inmobiliarios: the Mexican trade body for realty agents which also sets out a Code of Practice for its members.

It’s the most well-known of all the trade bodies, and is organized into separate, autonomous, regional bodies (or chapters) and also has a National Counsel.

Agents pay an annual membership fee plus local dues set by the regional chapter. Regulations and procedures vary by chapter, but the code of practice is always based upon the national code.

AAIMAC

Asociación de Agentes Inmobiliarios de México
AAIMAC Online: aaimac.org

COPIM

Consejo de Profesionales Inmobiliarios de México
COPIM Online: www.copim.org.mx

UPIM

La Unión de Profesionales Inmobiliarios de México
UPIM Online: upim.org

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