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Government bodies warn about buying real estate from unaccredited agents

Playa del Carmen, Q.R. — Local chambers and government bodies of the state emphasize the importance of dealing only with licensed real estate agents in Quintana Roo.

In a joint press conference, the Chamber of Commerce Services and Tourism (Canaco Servytur) as well as the Playa del Carmen chamber of the Mexican Association of Real Estate Professionals (AMPI), are informing potential home buyers and real estate investors of the new rules governing all agents in the state.

José Luis Hernández Barragán, President of Playa del Carmen Canaco, explained that the laws governing the buying and selling of real estate in Quintana Roo was published on June 6 of 2014, and includes anyone carrying out real estate activities, even as intermediaries.

He noted, when it comes to real estate, “Today it is no longer easy to do which is why it is regulated by law. The laws are executed by the Ministry of Urban Development and Housing (SEDUVI) and other authorities as judicial power of the state.”

Ana Alicia López, president of AMPI Playa del Carmen, asks people who are considering a real estate purchase, “To approach a real estate professional who is certified in Quintana Roo. We already have certification for them, so you can ask for it. There is also a page that you can search on Seduvi.

“We suggest asking for the documentation that guarantees they are trained and cover the codes of ethics, because it is their practice that is at stake,” she added.

Although they did not offer figures on how many irregular advisers are still practicing without the proper accreditation, they did emphasize the risk that an investor takes when buying real estate from an unlicensed agent.

Enrico Dozza, vice president of Foreign Investment of Canaco, said that by joining with AMPI, “We want this tourist destination to offer certainty and a guarantee to the investor that they are being advised by someone prepared, because it adds a lot money into the destination. By doing this, we have the confidence that we won’t have problems later.”

Dozza stressed that those enrolled in AMPI are considered an accomplishment and anyone practicing real estate without AMPI accreditation could be fined up to 80,000 peso. He also said that with the Canaco-AMPI alliance, they are hoping to be able to collect figures as to how much real estate investments generate for the state.