As non-Mexicans buying Mexico Real Estate, one of the first things you might look for (and should look for!) is an indication of a high level professionalism in the Mexico real estate agent you are considering to represent you in the process.  Back in the U.S. and Canada, and other countries, we know that a practicing real estate agent is required to hold a state issued real estate license, indicating a sufficient level of knowledge in the industry, as an official demonstration to clients that he or she is able to carry out such a transaction for you.  While there is no Mexico real estate license requirement for most states, you will be happy to know that recently a degree in real estate and a Professional Identification Number have been implemented in Mexico.  While the degree is currently not required, it shows that Mexico is moving towards a level of professionalism similar to what we are used to back home, and perhaps even higher.

If you do your homework, as a soon-to-be buyer of Mexico Real Estate, you quickly learn that in this country most states have no real estate license requirement, with the exception of Sonora and Nayarit.  If you continue to do your research, and make sure you find out something about the business culture you are about to participate in, you will also learn that other regulations to protect real estate buyers are not as well defined.  This will lead you to the conclusion that you need a well experienced, reliable, knowledgeable professional to guide you in the purchasing process. Next, you will ask for and check references, and ask for experience and evidence of professionalism (certificates, membership in  professional organizations such as AMPI, etc.).  While this process will continue to be necessary on your part as a buyer, the new degree will serve as a nation-wide indicator of professionalism and knowledge for the Mexico real estate agents and brokers who hold it, and could save you a few steps in all this research you have to do.

The Implementation of the New Mexico Real Estate Degree

The new university degree in Mexico Real Estate is a very recent step forward in the Mexico real estate industry.  Only this year, 2009, the Mexican Association of Real Estate Professionals (AMPI), managed to have the Mexican Federal Ministry of Public Education (SEP) implement the new degree.  This degree serves two purposes; one is to give professionals with years of experience directly in the field an opportunity to demonstrate their knowledge officially, and to earn a university degree to reflect their abilities; the other is to allow inexperienced university students to take a full 4 year course of studies in real estate so that they enter the field better prepared, and have solid base of theoretical knowledge on which they can begin to build experience.

The degree itself was implemented at the request of AMPI as a response to the lack of license requirements in the field.  Much of the work to set up the degree was done on a non-paid basis by AMPI.  Since the government has not been making requirements for official professionalism in the field, AMPI felt the need to respond and “professionalize itself.”

Obtaining the Degree through an Exam and Evidence of Experience

In the Mexico Real Estate industry, there are already a large number of professionals who have used experience to gain a thorough knowledge of the field, and have supplemented this with courses, diplomas and other forms of training.  They have made themselves highly experienced and knowledgeable professionals.  A part of the implementation of the new degree is to allow such professionals to earn the degree by demonstrating and re-enforcing the knowledge they have already acquired. For this purpose, an exam was created.  Experienced professionals can choose to take a preparation course, in order to review and preview the information required to complete the exam.  Even just to enter the preparation course, there a minimum experience requirement; La Salle University, for example, has a 3 year experience requirement.  The exam itself, administered as a joint effort by AMPI and CENEVAL, is a 5 hour exam, with 177 multiple choice questions, divided into 8 sections.  The first exam was administered early in 2009, in 16 different locations across Mexico.  The exams were administered simultaneously to increase test security, avoiding access to the questions before the exam at any location.  The exam was applied according to strict guidelines in all aspects to ensure professionalism and security.

For these professionals who choose to obtain the degree in this manner, the exam is only the first step. If they successfully pass the exam, they must also demonstrate direct experience in the industry.  This experience can be demonstrated, for example, through certificates, letters from their AMPI office, and documents evidencing that they have carried out real estate transactions, i.e. from notary publics, etc.  All documentation must meet strict requirements and is carefully evaluated.  Candidates who both pass the exam and demonstrate their experience successfully are granted the new degree in real estate.  As can be seen from these requirements, the guidelines and professionalism of the process guarantees that only experienced professionals can obtain the degree in this way.

University Course of Study

The degree will also be available as a regular 4-year university course of study at selected, reputable universities, both public and private.  This option is available for university students, usually entering from high school, wishing to prepare themselves professionally for a career in real estate.  While these students will not have the experience which they can only gain with time and participating in real transactions, the degree will give them a firm base of knowledge to begin their career.

The Professional Identification Number

Another element which has been implemented with this degree is a Professional Identification Number, or “cedula profesional” in Spanish.  This Professional Identification Number will be granted to each person who receives the degree, and only to those who receive the degree.  In Mexico the “cedula profesional”  is applied only for highly trained professions, such as doctors and lawyers.  The implementation of this “cedula profesional” for real estate brokers is an indication of moving towards the same level of professionalism as the fields of medicine and law.

The Future of the Degree and Requirements

There are two key differences between this new degree and real estate licenses as we know them from back home.  One is that the level of professionalism and involvement to acquire them is actually higher than real estate licenses in the U.S. or in Canada.  The process of obtaining the Mexico Real Estate degree is far more involved, and the test and documentation process is carried out on a more secure basis.

The other difference is that the degree in Mexico is not yet required.  For the moment, the new degree and Professional Identification Number are obtained on a voluntary basis.  In the future, AMPI hopes to move towards legal requirements, perhaps for the broker of each office to hold the degree, with the eventual hope that all who dedicate themselves to this industry will have the new degree.

Implications for buyers of Mexico Real Estate

While the degree is not yet a requirement, it indicates a movement towards a very high level of professionalism on an official level for the Mexico Real Estate industry.  It also serves as an current indication of this same high level of professionalism for the brokers and agents who have chosen to obtain, and demonstrated their ability to obtain the degree.  In these cases, the degree and Professional Identification Number are an official and reliable demonstration of what you as a real estate client would otherwise have to investigate in a more time consuming way; thorough knowledge and a high level of experience to protect your interests and guide you safely through your Mexico purchasing process.

TOPMexicoRealEstate supports the same values towards which AMPI is moving with the implication of the new degree; a high level of professionalism in the field, and continuous education and expansion of agents’ knowledge of the real estate industry to serve you, the clients, better.  One way in which this commitment was demonstrated was through the fact that Thomas Lloyd, founder and president of TOPMexicoRealEstate, was among the first group of Mexico Real Estate professionals to receive this degree.

Beatriz Lozano, “TOP Mexico Real Estate NETWORK; Mexico’s leading specialists for finding and purchasing Mexican properties safely !” (512) 879-6546 or the company’s web site www.TOPmexicorealestate.com

Related posts:

1. Professional Mexico Real Estate Licenses
2. The First Mexico Real Estate Professional License and Degree
3. AMPI Mexico Real Estate Professional License and Degree

Mexico Real Estate offers many great opportunities.  However, because of the fact that laws and processes are different here in Mexico, many non-Mexican buyers make costly errors because they don’t take the time find the information they need first.  In some cases when buying Mexico homes, the new buyers even make blunders that they would avoid back home – simply because of the uncertainty of being in a different business culture.  Based on their years of direct experience in the Mexico property market, a panel of experts from the TOPMexicoRealEstate NETWORK, “certified professionals that specialize in guiding new buyers through the Mexican purchasing process,” has identified the top 5 mistakes made by non-Mexican buyers.  The following is a compilation of their answers, giving a general overview of their answers for each of the five points, then giving their exact answers below.  Each mistake is followed by advice from the panel on how to avoid causing problems for yourself in that area.

The real estate experts who contributed to this article are:

Jim Scherrer – Puerto Vallarta Real Estate

Linda Neil – La Paz Real Estate

Mitch Keenan – Yucatan Real Estate

Thomas Lloyd – Playa del Carmen Real Estate

The top 5 errors non-Mexican buyers make are:

#1 Not surrounding yourself with reliable, experienced professionals

The panel’s answers point to this as the number one error that non-Mexican buyers make when buying Mexico Real Estate.  The key behind this is to find an experienced, reliable broker or agent.  After this, it is also necessary to find a notary public – again with knowledge and experience to do things right – and a Mexico title insurance company, among others. A reliable agent is central, as they can also help point you to other trustworthy professionals.

The panel’s answers are:

“Not using a reputable Agent/Broker, not using a reputable notary public, and using a Title Company.” – Mitch Keenan – Yucatan Real Estate

How can you avoid this error?

“Check with the USA Consul in Mexico. They have a list of recommended Notary Publics and Agents.” – Mitch Keenan – Yucatan Real Estate

“When you select an agent, make sure that the agent is member of AMPI, The Mexican Association of Real Estate Professionals.  Also, check references.  This agent is representing your purchase in a country where you are not familiar with the laws; you need to be confident that that person is.” -  Linda Neil – La Paz Real Estate

“These top 5 errors are only a few examples of the items and risks that a non-Mexican buyer must administer. There are hundreds of other topics that a buyer must address and decide upon; only through EXPERIENCE can teach us to look for these issues. The best way to avoid all of these mistakes and other errors in the purchasing process is to surround yourself with experienced players. It costs the same commission rate to hire an agent with 15 years experience vs. an agent with only 2 months experience.  If you are making a $200,000 dollar investment wouldn’t it make sense to hire someone with credentials and years of experience to represent you.” – Thomas Lloyd – Playa del Carmen Real Estate

#2 Buying from the listing agent and not finding an exclusive buyer’s agent

Even if an agent seems honest, reliable or experienced, no agent who is representing the seller can also represent they buyer fairly, since each one needs an agent protecting only their interest.

The panel’s answers are:

“The most common mistake I have seen are for new buyers to retain the services of a real estate representative just because he was advertising a property on the internet and had his email and phone number on a yard sign next to a property. I am surprised as how some non-Mexican buyers who are very diligent in their money investment decisions while in their home countries come to Mexico and will choose to retain the services of a real estate agent based on the fact that the agent is able to speak English.” – Thomas Lloyd – Playa del Carmen Real Estate

“Buying anything from a listing agent or the sales agent representing the developer; their loyalty is to the seller and they have a fiduciary duty to that seller. No matter how honest, nice, and sweet that agent may seem, it would be a conflict of interest for him to discuss any negatives about the property or to truly help the buyer in getting the best price and contract protection.” – Jim Scherrer – Puerto Vallarta Real Estate

How can you avoid this error?

“Use a professional buyer’s agent exclusively representing buyers and having no listings.” – Jim Scherrer – Puerto Vallarta Real Estate

“The agent who represents you as a buyer cannot represent the seller as well.  Agreeing to and signing an agency disclosure agreement can serve as further protection.” – Linda Neil – La Paz Real Estate

#3 Not carefully considering the implications of different property types, locations, etc.

Different property types have different have various considerations to be made.  Especially the area of pre-construction purchase of Mexico Condos needs special attention; preconstruction offers excellent opportunities, but for the buyer’s protection, the right steps need to be followed.

The panels answers are:

“Buying a pre-construction Mexico Condo with a payment schedule based on the calendar.” – Jim Scherrer – Puerto Vallarta Real Estate

“Buying in a remote (and supposedly growing) area in order to save money. As everyone knows, the three main rules to buying real estate anywhere are location, location, and location. During periods of recession and/or slow growth, these remote areas are the first to drop in value and the last to recover. With current economic conditions the way they are, it may be many years before the remote areas see any appreciation in value.” – Jim Scherrer – Puerto Vallarta Real Estate

“You should not attempt to buy Ejidal property. Ejidal property offers considerably lower prices, but it must be converted to private property before it can be sold.” – Linda Neil – La Paz Real Estate

“When purchasing in preconstruction, to allow for some money to be held back until the legal possession has been delivered. Many times the buyer will have paid out the entire value of the property, have received the physical possession, yet remain waiting for the developer to deliver the legal possession.” – Thomas Lloyd – Playa del Carmen Real Estate

How can you avoid these errors?

“The buyer needs an agent that knows how to write purchase contracts that protect the buyer’s initial deposit and progress payments. They should be prepared with payment schedules based on construction milestones, delivery dates, closing date, etc. as opposed to calendar dates. They should also have construction delay penalty charges, contingencies for 100% refunding upon failure to perform, and escrow protection.” – Jim Scherrer – Puerto Vallarta Real Estate

“Include only private property in your property search.” – Linda Neil – La Paz Real Estate

#4 Not reviewing contracts and documentation or following processes properly

Reviewing all documentation and following processes properly is necessary in any real estate purchase.  However, this is especially true when buying Mexico Real Estate, where regulations are not as well defined to protect the buyer, and taxation and other processes follow different rules than what buyers are used to in their home country.

The panel’s answers are:

“Many first time buyers do not understand the implications of the Capital Gains Tax issues. They believe that capturing a low acquisition cost on a property will decrease their closing costs expenses but forget to understand the more expensive capital gains tax levied against profits on the sale of the property.” – Thomas Lloyd – Playa del Carmen Real Estate

“A potential risk is not to check if you are dealing with the legal owner of the property.” – Linda Neil – La Paz Real Estate

“Assuming everyone they deal with has the same business ethics as they are accustomed to in the US or Canada, thereby not paying extremely close attention to ALL documentation they are signing.” – Jim Scherrer – Puerto Vallarta Real Estate

“Not including a clause in their purchase sales agreement to allow for the first beneficiary (the buyer) to have the voting rights transferred from the fiduciary for condo association meetings.” – Thomas Lloyd – Playa del Carmen Real Estate

“Some non-Mexicans believe they can hold property with a private contract and avoid paying closing costs and taxes. They are placing much of their hard earned money at risk by not receiving a title duly subscribed with a notary public and filed in the public registry.” – Thomas Lloyd – Playa del Carmen Real Estate

“Depositing money in an agent’s or seller’s personal account.” – Mitch Keenan – Yucatan Real Estate

How can you avoid these errors?

As Thomas Lloyd points out above, “these top 5 errors are only a handful of examples of items and risks that a non-Mexican buyer must administer.”  It is almost impossible for an new buyer to manage, and often even be aware of, all of these considerations.  Therefore, it is of key importance to have a reliable agent whose experience gives them the necessary knowledge of the various contracts, processes and documents involved.  Additionally, the panel points out the following:

“Never deposit money or give money to an agent or a seller without verifying that the agent has a verified earnest money account or escrow account.  It is always a good idea to spend the extra $500 bucks to set up an escrow account with a title company to hold the deposit.”  – Mitch Keenan – Yucatan Real Estate

“Deal only with the legal owner of the property or a legal power of attorney.  It is necessary to request, receive and review a copy of the title.  For cases such as this, your agent will have to know Spanish, or you will need to get a certified translation.  You should also have a title investigation, and buy title insurance.  Even if the prices are high, it is worth avoiding risks involving the title.”  – Linda Neil – La Paz Real Estate

#5 Rushing a Decision

Your Mexico real estate purchase is one of the most important decisions you will make, whether it is property for your home, or for an investment.  Rushing into a decision can have undesired, long term consequences.

The panel’s answers are:

“Being pressured into a hurry up decision.” – Mitch Keenan – Yucatan Real Estate

“Spontaneously buying on the beach, having no idea of the many magnificent properties available with better views, neighbors, lifestyle, etc.  than can be found on the beach.” – Jim Scherrer – Puerto Vallarta Real Estate

How can you avoid this error?

“Never be pressured into a deal. Take your time do your due diligence.” Mitch Keenan – Yucatan Real Estate

If you feel you are being pressured, or not being presented with all the best options, also see the advice for error #1 “Not surrounding yourself with reliable, experienced professionals,” and error #2 “Buying from the listing agent, not finding an exclusive buyer’s agent.”

For further information about buying Mexico Real Estate and avoiding costly errors, contact a Mexico Agent in the TOPMexicoRealEstate NETWORK; OUR EXPERIENCE; thousands of Property transactions & years of assignments in Mexico AT WORK,  PROTECTING YOUR INTERESTS.

Related posts:

1. How To Buy Real Estate in Mexico…Safely!
2. Mexico Real Estate Myth: “I’ll get the Best Deal If I contact the Agent who is advertising the property.” – FALSE!
3. Buying Property in the Changing Yucatan Real Estate Market

A couple of weeks ago I had the opportunity to sit down and talk with the president of the AMPI Mexico national president, Pedro Trueba who was visiting us from Mexico City,  and president of the AMPI Riviera Maya president, Wilberth Gutierrez.  There are many factors that influence or makes the Playa del Carmen real estatemarket a leading region in Mexico which we discuss in the interview.  And Pedro Trueba discusses various issues about the Mexio Real Estate  market that makes this country a leading and growing retirement destination for Americans and Canadians.  As many of you have learned and read, the Mexico retirement  area has become an important focus point for many politicians and developers in the past couple of years.  We chat a little of why this is a leading solution to some of the problems that many Americans are facing amongst those being the higher costs of living and lower dollar value in savings.  Below on the video screen, click on to hear this interview   

To listen to part one of our conversation where we talked about the AMPI association and their role here in Mexico in helping buyers/sellers of real estate and a discussion about the new Mexico Real Estate Degree, Click here; Mexico Real Estate Blog.  

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

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 Last week I had the chance to talk with the AMPI national president, Pedro Trueba about a few topics regarding the Mexico real estate market and also with Wilberth Gutierrez about the Playa del Carmen real estate areas.  Many non-Mexican buyers are unfamiliar with the process of buying or investing into properties here south of the border.  The AMPI logo and the training that AMPI associates are offered and how this can benefit non-Mexican buyers are discussed in the video below.  A new Mexico real estate degree is now offered in this country and in this industry which is exciting news as I am fortunate to be one of the first generation Realtors to have been awarded this title along with an official professional identification number.  Again, these credentials and degrees are now available so that buyers or sellers can now have another manner to more efficiently evaluate or compare when choosing which Realtors can most adequately and professionally represent their interests.  We chat about this below.    

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

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A milestone and historic event occurred in Mexico real estate this August Recently, the AMPI association was able to implement a new degree in the Mexican universities and obtain the classification of a new professional license for Mexico Real Estate professionals The new university degree is being offered as an option in the universities in response to the Mexican authority's concerns that improved standards and better training should be required for real estate consultants and professionals in Mexico Fernando Gonz lez Salazar, Director of the Professional License Department ofAMPI pointed outThe market and clients, demand true professionals, specialists in the commercialization of real estate with recognized studies and a professional license authorized by a federal government body.”

The new professional title is officially authorized and administered by the SEP (Secretary of Public Education), and is in response to the request from the consumer market The title is offered through a combination of a professionally applied exam of high security – and the requisits of demonstrating ample experience in the industry Or, also, the title can be obtained from attending 4 years of courses at several universities selected throughout Mexico

Antecedents

“We have estimated that there are nearly 19,000 people practicing within the Mexico real estate industry.” Mentioned Lic. Laura Flores, coordinator of the process EGATSU-CI within AMPIOf these approximately 2,300 are associates of the AMPI organization . Before the new title of Property Commercialization was presented, Mexico real estate licenses were not offered although certifications were available, such as those offered by CONOCER organization and by AMPI chapters. In the state of Sonora for example, a license to work in the industry was available and required The license was available for those who realized the test and obtained the certification.

A group of associates in the national office of AMPI have been working with great dedication for the past several years to change into reality the idea of a Mexico real estate professional license And in doing so, increasing the level of service standards in the Mexican real estate industry.AMPI contributed many man hours, knowledge and dedication from key members of their organization to ensure this milestone achievement was accomplished In July of 2009, the first Mexican Real Estate Title and Professional License was presented and delivered to Thomas Lloyd CONGRATULATIONS to AMPI, to CONOCER, to SEP, to all of the efforts and dedication from many people in the industry, and to Thomas Lloyd for having the opportunity to participate in this milestone event

Beatriz Lozano, “TOP Mexico Real Estate NETWORK; Mexico's leading specialists for finding and purchasing Mexican properties safely !” (512) 879-6546 or the company's web site www.TOPmexicorealestate.com

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The latest news in the Playa del Carmen real estate market is the new AMPI board getting active in the industry to invite new members to get involved in the local association Last May, elections were held in the Playa del Carmen AMPIchapter and a new board was chosen Wilberth Gutierrez is the new president and has started to work immediately on introducing and beginning new ideas and projects to the regional industry AMPI is an organization that is represented throughout the Mexico real estate market in all states of the republic With 4,000 members nationwide, it is the leading association for this industry

Some of the main objectives of the new board for the next 2 years term are; Promotion of the Activities in the Real Estate profession, creation of an AMPI business center, support social programs and associations that are created for the municipality and the community, and also to continue the efforts of creating a career and educational programs for the brokers and agents that work throughout the Playa del Carmen region and in the real estate industry

This past friday, the first party to invite non-member and AMPI members was held on the roof top of the condominium project called DEVA This beautiful building hosted nearly 50 guests to mingle on the solarium to relax and speak of real estate activities in the community Music, pool, and ocean views allowed a pleasant back drop as Wilberth Gutierrez and the AMPI committees (Thomas Lloyd is currently serving on the Honor and Justice Committee) welcomed many new local realtors to become active in the process to voice their opinions and get involved in educational programs

The board also took advantage of the party to announce the program of a raffling of a Playa del Carmen condo A fully furnished condo, with title, with an estimated value of $300,000 usd will be raffled in the month of December of 2009 Other prizes will include 10 televisions, 10 scooters, 10 refrigerators, 10 vacation packages, and 10 laptops The money raised is for the construction of a business center for the Playa del Carmen AMPI section

Beatriz Lozano,” TOP Mexico Real Estate NETWORK; Mexico's leading specialists for finding and purchasing Mexican properties safely !”(512) 879-6546 or the company's web site www.TOPmexicorealestate.com

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What you need to know before making important decisions about Mexico Real Estate.

Did you know that real estate licensing in Mexico is not mandatory That anyone can sell real estate without having to go through training specific to the field There just recently became available a program to obtain a Mexico real estate professional degree and license but again, this is not mandatory. Yes, unfortunately this is all true. So how can you, as a consumer, protect yourself in such an unregulated market

Even though the field is not yet regulated, there is an association that was established to ensure good business ethics among its members. This association is called A.M.P.I (The Mexican Association of Real Estate Professionals) A.M.P.I. National was founded in 1956 in Mexico City with the intention to raise the technical level of the profession and establish codes of ethical business practice. This group is diligently pursuing the matter of licensing as well as ongoing training requirements for the real estate field.

This group has been striving towards a higher level of professionalism and has been recognized by NAR (National Association of Realtors) in the USA. Because of their high standards of ethics, A.M.P.I. members are now recognized as NAR International Affiliate Members. A.M.P.I. is also a member of ICREA (International Consortium of Real Estate Association) an alliance of leading national real estate organizations in the world s major marketplaces.

The constant pursuit for professionalism in the real estate field, has led to the development of courses that members can now take and one day such courses will be a requirement to receive the real estate license. For example, this year in the Cancun real estate region, the A.M.P.I. organization will sponsor a six day course for C.I.P.S (Certified International Property Specialist) as part of the ongoing training for members.

As professional Mexico brokers and agents in the market place, we get to see first hand some of the questionable practices of unprofessional independent orpart time brokers and it is frightening to see the risk unsuspecting consumers are exposed to. Many foreign consumers are unaware that the real estate profession is not regulated. You should always investigate the background of a broker before entrusting them with your business. Beware, some brokers may use the A.M.P.I. logo without being a member of the association. Some may even use the REALTOR logo if they were a licensed broker in the US, but they may not be a member of A.M.P.I. Selling real estate in the U.S. is very different from here in Mexico, so being a REALTOR is not really of great benefit for the consumer.

In hot real estate markets in Mexico, such as Cancun and the Riviera Maya, it is common to find waiters, taxi drivers, etc. moonlighting in real estate to try their luck at making a hefty real estate commission. These part timers may not have bad intentions but their lack of experience could result in a costly mistake for you.

There are still some horror stories from buyers of pre-construction developments throughout Mexico. In many of these situations, the buyer bought directly from the developer. Many consumers think that if they buy direct and avoid a broker, they will get a bigger discount. Unfortunately, that is not the case. There is always a commission paid. If there is no broker, then the commission is paid to the in-house sales staff that works directly for the developer and represent his interests. Without your broker, there is no one looking out for your interests. It is especially important in the current market to always have a knowledgeable broker, one who can recommend developments that are safe for investment. There are so many new pre-construction Mexico condo projects on the market which creates the possibility that some of them will not complete construction. Your broker will know the factors that are important in determining the risk involved based on the developers track record, marketability of the project, guarantees to the buyer and market conditions that affect sales.

Since the boom of foreign buyers in the last few years, professional brokers have realized that the way to do business is by transparent transactions. Many have realized that we have to adjust the Mexico purchasing process to one that the foreign buyer understands and gives them the greatest protection.

It is unfortunate for both buyers and professional brokers, that many brokers in Mexico still have not adopted transparent business practices. This not only puts the consumer at risk but stories of fraud and deception always come back to haunt the real estate field. Thankfully, A.M.P.I. continues to push forward to find ways to better protect and educate consumers to ensure the safety of their investments.

There are fewer fraudulent sales every year, but they still happen. Buying real estate is one of the biggest investments you will ever make. To make sure you are working with an A.M.P.I. professional go to http://www.ampi.org/ Don t be afraid to ask for references and do check them.

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Is your Mexico real estate agent really working for you Do they really have your best interests in mind Are you their client or customer

So maybe you are thinking what is the difference

What exactly is the difference Well, the dictionary definition for client is:

a- one that is under the protection of another

b- a person or group that uses the professional advice or services of a lawyer, accountant, advertising agency, architect, etc.

And the definition of customer is:

One that purchases a commodity or service

Mexico Real estate properties are one of the biggest investments you will ever make, so how do you want to be treated Like a client or a customer

Your broker should be one that works to protect you, one that has your best interests at heart and one who gives you the best professional advice. Sure, all of us get paid by commissions, but those of us who will have greatest success in the business are those who put the client first.

A few weekends ago, I ran into a friend while looking at some Cancun beachfront real estate He had just started training for a very well known US real estate franchise with an office in the area. He is young and ambitious, but has little experience in Cancun real estate sales and even much less experience in doing business in Mexico. So he opted to train and work with a major company. He said he felt the training was good, but then he commented something to me that I could not believe. I had mentioned that I would be glad to share information on my listings so he can help me promote them, and that I would be glad to help promote any of his listings. In our professional association, A.M.P.I. (Mexican Association of Real Estate Professionals), this is the ideato share properties, so we may better service our clients.

Well, I was surprised when he told me that in his training, they taught that he should always try to promote their own company s listings. Only as last resort should they promote other broker s listings. And this big company is even a member of our association.

So, how does that affect you Well, if you are working with a broker that only shows you what they have listed, you are certainly missing out on other opportunities that could even be better ones. Your broker should not sell you what they want you to buy. They should help you find what you want.

So getting back to client or customer..don t you want to be a client

Related posts:

1. Buying Preconstruction Condos in the Cancun Real Estate Market
2. Thinking of buying real estate in Mexico How do you choose the right broker
3. Does Bigger Mean Better in the Cancun Real Estate Market

The Playa del Carmen real estate market's AMPI association elects a new board for the coming term of 2009 – 2011.This past May 5th, the AMPI Riviera Maya chapter spent the morning casting and counting votes to choose a new president and committees. AMPI, with over 4,000 members nationwide is represented in all regions of the Mexico real estate market with just over 50 chapters The association has amongst its goals the continuous training of its members, the encouragement of following a guide of regulations and ethics for members and various other objectives

The new board of directors were chosen as follows;

President Wilberth Gutierrez

Secretary Enriqo Dozza

Treasurer Ulla Meihbohm

Committe of Honor and Justice Teresa Gutierrez Thomas Lloyd Jorge Penkoff

Committee of Vigilance Enrique Dominguez Ruben Rios Maricarmen Domani

Thomas Lloyd graduated from Purdue University Krannert School of Management witha degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. With a Mexican Real Estate Certifications and various diplomas he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the companys' web site www.TOPmexicorealestate.com

“Where 9 TOP real estate experts from ALL regions of Mexico come together to share their Tips & Knowledge to help you buy safely !”

Related posts:

1. Playa del Carmen Real Estate Association, AMPI has Party for Further Recruitments
2. Thomas Lloyd Interviews with AMPI National and AMPI Rivier Maya Presidents
3. Playa del Carmen AMPI Association of Realtors

Rita Sheese is the president of the AMPI regional chapter of Cozumel, Mexico. In my conversations with Rita, she has expressed to me “The Cozumel Real Estate market has been moving along without tremendous changes from the year before. Although there is obviously great concern to the US market and their affects on the world economies, and their affects on the Mexico Real Estate market, our Cozumel Island has had a shield of defense being that the majority of the properties here in this region are not mortgaged.” She also went on to explain that she has not seen any wild fires, there might be an increase some what of inventory, but there are no great price reductions thus far. Rita Sheese is the broker owner of Cozumel Capital and has been active in the real estate industry of Cozumel since 1986. She is interviewed quite often by local, regional, and national papers on the activities occurring in her region. Below is a copy of the MEXICO NATIONAL AMPI association humorously interviewing Rita on why Mexican nationals would be interested in buying property on Cozumel.

Rita Sheese, a real estate expert can help answer many of your Cozumel Real Estate Market questions.

-Thomas Lloyd

Rita Sheese is the Cozumel AMPI chapter president. She is also a member of the Cozumel Urban Planning Commission and Foundation for Strategic Planning for the Caribbean Island. She began her career in Property Management and Real Estate Sales since 1985

(512)-879-6546 www.TOPmexicorealestate.com

“Where TOP real estate experts from ALL regions of Mexico come together to share their Tips & Knowledge to help you buy safely !”

Related posts:

1. Interview with Cozumel Real Estate s AMPI President: Rita Sheese
2. Cozumel Cruise Ship Visits Continue Strongly in January 2009
3. Cruise Ships Are Welcomed Back to Cozumel and Effect on Regional Real Estate