Real Estate Agents - Realtors - in Mexico

Almost every town and city in Mexico has a selection of Realty Professionals (Real Estate Agents); from the small, local independent operator, to the national (and sometimes multi-national) franchise agencies.

Real Estate Agencies offer a variety of services and you should find most of them to be very efficient and professional.

This guide is designed to help you understand the real etate agents' community in Mexico and give you tips and advice for finding an ideal realtor to help you buy, sell or rent real estate in Mexico.

The guide also contains links to sponsoring Estate Agents in Mexico who offer a range of professional realty services in various locations across Mexico.

• Choosing a Real Estate Agent in Mexico
• Renting a Property in Mexico Using an Estate Estate Agent
• Buying Property in Mexico Using an Estate Agent
• Selling a Property in Mexico Using an Estate Agent

Choosing a Real Estate Agent in Mexico

Your estate agent should be local to the area you're searching in. Don't assume that big chains are better than small independent firms or freelance agents. It's the individual person, more than the firm they work with, that makes the difference between a good and an average agent (see guide to finding an agent, below).

Go by your initial contact with them: how promptly do they respond to your enquiries, for example, and to what extent did they answer your questions?...

Most big-name Estate Agents are franchises; they are local companies run independently as small or medium sized businesses.

It is the same in Mexico as in the US, Europe etc. and is done purposefully as it's important to have local people and local knowledge involved to provide the best service.

If you are visiting Mexico, an ideal way to find a good Estate Agent locally is by word of mouth: ask at your hotel, in local restaurants and cafes or, if you've hired a lawyer, ask him or her if he has a list of agents he/she has worked with in the recent past and knows to be of good caliber. If you have friends in the area, ask them too.

The Internet is an ideal medium for contacting agents, and all of the good ones have decent web sites that introduce their services, spell out their experience and list some or all of the properties they are currently acting for.

Whichever route you choose, you're looking for a firm or person that is well known in the community, staffed by people who have lived there a good while and know the area and its communities well; people who can give you informed comment and insight about the locale's areas and the properties in them available to rent and/or buy.

The practice of "exclusivity" in property sales and rentals isn't always practiced in Mexico. Several estate agents may have the same properties for rent or sale, possibly at different prices. Some estate agents specialize in certain areas or property types: the advice is: shop around - and there's no better starting place than the Internet to do that!

NB: Although the Internet is an excellent way to scan the market and find an agent to act for you and communicate with the agent/s to arrange appointments to see potential properties before you arrive in Mexico, you should always go to the place in person before you agree to rent (and especially) before you agree to buy!

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Renting a Property in Mexico Using an Estate Agent

If you are looking for a rental, Estate Agents will have a list of rental properties available by zone, type price and size.

If they don't have something on the books you're looking for the good ones will advertise and/or use their extensive network of contacts to find something that's right for you. Put them to the test.

When you are looking for an agent to find a rental property in Mexico for you, use the same criteria as you would for buying and selling (see sections below).

Remember, also, that if you are planning to buy a property in the longer term, the same agent may be an invaluable contact to help you accomplish a successful real estate purchase in Mexico.

Also: See the next sections in this guide and also read the accompanying guide about Renting Property in Mexico on Mexperience for more detailed information about renting in Mexico.

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Buying Property in Mexico Using an Estate Agent

Buying property in Mexico, as in any country, is a major investment which requires patience, energy, planning and professional help.

The estate agent is part of the professional team you may want to call upon when you're looking for a property to buy.

Mexico has an excellent range of estate agents in every town and city. All of the major franchises are represented (e.g. Century21, REMAX, Coldwell Banker) as well as number of regional and local independent agents.

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

The agent should, ideally, have several years of experience living and working in the area. They should have an in-depth understanding of the locality and its neighborhoods.

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 should feel comfortable with the person who is helping you to find your property. A close working relationship build on trust and mutual understanding is essential if you are going to find the property (or properties) that are right for you.

A good realty agent can be the key which helps you to unlock the perfect home and investment in Mexican property. Finding the right agent can prove to be a long term connection that will help you to find more good properties (if that is your plan) and even to sell your property later on.

It is the person, more so than the agent, that will make all of the difference. Every estate agency in Mexico has a mix of talent: individuals with different strengths and experience. Therefore, it is not so much the agency (office), but instead the individual from an agency who you engage with.

Sometimes you will have no choice about the agent you deal with, especially if you are interested in a specific property (or group of properties) which are tied to a specific agent. However, when you have no specific properties in mind, a good agent with an intimate knowledge of the local area and a highly professional approach to real estate will prove one of the most invaluable contacts you will ever make on your journey towards property ownership in Mexico.

Also: Read the guide about Buying and Selling Property in Mexico on Mexperience for more information.

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Selling a Property in Mexico Using an Estate Agent

If you already have a property in Mexico, then choose several estate agents to market your property for you. Negotiate the best commission rates possible based on local market conditions.

Estate Agent Fees in Mexico

Estate agents in Mexico charge fees of between 4% and 10% to sell your property. Shop around for the best deal.

AMPI

AMPI is the acronym for Asociacion Mexicana de Profesionales Inmobiliarios -- The Mexican trade body for Estate Agents which also sets out a Code of Practice for its members. Web: http://www.ampi.org/

The body 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.

AMPI has agreements with the NAR -- National Association of Realtors, a principal trade body for real estate professionals in the USA -- to share contacts and best practice on training. Web: http://www.realtor.org/

Not every estate agent in Mexico is a member of AMPI, and it is not a federal legal requirement for agents to be a member or be licensed; however the state of Sonora, bordering Arizona, is the first state in Mexico to require licensing for people selling real estate and others are likely to follow suit in the future.

Tips for Finding a Good Realty Agent in Mexico

• When you are seeking an agent to sell your property in Mexico, shop around and find out what each agent is charging in commissions and ask them what services they offer for their fees
• Look for estate agents who have good people networks locally and nationally. Make sure your property will be on their internet site - try to get it featured. This will also give your property exposure to the international buyers market too. More and more foreigners are beginning to buy property in Mexico so make sure that your property is one they'll see
• Gauge their service levels by paying close attention to the initial contact response you get. How quickly do they respond? What what your first impression of their agent or representative?
• Ask about how your property will be actively promoted. Check out their web site and look at what the site looks and feels like. How many visitors do they get? What is the profile of visitors and how does that profile match your property its likely purchasers?
• Will your contract be exclusive or non-exclusive? Exclusive contracts will usually carry lower commission rates but may limit your exposure. If you enter into an exclusive contract, be sure to set a reasonable time limit on the exclusivity
• Regardless of whether the contract is exclusive or non-exclusive reasonable time limits should be set on sales contracts with real estate agents. In very active markets, for example, big cities and affluent tourist towns this time limit could be as short as three months. In smaller or more niche markets, for example smaller towns, islands, seasonal tourist spots the sales cycle can take considerably longer so you should expect to negotiate an exclusivity arrangement to allow for this, say, for 6 to 12 months
• Be realistic with your pricing. Don't just go for the agent who offers you the "highest valuation". Agents sometimes over-assess a property's value to build the seller's confidence and gain a representation contract. If a property won't sell because of price, that same agent will be the first to advise you to lower the asking price.

Also: Read the guide about Buying and Selling Property in Mexico on Mexperience for more information.

Notice

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