Mexican Real Estate Association Advocates Changes to Raise Industry Professionalism
Did you know that between 1.5 - 2 million real estate deals are transacted in Mexico annually?
Did you know that a third of these transactions result in problems for the sellers or buyers?
According to Adán Larracilla Márquez, president of AMPI, the Mexican Association of Real Estate Professionals, as many as 85% of working real estate agents in Mexico operate without a license in an “informal” market. That means that only 15% of real estate agents have been certified with AMPI, and transactions carried out by such agents have much less potential for problems than the “informal” deals.
The real estate sector in Mexico’s, including the construction industry and financial credits for housing, represent 7% of GDP, and agents’ professionalism and ethical behavior are now a priority for AMPI.
AMPI will be using the Transnational Referral Certification (TRC) courses to train agents. The TRC program is designed to provide agents with information on how to conduct real estate deals across borders, but also gives information on professional practices for all domestic transactions.
AMPI is also opening debates with Mexican state legislators to support the introduction of Mexican state real estate laws and eliminate bad practices.