SANTO DOMINGO- Although it understands that the bill to regulate real estate services and brokerage contracts in the country is a very comprehensive piece, the Association of Real Estate Agents and Companies (AEI) observed three aspects of the proposal currently being considered in the Chamber of Deputies.
President Alberto Bogaert stated that these suggestions, presented by a delegation from the entity that visited the lower house, do not alter the nature of the original in any way, as he affirms that it is a document that meets the needs of the real estate sector.
The legislation was authored by Lourdes Aybar de Serulle. The AEI (State Intelligence Agency) provided support in drafting the bill, working alongside the legislator, Bogaert confirmed.
Before presenting his observations to the Justice Committee of the Chamber of Deputies, which is responsible for receiving the observations, Bogaert praised the role that real estate brokers play in societies, although he acknowledged that in the Dominican Republic there is a “disorder in real estate sales”.
“Where it talks about the general provisions, article 3 should state to promote the development of real estate brokerage activities of associations duly registered with the corresponding state bodies that in their actions have regular training, a code of ethics and have a minimum of five years operating as an association, we believe that an association that wishes to be part of it must have at least five years of operation,” requested the entity that represents real estate agencies and brokers.
The second amendment proposed by the AEI refers to the chapter on transitional provisions, which states that “members who, as of the effective date of this law, are affiliated with a legally constituted and registered chamber or association of real estate brokers with more than one year of operation will have their knowledge validated and will be exempt from the obligation to complete any training and/or evaluation to obtain a license.” The institution believes this should be changed to those who have been operating for five years.
Finally, he requests a change from 500 to 120 hours in the article that states a person must have 500 hours of study to be eligible for the license. “We are asking for 120 because we have the experience to know what is needed and we know that this time is sufficient for a person to train and obtain their license,” says Bogaert, who was accompanied by Claudia Castillo, Cristina Alba, and Alenny Garabito.
The president of the AEI understands that the reintroduction of the law, which was previously brought before the legislative body, is timely considering the current growth of the construction industry in the country.
“Obviously the justice commission, which has been reviewing the law, convenes the different actors linked to it, and they review it and issue their considerations or observations.”.
Bogaert understands that the real estate agent is a globally recognized figure and believes that, given the construction boom and the importance of the real estate agent, it is necessary to regulate the brokerage industry and establish clear rules so that people can enter the field legally. “This will bring many benefits to the sector, and we are not just those who sell and build; it is a complete industry with a significant contribution to the Gross Domestic Product of the economy,” he stated.
