The entities demand to be included in order to stop the dispersion and improvisation that prevails in the industry and that affects the sector
SANTO DOMINGO - The AEI (Association of Real Estate Agents and Companies) said it does not understand the reasons why real estate agents were excluded from the Law that created the Ministry of Housing, Habitat and Buildings (MIVHED), given that they were included in the preliminary draft submitted to the National Congress.
“That’s why we understand that the law is incomplete because it doesn’t include one of the main pillars of the construction sector, real estate agents, a figure recognized worldwide,” explained Alberto Bogaert, president of the AEI, in an interview with El Inmobiliario.
He argued that both in the preliminary draft submitted by the Dominican Association of Housing Builders and Promoters (ACOPROVI), and in the one sent by the Executive Branch, the corridors were present, however, in the Law approved by the senators and deputies they are absent.
According to Bogaert, surveys conducted by entities linked to the real estate market indicate that there are between 2,000 and 3,000 agents in the country who are dedicated to real estate without any kind of regulation, so they had placed their hopes on organizing the sector through the initiative, which is waiting to be enacted by the Executive Branch.
“One of the main functions of MIVHED is to regulate different areas related to the housing sector; there are urban managers, who are a new figure, structural engineers, builders, so we don't understand why we are not included,” questioned the president of the AEI.
He stated that the union he represents has longed for years to organize real estate developers, given that construction represents one of the most dynamic sectors of the economy and this law was the opportunity to realize their normalization plans.
The AEI representative cited the case of the United States, where housing brokers have to study for six months, take an exam and wait for a license to practice, while in the country a person with just a cell phone and a business card acts as part of the profession, because there is no body that approves or disapproves their qualification.
“We want to be like insurance brokers who, to apply, have to go to the Superintendency of Insurance, fill out some requirements, take an exam, pay a bond, and then receive the license,” he said.
Bogaert pointed out, however, that despite this, the country has trained, up-to-date, and well-positioned real estate advisors who play a crucial role in helping investors make the best decisions and secure their capital.
He mentioned specialization as a useful tool, one that has grown in recent years and allows for a better focus and more professional service. As a result, the country has developers specializing in tourism, construction, property management, commerce, and other sectors.
Masterbrokers
A new and booming trend in the country is that of Masterbrokers, where several real estate agencies join forces to acquire projects and sell them exclusively. Bogaert explained that other companies are joining these, operating under the umbrella of the initial ones, which has created dynamism in the sector because it frees developers from having to handle sales themselves.
More training
The AEI is committed to providing ongoing educational programs to support its members in training and knowledge updates. It currently has 800 members and approximately 140 member companies; its courses are designed to equip agents with the essential tools to improve their skills and deliver high-quality service to their clients.
Despite this, the president of the AEI believes that the sector as a whole demands more training. “So far this year we have conducted three certification programs with 400 students. This is one of our main functions, because an agent who is not up-to-date cannot offer quality service; if you are not a good advisor, you cannot help in a successful business,” he emphasized.
