“If ninety days elapse from the expiration date without the license being renewed, the applicant must submit a sworn statement declaring that they have not participated during that period in any transaction as a broker, agent, sales assistant, or real estate company as defined by law. If they have participated as such, their permit will not be renewed until one year after it has expired.”.
SANTO DOMINGO – Licenses for brokers, agents, sales assistants, real estate companies, and franchisees will expire every two years, requiring them to submit renewal documents within thirty days of their expiration. This is established in the draft law regulating real estate services and brokerage contracts in the country, which is currently under consideration in the National Congress.
“Any renewal applicant who has submitted their application along with the necessary supporting documents before thirty days from the expiration of their license will have it automatically extended for the same period,” states the document authored by Deputy Lourdes Aybar de Serulle.
Article 22 entrusts the Ministry of Industry, Commerce and SMEs with the responsibility for the license change, through a form prepared for that purpose, accompanied by the documents defined for such purposes.
“If ninety days elapse from the expiration date without the license being renewed, the applicant must submit a sworn statement declaring that they have not participated during that period in any transaction as a broker, agent, sales assistant, or real estate company as defined by this law. If they have participated as such, their license will not be renewed until one year after its expiration.”.
After one year has passed without the license being renewed, the draft law explains, the Ministry of Industry, Commerce and SMEs will notify you, by means of a bailiff's act or certified letter, that if you do not request its renewal within fifteen days following the notification, your license will be suspended and, if you are interested, you must start the process as a new applicant, having to comply with all the requirements demanded for its issuance.
License suspension
The project, which is currently being reviewed by the various entities linked to the real estate sector, stipulates that the Ministry of Industry, Commerce and SMEs may suspend the license it grants and also impose the sanctions established by this law and the regulations, "so that the administrative procedure of the case will be lifted guaranteeing the right to defense.".
The document states that anyone who commits a serious offense against the Law or its regulations, who resigns their license, or who fails to practice the profession for five years or more will lose their status as an authorized real estate broker or agent. “The Ministry of Industry, Commerce, and SMEs may suspend the license it grants, for periods of one to twelve months, to any broker or agent who fails to fulfill their duties or breaches, in any way, the good faith or loyalty due. In case of recidivism, the license may be suspended for up to five years,” the document emphasizes.
