He said that “if agents don’t raise their standards, scams will continue to grow.”.
SANTO DOMINGO – “Real estate scams don’t distinguish between inexperienced buyers and experienced agents,” says lawyer Luz del Alba Rodríguez, adding that the worst strategy is to believe that “it won’t happen to me.”
She states that “we must learn to identify red flags before it’s too late.” The real estate law expert advises real estate agents to be more than intermediaries and to be guardians of transparency.
“An agent who doesn’t verify credentials, doesn’t document agreements, a master real estate agent who doesn’t do their due diligence, who doesn’t educate their client is a risk in itself, because commissions are earned with knowledge, not by referral,” the professional points out.
When asked by El Inmobiliario about the role that real estate agents should play in transactions, in light of the Novasco Real Estate case, through which the Public Ministry arrested four people, whom they accuse of allegedly affecting hundreds of people with the sale of fake properties, the surveyor also maintained that real estate agents are responsible for balancing emotion and reality.
“Being the balance between emotion and reality. A client wants their dream home, but a good agent guides them to the best legal and financial decision. An agent who only seeks to close a sale without guaranteeing legal security is not a professional, they are simply a salesperson,” stated the founder and director of Grupo Diure SRL, a law firm specializing in real estate matters.
Luz del Alba Rodríguez. (EXTERNAL SOURCE).
For Luz del Alba Rodríguez, "real estate scams are not horror stories, they are realities that can be avoided," after indicating that in such a competitive sector the difference between real estate agents lies in the legal security they can offer the client.
Regarding the changes experienced in the real estate market in recent years, he points out that before, sales were based solely on location and price. Today, however, “a buyer asks about the property's history, wants to verify the area or reconsider its features, legal risks, and even whether the agent has a good reputation.”.
The specialist assures that irregularities in the real estate sector are combated with education and structure, which is what the program she created on the Master Real Estate Agent seeks, whose fourth edition will be held on July 5 of this year, aimed at all actors in the sector.
“No one should sell real estate without understanding what a contract, a title, or a lien entails,” Rodríguez states. He adds that “if agents don’t raise their standards, scams will continue to grow. And the worst part: not only do clients lose out, but the entire sector loses credibility.”.
He concluded by stating that “in real estate, you either have information or you are the victim. There is no middle ground.”.
