The demand to stop improvisation and unfair practices is becoming urgent within the system. Regulation would curb the disproportionate influx of "brokers," who pose a threat to the investments of families, couples, and individuals who entrust their savings to inexperienced hands when purchasing a home or property.
As a major pillar of the economy, the real estate industry offers numerous opportunities to make money. It's no coincidence that when the sector is discussed, the general collective reaction is that "you can make money there," as if it were a magical expression requiring no real effort.
The construction sector is growing, as evidenced by official indicators that place it as the fastest-growing segment in the first seven months of this year. This positive news must be accompanied by a response from the stakeholders involved.
Real estate agents are a fundamental support for this sector, acting as intermediaries between clients and builders, and without whom its success would not be possible. Therefore, alongside this growth, it is necessary to standardize this important link in the chain.
The demand to stop improvisation and unfair practices is becoming urgent within the system. Regulation would curb the disproportionate influx of "brokers," who pose a threat to the investments of families, couples, and individuals who entrust their savings to inexperienced hands when purchasing a home or property.
Pioneers, members, and experts all agree on the significant weakness that the easy entry of unprepared individuals represents for the sector. The government, as the guarantor of public policies, has an obligation to support the private sector, which manages the sector's substantial capital.
But no initiative will prosper until greater unity is achieved in an industry that appears scattered, each pulling in its own direction, without strong unions to push for the decisions needed to strengthen its foundations.
We are aware of the efforts undertaken by the Association of Real Estate Companies and Agencies (AEI), which plays a commendable role within the sector, but a united effort is needed to achieve these goals. The certification of real estate agents and the creation of an institute to train aspiring agents are tasks that should have been completed very early on.
A growing Dominican diaspora has led to an increase in remittances in recent times. Many intend to return to their country to invest; however, I know of cases where investors have held back for fear of being scammed or not receiving adequate advice to safeguard their capital. This measure would support and protect the important tourism sector, a key component of the Dominican economy.
The efforts deployed in response to the recently created Housing Ministry Law must not falter and must continue until the dream of having a sector as strong as the economic resources it manages becomes a reality.
