Dispersion, lack of regulation and training represent the major obstacles for the sector because there is no state regulation mediating the entry of an agent, Mélido Marte believes.
SANTO DOMINGO.- For about three years, Remax has been carrying out a banking program that has allowed more than 3,000 low-income families to access formal credit for a home, a social action that fills Mélido Marte, Regional Director of the Dominican Republic, with satisfaction.
A study conducted in the Ciudad Juan Bosch housing complex determined that 70% of purchase applications were rejected by the banks because the families did not have verifiable income, which motivated the agency to take steps to support that segment of the population.
“That situation led us to develop a tool in conjunction with a bank where we enabled those families to access financing for affordable housing plots, and we have had the honor of contributing to more than 3,000 families gaining access to formal credit to this day,” the executive revealed in a conversation with El Inmobiliario.
Marte points to this initiative as a great achievement whose results will be seen in the medium and long term and invites the rest of the sector to join the cause, because informal entrepreneurs mostly suffer from the problem, which translates into one of the great weaknesses of the real estate market.
For the experienced broker with 32 years in the real estate industry, the fragmentation, lack of regulation and training represent major obstacles because there is no state regulation governing an agent's entry into the business; which in his opinion leads to such an important investment sometimes falling into the hands of people who, although well-intentioned, lack the necessary skills to ensure things come to fruition.
The Remax representative believes that the issue of regulating the sector has not occurred because politicians are not interested and that it will only happen when international organizations demand it because their investments are affected.
A strong brand
When reviewing the history of the pioneering real estate institution in the country, the consultant recalls the innovation and marketing tools that positioned Remax as a cutting-edge agency, eventually making it a benchmark brand; in addition to the training programs that characterized its beginnings and that still continue to be part of its priorities.
“We call it the real estate gym where we receive weekly training on customer service, how to structure your business, trusts; in addition to the ongoing training we receive from international experts. We have always been aware of our role and that's why we do our part,” he explains.
Remax has evolved and is now a franchise with independent owners. Experience and performance remain its hallmarks, and Marte proudly proclaims this.
“To give you an idea of how experienced and productive one of our agents is, the general average for the entire industry is around 3.5 to 4 years, here it is 13.5 years, we have employees who have been with the company for 40 years,” he says.
| More than 400 brokers, 14 agencies nationwide, 10,000 properties for development and resale, 20,000 agents in Latin America, 130,000 worldwide, and more than 110 countries are the figures displayed by this empire, founded in 1973 in Denver, Colorado in the United States |
What fueled its growth was the high compensation it offers to experienced agents, a key factor that remains almost 50 years later. A Remax agent shares only 10% of their earnings with the brand, Marte explains when asked about the membership fees brokers pay to join the company.
“Our agents operate on a different model; they share only 10% of their production with the entity, and membership is like a club. They have access to technology, manage all the properties, and have a technical team that constantly adds value to the work. We also have brokers specializing in areas such as project sales, industrial buildings, tourism, etc. We are a large network where everyone benefits from everyone else,” Marte emphasizes.
