SANTO DOMINGO.- The Special Commission appointed to study the bill that seeks to regulate the practice of real estate agents in the Dominican Republic does not want to rush the initiative, but rather take the necessary time to carefully analyze each of the considerations and articles that will ultimately make up the legislation.
The project matrix that is being studied by several deputies, and to which El Inmobiliario had access, includes everything from the initial proposal, to the observations made by the Technical Office of Legislative Review (Ofitrel), as well as the recommendations provided by the Association of Real Estate Agents and Companies (AEI) and those of the Dominican Association of Housing Builders and Promoters (ACOPROVI).
“We have embarked on a project not to just throw something together, but we want to do something right that turns out well, that everyone can understand, and that the commission chooses what they understand from among the considerations and articles that should be in that law,” declared Braulio Espinal, who heads the commission.
He reiterated that they are dedicated to understanding and studying the content of the proposal and that, for this reason, they have taken more time, but that they expect to deliver the report by the end of this month or the beginning of December.
“We intend for things to be done correctly. We are taking into account what the various sectors have proposed. The commission is the one that ultimately decides, through a vote, what stays, what goes, and what is modified.”.
He explained that the ultimate goal is to have a viable instrument for the sector and society.
Espinal acknowledged the interest real estate agents have in being regulated and audited. “I congratulate them because it’s not very common for a professional association to want to be regulated and audited, and that’s important.”.
The commission
In addition to Espinal, it is made up of the deputies Abelardo Antonio Rutinel, Aldoneris Rafael Adón Duarte, Aquiles Leonel Ledesma Alcántara, Dellys Dumidia Féliz Rodríguez, Indhira De Jesús de Morla, José Alberto Jiménez Santos, Liz Mieses Díaz, Llaniris del Carmen Espinal Cabrera, Miguel Alberto Bogaert Marra, Pedro Antonio Martínez Moreta and Rafael Augusto Castillo Casado.
New name
In the latest proposal submitted to the National Congress, the project changes its name and becomes "Law that regulates real estate services and the brokerage contract.".
The proposal seeks to regulate, supervise, develop and promote an orderly, efficient and transparent real estate brokerage market, with the aim of protecting the rights and interests of both property buyers and real estate sellers and developers.
Similarly, the aim is to preserve confidence in the Dominican real estate market by establishing conditions that ensure information on the promotion of real estate transactions is truthful, sufficient, and timely, in order to contribute to the country's economic and social development.
