SANTO DOMINGO - The Special Commission that studied the draft law on real estate intermediation in the Dominican Republic issued a positive report on the bill that seeks to regulate the practice of agents dedicated to real estate.
This was reported by Braulio Espinal, president of the commission, after noting that it is now up to the coordinating commission to place the project on the congressional agenda, so that it can be presented to the Chamber of Deputies.
The project, whose latest proposal was known as “Law that regulates real estate services and the brokerage contract”, was discussed in addition to Espinal, by the deputies Abelardo Antonio Rutinel, Aldoneris Rafael Adón Duarte, Aquiles Leonel Ledesma Alcántara, Dellys Dumidia Féliz Rodríguez.
Also part of the group were 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.
Espinal told El Inmobiliario that the commission submitted its report during the first week of December.
“The committee issued its positive report on the bill in question during the first week of December. It is now up to the coordinating committee to place it on the agenda,” the congressman explained.
During the review of the bill, Braulio Espinal stated that they dedicated themselves to understanding and studying the content of the proposal and that they had taken more time to deliver a document that all those involved could understand.
“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,” Espinal declared in November of last year.
“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 said.
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.
It is expected that the project will be reviewed by the Lower House during the current legislative session.
