SANTO DOMINGO - Associations that promote the regulation of real estate agents in the country met yesterday with senators to continue strengthening alliances in anticipation of the approval of the bill currently before the National Congress, which would establish the rules for the practice of real estate in the Dominican Republic.
The meeting, held in the Senate was attended by representatives of the Ministry of Housing, Habitat and Buildings (Mivhed), the Dominican Association of Housing Builders and Promoters (Acoprovi) and the Association of Real Estate Agents and Companies (AEI).
Alberto Bogaert, president of the AEI, told El Inmobiliario that one of the key points of the meeting was to reach a consensus that the Ministry of Housing, Urban Development and Housing (MIVHED), and not the Ministry of Industry and Commerce, should be the entity in charge of leading real estate issues in the Dominican Republic.
“It has been decided that the Ministry of Housing will be the institution in charge of the real estate sector. It remains for them to meet and take the next steps internally,” Bogaert stated.
The draft law "Regulating Real Estate Services and Brokerage Contracts," submitted by Representative Braulio Espinal and currently being studied by a special commission, would assign the responsibility of governing the mandate of the legislative piece to the Industry and Commerce , should it be approved.
Senators Omar Fernández, Rafael Duluc (Cholitín), Alexis Victoria Yeb, Aneudy Ortiz and Ramón Rogelio Genao were present at the meeting; Jaime González represented Acoprovi.
Bogaert emphasized that the meeting was used to make it clear that the sector has reached a broad consensus on the need for the law to be passed as soon as possible.
“We took the opportunity to demonstrate to the Senate and the legislators that we have consensus, that all sectors agree that this law should be approved as soon as possible,” he said.
The president of the AEI remains hopeful that the project will be approved. “It’s just a matter of time. I understand that this year, given the interest on our part, but even more so on the part of the legislators, I think we can celebrate this approval very soon,” he stated.
The country is experiencing exponential growth in the number of professionals and individuals entering the real estate market without possessing the knowledge or training to practice as a real estate agent. However, the nation lacks a legal framework to regulate this situation.
Photo: External source.
