How to become a Real Estate Agent in Mexico

Updated: Apr 6

It's been nearly 6 months since we have moved to Mexico and I am proud to announce that I have just become a local Mexican Real Estate Agent! I've been working professionally with Real Estate for 10 years. I also hold over 15 years of experience in Design and Building.


The past 6 months that we have spent waiting for our van has been a time to reconnect, focus, and dream of our future. I decided to tie all of my passions together by becoming a Real Estate Agent in Mexico!


Over the last 6 months, I have travelled all over Mexico, learning Spanish, visiting popular destinations, creating Real Estate tours and capturing architecture. I am excited to see what the future holds and am excited to introduce...


Serendipia Real Estate Mexico!



INTRODUCING SERENDIPIA REAL ESTATE MEXICO!



Becoming a real estate agent in Mexico presents a few hurdles for people who aren't citizens of the country, but it isn't a task that's close to impossible. The biggest obstacle is getting a job offer from a real estate company. To do that, you need at least a basic knowledge of the local real estate market. Only after receiving a written job offer can a work visa application be filed with the Mexican consulate.


Choose a regional market to work in, then contact all the major real estate agencies in the area, inform them of your desire to work as a real estate agent in the region, and ask if they would be willing to have you work with them. Once you receive a positive response from at least one company, ask for a job offer letter from the owner, which is required when filing for a business visa.


Contact the nearest Mexican consulate and obtain a Business Visa FM-3 request form and the associated paperwork. The form is required of non-Mexican nationals requesting to work in the country. A list of addresses and other contact information for all consulates in the United States and Canada is on the Mexico Online travel website (mexicoonline.com).


Submit a Business Visa FM-3 request, along with any other required documentation to the Mexican consulate general. Items that must be included as part of the request are the written job offer, completed visa request form and a valid U.S. passport and a letter outlining the reason for the request, and requested length of stay. Other items that could be requested by individual consulates are a second picture ID, resume or copy of the real estate company's business license.


Report to work in Mexico after the consulate general approves the visa application. Applications are generally approved within 10 working days of filing, but the time can vary. Unlike in the United States, no license is required to work as a real estate agent in Mexico; however, a trade organization, the Mexican Association of Realtors, or AMPI, helps real estate professionals in areas such as training.

Warning

A $96 application fee is required of all visa applicants and must be paid in cash at the consulate. No checks, credit cards or money orders are accepted.


You may not know that selling real estate in Mexico, unlike the U.S., Canada and most other developed countries, does not require licensing and relies more on voluntary compliance with industry standards. But is real estate licensing in Mexico needed? The Association of Mexican Real Estate Professionals (AMPI) is the primary real estate association in the country and an important goal for AMPI is to bring an increased level of professionalism to property sales in the country. The organization has established a voluntary code of laws and ethics for member agents to follow and is moving towards certification of all members.


IF THESE OPTIONS DON'T WORK FOR YOU, PLEASE DON'T BE DISAPPOINTED. CONTACT ME BELOW FOR INFORMATION ON OTHER OPPORTUNITIES.




Here are some of the existing rules and regulations you should be aware of if you are considering purchasing or selling property in Mexico:

Government Regulation A number of federal laws currently oversee real estate agents in Mexico. These include real estate services per state, consumer protection, seller protection and anti-money laundering. Some states have developed licensing or registration requirements for those working in real estate-related activities: Sonora, Coahuila, Tabasco, Baja California, San Luis Potosi, Colima, Campeche, Morelos, Veracruz, Mexico, Querétaro, Quintana Roo, Guanajuato, Nuevo Leon. Mexico City is also included. Jalisco and Nayarit are working on licensing.

State or Federal Licensing Natural resources of the land, also referred to as mineral rights and water, cannot be transferred to a buyer. Mexico retains all rights to these and can exercise them at any time without compensation to the property owner. In the restricted zones, foreigners must have a trust to own a residential property.

Contracts All real estate sales must be approved by a notary public before they are valid and can be processed by a lending institution or governmental office. After the notary reviews the title deed, it is filed at the Public Registrar for Property, and the deal is closed. Due to the lack of professional licensing and governance of the sale of real property, fraud is a major concern for both the AMPI and buyers alike.

Federal Public Registry The sale of both residential and commercial property must be recorded with the Federal Public Property Registry office. Clear title and ownership is not legally recognized until all paperwork is filed with this governmental agency. All information becomes public record after filing. Certificates of encumbrances or liens are also filed at the Federal Public Property Register office, and are public record as well.

Agent Responsibility No errors and omissions insurance and no recovery fund for real estate transactions that go bad exist in Mexico. At this time, anyone can call himself or herself a real estate agent or real estate broker.

Listing Agreements Listing agreements are created by the broker/agent/lawyer and specific concepts or paragraphs are required to be included in any exclusive listing agreements. They are not reviewed by any government agency. The sales contracts are developed in the same manner.


Media Listing photography and videography release rights and agreements are created by the broker/agent. Specific concepts, locations, and areas may be required in any exclusive listing agreements. They are not reviewed by any government agency. The sales contracts are developed in the same manner. Professional Services are recommended by authorities to prevent scams.

This article is based upon legal opinions, current practices and my personal experiences. I recommend that each potential buyer or seller conduct his/her own due diligence and review.




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