Regulation Essential for Reliable Real Estate Agents

In the highly competitive real estate market of Mérida, Yucatán, there is an urgent need for professional agents and companies that offer reliability and uphold industry standards. Iván Cervera López, president of the Mérida section of the Mexican Association of Real Estate Professionals (AMPI), stresses the importance of engaging with formally certified real estate professionals to prevent fraud. A trustworthy agent should have an in-depth understanding of the city's various areas, property types, market prices, and the legal and fiscal aspects of property sales. It's also crucial that they are officially registered and able to invoice their services.

"Being part of a formal business is essential. Operating without registration is not only illegal, but it also reflects a lack of professionalism," Cervera López asserts. A professional aims for long-term market presence, and their reputation serves as their best credential.

The National Council for Standardization and Certification of Labor Competencies (Conocer), backed by the SEP, provides real estate certifications. However, Cervera López notes that this certification doesn't always ensure professionalism, as it can sometimes be granted without a thorough assessment of knowledge. "Anyone who pays can obtain the certification, without necessarily having their actual skills validated," he explains. AMPI's process is more stringent, involving rigorous training and evaluations to ensure adherence to industry standards.

Cervera López highlights the need for continuous professional development. Over his 18-year career, he has renewed his certification multiple times. Presently, a minimum of 50 training hours is required to ensure advisors are up-to-date and to prevent unqualified individuals from posing as professionals, thereby risking clients' assets.

In 2023, a reform in real estate laws led to the establishment of a register of real estate advisors in Yucatán, akin to the existing register for appraisers and experts. This initiative aims to formalize and regulate professional practice, which had previously lagged behind other regions in the country. Although the State Register of Real Estate Advisors was officially created in 2024, its full implementation is still underway.

The absence of sufficient regulation allows inexperienced individuals to jeopardize buyers and sellers with substandard transactions, Cervera López warns. The register is designed to set standards for real estate practice, but its effective implementation is ongoing. "We need this register to serve as a genuine control mechanism, not just a bureaucratic process."

While these regulations are being fully implemented, the most effective safeguard against fraud is information. Verifying an advisor's certification and experience is vital for a secure and dependable transaction. Cervera López emphasizes that the introduction of a regulation is critical for the law's operation. This regulation should specify key elements such as the curriculum for the 50 training hours and determine who is authorized to deliver these courses. Despite the authorities' willingness to cooperate, there are still unresolved issues that have delayed the regulation process.