BajaNomad - Baja Real Estate Agents

Baja Real Estate Agents

phyllismowen - 2-14-2009 at 02:27 PM

Does anyone know of a good realitor in the Mulege area? We have a house and a few waterfront lots that we are interested in selling. Please reply to elgringo@leatherstuff.com

Pescador - 2-14-2009 at 03:40 PM

I don't know about good but Pelican Reef seems to be the biggest player in the area and they certainly have more signs out than anybody else.

Dave - 2-14-2009 at 04:56 PM

Quote:

Originally posted by phyllismowen
Does anyone know of a good realitor in the Mulege area? We have a house and a few waterfront lots that we are interested in selling. Please reply to elgringo@leatherstuff.com

How about the realtor who originally sold the properties?

Research,research and more!!

Bronco - 2-14-2009 at 05:24 PM

Learn the words Notario, abagodo ,and start state side. You will get the royal shaft if you don't take the time and learn about all the good retirees that have walked away- with help from the militar, as in Punta Banda! Do not depend on the local, smiley agent that is your best friend. If this is a rush than, take your time. In real estate you have no friends, you have business associates, and trust me they come 1st.

djh - 2-14-2009 at 06:20 PM

Quote:

Have you considered advertizing your house and lots right here on Nomads ~ on the "Real Estate Available" board?

That's how I found my lot in Loreto a few years ago... Save yourself paying commissions and fees ~ deal direct with a buyer, maybe make some new friends...

"Realtor" in Baja can mean many things... From someone who (although not "licensed" in Baja) is informed and experiences and fair . . . to . . . someone who makes a sign and calls themself a "realtor" with little to no experience, knowledge, and possible principles...

The realtor is going to send you to a Notario Publico for all of the real work, anyway...

Something to consider.

I know a good realtor who is licensed in the US and very principled, experienced, and knowledgeagle, but that might not help you much in Mulege....

djh

gnukid - 2-14-2009 at 10:19 PM

skip the realtor

CaboRon - 2-15-2009 at 05:23 AM

ditto

abreojos - 2-15-2009 at 07:51 AM

Some people need realtors, some don't. Personally, I don't like many of them either and I am certified as one in Mexico. But like a lawyer and and undertaker, they are nice to have around when you need them. Biggest rip offs here are with money that never got put into escrow and proper title search. Things you would be sure to do in the states, so most of the people who have been burned here did things here they wouldn't do in the states. When you play with fire your asking to be burned.

[Edited on 2-15-2009 by abreojos]

k-rico - 2-15-2009 at 08:16 AM

I used a real estate agent to find a tenant for a condo I own in TJ. He was able to find one in a month after I advertised unsuccessfully for 4 months. I gave him one month's rent as a fee. He advertised in San Diego and found a Mexican-American who wanted to move back to TJ. She got a 3 bdrm, 2 bath, secure, 2nd story, modern condo for less than a San Diego studio apartment.

Why not use an agent in addition to other means? Many buyers/ renters go to agents when looking for real estate.

gnukid - 2-15-2009 at 08:44 AM

Here's a perspective from BCS:

Here people do not want to speak to agents, they refuse, they go behind them, homes with a fancy sign are ignored while trato directos are being sold. I think there is a terrific lashback against the agents for so many failures and their inherent laziness. Now of course agents are increasingly desperate which is really not in anyone's best interests.

Let's be honest, in Mexico RE agency doesn't mean anything, there is no legal certification that requires them to be legally responsible for anything. You will still need all the other things, notaria, fidi, valuation etc... and the agent is unlikely to help in fact most cause more confusion, delay, and they basically screw-up the deal while thinking they should walk away with some huge percentage for doing zero.

I mentioned here I visited many notarias to meet them and have a nice relationship before I do more deals. I found through interviews that agents are passing very few deals successfully and most, practically all are person to person with no agent.

I think this is true for a variety of reasons but most importantly, the system in Mexico is not designed to require or benefit from RE agency. Who wants to add %10 on top of the deal to give it to some idiot?

I personally know many agents, they constantly surprise me by their lack of knowledge of the process, laziness and lack of passion to complete the sale in a effective manner. Again, I know many many of the so-called top agents and if you ask them simple questions they are missing a great deal of the key info and most will not actually run around and help you as one would expect.

Skip it for now. Place your own advertisement definitely say trato directo even if you will have an agent help because customers are savvy now and do not want anything to do with RE agents.

All of this is actually quite exciting, there are so many homes and land for sale, so many opportunities to meet one on one and make a nice deal and work together. I am seeing homes and land sold for as little as a $1000, tons of opportunities.

Gringos need to be personally responsible, smart, involved and patient and get out there and meet people and forget about preconceived notions from the USA about needing an agent-it's not happening here at all.

longlegsinlapaz - 2-15-2009 at 09:47 AM

Not everyone has the time or the knowledge, nor is comfortable with learning the local process to market/show/sell their own property.

The sale of my first bayfront casa in La Paz was done through a realtor, it took a full year to find a buyer. I did get my full asking price, but I also had to pay about $17K USD in commission (then 6%).

With my second property, also new construction on the bay, I gave myself 6 months to attempt to find a buyer on my own, a friend created a nice looking web page for me & I posted the URL only on free classified ad Mexico/Baja sites; including Baja Nomad. Within 4 months, I accepted $15K USD less than my asking price & I saved between $29-$36K USD in commission (local commission at that time was 10%, but the realtor I would have used typically charges 2% less than other companies).

It IS possible to list & find a buyer privately & then go to a Notario to have the sales contract drawn up & the rest of the process completed legally. However, but unless the seller lives here full time & is willing to do the research necessary to make them comfortable in trying to go it alone, it can be totally overwhelming. Also, we aren't all created financially equal!

Some have the financial resources to pay through the nose for someone else to handle the entire process; some don't.

Mexican sellers seem to avoid realtors; it's much more of a gringo requirement! But the market here is totally different than it is in the states & there is virtually no such thing as researching fair market value of comparable sales. It's much more of a "whatever the market will bear" environment! I've only dealt with ONE realtor here who in my personal experience was totally ethical, all others with many big name companies could have written the handbook unethical business tactics! :no:

I have another personal experience tale....at 4 PM the original asking price on my second land purchase was $250K pesos, a Mexican friend spoke with the seller on my behalf, at 6PM he made a full asking price offer, once the seller learned it was a gringo actually making the offer, the price immediately (6:01 PM!) went to $300K pesos :no:

My amigo shamed the seller into honoring his original asking price.

I'd NEVER sold a home/property without a realtor before, but it turned out to be a fairly trouble-free process in my case, and I was able to keep a bundle that would have otherwise been commission in my own pocket.

Each person will make their own decision based on their own personal situation, unique circumstances & comfort level. :bounce:

BajaDove - 2-15-2009 at 10:05 AM

We found a real estate couple who we liked. They really liked our house . we said okay we'll give you a three month listing. Three weeks later they were in the states with all kinds of people complaining. missing money to damaged property.
I said, "gee I liked them."
My neighbor retired cop said,"You can't be a con-man if you're not likable."

Steve&Debby - 2-15-2009 at 11:25 AM

We might be intrested in the house or lots.
Please e-mail me some information on what you have.Check your U2U
Thanks,Steve

[Edited on 2-15-2009 by Steve&

ebby]

gnukid - 2-15-2009 at 11:48 AM

Quote:

Originally posted by Steve&ebby
We might be intrested in the house or lots.
Please e-mail me some information on what you have.
Thanks,Steve

In an attempt to help, you would do better to go to where you want to move, find a place to camp and spend time talking to the people and finding a place you like then proceed mano a mano toward a deal that feels good, then you'll begin the process of completing the paperwork (all of which is described in detail here and other sites) finally you will transfer the money during the final signing of the scritoros.

The moment you say, send me a listing of lots you enter into a much more expensive minority market that for example is like a false MLS for gringos here. Its completely outside the majority of sales and therefore you are missing many far better proprties at lower prices with better opportunity if you use the American style.

Of course, if you are looking for a purchase sight unseen I know a great deal on pre-built sale condos about 5km from the Arch in Cabo with a view of the arch for 700-800k that will be perfect for you... when they get built jajaja.

JESSE - 2-16-2009 at 10:01 AM

You truly don´t need a realestate agent here. Besides their fee, many get the properties at 50% of the price they are selling to you, so you get double charged. Do your homework, take your time, and take advantage of the fact that its a buyers market right now and theres plenty of homes and condos that are being sold by owners. The difference can mean tens of thousands of dollars.

CaboRon - 2-16-2009 at 11:30 AM

Quote:

Originally posted by gnukid
Here's a perspective from BCS:

Here people do not want to speak to agents, they refuse, they go behind them, homes with a fancy sign are ignored while trato directos are being sold. I think there is a terrific lashback against the agents for so many failures and their inherent laziness. Now of course agents are increasingly desperate which is really not in anyone's best interests.

Let's be honest, in Mexico RE agency doesn't mean anything, there is no legal certification that requires them to be legally responsible for anything. You will still need all the other things, notaria, fidi, valuation etc... and the agent is unlikely to help in fact most cause more confusion, delay, and they basically screw-up the deal while thinking they should walk away with some huge percentage for doing zero.

I mentioned here I visited many notarias to meet them and have a nice relationship before I do more deals. I found through interviews that agents are passing very few deals successfully and most, practically all are person to person with no agent.

I think this is true for a variety of reasons but most importantly, the system in Mexico is not designed to require or benefit from RE agency. Who wants to add %10 on top of the deal to give it to some idiot?

I personally know many agents, they constantly surprise me by their lack of knowledge of the process, laziness and lack of passion to complete the sale in a effective manner. Again, I know many many of the so-called top agents and if you ask them simple questions they are missing a great deal of the key info and most will not actually run around and help you as one would expect.

Skip it for now. Place your own advertisement definitely say trato directo even if you will have an agent help because customers are savvy now and do not want anything to do with RE agents.

All of this is actually quite exciting, there are so many homes and land for sale, so many opportunities to meet one on one and make a nice deal and work together. I am seeing homes and land sold for as little as a $1000, tons of opportunities.

Gringos need to be personally responsible, smart, involved and patient and get out there and meet people and forget about preconceived notions from the USA about needing an agent-it's not happening here at all.

Gnukid,

Excellent advice !

Just here in Todos Santos I have counted over two hundred for sale signs ...

Come down and live for a while before purchasing, otherwise you might find disapointment.

I think the reason they are NOT selling is that they are asking far tooooo much for these properties.

CaboRon

BajaGringo - 2-16-2009 at 12:26 PM

I agree that there are many who came into the RE business to sell in Baja, thinking that the boom would never end. Many of them have little knowledge of the process and I am constantly amazed at how many Gringos look to buy from another Gringo, thinking that they will be "safe" with a "paisano". Just having blond hair and blue eyes is no guarantee.

If you don't speak Spanish you cannot understand completely how the system works and even a well meaning agent will probably not do you justice. I would suggest that you seek out an agent/broker who works with one of the recognized professional associations, brings up things like the importance of disclosure, escrow accounts, handling of funds, etc. Also make sure that he/she is bilingual and has a record of successful transactions and happy clients.

One that I highly recommend here in Baja Norte is Brian Flock. Good guy, bilingual and will do you right in the WHOLE process. If you knew the real story of our history you would truly appreciate that recommendation...

[Edited on 2-16-2009 by BajaGringo]

Martyman - 2-17-2009 at 09:53 AM

Watch out for Mulege Real Estate. They showed me a couple pieces of beachfront but the price they quoted over email doubled when I made an offer in person. In retrospect, I'm glad it didn't happen.
They were on the highway near the turn off to the Serenidad, I don't know if they are still there or not.