BajaNomad

California (USA) Real Estate License useful in Baja?

walterbyrd - 4-3-2014 at 10:24 AM

It does not make any sense, to me, that such a license would mean anything in a completely different country.

But I was reading, somewhere, that an American with a California RE license could work with a broker to sell real estate in Baja.

durrelllrobert - 4-3-2014 at 10:32 AM

Entrance/licensing requirements










Currently Mexico does not have a national real estate license law although the states of Sonora, Sinaloa and Guanajuato require the registration of real estate practitioners. Agents working with clients in those states should verify local requirements for specifics.
In the rest of the country, there is no regulation of practitioners and any Mexican citizen can promote and offer real estate for sale.

Non-Mexicans must obtain an immigration status permitting them to work in the field. This status could be a business visa for single transactions or the Residente Temporal (non-resident) or Residente Permenante status.

Mexican Consulates in the U.S. and Canada can provide further information about the requirements for each different status.
No minimum educational requirements are in place though AMPI, the Mexican Real Estate Association, has signed agreements with The Normalization and Certification Board of Labor Competency (CONOCER) which establishes criteria and which tests basic proficiency in the subject matter. This is a new program which is being tested in Monterrey, Mexico and may be extended to the rest of the country.

baconjr - 4-3-2014 at 07:07 PM

The Mexican real estate industry is a rough and tumble place. There are no "standards". Every transaction and as far as paperwork goes is new. No Standard note, deeds, escrow or lending papers. Some developments have created standardized documents but that is about it. It was a learning experience that took 7 months to close. Meanwhile our neighbors whose the wife is a Mexican national transaction took 30 days. I also learned a valuable lesson, "Don't get a Mexican lawyer named Jesus" it was an experience!

BajaLuna - 4-4-2014 at 10:50 AM

and no disclosure statements by the Sellers are necessary either. Not to mention a Realtor does not have to work under a broker, who oversees contracts etc. Yes, some do in the bigger Cities...IE: many American Real Estate companies have offices in Mexico. And there is also no standardized commission percentages either...it's between the parties pretty much.

If you've ever sold real estate in Cali before, over the years it has just gotten completely ridiculous to the point of one needs to be practically a Real Estate Attorney nowadays...so you will find that selling in Mexico is a cake walk! There's no liability thus no rules to abide by on the Realtor's end.

DENNIS - 4-4-2014 at 10:59 AM

Quote:
Originally posted by walterbyrd

But I was reading, somewhere, that an American with a California RE license could work with a broker to sell real estate in Baja.


That, on the face of it, is wrong, Walter. Working is working and proper papers are required for all of it.
Things happen in places like Cabo that defy the law, but illegal is illegal.
Don't believe everything you read.

Skeet/Loreto - 4-4-2014 at 11:01 AM

Iwent to a Good Attorney in La Paz, set up a Mexican Corp.

Over the years I lived in Loreto I bought and sold 18 different properties. never had a bit of Trouble.
The Fees for doing so were very small.

I would strongly suggest the setting up of a Mexican Corp.


SkeetLoret

BajaLuna - 4-4-2014 at 11:08 AM

However, there is something rather freeing about buying in Mexico, I do not miss those MOUNDS of paperwork as a buyer, a seller, and a Realtor, and the responsibility lands on the buyer to be aware. Simple and uncomplicated!

mcfez - 4-4-2014 at 11:18 AM

It's nothing like selling in Ca........just getting financing is a real issue...for buyers of The Baja / Mexico. You be selling to cash and that there isn't much. You be better off doing property management.

walterbyrd - 4-4-2014 at 11:41 AM

I used to live in California. I had a real estate sales license. Now I have a bachelor's degree, and all the real estate courses I need to sit for my broker's license (unless they have changed the rules). I am good at taking tests, might be worth-while credential if I want to do some work - even if it means nothing legally.

Seems like I would need to be especially careful about buying in Mexico. A very serious "buyer beware" set of rules. Maybe I should rent for a while first.

bajaguy - 4-4-2014 at 12:03 PM

Quote:
Originally posted by walterbyrd
Seems like I would need to be especially careful about buying in Mexico. A very serious "buyer beware" set of rules. Maybe I should rent for a while first.





Pretty good thought, however it depends on where and what you want to buy

danaeb - 4-4-2014 at 12:33 PM

Walter - it's not just the matter of "buyer beware". I can't tell you how many people I met in La Paz who were investing during the 2005-2007 frenzy. The sunday travel sections of many western US newspapers were touting Baja as "THE" place to find your piece of paradise. A lot of people jumped on the bandwagon and sunk the equity from their US homes on their adventure. Many of them had never been to Baja or anywhere in Mexico. Of all the people I met during that period who purchased land and built homes, about 20% remain. Most lost a lot of money on the resales when demand plummeted after the recession.

I would seriously advise you to rent first for a least a year, wherever you decide to land.

mcfez - 4-4-2014 at 01:27 PM

Many here at the BN will advise you to lease/rent for a year in the neighborhood that you really like. Get the real facts such as negatives and positives before getting cemented in what could be Hell.

We have a GREAT spot where our house is in SF....but have heard of bad stories a few times. Most stories are good BTW

DENNIS has a fantastic place up for grabs btw
Quote:
Originally posted by walterbyrd
I used to live in California. I had a real estate sales license. Now I have a bachelor's degree, and all the real estate courses I need to sit for my broker's license (unless they have changed the rules). I am good at taking tests, might be worth-while credential if I want to do some work - even if it means nothing legally.

Seems like I would need to be especially careful about buying in Mexico. A very serious "buyer beware" set of rules. Maybe I should rent for a while first.


[Edited on 4-4-2014 by mcfez]

DENNIS - 4-4-2014 at 01:34 PM

Quote:
Originally posted by mcfez



DENNIS has a fantastic place up for grabs btw




Thanks, Deno. I appreciate that.

Walter has been burning up the board looking for prices on public transportation, so I don't know if he's a hot buyer prospect at this time....or not. He may require something closer to town.

mcfez - 4-4-2014 at 01:38 PM

Quote:
Originally posted by DENNIS
Quote:
Originally posted by mcfez



DENNIS has a fantastic place up for grabs btw




Thanks, Deno. I appreciate that.

Walter has been burning up the board looking for prices on public transportation, so I don't know if he's a hot buyer prospect at this time....or not. He may require something closer to town.


So......I have to throw my 6% out the window now? :lol:

6%?

durrelllrobert - 4-4-2014 at 03:27 PM

Quote:
Originally posted by mcfez
Quote:
Originally posted by DENNIS
Quote:
Originally posted by mcfez




DENNIS has a fantastic place up for grabs btw




Thanks, Deno. I appreciate that.

Walter has been burning up the board looking for prices on public transportation, so I don't know if he's a hot buyer prospect at this time....or not. He may require something closer to town.


So......I have to throw my 6% out the window now? :lol:


I just watched a Relator's commercial on TV stating that he had the lowest commission in San Diego at 5.99%:lol:

walterbyrd - 4-8-2014 at 07:36 PM

Here is where I got the idea about the CA license:
Quote:
[A second easier method is to interview reputable real estate brokers in Baja (or elsewhere) and reach an agreement for referral fees. Typical referral fees are 20 percent of the commission paid by the Mexican broker to a California licensed broker/sales agent. Reputable Mexican brokers will insist on having a copy of the California license for their files. This method avoids having to obtain an FM3 or registering with Hacienda. The Mexican broker pays the tax on the amount paid as a referral fee thus satisfying the Mexican income tax liability./quote]

http://www.transbordercommunications.com/news-18.php

gnukid - 4-8-2014 at 07:53 PM

Walter needs a camper van! Done!

Maybe one parked with no engine! Perfect!

[Edited on 4-9-2014 by gnukid]

6% ??????

J.P. - 4-8-2014 at 09:21 PM

Before you embark on a R.E.Career you need to research the commission split the only person that gets 6% is the listing Broker if he sells his listing. If one of his Agents sells it they each get 3%.If a agent from another R.E. Agency sells it he get's 1 1/2 % and his Broker get'1 1/2 % and the Listing Agency sales Agent gets 1 1/2 % as does his Broker.
Percentage wise a listing Agent never sells his listing.
The real way to make money in R.E. is acquire listings someone will sell it.

mtnpop - 4-9-2014 at 09:21 AM

Seems that in our area of BAJA the "realtors" think that their expertise in listing your property or house is worth a 10% commission....
Even tho most NOB are at 6% or 10% on vacant land or commercial...

Maybe not all in BAJA since I don't have property from end to end..

A little too pricey for my taste when selling when you really only need to use an attorney or facilitator to the Norario.... as all paperwork is done thru the Notario.... anyway on Fideicomiso properties.... don't know if you are selling a house on a leased property.... Then the property owner usually has some say from what we have been told...

805gregg - 4-9-2014 at 07:38 PM

Enough dumb a$$ questions, just figure it out, might be more fun