walterbyrd
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California (USA) Real Estate License useful in Baja?
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.
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durrelllrobert
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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.
Bob Durrell
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baconjr
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Mood: Es la vida de perro!
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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!
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BajaLuna
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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.
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DENNIS
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| 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.
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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.
"YOU CAN'T LITTER ALUMINUM"
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Skeet/Loreto
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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
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BajaLuna
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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!
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mcfez
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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.
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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walterbyrd
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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.
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bajaguy
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Mood: must be 5 O'clock somewhere in Baja
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| 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
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danaeb
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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.
Experience enables you to recognize a mistake every time you repeat it.
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mcfez
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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]
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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DENNIS
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| Quote: | Originally posted by mcfez
DENNIS has a fantastic place up for grabs btw
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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.
"YOU CAN'T LITTER ALUMINUM"
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mcfez
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by mcfez
DENNIS has a fantastic place up for grabs btw
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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? 
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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durrelllrobert
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6%?
| Quote: | Originally posted by mcfez
| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by mcfez
DENNIS has a fantastic place up for grabs btw
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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? |
I just watched a Relator's commercial on TV stating that he had the lowest commission in San Diego at 5.99%
Bob Durrell
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walterbyrd
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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 |
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gnukid
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Walter needs a camper van! Done!
Maybe one parked with no engine! Perfect!
[Edited on 4-9-2014 by gnukid]
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J.P.
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6% ??????
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.
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mtnpop
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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...
Common sense is a flower that doesn\'t grow in everyone\'s garden.....
A wise man once spoke nothing.....
Never kick a cow chip on a hot day!!
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805gregg
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Enough dumb a$$ questions, just figure it out, might be more fun
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