Finding a full-time agent is a must in today’s battered market. The Punta Cana second home market is no exception.
Real Estate is unregulated in the Dominican Republic, which means everyone can sell you a property- if you let them. Working with a Real Estate agent who works full time, means the difference of getting a taxi ride over to the property, to getting a service, guidance, help with a loan, home inspection, tax and closing advice. finding the right fit is an important decision and one that can mean the difference of thousands of dollars or finding the perfect property for you!
The challenges a realtor works through on a day to day basis, along with the experience of time spent on finding and closing deals is what truly sets the full time real estate pro apart from the realtor who works on the side for extra cash. That experience can make all the difference in the world to you as the client!
Here is our opinion on the comparison of the part time realtor to the person who makes a living selling real estate, and more than likely is doing what he or she loves to do to earn that living.
Knowledge of the Real Estate Market: For an Agent, knowing the market is an important part of being able to give a client the best real estate advice possible. If a part time agent spends the majority of his time at a job where he can’t focus on market trends, values, and inventory of current and sold listings, then can he really provide the in-depth knowledge that the client seeks and needs? Of course, it is possible, but it is more than likely that you will learn the part time realtor does not have the in-depth knowledge of a real estate market that you demand as the client.
In addition to the gardeners, taxi and waiters waiting to aid you in your property needs, many property managers want to get in on the action, listing properties for sale while managing their vacation rentals. This is a time-consuming job, not only does it take away from any time to dedicate to sales, but most times, are not able to show properties and are known to send out inexperienced receptionists and assistants to open doors for clients while saving on paying a commission. Expecting to earn a buck while sitting comfortably at home by the computer working on the heavy admin.
You should keep the part-time Agent’s schedule in mind when you are short on time for property viewings during your Punta Cana visit. Expect Delays in Communication, Accessibility and Availability of Schedule.
Connections: A full-time real estate Agent’s likely built connections to local contractors, lenders, other realtors along with many people in the service industries that are out there working on a daily basis to help people just like you! A quality painter who can give a good price can be the difference between selling thousands of more dollars, or a trustworthy lender that is a perfect fit for someone in your exact situation…..these are the types of connections your full time agent has built in the community and these are the people you want access to when you are making your move!
Database of Past, Current and Future Clients: Many full-time agents are involved with a variety of advertising methods with the goal of building future business and thus their database. This is undoubtedly helpful when it comes to marketing and selling your home, or when the market’s current inventory looks bleak. When this is the situation, out comes the database, several phone calls and voila… your real estate Agent has come through like the professional that he or she is!
Experience (We can’t stress this enough!): Again, experience is the name of the game and your full-time realtor is calling the shots! Whether it comes to negotiations, working a way through a sticky deal or finding the right home for you, someone who is selling homes on a daily or weekly basis has acquired the experience that will get you to your end goal! Every deal is different, so is every contract negotiation. Experience is on your full time real estate Agent’s side and he wears experience like a badge of honor! Don’t you want him on your side too?
Who are they?: The Dominican Republic has long been known by many as the undeveloped ‘Wild West of the Caribbean’- and real estate has its part in it. Anyone who has a shady past and lacks professional background can be a success in the Caribbean. All it takes is an attractive website and a couple of locally printed business cards.
Check references, verify that he or she’s a member of the National Association of Realtors on the Organization’s website at: www.nar.realtor. Also, check their educational and professional background, you want someone who’s well-educated, up to date on current issues and who has a solid idea of professional conduct and ethics. Claims of old
Check for additional training, and alliances with other professional organizations such as the local Dominican Real Estate Association ‘Asociacion e Empresas Inmobiliarias (AEI), Certified International Property Specialist (CIPS®), Resort & Second Home Property Specialist (RSPS), CREA Global Affiliate.
Search Engine Optimization training, E-listings and other fancy add-ons might sound nice to have, but are typically money-making schemes that won’t aid in your search. Moreover, don’t be tempted to hire the self-proclaimed mega-star “top producer” real estate agent. A lot of times they’re just machines snapping up every listing they can get and overpricing them so they don’t sell and they can keep them in their vacation rental programs.
Lastly, Google the realtor’s name- bad reviews (and their reactions) should send up red flags.