Real estate in Costa Rica is evolving rapidly and for the better, although the industry is still not as regulated as in other countries. In this sense, there are certain myths and truths about the Costa Rican real estate market that are worth knowing.
Myth: Anyone can be a real estate agent today.
Truth: This is false. Although there are many real estate agents in Costa Rica, not everyone can be. There are professional licensing and requirements that must be met, and the industry has become more regulated in recent years. It’s important to note that not just anyone can become a real estate agent, and there are two types of professional licenses that must be obtained before you can practice as a real estate agent. Although in Costa Rica there are no RE licenses in Costa Rica, if you work with prestigious real estate companies, find highly ethical, professional agents and records in the respective Costa Rican government institutions.
Myth: You need to work with several agents to see everything that is available on the market.
Truth: This is no longer true. The Costa Rican real estate industry has matured and with it, collaboration, and transparency. If you choose a legal, professional, and ethical agent, you can work only with him and access all the offers available in the market, including listings with other agents and direct property from the developer.
- Commit to a single real estate agent in Costa Rica. Instead of working with multiple agents, choose an experienced, professional, and ethical one who will collaborate with area agents to show you not just their inventory, but the competitions. One of the top tips for Costa Rica real estate buyers is to spend time building a relationship with your agent, as this will be your strongest advocate. While this is a professional relationship, it is also a personal one, so it is important to get to know the agent before they can actually work for you. You must know him and establish a relationship of trust. Although this relationship is professional, it is also personal. Invest time and effort in getting to know your agent, and choose one with whom you feel connected and have a good relationship.
- Visit and investigate before deciding to buy. Before looking for a house and visiting it, consider hiring a Costa Rica relocation specialist and taking a relocation tour. A relocation expert will help you learn about the areas of Costa Rica that meet your needs and desires and will inform you about important details such as culture shock, microclimates, infrastructure, and access to public services. Relocation can help you better understand your needs and wants for your new home and help you select the right area in Costa Rica to meet those needs and wants.
- Another piece of advice is that do not get carried away by the low prices. Although prices may be lower in Costa Rica than in other countries, this does not mean that you can find high-quality property at a low price. Don’t get carried away by the low prices and make sure that the property meets your needs and expectations.
Real estate agents in Costa Rica must be highly specialized in the region where they operate. It is important for buyers to confirm that their agents have the necessary experience and credentials to properly represent them. Buyers must also verify that the agents are legally registered and authorized by the Global Association of REALTORS® of Costa Rica or the Costa Rican Chamber of Real Estate Brokers. In addition, it is recommended that buyers ask some legal questions and confirm the agent’s access to the Costa Rica MLS. Buyers can also get trusted professional referrals from agents and ensure that the agent is a true advocate representing them at all times. Work only with qualified and registered brokers.
It is important that the agent have access to the Costa Rica MLS, which is only available to those who are legal to work in the country and who take real estate courses through their chosen association. The buyer or seller will experience a higher level of professionalism by working with a broker or agent who has access to the MLS.
The following tips for choosing a real estate agent in Costa Rica can be summarized:
- Find specialized agents in the geographical area where the property you want to buy is located.
- Check the agent’s experience and track record in the market. Always ask:
- Whether they have legal residency
- Are registered with Hacienda
- Are registered with SUGEF, and, preferably
- Are a member of either CRGAR or the CCCBR.
Confirm the legality of the agent, including residency Legal ia in Costa Rica, registration and authorization in reliable real estate associations, and the credentials to represent adequately.
- Make sure the agent has a basic working knowledge of Costa Rica real estate law and can recommend a knowledgeable real estate attorney.
- Find an agent who can refer you to their network of trusted professionals, including home inspections, surveyors, and real estate attorneys.
- Look for an agent who is a true advocate and represents the buyer’s interests effectively.
By following these tips, you can find a reliable and experienced real estate agent in Costa Rica who can provide comprehensive and professional services. Houses at Costa Rica is a specialized real estate company that prides itself on assisting people in their search for Costa Rica property.