by John Youden - January 19, 2017
Currently in Mexico there is no licensing required for real estate sales professionals. In order to assure that realtors are performing in a professional and ethical manner, the Mexican real estate association, AMPI, (Asociación Mexicana de Profesionales Inmobiliarios), has taken on this responsibility on behalf of buyers, sellers and the general public.
AMPI has published ethical and fiduciary standards that its members are required to maintain. Those standards provide some assurance that the often complex process of a real estate transaction is less likely to go awry through a lack of due diligence on the part of the real estate professionals.
In addition, AMPI standards require that their associates be involved in the community they are servicing. Among the requirements for membership in AMPI, there is a need for 100 hours of continuing education and testing, and foreigners working in real estate must be approved to do so by immigration. In a real estate market as active as the Puerto Vallarta area, it is important to know that your realty agent will still be around the day after the ink has dried on the sales agreement.