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Last activity 06 November 2018 by the tinker40

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jws1270

There doesn't seem to be a MLS for Dominican Republic properties preferably the Sosua area.  I was wondering if one RE company can sell other RE companies' listings?

planner

Welcome to the forums. There is no MLS honey, it's the wild wild west when it comes to real estate and buyer beware!

jws1270

Thanks...seems like.  I'm from Texas so the wild wild west is like home to me.

the tinker40

Thirty years on the north shore, Sosua/Cabarete area. A great source of information & an honest business man. He is my first choice in real estate. Not your normal pushy, get the sale type of guy.  Mike McDermott. 1-829-678-2975    whatsapp     e-mail   eagles1258@yahoo.ca   expat references galore, just request.

2VPsoldier

There is a Canadian in Cabarete that sells Real estate- Prestige Realty. Name is William (Biĺ) Osterman.  Contact info is: cabaretewilliam@hotmail.com; www.prestigedominicanrealty.com; 809 935 0809. He also owns a small hotel called Casa Blanca. Seems to be a straight up honest guy. We have stayed at his hotel only twice but dealt with him for real estate. Just another potential contact...

the tinker40

Just sneaking in a hello to Brian & Josefina. Always speak to many people for the names of good agents. Real estate has no rules. Longevity is usually a safe indicator of honest service for locals & expats.  There is another good one in Sosua.  I mentioned him before.

Dream City Resort

Real Estate in DR, especially in tourist areas, and its differences from the USA is a whole big topic.

To answer your question, no, there are no RE companies selling the listings of other companies. MLS here works differently. In the USA, a property normally has one listing agent who gets a commission independently from whether he closes the deal or some other agent. Here in DR, a property is listed with as many agents as the owner would like. The owner signs a non-exclusive property listing contract with each of them so there is no connection between different agents. Each one works and sells on their own. That's why you can see a house with several For Sale signs from different real estate companies.

Another important moment is that many agents here work without any license, not to mention, there is no difference between a broker and real estate agent/salesperson. Whereas MLS requires an agent to have a license to be able to list a property. Besides, there is no distinction between a buyer and seller agent, it's normally one person who does both.

All that said, you can figure out now why there is no MLS in the Dominican Republic. But I'd not agree it's wild wild west, things are just different. And people use different tools.

jws1270

thanks for the info.  It makes a lot of sense as I used to be a RE broker.  Hope to be there soon.

planner

There is no licensing. There is no conflict of interest.  A realtor can act for both parties!  Everyone is a real estate agent and most have no idea what they are doing!!!

It is BUYER BEWARE!!!

the tinker40

Look.... Listen.... Learn..... ALWAYS, ALWAYS TAKE YOUR TIME  . Remember this point in fact.  it is your money ,you rlife & your future,  hThinktesitate, research  before you place all this in someone elses' hands...   Think about it.............  There are really good people around,  just not so easy to find . I know a couple of them.

Articles to help you in your expat project in Dominican Republic

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