What to Expect Of Your Licensed AMPI Agent

Dec 3, 2012 by Wayne Corcoran

By Wayne Corcoran, Vice President – Public Relations, AMPI Chapter 51, Puerto Peñasco

ReSales Broker, Laguna Shores Resort

Are you a long time property owner looking to sell your vacation home, lot or condo? Are you a first time visitor thinking about buying property in Rocky Point? What do you expect of your real estate agent? How can AMPI, the Mexican Association of Real Estate Agents, assist you with meeting your expectations?

Here are a few questions and thoughts to help you know what to expect of your real estate agent, brokerage and our AMPI Association.

Buyer Needs:

We assume that you want the best deal when purchasing your property, so ….

  • Have you described what you are looking for in a property, for your life style and your spending limits, including closing costs? Has your agent provided you with a comprehensive MLS report which should match your requirements, so you can start your property search?
  • Are your purchase risks being managed thorough disclosure of property title, property restrictions and all related purchase costs? Does your agent use the AMPI Buyers Checklist? Download a copy: http://www.puertopenascoampi.com/Buyers_Checklist/page_2033889.html.

Seller Needs:

We know you want the best price for the sale, so…..

  • Have you discussed with your agent how he/she will ensure that the largest number of potential buyers see your listing (This means your property needs to be effectively listed in the AMPI MLS, and your agent needs to show how he/she will promote your listing).  Is your listing on their website? Is it advertised in newspapers or through online media? How are your biggest markets being made aware of your listing, are they connected to the MLS listing?
  • Are your interests protected within the sale process?  Is the Offer to Purchase reviewed thoroughly to protect your needs? Is the Promise of Trust Contract written to protect your interests? Are your funds safely managed during Escrow?  Is your Bank Trust or Public Title completed efficiently while ensuring your interests are effectively managed? For example, do they protect for the risk of when a buyer fails to make scheduled payments?

AMPI Association Contribution:

We all know that real estate agents live on commissions, so they only make money when you are buying and selling. In a buyer’s market, an agent may focus more on finding buyers through marketing efforts.  During a seller’s market, the agent may pay more attention to meeting seller requirements. An agent focusing only on the buyer or the seller can focus completely on one client. The agent who is representing both buyer and seller must be very careful to fully and ethically meet the needs of both clients.  No matter how an agent advertises to get your attention, be sure you are comfortable that YOUR needs are being met! An AMPI Agent is obligated to serve you needs, ethically and completely.

AMPI agents contribute much more than property transactions, they help the association improve. With the application of education, accountability, and high ethical standards each member agent helps to elevate the level of practice within the real estate industry, in order to improve the industry’s capability of meeting your needs consistently.

A look at the long rich history of real estate in the US reveals that the National Association of Realtors has been constantly evolving, maturing, and helping to formulate the real estate laws that hold brokerages and agents accountable. You should expect the same here in Mexico? AMPI is the National Real Estate Association, and our local chapter is one of the more advanced in practices. We have well-developed ethical standards, contracts, processes, and education. We support the State of Sonora law requiring real estate agents to be licensed and we provide the required education for licensure.  Our Vice President – Legal helps us comply with the Mexican laws that affect real estate transactions, as well as the standards established by the AMPI National Association, of which we are a part. Here in Puerto Peñasco, we know that we have good systems in place, and we also know there is much work to do to ensure that the contracts, Multiple Listing Service (MLS), education, and ethics processes all continue to evolve in order to meet the changing and evolving needs of seller, buyer, and Mexican law.

You can expect more from your AMPI Agent and Brokerage. Be sure that you are working with an agent that is bound to perform in your best interest.

Sonora State law requires Real Estate Agents to be licensed.  AMPI (Association of Mexican Real Estate Professionals) is the sister organization to NAR (National Association of Realtors) in the USA.  Actually AMPI Associates are also able to become NAR Members. Our members are committed to excellence.  We encourage you to visit our association’s website at www.RockyPointAMPI.com and learn more about who we are and what we have to offer you, then call one of us TODAY!

 

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