Protecting Your Investments: Jalisco’s New Real Estate Law
In a significant stride towards safeguarding the interests of Jalisco’s residents and ensuring trustworthy real estate investments, the Jalisco Congress has officially ratified the Registration and Accreditation Law for Real Estate Service Providers of the State of Jalisco. This groundbreaking legislation is set to tackle real estate fraud head-on, bringing peace of mind to investors and property buyers alike.
A Shield Against Real Estate Fraud
This comprehensive law, born out of the pressing concerns raised by the Mexican Association of Real Estate Professionals (AMPI) in Guadalajara under the leadership of Mario Romo Alarcón, has a singular mission: to combat the rising tide of real estate fraud. Many instances of fraud have been linked to inadequately trained advisors and the nefarious activities of impostors posing as seasoned industry experts.
Transparency Through Public Registry
Under the provisions of this new law, a publicly accessible registry will be established, enabling citizens to verify the accreditation of real estate advisors. To ensure the highest standards of service, the law mandates 120 hours of training for new advisors and an additional 60 hours for renewals.
Fostering Competitiveness and Protecting Investments
Mario Romo Alarcón emphasizes that this law is not only a shield against fraud but also a catalyst for boosting real estate competitiveness in Jalisco. A 13% surge in real estate investments is projected for 2023, reaching a nationwide total of 580,000 million pesos.
A Response to Alarming Trends
Deputy Gabriela Cárdenas Rodríguez underscores the urgency of this initiative, citing over 3,600 reported real estate crimes and frauds in Jalisco in 2021 alone.
Promoting Integrity and Trust
This legal framework lends its support to Real Estate Associations that commit to upholding integrity and anti-corruption practices. As a result, citizens engaged in property transactions in Jalisco will have access to precise and reliable information.
A Trusted Environment for All
Rather than stifling professional practice, this law fosters an environment of trust and protection, benefiting both industry professionals and citizens.
Steering Jalisco towards Real Estate Leadership
Jalisco, ranking among the top three states in national real estate demand, recognizes the importance of offering legal certainty to investors and ensuring the safeguarding of residents’ property interests.
Transparency and Security: Jalisco’s New Standard
With these reforms, Jalisco emerges as a leader in transparency and security within the real estate sector, setting a new benchmark for the rest of the country.
