The Association of Real Estate Agents and Companies (AEl) warned future home buyers to be better informed when purchasing or reserving a property to avoid fraud. Recommends using recognized and reputable builders and real estate agents.
The president of AEI, Alberto Bogaert, reported that in these last months of the year, complaints from people via social networks have increased, highlighting that they have been victims of real estate scams or non-compliance with plans or very long delays in agreed waiting times.
“We express our deep concern regarding the repeated non-compliance of some construction companies towards home buyers. These irresponsible practices not only endanger the assets of hundreds of Dominican families, but also undermine confidence in the real estate sector and negatively affect the reputation of our country as an investment destination,” he said.
He highlighted that they call on national authorities to strengthen supervision mechanisms in the construction sector. “It is urgent to guarantee that affected consumers have agile and effective ways to assert their rights and protect their investment,” he indicated.
Bogaert recalled that they have urged the approval of a bill that regulates real estate intermediation, so that there are clear rules for the practice of real estate agents and to provide security to property buyers and avoid fraud.
He said that AEI is available to the authorities to collaborate in the design of a regulatory framework that protects both consumers and real estate agents, and that promotes a fair and reliable market. He expressed that today the largest buyers are Dominicans living abroad and low-cost homes and second homes are sold more.
