In Panama’s dynamic real estate sector, strengthening order, legality, and professionalism in the practice of brokerage has become a priority. Faced with the growing complexity of real estate transactions, the Panamanian Association of Real Estate Brokers and Promoters (ACOBIR), as the sector’s representative body, strongly supports the actions promoted by the competent authorities, especially of the Ministry of Commerce and Industry (MICI), in its role as regulatory body.
In this context, the Technical Board of Real Estate, as the regulatory authority attached to MICI, has reinforced its institutional commitment to the modernization and professional training of real estate brokers. Among its most recent initiatives is the implementation of a digital tool that allows online verification of whether a person is a qualified broker, accompanied by the “Ask your broker for their license number” campaign, aimed at fostering trust and transparency in the sector. Furthermore, the qualifying exams have been updated to ensure the technical training of candidates under high ethical and professional standards.
“As a regulatory body, the Technical Board has the responsibility to ensure that brokerage is carried out legally. We are vigilant and committed to continuing to identify those who operate without a license, applying the corresponding sanctions, and protecting consumers”, said Katherine Cardoze, director of the JTBR, referring to the recent official communication addressed to the public.
For her part, Sarita Hanono de Hamui, president of ACOBIR, stated: “As an association, we promote professional and ethical practice within the real estate sector. We value the measures implemented by the JTBR, as they strengthen consumer confidence and recognize the work of those who practice the profession in compliance with all legal requirements”.
A Key Ally in the Regulation of the Real Estate Sector
With more than 50 years of experience, ACOBIR has established itself as the leading association representing real estate brokers, promoters, and developers in Panama. Its recognition is reinforced by its active participation in strategic decision-making bodies such as the Technical Board of Real Estate (JTBR), the MICI regulatory body, which also includes representatives from MIVIOT, the MEF, and the only two associations with current legal status, including ACOBIR.
What are the benefits of being an ACOBIR member broker?
ACOBIR member brokers have access to specialized committees, legal advice, administrative support, and alliances with international associations. They can join organizations such as the National Association of REALTORS® (NAR) in the United States, as well as the Latin American Confederation of Real Estate Brokers (CILA). They also have access to continuing education tools, technical support, and places for professional networking.
Why is it important to work with a qualified broker?
From a consumer perspective, working with a broker with a current license issued by the Real Estate Technical Board is a fundamental protection measure. This is according to Berliza Arosemena, an ACOBIR attorney, who emphasizes that the only official document that proves a broker’s legal qualification is a current card issued by the Technical Board. This support prevents scams, reduces legal errors, and ensures that the transaction is carried out in accordance with the law. Consumers can verify whether a broker is licensed by consulting the official MICI website.
What risks exist when working with unauthorized individuals?
Working with unlicensed individuals poses a risk to buyers, sellers, and investors. There are multiple reports of scams, errors in transfer tax calculations, and legal issues resulting in financial losses. Those who practice without a license can be sanctioned with fines of up to $10,000, according to Decree Law No. 6 of July 8, 1999, and face criminal prosecution for the crime of illegal practice of the profession.
What does ACOBIR recommend for consumers?
Verify that the broker has a valid license, regardless of whether or not they belong to a trade association.
Check the MICI website to confirm the validity of the card.
If you are also a member of ACOBIR, you can confirm this in the official website: www.acobir.com
Always require the presentation of the official card issued by the Technical Board of Real Estate before completing any transaction.
The Technical Board of Real Estate and ACOBIR reaffirm their commitment to legality and strengthening the sector. Both institutions will continue working together to ensure a safe, professional, and transparent real estate market that protects consumers and raises the standards of the real estate industry in Panama.
Photos courtesy: ACOBIR