Kim Beecheno - February Friday 2005

INTERESTED in becoming a real estate agent in Costa Rica? You may be in for a few surprises. Legally, the only requirements you need to become a realtor here are a residency permit and a work permit no license is required.

Becoming a member of the Real Estate Chamber is optional, although Spanish speakers may find a short orientation course run by the chamber useful. The course costs $175, takes place once a month and is 32 hours long, completed in four days full time or eight evenings part time.

Participants are taught the technicalities of construction, brokerage, contracts, customer service, ethics and basic Costa Rican laws. “Not every real estate agent is a member of the chamber, but the responsible people are,” said Emilia Pisa of the Real Estate Chamber. However, some of the realtors interviewed by The Tico Times did not feel it was worthwhile to be a chamber member, and said they did not find the meetings beneficial.

The general consensus of many real estate agents is that the ease of becoming a realtor means some people do not do business as well as they should. “I’ve seen a lot of shady goings on,” said Ron Douglas, manager of Surfside Properties in Potrero, on the North Pacific coast. However, he added, “Costa Rica is the place to be at the moment; the market is hot. If you work hard, work long hours and are honest and effective, you will do well.” ALEXANDRA Lancaster runs Alexi Real Estate, her own property business in the Central Valley.

She had several years of experience and was licensed in three states in the United States before starting up in Costa Rica 15 years ago. How did she become a realtor here? Lancaster remembers she started out with very little money. “I think I had to borrow money for my first advertisement in The Tico Times,” she recalled. From the response to the advertisement, she began helping interested people buy houses. Her flair and experience brought her success, but she said it was very hard work.

Lancaster now builds homes, works as a consultant and is working on a project for “affordable housing for non wealthy North Americans” just outside the Central Valley. Fluent in Spanish, Lancaster said half her clients are Costa Ricans. Other agents, such as Douglas, admitted they don’t speak a word of Spanish. “Almost all of our clients are English speaking,” he said.

A working knowledge of Spanish would obviously make life easier, but the predominantly English speaking clientele means it is possible to do business without knowing the language, particularly on the Pacific coast, where holiday condominiums or retirement homes are very much in demand.

Lancaster has some advice for anyone interested in becoming a realtor. “Prior experience is essential, and be prepared for extraordinarily hard work. In Costa Rica you must be prepared to work in an unregulated business. It is not a part time job, but the rewards can be great, and it’s enjoyable because it’s a great way to learn about the country.”

If you want more information about the best real estate affordable, please contact Costa Rica real estate and retirement properties or call toll free 1 888 581 1786.