This is always an interesting discussion as there are so many variables to consider; so many elements that my client might not have understood when they were talking to their friend. What begins as a “Quick Question,” to me, usually evolves into a long meeting, followed by raised eyebrows, some laughs, and finally tequila.

The most important element to consider when reviewing details of other’s purchase history in Mexico is, ‘who managed their purchase?’ Some buyers are sold down the river and told they are working with a “Master Broker,” only to find out that person is none other than a timeshare sales person. Others do end up working with a Broker, but find they are not as experienced or unable to fulfill the obligations of the transaction. There is no doubt in my mind that a Real Estate Broker is a necessary professional in a Mexican Real Estate transaction. At the same time, Buyers need to do their diligence and ensure they are selecting the best professional for the job.

Brokers are people too. They have wives, children, attend parties, some play guitar and some don’t eat meat. I’ve heard that some real estate investors “don’t like working with brokers” or “don’t understand why they need to pay a broker to do such a simple job.” The ‘simplicity’ really lives in the details of the transaction. If you find the right broker, they are there to ensure the purchase/sale proceeds without complications. They are working behind the scenes to ensure Attorneys, Closing Coordinators, Inspectors, Municipal Officials and Notarios are all communicating and exchanging the right documentation.

Anyone that has purchased or sold property in Mexico knows there is a lot of documentation! The Broker maintains updated credentials and a calendar of deadlines to ensure all documentation is in compliance with current requirements and at the same time find opportunities through the process to help save money for the Buyer/Seller. It’s about the hours they have spent in the industry they will use to troubleshoot that one element that might make or break a deal. The experience, the knowledge and the connections will help push the deal to a close.

Your Broker should always present you with options. Something as simple as Title Insurance is an option and you should be aware of the different policies you have access to. Broker’s commissions are not an option, but the deductible event that takes place is. The amount of your commission paid to your Buyer/Seller team needs to be considered as an option so you can strategize the end result of your purchase/sale.

The conversation I have with my clients about this topic usually begins with me asking, “What do you expect from your Broker?” From there, I can determine the experience they’ve had with real estate professionals and gauge expectations in order to provide a great service.