real estate listings - who sees what?

Ilya

New member
Jun 20, 2007
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How does it work in DR? when someone decides to sell their property, do they sell through a specific agency, the same way as it is in US? the property goes to some sort of national listings database and every real estate agent who has a subscription can see it? Couldnt find this sort of information in google.
If other agent sold it, how do they share commissions, who gets what?
my understanding is that real estate industry is not very regulated so markup of 30-40% is nothing unusual plus no real estate licence is required so anyone and their uncle can sell properies and form a chain because eveyone wants a percentage? please explain. many thanks!
 

Bob K

Silver
Aug 16, 2004
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How does it work in DR? when someone decides to sell their property, do they sell through a specific agency, the same way as it is in US? the property goes to some sort of national listings database and every real estate agent who has a subscription can see it? Couldnt find this sort of information in google.
If other agent sold it, how do they share commissions, who gets what?
my understanding is that real estate industry is not very regulated so markup of 30-40% is nothing unusual plus no real estate licence is required so anyone and their uncle can sell properies and form a chain because eveyone wants a percentage? please explain. many thanks!


You are correct in that no licence is required and their are some very honest agents and some less so. There is also no MLS system like in the US so most properties are listed with multiple agencies to afford the greatest exposure of your property. The commission for the sale ususally goes in total to the selling agency and the commission rate is usually between 7-10% depending on the size and the value of he property being sold. If you want more information please feel free to PM me.

Bob K
 

Robert

Stay Frosty!
Jan 2, 1999
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Is the commision of 7-10% the norm??

All depends on what part of the country and of course the development.

In Santo Domingo, you are looking closer to 5%. Large developers like Cap Cana etc offer 3.5 to 5%. I have seen as low as 1% in Santo Domingo for large luxury towers.