They are trying to sell a house only because they took a picture, put it on line, and trying a "flip".

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johne

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There is no doubt in my mind that here in the DR (at least in the capital area) there is a unregulated business of individuals that are trying to sell a property that their involvement in the transaction is no more than a photo they have taken and put on social media like FB market place.I would assume the end play then is that they will get a commission to sell the house, or a more complex schemes of fraud. I don't know any of this for a fact, (just yet) but my many years of flipping houses makes me think ........
"what's wrong with this picture?" The posters are neither owners or owner's reps, or real estate agents.
In my work in the states I have looked at thousands of offerings over the years and one becomes an "expert" in reading between the lines and separating the wheat from the chaff. Recently I started looking at some stuff near the Capital. After a few weeks of on-line activity there are too many parts of the story, the pictures, the posting individuals, the photo manipulations, that concern me. There's something going on here that's not good. So, I will keep digging.

Any comments, experiences, opinions on my observations are very welcomed. Have a great day!
 
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johne

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william webster said:
Well known fact that people here sell houses they don't own.

The new buyer doesn't actually own the house either- but is out the $$$ & the property
Click to expand...
I saw that when I saw multi posters on FB "selling" the SAME house. Not hard to figure out but obviously they get away with it. Yesterday there was a house that I saw on line. There was a sign in the window must have been a for sale sign of some sort. Last night after I messaged the poster the sinn was masked over in gray block out. LOL
 
rogerjac

rogerjac

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You see the same with cars. Multiple sellers using the same pictures of the same cars , sometimes (often) for differing prices. Everybody is looking for a referral fee (commission)
 
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NALs

NALs

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There are no laws or regulations limiting a house for sale to one broker or real estate agent. This is why so many homes in the market are marketed by more than one realtor. Often times the owner of the house is selling without a realter in addition to having several realtors pitching the sale. Whichever comes first, the goal is to sell the house as quick as possible (often takes years.)

Many people here are probably used to exclusive listings as is the custom in the USA, so a house can be for sale but by one broker or if it's for sale directly by the owner it isn't on any real estate company list. Things don't work like that in the DR.

Heck, in the USA real estate agents are regulated and require a license prior to calling oneself that and/or working as one or face legal problems if you do without the proper license. To get that license you have to take a course that could take months and pass a test. In the DR anyone can be a real estate broker, because there is no license requirement or a regulating body of the profession.
 
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johne

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NALs said:
There are no laws or regulations limiting a house for sale to one broker or real estate agent. This is why so many homes in the market are marketed by more than one realtor. Often times the owner of the house is selling without a realter in addition to having several realtors pitching the sale. Whichever comes first, the goal is to sell the house as quick as possible (often takes years.)

Many people here are probably used to exclusive listings as is the custom in the USA, so a house can be for sale but by one broker or if it's for sale directly by the owner it isn't on any real estate company list. Things don't work like that in the DR.

Heck, in the USA real estate agents are regulated and require a license prior to calling oneself that and/or working as one or face legal problems if you do without the proper license. To get that license you have to take a course that could take months and pass a test. In the DR anyone can be a real estate broker, because there is no license requirement or a regulating body of the profession.
Click to expand...
Ah! Maybe houses take years to sell bc those "trying to sell" don't know the difference between a hose faucet and an electrical outlet?? Licensing requires that you sell with "full disclosure". That might be an impossible task in the DR. That would be against all principles of making a sale. Thanks for the info on no licencing in the DR and no truthful disclosures needed. Good to keep in mind and supports my opinions on what I have observed.
 
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johne

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william webster said:
You're learning johne..... I thought you knew about no regs/rules/licensing
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Nope....but I'm learning something new every day.Last night I asked "the seller" what's the address? He absolutely refused to give it to me without meeting me. I thanked him. Today I called another "seller" same house, he gives me the address (rather the street it is on which is good ebnough for me.) IDK...works for me.I'm going to think about how to use these various people on the same house to negotiate.
 
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johne

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The real brokers I have spoken to have real offices, web sites and reviews. In fact I got a recommendation on a broker from one of our members here that I am now working with in SD. His recommendation was based on a purchase that he did through the broker. Not some numb nuts on FB.
 
NALs

NALs

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johne said:
Ah! Maybe houses take years to sell bc those "trying to sell" don't know the difference between a hose faucet and an electrical outlet?? Licensing requires that you sell with "full disclosure". That might be an impossible task in the DR. That would be against all principles of making a sale. Thanks for the info on no licencing in the DR and no truthful disclosures needed. Good to keep in mind and supports my opinions on what I have observed.
Click to expand...
There are intentions to regularize the sector and require licensing, but they remsin intentions for now. If legislation is passed to regularize the sector, and that requires a law to be passed by Congess and then there is some time until it goes into effect, most likely it will include a limitted period for real estate agents to twke a course and pass a test to get the real estate license. Those that fail or never take the exam technically should cease calling themselves real estate agents and selling properties for others.

This being the DR, they will probably continue as is currently done with the plastic surgeon. It will become basically the responsibility of the customer to check the credentials of the real estate agent and check with the to be created College of Real Estate Agents to see if they are listed, all those listed would have a legitimate license. With plastic surgery clients are suppose to do all of that prior to going under the knife. Whenever stories of olastic surgeries horrors cone to light, almost always it was from a "plastic surgeon" that isn't listed in SODOCIPRE when the first thing anyone thinking of getting plastic surgery is check to see if their "plastic surgeon" is listed there.

As stated, for now there is no regulation for real estate agents. Some are very good and knowledgeable, the types that would have a license if it only existed, and then there are the others. Other than references from previous customers, with the imperfection that imples, there is no way to verify if a real estate agent truly is one or is nothing more than a salesperson or not even that, especially if they work for or have some real estate company that is hardly known by anyone.
 
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jd426

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Blue Collar Town in New Jersey
rogerjac said:
You see the same with cars. Multiple sellers using the same pictures of the same cars , sometimes (often) for differing prices. Everybody is looking for a referral fee (commission)
Click to expand...
Or the SAME Seller Selling the SAME large Higher Dollar Item in MULTIPLE PLACES/ Cities at the same time ..
An item with same pictures in geographically different areas , is a dead giveaway.. Just right Click IMAGE SEARCH .. its an amazing tool to catch these people .
Pictures dont lie
Also When you get a response of " selling for a friend, contact him/.her at 1234 @ Gmail.com .. you know its a Scam .
 
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playacaribe2

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johne said:
Nope....but I'm learning something new every day.Last night I asked "the seller" what's the address? He absolutely refused to give it to me without meeting me. I thanked him. Today I called another "seller" same house, he gives me the address (rather the street it is on which is good ebnough for me.) IDK...works for me.I'm going to think about how to use these various people on the same house to negotiate.
Click to expand...
So many possible twists and turns in this business.

The "seller" likely had any number of reasons not to give you the address.

A. He/she does not want you approaching the owner and cutting him/her out of a possible commission
OR
B. He/she now takes your offer to the owner who he/she may or may not know and says, I have someone who wants to buy your house
OR
C. Current tenant and Seller are in collusion together and the real owner is unaware of the situation
OR
D. The possibilities are almost limitless.

NB. The title fraud capital of the DR is Altagracia province. I lost track of how many times there have been legal wranglings over multiple titles in the courts in Higuey.


Respectfully,
Playacaribe2
 
A

Aguaita29

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Jul 27, 2011
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johne said:
There is no doubt in my mind that here in the DR (at least in the capital area) there is a unregulated business of individuals that are trying to sell a property that their involvement in the transaction is no more than a photo they have taken and put on social media like FB market place.I would assume the end play then is that they will get a commission to sell the house, or a more complex schemes of fraud. I don't know any of this for a fact, (just yet) but my many years of flipping houses makes me think ........
"what's wrong with this picture?" The posters are neither owners or owner's reps, or real estate agents.
In my work in the states I have looked at thousands of offerings over the years and one becomes an "expert" in reading between the lines and separating the wheat from the chaff. Recently I started looking at some stuff near the Capital. After a few weeks of on-line activity there are too many parts of the story, the pictures, the posting individuals, the photo manipulations, that concern me. There's something going on here that's not good. So, I will keep digging.

Any comments, experiences, opinions on my observations are very welcomed. Have a great day!
Click to expand...
Sometimes owners get people to help them sell stuff in exchange of a commission. That´s not illegal. You can get multiple people at the same time involved to make it easier to sell your car, house, property, electronics. The first one to get a buyer gets the commission. You don't need a license to help sell a property anyway.

It doesn't necessarily mean there's something shady going on. I know this guy who basically makes a living this way. He knows lots of people and they want him to help them sell. He posts all sort of pics, electronics, cars, motorcycles, houses for rent or sale, furniture, etc. People understand he doesn't own most of these items. He's just an intermediary.
 
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johne

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Aguaita29 said:
Sometimes owners get people to help them sell stuff in exchange of a commission. That´s not illegal. You can get multiple people at the same time involved to make it easier to sell your car, house, property, electronics. The first one to get a buyer gets the commission. You don't need a license to help sell a property anyway.

It doesn't necessarily mean there's something shady going on. I know this guy who basically makes a living this way. He knows lots of people and they want him to help them sell. He posts all sort of pics, electronics, cars, motorcycles, houses for rent or sale, furniture, etc. People understand he doesn't own most of these items. He's just an intermediary.
Click to expand...
Yer right "it doesn't mean there's something shady". However, deep thinking leads me to believe it "might", LOL, lead to something shady. Something illegal. Something unregulated that should be regulated (at least in the case of houses). It don't matter to me as I have now formed strong opinions and have decided what to do.So, please carry on.
 
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johne

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CristoRey said:
There is no better way for a local to scam a foreigner out of hundreds of thousands of dollars than the Dominican real estate business. Consider this both a warning and advice.
Click to expand...
Good advise/warning.For me, I see no opportunties that would compare to what can be done in the states. None.
 
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