What's the best way to choose a real estate agent in Panama?

The best way to choose a real estate agent in Panama would be to request his or her license number. In many states in the U.S., such as Florida for example, it's a felony to practice real estate without a license, which is punishable by jail and fines. A license is also mandatory in Panama, but the law is loosely enforced. It's obviously hard to come up with precise figures, but I suspect the majority of so-called "agents" operate without a license, without experience and...

The best way to choose a real estate agent in Panama would be to request his or her license number. In many states in the U.S., such as Florida for example, it's a felony to practice real estate without a license, which is punishable by jail and fines. A license is also mandatory in Panama, but the law is loosely enforced. It's obviously hard to come up with precise figures, but I suspect the majority of so-called "agents" operate without a license, without experience and without any sense of ethics. Especially the "independent agents" who don't even carry a business card (to better cover their tracks). If they do not carry a real estate license (a blue plastic card, similar to a credit card) you'd better move on... Please note however that an agent associated with a bona fide real estate company is covered by the company's license and is not required to be individually licensed. Those usually carry a business card with the company logo. Be especially wary of an agent demanding a fee: commissions are paid by the sellers, never by the buyers! 

When choosing a real estate agent in Panama it would be wise to set up a time after business hours to speak on the phone or Skype to find out the agent's qualifications, experience and the product of interest. 

When choosing a real estate agent in Panama it would be wise to set up a time after business hours to speak on the phone or Skype to find out the agent's qualifications, experience and the product of interest. 

The best way to choose a real estate agent here is to interview your prospective property prospector (alliteration, I love it) by setting up an appointment at your convenience. Live is always preferred (as it gives the ability to check out their office, detect non-verbal "tells", etc.) but many will also agree to Skype Video Conferences and Phone Chats.

If they have similar work ethics as you and a confident personality, then you are in the right place.

If they rub you...

The best way to choose a real estate agent here is to interview your prospective property prospector (alliteration, I love it) by setting up an appointment at your convenience. Live is always preferred (as it gives the ability to check out their office, detect non-verbal "tells", etc.) but many will also agree to Skype Video Conferences and Phone Chats.

If they have similar work ethics as you and a confident personality, then you are in the right place.

If they rub you the wrong way, trust your instincts and give it some real thought before you select such a person. 

Like my Mother used to say, "If you smell a tiger, don`t wander into the cave to confirm it with your eyes. You may not get them back."

The best way to choose a real estate agent in Panama would be to get their license (because many don't have licenses) and see if they have an office and a good reputation.

 

There are many independent brokers and real estate agencies but the best way to find a good one is to see from the beginning which one responds to you quickly, gets to understand what your needs are, and then, based on that, starts their property search and always at the same time...

The best way to choose a real estate agent in Panama would be to get their license (because many don't have licenses) and see if they have an office and a good reputation.

 

There are many independent brokers and real estate agencies but the best way to find a good one is to see from the beginning which one responds to you quickly, gets to understand what your needs are, and then, based on that, starts their property search and always at the same time looks out for your interests.

The best way to choose a real estate agent in Panama may very well be through a reference from the US Embassy, a recognized attorney, or direct from ACOBIR.

 

In English, ACOBIR stands for "Panamanian Association of Real Estate Brorkers and Developers."  According to the phone book, their phone number is: +(507) 228-7840, in Panamá City.  ACOBIR handles everything related to realtors, and are very strict...

The best way to choose a real estate agent in Panama may very well be through a reference from the US Embassy, a recognized attorney, or direct from ACOBIR.

 

In English, ACOBIR stands for "Panamanian Association of Real Estate Brorkers and Developers."  According to the phone book, their phone number is: +(507) 228-7840, in Panamá City.  ACOBIR handles everything related to realtors, and are very strict about it.  Only licensed agents are allowed to market properties.  You should avoid non-licensed agents.

What Chris Frochaux from Semusa said is correct. You must ask for a license and be aware 95% of US citizens claiming to be a Real Estate broker with a license, are not!

 

It this a felony? Yes, to falsely claim to be a broker or an agent, is a felony in Panama. But how to fight them if something goes wrong? Many times people are talking over a drink in a bar or restaurant about their plans to buy property in Panama, many times somebody comes to them, saying...

What Chris Frochaux from Semusa said is correct. You must ask for a license and be aware 95% of US citizens claiming to be a Real Estate broker with a license, are not!

 

It this a felony? Yes, to falsely claim to be a broker or an agent, is a felony in Panama. But how to fight them if something goes wrong? Many times people are talking over a drink in a bar or restaurant about their plans to buy property in Panama, many times somebody comes to them, saying that he is a real estate agent and offers his help. Lucky us, he speaks English, he is an American, so we can trust him...... Like to know how many people came to us in the last five years, asking us to try to get their down payments back from that "friendly" realtor that sold them a home which was not for him to sell? Better a less English speaking Panamanian licensed realtor, than just somebody you met in a bar. Be careful; ask for a license.

 

The best way to choose a real estate agent in Panama, after you gather a list of real estate agents you feel you may want to deal with, is simply to call them and ask them a question.  Some will respond promptly and with good information, and some will not.  Some may not even follow up with you at all.  Based on the response you get, you can get a good idea of how responsive and good the agent is and if they are concerned primarily with your well-being.
 
In Panama...

The best way to choose a real estate agent in Panama, after you gather a list of real estate agents you feel you may want to deal with, is simply to call them and ask them a question.  Some will respond promptly and with good information, and some will not.  Some may not even follow up with you at all.  Based on the response you get, you can get a good idea of how responsive and good the agent is and if they are concerned primarily with your well-being.
 
In Panama there are many well-known real estate agencies in which the people who take care of you are employees.  Many times if you’re not ready to buy right away, employees may feel that you are a waste of their time and not follow up with you.  Employees are not as concerned about giving good service and establishing a long-term relationship, as would be the owners of the agency.

The best way to find a real estate agent in Panama is through word of mouth. There is nothing better than a personal recommendation based on experience. As others may have mentioned, there are a lot of consultants working in real estate in Panama who are not legally permitted. A few points:

The best way to find a real estate agent in Panama is through word of mouth. There is nothing better than a personal recommendation based on experience. As others may have mentioned, there are a lot of consultants working in real estate in Panama who are not legally permitted. A few points:

There are a multitude of brokers and firm in Panama to choose from. Choose wisely!