Are you in the process of selling a property here on the Riviera Maya? Are you feeling uncertain about the feedback you are getting from your Riviera Maya real estate agent? Does it feel like it is taking longer than it should to get your property sold or even get a written offer?
Is it the market? Maybe it’s your agent….
To be fair, while it’s tempting to try to compare “time on market” to that of vacation home sales in the U.S., it’s just not a comparable real estate ecosystem. On average, U.S. vacation homes tend to sell more quickly than properties on the Riviera Maya. Much more quickly.
At one time, it was estimated that the average “time on market” for a property in Playa del Carmen was three years. However, Quintana Roo’s real estate market is showing signs of acceleration—particularly in high-demand areas—but factors such as political instability, international buyer interest, exchange rates, tourism growth, and market saturation all affect this dynamic.
In short—it’s complicated.
Before You Blame the Market
Table of Contents
- 1 Before You Blame the Market
- 1.1 Does Your Agent Have Proper Licensing and Certification
- 1.2 Consequences of Contracting with an Unlicensed Agent
- 1.3 Is Your Agent Affiliated with a Registered Brokerage
- 1.4 Has Your Agent Provided You with a Comprehensive Marketing Strategy
- 1.5 What Is a “Pocket Listing”?
- 1.6 Why a Pocket Listing Can Hurt Your Sale
- 1.7 Does your Agent provide Effective Communication & Regular Updates
- 1.8 Does your Agent have Local Market Expertise
- 2 Other Things to Consider
- 3 Conclusion
What makes selling property on the Riviera Maya even more complicated are the number of unlicensed and—perhaps worse—unqualified individuals acting as real estate agents in the state. The Mexican Association of Real Estate Professionals (AMPI) recently reported that there are more than 10,000 individuals operating as real estate advisers in Quintana Roo.
According to the State Registry of Real Estate Agents maintained by the Secretaría de Desarrollo Territorial Urbano Sustentable (SEDETUS), of those 10,000 only 960 are properly accredited and licensed by the state.
So, let’s start there — by looking at whether your Riviera Maya real estate agent has the proper licensing and certification.
Does Your Agent Have Proper Licensing and Certification
In Quintana Roo, real estate agents are legally required to hold a valid license issued by the Secretaría de Desarrollo Territorial Urbano Sustentable (SEDETUS). This mandate, established in March 2015 and reinforced by reforms in July 2021, empowers SEDETUS to sanction agents operating without proper accreditation, thereby protecting clients from unqualified practitioners. It should go without saying that foreign nationals must also have legal residency and authorization to work in Mexico.
Why is this so important?
Consequences of Contracting with an Unlicensed Agent
- Limited Exposure: Unlicensed agents are less likely to use a website and the marketing tools necessary to promote your property in this competitive market. An unlicensed agent trying to “fly under the radar” will have limited resources to market your property and not attract the attention of the authorities.
- Invalid Transactions: Contracts facilitated by unlicensed agents may be deemed legally unenforceable, jeopardizing your ownership rights.
- Lack of Accountability: Without regulatory oversight, unlicensed agents are not held to professional standards, leaving clients vulnerable to malpractice.
- Risk of Fraud: There have been instances where properties were sold multiple times by unauthorized individuals, leading to complex legal disputes.
- Financial Penalties: Unlicensed agents face fines up to 1,000 times the minimum wage in Quintana Roo.
- Criminal Charges: Operating without a license is a criminal offense, potentially leading to blacklisting from the industry and even imprisonment.
Protect yourself by verifying your agent is listed in the official SEDETUS registry. SEDETUS Licensed Real Estate Agents Click on “PADRÓN” to see the most up-to-date registry of licensed agents.
Ask for proof of the current license which must be updated annually and be sure to engage your own real estate attorney to oversee transactions and ensure compliance with local laws.
While not mandatory, certification from the Asociación Mexicana de Profesionales Inmobiliarios (AMPI) is highly regarded. AMPI sets professional standards and offers training, enhancing the credibility and expertise of its members. Unless your real estate advisor is a member of AMPI, they cannot market themselves as a REALTOR® or use the trademarked designation.
By working with licensed professionals, you safeguard your investment and ensure a legally sound transaction in Quintana Roo’s real estate market.
Is Your Agent Affiliated with a Registered Brokerage
While not required, listing your property for sale with a real estate agent backed by a registered brokerage firm is to your advantage as a seller. An established brokerage provides their agents with essential legal support, marketing resources, and market oversight while ensuring adherence to industry standards and ethical practices.
Working with an agent backed by a recognized brokerage also adds an extra layer of accountability and professionalism to your property transaction.
Has Your Agent Provided You with a Comprehensive Marketing Strategy
An effective marketing plan is vital to attract potential buyers and achieve a successful sale. Your agent should offer a strategy that includes:
- Online Listings: In this day and age, marketing your property online is absolutely essential. Having a digital listing on your agent’s (or Broker’s) website is the bare minimum you should expect for getting your property seen and sold. If your agent or your agent’s Brokerage does not have your property listed, you need to start asking questions.
- Professional Photography and Videography: High-quality images and videos are essential to showcase your property’s features. Virtual tours can provide immersive experiences for remote buyers. Your agent should contract a professional photographer to help show your property in its very best light to attract buyers.
- Social Media Marketing: Utilizing platforms like Facebook and Instagram to reach a broader audience of potential buyers is certainly part of any competitive real estate agent’s marking plan. Your agent—or better yet, his/her assistant—should be regularly marketing your property in local real estate Facebook groups heavily trafficked by not only potential buyers but also other local real estate agents.
- Open Houses: Organizing an Open House to allow a group of potential buyers to view the property in person is a very common and expected marketing strategy in the U.S. and Canada. It is considerably less effective here and sometimes tricky to coordinate. Many properties marketed for sale are also offered for rent, so scheduling an open house—ideally during high season—is difficult to arrange.
- Brokers Open: What can and should be organized is a Brokers Open. In this way, your listing agent can invite agents from the Riviera Maya real estate community to tour the property so that they, in turn, can offer it to their clients.
- Signage: “For Sale” signs are not as common here as they are in the U.S. and Canada but they still have a place in a comprehensive marketing plan. Some communities restrict signage and your agent should be able to tell you what the rules and best practices are for your location. For Sale signs should have the agent’s name, the name of the affiliated brokerage, a contact number, and a QR code that will direct the potential buyer to the digital listing on the agent’s website. It is not common practice to include the listing price on publicly facing signage.
All of these elements are part of a robust marketing plan designed to maximize exposure and attract qualified buyers. If your agent is not applying all or at least some of these marketing strategies, your property is most likely being kept as a “pocket listing.”
What Is a “Pocket Listing”?
A pocket listing is when a real estate agent markets a property privately rather than listing it publicly on the open market (like on public websites or social media). Instead of advertising the property widely, the agent keeps it “in their pocket,” only sharing it with a limited group of potential buyers—usually through their personal network or agency contacts.
Why a Pocket Listing Can Hurt Your Sale
- Limited Exposure: Your property won’t be seen by the largest possible audience. Fewer eyes on your listing usually means fewer offers — and less chance of getting the best price.
- Reduced Competition: When multiple buyers know about a property, you can sometimes create bidding wars or at least competitive interest. Pocket listings kill that momentum because the buyer pool is artificially tiny.
- Longer Time on Market: With fewer potential buyers, it can take much longer to find someone who’s interested—if at all.
- Risk of Undervaluing Your Property: Since the property isn’t tested against the broader market, you might accept an offer that’s lower than what you could have gotten through full exposure.
- Possible Conflict of Interest: Sometimes, agents push pocket listings because they can represent both the buyer and the seller—keeping the full commission—rather than focusing purely on what’s best for you as the seller.
If you’re trying to get the best price and the fastest sale, you want maximum exposure. A legitimate, professional listing agent will create a full marketing plan, list your property widely, and bring you as many qualified buyers as possible—not keep your listing in their back pocket.
The right Riviera Maya real estate agent will create a full marketing plan, list your property widely, and bring you as many qualified buyers as possible—not keep your listing in their back pocket.
Does your Agent provide Effective Communication & Regular Updates
As the majority of sellers are marketing their property for sale from a remote location, communication with your representative is essential. Your agent works for you and should strive to maintain open lines of communication, providing regular updates on the sale of your property. Communications should include:
- Marketing Efforts: Details on advertising campaigns and outreach activities.
- Buyer Interest: Prompt and honest feedback from all showings and inquiries.
- Market Conditions: Insights into local real estate trends that may affect your sale.
Consistent communication ensures you’re informed and can make timely decisions throughout the selling process.
Does your Agent have Local Market Expertise
While it is essential to work with a licensed Riviera Maya real estate agent, it is just as important to work with an agent who is experienced in your local market. A wet-behind-the-ears real estate agent with a freshly-minted real estate license will do you no good without the experience and local market expertise to back up the certificate.
Ideally, newly licensed agents should get experience as a Broker’s assistant or as a “Junior Agent” under the guidance and supervision of an experienced agent before they attempt any transactions on their own.
An experienced agent with in-depth knowledge of the Riviera Maya real estate market can provide valuable insights that a new agent—even one with a license—will not. Some of these critical skills include:
Proper Pricing Strategies: Setting a competitive price based on comparable properties and the actual sale price—not just what they have been listed for—of similar properties that have sold over the past few years. Only an agent or broker who has successfully closed many transactions will have those numbers.
Buyer Preferences: Understanding what local and international buyers are seeking —their likes and dislikes—based on years of experience working with a wide variety of buyers in a particular market.
Neighborhood Trends: Identifying emerging areas and investment opportunities based on measurable interest and completed sales is something only an experienced agent will be able to do.
This expertise enables your agent to position your property effectively and attract serious buyers.
Other Things to Consider
Is your Agent Supported by with a Reputable Real Estate Attorney
Navigating the legal aspects of a property sale in Mexico can be complex. Your agent should collaborate with a reputable real estate attorney to ensure:
- Due Diligence: Verifying property titles, zoning regulations, and identifying any liens or encumbrances.
- Contract Review: Ensuring all agreements are legally sound and protect your interests.
- Closing Process: Facilitating a smooth transaction through proper documentation and compliance with local laws.
While you are not in any way required to utilize the services of your agent’s attorney—and there are certainly circumstances in which you might not want to—knowing that they have access to competent legal advice should give you peace of mind.
Did your Agent provide a Transparent Commission Structure
Understanding the commission structure is essential. In Mexico, real estate agent commissions typically range between 4% and 8% of the property’s sale price, plus a 16% value-added tax (IVA). This is paid by the seller. Your agent or their affiliated Brokerage must provide you with a legal factura following the sale. Make sure this is confirmed in advance.
The exact commission rate is negotiable and should be clearly outlined in your Listing Agreement with the agent. The average commission rate for a resale of a Riviera Maya vacation property is 7%.
Agents accepting lower compensation for their work are sometimes putting themselves and their clients at a disadvantage. Like it or not, attracting the interest of other agents and brokers is definitely affected by the commission offered. A low commission rate may also mean that your agent will not spend as many resources for proper marketing and advertising.
In other words—You get what you pay for.
Conclusion
When selling your Riviera Maya property, partnering with the right real estate listing agent is crucial. Listing with a licensed and experienced Riviera Maya real estate agent not only facilitates a smoother transaction but also ensures your interests are well-represented throughout the process.
Need help verifying your Riviera Maya real estate agent or finding the right professional to sell your property? Feel free to reach out—making informed decisions today will protect your investment tomorrow.
If you found this article helpful, you will also want to read:
What You Need to Know About Real Estate Licensing Laws in Quintana Roo
