Panama is one of the few countries that has regulation of real estate brokerage activity. This profession constitutes an important element for the economic development of the country's real estate sector.
Through Decree Law No. 6 of July 8, 1999, which regulates and regulates the profession of Real Estate Broker, also establishes the Technical Board of Real Estate in the Ministry of Commerce and Industries, establishes the obligation to have a license to be able to act as an intermediary in a real estate transaction. The Real Estate Technical Board is the government entity in charge of ensuring faithful compliance with the Decree Law.
The regulation establishes the definitions, requirements for obtaining the real estate broker license, validity of the licenses, the parameters for filing complaints. , among others. Acobir has commissioners, principal and alternate, appointed by Executive Decree, who represent us in the monthly meetings of the Real Estate Technical Board.
The role of the real estate broker is accompanied by the support of a code of ethics (Resolution No. 002-2001 of July 2001), which guarantees good practices and the general conduct of real estate brokerage professionals. The broker members of Acobir have as part of their obligations, to abide by the statutes, code of ethics and regulations, thus reinforcing the principles and values that highlight a professional.