Opening a Real Estate Company in Costa Rica

By Lester Núñez

I originally came to Costa Rica from Victoria, British Columbia where I was licensed as a broker and worked both residential and commercial real estate sales for over fifteen years. My interest grew in Costa Rica because of the country’s weather and culture. Bascially, I guess I just wanted to seek my Hispanic roots.

My plan was to open a real estate office in Costa Rica. Shortly after arriving I met my present partner, Mercedes Castro, who had been working as an independent real estate agent here. My goal was to provide excellent service combined with professionalism and integrity, just like North Americans are accustomed to back home. However, much to my surprise I soon discovered that the local real estate scene was very disorganized. There was no licensing of agents, no formal training and little regulation. Anyone was permitted to sell anything. Now all of this has changed.

I quickly aligned our RE/MAX franchise with the Costa Rican Chamber of Real Estate (CCBR). My partner and I have worked very closely with them over the last five years to formalize real estate training and licensing as in the States and Canada. This has mainly been achieved by educational courses, creation of an Internet-based multiple listing system and licensing requirements.

The Costa Rican Chamber of Real Estate in conjunction with UNED University have created a twenty-two unit course which takes six months to complete and trains future agents.

Multiple listings were also created to further modernize the local real estate profession. The local multiple listing system is now affiliated with MLS Today which has its base in the U.S. and Canada. Combine this with RE/MAX’S worldwide multiple listing system and both the agent and client are now better off. Also, there is legislation pending to regulate the real estate business. All the government has to do is give its approval.

It initially took us a couple of years to get our business off the ground. Our international listings and advertising have been our “bread and butter.” It is well-nigh impossible to make a living off the local market alone.

I love Costa Rica because of the climate, inexpensive health care, tax benefits for foreign residents, Spanish culture and much more. You really couldn’t get me to return to Canada for anything in this world.

Central Pacific and Jaco Beach Real Estate
One Jaco Resort and Condominiums