23 July 2008

Mexico… A Land of Opportunity

By John K. Glaab, CIPS


A story in the San Jose, California Mercury news carried this headline: ”Boomers take their equity and run to Mexico.” Baby Boomers, born between 1946 and 1964 number 77.8 million in the United States. They are looking for retirement and second home properties as never  before. Most want to be somewhere that can be reached by air in only a few hours.


Mexico, according to publication International Living, now rates Number 1 as a place where  retirees want to purchase property. The country replaced Panama as Number One. That country is now ranked number four internationally. This makes Mexico a place where Realtor® can turn to help overcome the empty place in his bank account due to the down turn in the U.S.



Mexico’s economy has never been stronger. This is especially true in the coastal towns, popular with by U.S. and other international buyers. A study carried out by Banco Nacional de Mexico (Banamex) reports Quintana Roo (Cancun and the Mayan Riviera) grew 8.4 % in 2007 and Baja California Sur (La Paz, Loreto and Los Cabos) grew 7.2%.


In 2006, The Mexican Association of Real Estate Professionals (AMPI) and the National Association of Realtors® signed a joint venture. As a result of this AMPI members are now members of NAR. The blue NAR logo is popping up in the offices of Realtors® throughout Mexico. AMPI members are also taking advantage of educational programs available through NAR. Among the most popular are the TransNational Certification Accreditation and Doing Business in Mexico. A few years ago, the country with the largest representation receiving the Certified International Property Specialist (CIPS) acredidatioon (27 designees) was from Mexico. The point is that Mexican Realtors® are now better trained and educated and ready to

serve the international market. They are now equipped to serve clients U.S. realtors® send to them. In return a commission is guaranteed when there is a sale.


Buyers who want a retirement or second home in Mexico are now much better informed. They can go online and search what is involved. Foreigners now understand that the Bank Trust is NOT a 50 year lease. As the story in the Mercury News suggests, there is equity out there looking for Mexican property


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