Buyer Beware

Investing your money in anything can be risky. When it comes to investing in foreign property, the risk factor is heightened due to differences in language, diverse cultural contexts, and an abundance of real estate agents. How do you know whom you can trust? How do you know the agent will put your interests first and foremost in this important, expensive and transformative decision? Three factors come to mind when looking for a real estate agent who can best suit your needs.

1)   Integrity

The simple definition of integrity is a person who does what he says he will. His word is his truth. Will he email you back when he said he would? Will he provide you with promised information in a timely manner? If you want to invest in Ecuadorian property, you will discover there are many people who make lots of promises. Integrity is what separates the empty promises from the fulfilled realities.

One real estate agent who will actually deliver on those promises is John Vollmecke. He values integrity above all else, and he puts your interests first. He requires all clients to review and sign a multi-paged disclosure that outlines the roles of the agent and the investor. Personally, he knows what it’s like to invest in and develop Ecuadorian property. He understands what it requires to uproot and create a life here. Most importantly, he will be honest with you, and he will follow through on his word. 

2)   Licensure

Lots of people want to invest in Ecuadorian property right now. Google “Ecuador real estate agents” and you can view pages and pages of listings. Did you know that Ecuadorian law    demands real estate agents be licensed if they want to sell property in this country? There are  countless stories of individuals who decide to change their lifestyle, move down to Ecuador, and  become a “real estate agent” without any licensure or actual experience. When you explore the websites of various agents, you really must be diligent in investigating the agent’s history.  

Some websites seem polished but don’t actually have “boots on the ground” experience.Demanding a licensed real estate agent is not only a smart decision; it’s also the appropriate legal decision. Licensed realtors possess greater knowledge, skills and experience that can help you easily locate ideal investments.

John Vollmecke acknowledges the importance of having experience on the ground. His wife and he moved here in 2013 and first lived in Manta, then moved to Jama. Soon, they will be relocating to Canoa. He works predominantly with properties along the coast, but also his territory also extends into the interior area. He works in areas where he knows the local fishermen, the grocery store owners, the bankers. Living in these cities and towns ensures a deeper understanding of what life is really like there. 

3)   Experience

Finally, when you choose a real estate agent, you must ask specific questions about their careers to gauge how experienced they actually are. You are investing a portion of your assets with the hope of transforming a dream into a reality. You must be diligent as you select an agent. Don’t be swayed by the smooth talkers, the big promises, and the exorbitant requests. Choose someone who looks out for your best interests, not their own. This goes for the developers as well as the agents.

John Vollmecke worked as a full-time agent from 1977-2013 in the United States, primarily in the Phoenix/Scottsdale area. The identifying and selling of idyllic property is his life work. Here, in Canoa, Jama and Bahia de Caraquez, along with other coastal and interior properties, he uses his experience to build relationships with his clients and deliver on his promises. Most importantly, he understands the land, and he knows the local Ecuadorians. He values integrity, he is licensed, and he has decades of domestic and international real estate experience. He looks forward to learning more about you and figuring out how he can help turn your dream into a reality.

Quick Tips and Questions to Ask 

1)   Meet the potential Realtor™ in person, if possible.

2)   Listen to close friends who have experience investing in Ecuador

3)   Choose a full time agent

4)   Ask about previous experience

5)   Ask where the agent has lived

6)   Make sure he/she is licensed

7)   Check the current property listings on the websites

8)   Look for integrity in their processes and procedures