CUCICBA - Buenos Aires Association of Realtors
A big step forward for the Buenos Aires real estate industry.
from La Nacion Newspaper (July 2009)
As of last July 2009, Buenos Aires now has an official organization to control and manage the operations of real estate agencies. The Association of Real Estate Agencies of Buenos Aires (abbreviated as CUCICBA in Spanish), was created in order to manage the registration of local realtors, which is already around 3,800, as well as provide services within the industry. Those who are not registered will not be able to practice.
The distinguished directors include Hugo Mennella, Roberto Ledo and Carlos Sotelo, president and first and second vice-presidents, respectively. The three men are excited to have finally made this great step for the real estate industry, and believe it will not only benefit society, but provide opportunities for growth for registered agencies, as well.
The association is non-government public agency, and it will control all professional acts within the industry, such as granting, denying, suspending, canceling and reinstating the inscription of registered agencies; any malpractice will put enrollment at risk.
Until the creation of this organization, Buenos Aires remained one of the few districts without such a governing body, and the association is aiming at providing hierarchy and a standard of professionalism across the map. A court has been formed of professionals with varied experience and backgrounds, and they will control the penalties of any malpractice, from a simple reprimand to complete removal from enrollment.
In all, CUCICBA consists of a board of directors, a court of ethics, a committee of accountability and an assembly composed of 35 representatives from the 51 different neighborhoods within the city. Committees will also be formed to tackle more specific issues.
Before the formation of this organization, any complaints within the industry had to be dealt with in the civil courts. Now, this organization can handle all such problems, bringing a cohesive, streamlined process to consumers. Until CUCICBA, everything was left to the discretion of the real estate agency, and agencies could easily launch, even with all the risks involved. Today, more control over the industry means more security for all interested parties.
The president of the association noted that one goal is to be an example of good management; nothing will be improvised. The only financial resources it has are those from member fees, which will be charged annually. The hope is that with increased — and more easily facilitated — activity, there will be a higher number of long-term investments.
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