Regulation of real estate agents and agencies
Unlike Europe and North America, real estate agents in Chile are not regulated. Anyone can become a real estate agent. However, there is a law to regulate the profession, which was approved by the Chilean Chamber of Deputies in 2018, and is currently at second reading in the Senate. However, it will still take a few more years before it is implemented.
However, there are corporations that bring together real estate agents and professionals in the construction sector. The two most famous are:
- ACOP, the “Cámara Nacional de Servicios Inmobiliarios”, (the national chamber of real estate services),
- COPROCH, the “Asociación Gremial de Corredores de Propiedades de Chile”, (the Corporation of Real Estate Agents of Chile).
For this reason, we recommend that you ask agents if they are affiliated with one of these two corporations, or if they have taken a course in one of them, which gives them a much higher technical background than most agents.
French real estate agents in Santiago and Chile
The most serious French-speaking real estate agency in Santiago is Bretagne Immobilier. Its founder, a Breton, has developed a good knowledge of the districts that appeal to the French, and of the price levels, both for rent and for purchase. We highly recommend it!
The agency also advises companies that wish to rent or buy commercial or industrial premises in Santiago, as well as people who wish to invest in Chile.
Points to note when renting a property
In Chile, most of the time, a residential lease has a term of one year, tacitly renewable for the same period. It should be noted that you cannot leave at any time during the term of the lease, as can be done in France by giving notice. Here, you must return your apartment at the end of the contract, notifying the landlord of your intention not to renew the contract on time. It is possible to include a diplomatic clause that offers more flexibility. Generally, this is activated from the second year onwards, and is valid in specific cases, such as dismissal, refusal to grant a visa, or the need for the company to repatriate you from Chile.
Points to note when buying a property
In Chile, the purchase-sale contract does not act as a transfer of ownership, as is the case in France. This contract should be registered with the Real Estate Register to validate the change of ownership.
This requires a certain level of formalism, and you will need to conduct a title study before buying, to ensure that the current owner is the owner, and that there is nothing to prevent the sale.
The associated payment must be made via a deposit with the notary, which will only be released to the seller when the property is registered in the buyer’s name.
Make sure you are assisted in this task by a lawyer who is competent in this area.
For more information, visit the website : https://www.bretagne.cl/