Costa Rica Real Estate Brokers: How to Find a Good One

Costa Rica doesn’t license real estate brokers, so anyone can call themselves one. To find a good real estate broker in Costa Rica, start with three checks. First, the broker should be registered with SUGEF, the financial regulator, as anti-money-laundering law requires of anyone brokering property sales. Second, they should belong to a professional association such as the CCCBR or CRGAR. Third, they should have years of experience in the area where you’re buying. Just as important: hire your own independent attorney, and never let the broker be your only source of information.

This guide is for foreigners buying property in Costa Rica who want to choose a broker they can trust. It covers what to check, who must register with SUGEF, red flags, and what the broker should and shouldn’t do for you.

Choosing a broker	At a glance
License required?	No; Costa Rica has no mandatory real estate license
SUGEF registration	Required for real estate brokers and intermediaries under anti-money-laundering law
Associations	CCCBR and CRGAR, with training and codes of ethics
Foreign agents	Need legal residency and the right to work in Costa Rica
Who closes the sale	A Costa Rican notary, who must be an attorney
Your protection	Your own attorney, a registry title check and a reputable escrow

Credentials

What to Check Before You Hire a Real Estate Broker in Costa Rica

1. SUGEF registration

Costa Rica’s anti-money-laundering law (Law 7786, Article 15 bis) requires people and businesses that broker or intermediate property sales to register with SUGEF, the General Superintendency of Financial Entities. Registration isn’t a license or a quality rating, but an active broker who isn’t registered is breaking the law. Ask to see proof.

2. Association membership

The two best-known professional groups are the Cámara Costarricense de Corredores de Bienes Raíces (CCCBR) and the Costa Rica Global Association of Realtors (CRGAR), whose members also belong to the U.S. National Association of Realtors. Both require training and a code of ethics. Membership doesn’t guarantee good service, but it gives you a standard to hold the broker to and a body to complain to.

3. Legal status

Many brokers who serve foreign buyers are foreigners themselves. That’s fine, but they need legal residency and the right to work in Costa Rica. Someone working on a tourist visa may not be around if problems come up after the sale. See our guide to residency and the DIMEX card.

4. Local experience

Property markets in Costa Rica are very local. A broker who knows Tamarindo well may know little about the Central Valley. Look for several years of sales in the area you’re targeting, and ask for references from recent buyers you can contact directly. Knowledge of zoning plans (planes reguladores), water availability and building permits in that area matters as much as listings.

5. Language

Contracts, registry records and municipal documents are in Spanish. A bilingual broker makes negotiations and paperwork much easier, but have your attorney review the Spanish documents. See our guide to learning Spanish in Costa Rica.

SUGEF

Who Needs SUGEF Registration in Costa Rica?

Article 15 bis of Law 7786 covers several non-financial businesses and professions that can be used to move money. They must register with SUGEF and follow anti-money-laundering rules. They include:

• People and companies involved in buying and selling real estate, including brokers, intermediaries and developers.
• Casinos.
• Dealers in precious metals and stones.
• People or companies that provide any type of credit outside the banking system.
• Pawn shops.
• Trust service providers.
• Lawyers, notaries and accountants when they carry out certain transactions for clients, such as buying and selling property, managing client money or accounts, or buying and selling companies.

The registration requirements took full effect in December 2020. Unregistered businesses face fines. If you plan to work in any of these areas in Costa Rica, get advice from a Costa Rican attorney about your obligations.

Who does what

What a Broker Should Do, and What’s Up to You

A good broker will

• Ask about your budget, location, timeline and how you’ll use the property.
• Show you properties that match, and explain prices against recent sales in the area.
• Share the property’s registry number and survey plan (plano catastrado) early, so your attorney can check them.
• Flag known issues: access roads, water supply, zoning, building restrictions and anything near the beach in the maritime zone.
• Help negotiate the price and terms, and coordinate with the attorneys and notary.

Your job as the buyer

• Hire your own attorney. Choose one who doesn’t work for the seller or the broker. Your attorney checks the title, liens, taxes, survey and permits.
• Use a reputable escrow for deposits and the purchase price. Never wire money to a broker’s or seller’s personal account.
• Visit more than once, ideally in both the dry and rainy seasons, to check roads, water and flooding.
• Verify water and utilities in writing; a water letter from the local provider matters, especially in Guanacaste.
• Read everything before you sign, with a translation if needed.

Our guide to buying real estate in Costa Rica covers the full process, closing costs and taxes.

Red flags

Red Flags When Choosing a Broker

• They can’t show SUGEF registration, or they avoid the question.
• They push you to decide fast or to skip a site visit.
• They steer you to “their” attorney and discourage you from hiring your own.
• They ask you to send deposits to a personal account or an unregistered escrow.
• They’re vague about the title, registry number, survey or water supply.
• They work on a tourist visa or can’t explain their legal status.

Finding one

How to Find a Good Broker

1. Shortlist brokers who specialize in your target area, using association member lists, referrals and reviews.
2. Interview at least two or three. Ask about SUGEF registration, association membership, legal status, years in the area and recent sales.
3. Call references, ideally buyers who closed in the last year or two.
4. Ask how they’re paid and by whom, and get any agreement in writing.
5. Bring in your own attorney before you make an offer.

Thinking about a longer stay first? See our guides to retirement and long-term living, health insurance for residents and renting before you buy. Popular areas for foreign buyers include Tamarindo and Dominical.

FAQ

Costa Rica Real Estate Brokers: FAQ