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CommentsSONORA ENACTS REAL ESTATE LICENSE
Sonora became the first state in Mexico to pass a licensing requirement for real estate agents, which may include criminal background checks in select U.S. states, including Arizona. The law will take effect in the fall, state officials said. Individuals selling real estate without a license could face fines of up to $5,000, and agents will be required to undergo training in real estate law and regulations.
About 70 percent of Sonora’s foreign real estate investors are from Arizona. Last year, Sonora received more than $550 million in foreign investment. About 55 percent of the state’s new construction is in Puerto Peñasco, or Rocky Point. The state ranks third out of 31 states and Mexico City for foreign investment. For more info, visit www.sonoraturismo.gob.mx.
