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Finding a Real Estate Agent (Part II) |
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It's not the coffee that makes some buyers nervous |
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By Steven Rich In the Panama real estate market, the "everyone for himself" commission system breeds distrust, dishonesty, and sometimes unethical behaviour. Panama has seen real estate agents stealing sellers, buyers, and property listings from other agents. Sellers Can Be Dishonest Any real estate agent can tell you war stories of the many times they have negotiated, written up contracts, and followed up with the closing process. Many times after all this work either the deal fails to close or the buyer and seller make a side deal to reduce the sales price and split the difference in the commissions which won’t be paid. Indecisive buyers who say they want one type of property (like mountains and rivers) but change their mind after days in the mountains and now want beachfront are common in this industry. Real estate agents are in a unique position trying to get buyers and sellers to agree on price and terms. They are a "middle man" caught between conflicting interests and parties sometimes generated by pure greed, which is very frustrating. Sellers often try to get out of paying the commission. Buyers sometimes pretend to show no interest in a property and later approach the seller for a discount with no commission to the agent. Whom can you trust? Will I Be Paid? While there is no M.L.S (Multiple Listing Services), many agents will equally split the commission. Half of five percent is better than nothing. Most foreigners think that the majority of licensed real estate agents in Panama are Realtors. That is not true. A licensed real estate agent must first become a member of the Panamanian Association of Real Estate Brokers and Developers (ACOBIR) and then apply to be a member of the National Association of Realtors (NAR). After sending in a form and paying an annual fee of $50, the agent is now a Realtor.
Exclusivity At best, an agent might get a limited commission agreement where the agent competes against the seller and other real estate agents to see who finds a buyer first and earns the commission. Turist sharks Pity the poor real estate agent who ends up becoming a free tour guide. Some real estate offices charge a fee to show properties with credit towards any purchase. Hot market Buyers Jitters Where to Complain The Ministry of Commerce and Industry (Ministerio de Comercio e Industrias) is responsible for issuing real estate licenses under their Technical Real Estate Board. Anyone can denounce an agent by calling (507) 360 – 0600. If a licensed agent is a member of the two voluntary real estate brokers associations in Panama, you can complain to those groups: The National Union of Real Estate Agents (Unacobin) and ACOBIR. While not every so called "real estate agent" is licensed, there are exceptions in the law allowing for promoters and consultants to show properties. However, only a licensed real estate agent (or a licensed attorney) can write legally binding contracts for purchasing real property in Panama. Steven Rich is Marketing Manager for Offshore Legal Services |
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Martial arts thriving in the city |
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By Kevin Reilly My martial arts Sensei (Japanese for "Teacher") used to encourage us to "always find a place to train wherever you travel". And since I take very seriously what my Sensei said, I always try to find a Dojo ("school", or "Place of The Way") when I travel. In Panama, there are numerous schools and styles. Here are a few: Aikido, "The Way of blending energy" is probably one of the fastest-growing traditional Japanese martial arts in the world and I found five places to practice this beautiful and potentially powerful art in Panama. The first, led by Gabriel Vega, Sensei is held in a wonderful, huge Dojo with great tatami ("mats") in a fairly hidden location: The 8th floor health club of Hospital de las Americas on Via España. Iaido, "The Way of drawing the sword", is a beautiful and disciplined art not found in many places. Here in Panama we’re lucky to find this art being taught by the very knowledgeable Jorge Noriega, Sensei at the Hospital Americas 8th floor Dojo.
Karate is known by almost everyone, since Bruce Lee made such a tremendous contribution to the art. Having evolved greatly in the West, you can find almost as many styles as there are teachers. "Shotokan" is the largest and best-known Japanese karate style in the world.. Developed by "The Father of Modern Karate", Gichin Funakoshi, Sensei when he brought the art from Okinawa to Japan in the 1950s. "The Father of Karate" in Panama is Arturo Worrell, Sensei who teaches in a roomy Dojo with mats in Los Angeles. Juan De Leon, Sensei teaches "Ozawa-ha Shotokan" in two locations, Paitilla and San Francisco, with wood floors and an emphasis on competition. Nippon Koryu Karate-do, a very similar but non-competitive style to Shotokan, which I will be teaching at the Hospital Americas Dojo and in the Ciudad de Saber gymnasium. Goju Ryu Sensei, Guillermo Moreira, has a small but dedicated group of students who train in Parque Omar (call 6593- 0740). Shito Ryu is at Commercial Omni Loc 8, Villa Zaiti.
Kendo is also taught by Noriega Sensei. This is the competitive art derived from the sword where students wear full protective gear ("bogu") including face masks, and develop incredible speed and power attacking their opponents with bamboo swords ("shinai"). Kenjutsu is the traditional Japanese Samurai "Art of The Sword". There will soon be classes of the Itto Tenshin Ryu sword style for a few serious adults at the Hospital Americas Dojo. For information: kevcosta07@gmail.com |
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Expat profile #3 |
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World traveler hangs up his boots in Panama |
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By David Young Take a pin, stick it in a map of the Americas, Europe or large sections of the Far East from China to India and you will probably hit on a country that Joseph Ennis has worked in, or passed through. At the least, it will be next to one where he has trodden the ground and like a man on a time machine witnessed first hand, major political changes. Now, armed with a beautiful Panamanian wife and daughter, and a thriving Spanish language school, his major wandering days may be over. But who knows? He has used his teaching skills in 51 countries, and there are lots more available. But his love of Panama shines through. Having traveled throughout Latin America he is convinced that "The Panamanians I have in my life are hard-working, responsible and, unlike most Latinos, surprisingly punctual."
Born in Newfoundland, an island on the east coast Canada, he studied psychology and political science at Memorial University, before beginning his travels in Canada It is a country where travelers think big. It is the world’s second biggest country (over 5,500 km wide) with the world’s longest coastline, over 244,000 km. He traveled the width, and after a year in the biggest city, Toronto, with a population almost double the size of the total population of the whole of Panama, he spent another five years in Vancouver, and Victoria on the Pacific Coast. It was there that his interest in Latin America was born. He worked with refugees from countries like El Salvador, Nicaragua and Guatemala who has suffered torture and abuse, before and developed a lasting empathy for their people, and a desire to see for himself. He hitchhiked through central and South America, finally landing up in Ecuador, where he studied Spanish. As he criss-crossed the continent, he taught English to earn a living, and finance his occasional return visits to Newfoundland to visit his family. His travels widened to encompass Europe, and witnessed some of the turmoil in Eastern Europe, including the downfall of the Romanian dictator, and watched miners attacking communist officials, and handing out brutal justice. Back in South America, via Canada, he was present at demonstrations in Ecuador, felt the effects of tear gas, and watched as mobs beat up police in violence-torn Columbia. His travel compass next led him to Egypt and the Middle East before landing in India where he experienced the cultural shock that hits most westerners when they first arrived, and discovered poverty even deeper than in Latin America. But it was in India that his life was reshaped as he followed the Spiritual Trail, and became exposed to new ways of viewing the world and inner spirituality. He met the Dhalai Lama, and saw Mother Teresa at her center in Calcutta. He attended Buddhist retreats before moving on to Sri Lanka. The tour of the sub-continent permanently changed his life. Moving on to Vietnam, he was exposed to the changes in the country after the disastrous War, and then arrived in Hong Kong in time to see the handover from British to Chinese rule. His final stint of English teaching came in Beijing, under the umbrella of the government run Chinese Daily that operated an English language school. Seven years ago, his travels came close to their end. After one year in Costa Rica, he arrived in Panama and set up his Spanish Language school and meeting centre for expats from all over the world. His experiences with orthodox teaching methods, shaped the way the school developed, steering away from the traditional disciplinarian formats to a more informal creative learning environment, based on the individual learning preferences of the student. From a pool of teachers, students are encouraged to acquire a teacher who provides the social chemistry best suited to their needs, and the school is without the heavy-handed disciplinarian approach of many educational establishments. It seems to work. Almost 50 percent of the students who pass through the school not only become proficient in the language, but also acquire a love for the country, its people and its culture, and return to stay long term. |
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Chevy is a psychologist, working to reduce family violence, but many of her off duty hours are spent with her hands deep in another kind of mud, potter’s clay. Thirteen years ago, she first made contact with clay, when she saw a potter at work in Clayton. When she touched the soft yielding mixture she realized that a new element had come into her life, and she began to experiment making first masks, with an Afro theme, and later small clay sculptures. Her hobby quickly became a business, and today she has a steady stream of repeat customers who visit her home to chose from her latest works, or to request a specially created piece. None of her works are ever repeated, and her models are people she sees in the bustling life of the city or in the Interior. 
Her work has been displayed in galleries across the city, and she attends fairs and special events. Her raw material comes from Gamboa, where she collects earth and processes and filters it until it is in the malleable state for her hands and mind to get to work. The prices won’t frighten you away. Masks range from $35 to $70, sculptures from $40 to $100. She can be reached at 224-2162 or 6722-3055
If there was a Panama City award for service, it should go this month to a salesperson in the Dante store on Calle 50. As told to me by a friend it went like this. The friend was on his way to a meeting when someone carrying a coffee bumped into him and the liquid splashed down the front of his shirt. There was a little time to spare and Dante’s store was on his route. When he entered the store he struck lucky. Not only did they have the kind of shirt he was looking for, but it was on sale, and he ended up buying two. The salesperson suggested he try on one of the shirts to make sure it fitted. It did, but straight out of its packaging it still carried heavy creases down the front and on the arms. "Just a moment sir" said the salesman, and disappeared with the shirt into a back room. He was back in three minutes, with the shirt freshly ironed. My friend left, and made his appointment on time looking better, he said, than when he originally set out in the morning. Now that’s service.
Wondering one day where I could get fresh tofu, without wandering into some store that looked and smelled like a garbage truck I was directed by a friend to Frutería-Mini-Max in Plaza Bal Harbor, Paitilla. I entered past a blaze of color from the wide selection of well-priced flowers near the entrance, to find the store bustling with customers, including a heavy sprinkling of restaurateurs, and chefs seeking supplies that are hard to find in other locations. That was a good sign as I recognized people from some of the well thought of eating establishments.
The shelves were loaded with items I had not seen since moving to Panama, like Japanese curry cubes, mild, medium or hot, that give a wonderful creamy texture to your meal when added 10 to 15 minutes before serving, and pre-packaged vegetable curry that can be cooked and served in minutes. Nearby, cans of imported mandarin orange slices and a wide variety of sauces for stir frying, and of course fresh tofu, firm or soft. It is also available in packets, much cheaper than at my local supermarket. They also sellJapanese style rice.
The vegetable shelves were stocked with all the regular offerings, including quality apples, oranges and tomatoes (usually at prices lower than you will find in a supermarket) plus rarities like parsnips and rhubarb. Whoever thought parsnips would be hard to find. But there they were sitting next to baby turnips, also known as rutabagas or Swedes. Oriental radish, sat next to Chinese cabbage and an unbelievable range of herbs and spices. Not sure how to cook some of this stuff? The answer is in the store which sells cook books, including one totally devoted to tofu. I have become a regular customer and get, on every visit, a smiling welcome from the folks behind the counter, or those stocking shelves. That’s not hard to take when you compare it to the surly looks at many local checkouts. The store is open daily from 8a.m. to 9 p.m., Monday to Saturday, and Sunday 9 a.m. to 9 p.m.
Through May, Blockbuster is giving a 10 percent discount on movie rentals if you pay with Visa. Meanwhile Blockbuster Paitilla is now providing home delivery for orders of three or more movies in the Paitilla and Punta Pacifica area. Call 322-1833. Lumitec has opened a store on Avenida Balboa, just across from Multicentro, and is offering a 25 percent discount on all of its light fixtures. The store is open Monday to Thursday from 9 a.m. to 7 p.m., Friday 9 a.m. to 5.30 p.m.. and Sunday 10 a.m. to 6 p.m. Nine West, Multicentro, is offering shoes from $29. 99. and across the hall Minotti Umo has a wide range of shirts, suits and pants at 50 per cent off. Nearby the recently moved in Home Center has discounts ranging from 10 to 40 percent. La Reinda located on Calle 52 Bella Vista, has sale of Spanish goods. |
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Your insurance needs in Panama |
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By Jorge del Río If your visit to Panama is prolonged or if you are planning to live here, you will need insurance for your personal and property needs. In following editions, we will analyze the characteristics of each insurance policy offered in Panama, according to your needs. Medical insurance Medical insurance can vary according to your different needs. There are plans that offer local or international coverage, and some include plans that work along with approved networks and established doctors, laboratories, hospitals, and clinics where usually the policyholder performs what is called a co-payment, or the basic sum of money paid to receive the service, since the other expenses incurred are charged directly to the insurance company. 
There are also, open plans that do not work with networks. In this cases, the policyholder pays the whole of the expenses incurred and after the deductible, the insurance company will give a refund. This plan offers the liberty to be attended with a physician of preference, without being worried if he or she is listed on the insurance company's approved network. As in every insurance, there are requirements that must be done. A very important one, is a laboratory exam package, and in some cases, a complete medical evaluation. This naturally, will depend on the policies of each insurance company. According to the age, prices for these tests fluctuate between $61 to $111. Life insurance Banks can include in your mortgage a charge for life insurance. However, in this policy, the total amount of the initial amount insured decreases while the sum that is owed diminishes, but the the insurance premium stays high. So, after 10 years of paying the policy if the policyholder passes away, it will only settle the portion owed on the mortgage. In this type of policy, there is not a differential remaining sum for the family. For this reason, generally it is more convenient to get an independent life policy through a professional agent, who knows the alternatives, and advantages of the companies in the market. 
The health and age of the policyholder are two of the most important factors in order to obtain a life insurance. Because of this, is better to have an independent life insurance policy, since the cost will be smaller. The younger you are when you first take out the policy, the less it will cost. A life insurance can be presented as a backing for a mortgage in any bank. For example, if five years later you decide to change your bank, just by switching the name of the beneficiary bank in the policy, you will continue to pay the same insurance premium, although you are older than when you first obtained it. Also, you can buy a policy that makes sure the insured sum stays the same level for as long the policy or the mortgage lasts meaning that in the event of death, the mortgage is paid off and there is money over for your family. If the policy that you bought has been included with the charge of the mortgage of the bank, you will not be able to use it with another bank. In that case, you will have to buy a new insurance. As you will be older, and with possible changes in your health, it may lead to other limitations. Jorge Del Río is a director of Ducruet Insurance. For futher information: Call, in English o Spanish, 6675-8720. |
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Coming soon to The Visitor |
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Look for these special features in future editions |
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Copyright
2007©. All Rights Reserved. |
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The
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Where
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Animal
Care
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