M
iguel Mercado Ruiz, president of the Board of Realtors, Salespeople, and Real Estate Companies in Puerto Rico, has urged Governor Jenniffer González Colón to veto Senate Bill 6. The legislation aims to create a universal law that recognizes professional licenses from other US jurisdictions, allowing licensed professionals to practice in Puerto Rico without additional evaluation processes.

    Mercado Ruiz argues that this bill would exacerbate the already oversaturated real estate market in Puerto Rico. He claims that license reciprocity and renewal processes are distinct issues, and the bill conflates them. The current real estate market cannot support more professionals, and the law could attract large economic entities wanting to operate in Puerto Rico.

    The US National Association of Realtors notes that the mainland US real estate industry is heavily oversaturated, with nearly two million licensed agents competing for fewer home sales. This has led to an excess of undertrained and inexperienced agents struggling to earn a sustainable income or build long-term careers.

    Mercado Ruiz also expressed concern that the Department of Consumer Affairs would lose jurisdiction if the bill becomes law. He questioned why the real estate industry was not more involved in the legislative process, particularly during public hearings and conflicting opinions. Mercado Ruiz pleaded with Governor González Colón to veto the bill, citing concerns for the Puerto Rican consumer and the protection of local professionals.

    If signed into law, Senate Bill 6 would allow professionals with valid licenses from other US jurisdictions to practice in Puerto Rico without repeating evaluation processes. The bill outlines a list of recognized professions that would be subject to a uniform occupational licensing process, including various healthcare professionals, tradespeople, and service providers.