Professional organization: Senate bill will exacerbate oversaturated real estate market

Miguel Mercado Ruiz, president of the Board of Realtors, Salespeople, and Real Estate Companies

By The Star Staff

Miguel Mercado Ruiz, the president of the Board of Realtors, Salespeople, and Real Estate Companies, has urged Gov. Jenniffer González Colón not to sign Senate Bill (SB) 6, arguing that it would exacerbate the already oversaturated real estate market in Puerto Rico.

The legislation, authored by Senate President Thomas Rivera Schatz, is titled the Universal Recognition of Occupational and Professional Licenses in Puerto Rico Act. It aims to create a universal law that would recognize professional licenses from other jurisdictions within the United States, enabling licensed professionals from those areas to practice in Puerto Rico without undergoing additional evaluation processes. The House passed the bill last week.

“License reciprocity and the renewal process are entirely different issues, and this bill is conflating them,” Mercado Ruiz said in a message to real estate brokers. “There is no universal real estate license in any state in the United States. What exists in some states is reciprocity, and that applies only when the laws are very similar, mainly for consumer protection. The most concerning issue is that Puerto Rico already has an excess of licenses. The current real estate market cannot support more professionals. This law would only add pressure to an already overburdened sector. Furthermore, it could attract undue interest from large economic entities wanting to operate in Puerto Rico.”

The U.S. National Association of Realtors said the real estate industry in 2025 in the mainland United States is heavily oversaturated, with nearly two million licensed real estate agents competing for fewer home sales and tighter market conditions. Low barriers to entry, lingering effects from the pandemic boom, and a glamorized image of real estate careers have led to an excess of undertrained and inexperienced agents. Although many new real estate agents enter the industry each year, a significant portion struggle to earn a sustainable income or build long-term careers, according to the association.

Mercado Ruiz expressed concern that the Department of Consumer Affairs would lose jurisdiction, as it does not exist in other states.

“My big question is: where was the real estate industry during this entire process? There were public hearings, conflicting opinions, and the industry was consulted. Unfortunately, all of this occurred in silence and without meaningful participation,” he said. “My final plea to you, Honorable Governor Jenniffer González: I ask you not to sign this bill. The real estate industry is placing its hopes in you. Please protect our jurisdiction. Protect our professionals. And, more importantly, protect the Puerto Rican consumer.”

If the bill becomes law, professionals with valid licenses from other U.S. jurisdictions would be able to practice in Puerto Rico without repeating evaluation processes.

Senate Bill 6 outlines a list of professions and trades that would fall under the supervision of the examining boards associated with the commonwealth Department of State, subjecting them to a new uniform occupational licensing process. Recognized professions include certified public accountants, architects, landscape architects, pharmacy assistants, barbers, professional counselors, cosmetologists, dentists, private detectives, electricians, nurses, personal trainers, hairstylists, photographers, tour guides, pesticide inspectors, legal advocates, sign language interpreters, physical education teachers, auto mechanics, nutritionists, dietitians, optometrists, electrical examiners, plumbers, podiatrists, psychologists, chemists, nail technicians, vocational rehabilitation specialists, speech and language therapists, occupational therapists, and social workers.

All of those occupations would be subject to a uniform licensing evaluation, along with procedures for granting, denying, or reviewing licenses, as established by the Department of State.