Why International Buyers Are Turning to a Buyer's Brokerage in Panama

Pacific coastline and beach near Pedasí on Panama’s Azuero Peninsula

Anyone who has started looking at property in Panama runs into the same thing quickly: the process doesn’t work like it does in Toronto, Texas or Tuscany. For a first-time foreign buyer, that gap can be expensive.

The biggest difference is who the agent is working for. In many Panamanian transactions, the agent who shows you a property represents the seller, not you. That’s not unusual in itself, but buyers coming from markets with strong buyer-agent traditions often assume the person across the table is on their side. Often they aren’t.

There’s also no single, central MLS. Listings are scattered across agency websites, social media groups, developer pages and word of mouth. The same property can show up with different agents at different asking prices, and a buyer working alone has no easy way to know which figure is real or whether the title behind it is clean. A growing number of foreign buyers are dealing with this by hiring a brokerage that works only for them.

A brokerage built around the buyer

One firm taking that approach is Panama Properties, a licensed and bonded Panamanian real estate brokerage that focuses on buyer representation. It was founded by Ken Norton, who moved from Canada to Panama in 2021. Having gone through the relocation himself, he built the company around the questions newcomers tend to ask first: Who is this agent really working for? Is the title in order? What will I actually pay?

The idea is simple. Instead of acting for the seller and hoping the buyer’s interests line up, the brokerage works for the person doing the purchasing.

What the service covers

The work starts before any viewing. Properties the team puts in front of clients are vetted for title status, and legal due diligence is done before a buyer gets emotionally or financially committed. That includes checking that the seller can legally sell and that the property is free of liens or disputes that would surface later.

From there, the brokerage handles negotiation on the buyer’s behalf and coordinates with the buyer’s own independent attorney. Keeping the lawyer independent matters. It gives the buyer a second professional who answers only to them, rather than relying on a lawyer recommended by the other side.

Other parts of the service reflect who is buying in Panama today:

Financing guidance. The team explains mortgage and financing options available to foreign buyers, which differ from what local residents can access.
Crypto-friendly purchases. Buyers who hold digital assets can discuss how a purchase might be structured with that in mind.
Relocation and residency support. For people who are moving rather than just investing, the team helps with the practical side of settling in, including residency questions.

Where the team works

Panama’s property market varies a lot from one region to the next, and a buyer in a beach town has different concerns from one in a mountain community. The brokerage operates across several of the areas that draw the most foreign interest: Panama City and the historic district of Casco Viejo; Pedasí and the wider Azuero Peninsula, including Playa Venao; the highland town of Boquete; the Pacific beach area around Coronado; and the Caribbean archipelago of Bocas del Toro.

Local agents are based in these areas, so buyers get someone who knows the neighborhood, the price history and the quirks of local paperwork. The team is bilingual in English and Spanish, which helps when documents, notaries and public registry staff all work in Spanish.

For those who want to see what’s available before making contact, the company keeps a public selection of properties for sale across Panama on its website.

Reaching the other side of the table

The brokerage also works with sellers. Owners who list exclusively with the company get their properties marketed on major North American MLS platforms and on more than 322 international real estate portals, which the company says puts listings in front of buyers in over 88 countries. For a seller, that reach matters because a large share of buyers in many Panamanian markets live abroad and do their early searching online.

What buyers should know about costs

One point that surprises many first-time buyers: in Panama, buyers do not pay an agent commission. The seller covers the agent’s fee. A buyer’s main costs are their own lawyer, along with fairly modest notary and registration fees.

That doesn’t mean every purchase is cheap or free of risk. Legal fees, taxes and any financing costs still need to be budgeted. But it does mean that hiring a buyer-focused brokerage doesn’t add a commission on top of the purchase price, which removes one of the usual objections to getting professional representation.

A practical note for first-time buyers

Whichever route someone takes, a few habits help. Don’t pay deposits before the title has been checked. Hire an attorney who has no tie to the seller. Compare the asking price against recent sales in the same area, not just against other listings. And visit in person if you can, or have someone you trust do it, because photos tell you very little about road access, water supply or neighbors.

Panama has a lot going for it: a US dollar-based economy, a well-developed capital, and coastlines and highlands that attract retirees, remote workers and investors from many countries. Buying there is quite doable, as long as you go in with proper representation and realistic expectations.