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INTERNATIONAL REAL ESTATE OVERVIEW
As international developments play an increasing role in how and where capital is invested throughout the world, the NATIONAL ASSOCIATION OF REALTORSŪ is expanding global real estate market opportunities for its commercial and residential members, while advocating private property rights around the world. Since NAR started its international operations program in the early 1950s, the association has built a network of cooperative agreements with real estate associations around the world, and is actively expanding and developing this network. NAR promotes international real estate education, development of technical standards and technical information exchange, and international real estate practice in a number of other areas, including commercial outreach activity, cultural diversity training, and development of an international real estate consortium, among others. This summary provides an overview of the major issues and activities, as an aid to understanding NAR's international program.
Background: NAR has organized an international real estate operations program as a means of taking a leadership role in the development of international business standards. NAR thus aids in shaping and influencing the development and promulgation of an international business technical standard that will maximize the international business opportunities, not only for American REALTORSŪ, but for real estate practitioners everywhere. Growing in pace with the growing volume of world trade and cross-national capital movements, foreign investment in U.S. real estate and U.S. investment in real estate located abroad have increased over the last three decades, with further growth anticipated in the next several decades.
In addition to capital movements for investment purposes, the international character of the real estate business is also affected by immigration, by movements of aliens who enter the United States as permanent residents, as well as shorter-term residents dispatched by their companies to help manage joint ventures and direct corporate investments in the U.S. There are also outflows of Americans who move abroad to manage business operations overseas, for retirement or to invest in second homes.
Click here to go to the: NAR International Web site
THE CERTIFIED INTERNATIONAL PROPERTY SPECIALIST
The Certified International Property Specialist Network (CIPS Network) is the specialty membership group for international practitioners of the National Association of REALTORSŪ, the world's largest trade association. The CIPS Network is comprised of 1,500 real estate professionals who deal in all types of real estate, but with one common element: they are focused specifically on the “international” market. Whether traveling abroad to put deals together, assisting foreign investors, helping local buyers invest abroad, or serving an immigrant niche in local markets, CIPS members are consumers’ best resource to ensure they are dealing with a professional skilled in the unique aspects of international real estate.
Through NAR’s alliances with 66 national and regional Cooperating
Associations around the globe, the CIPS Network is attracting a
growing number of members from outside the US. The Network has over 1,000
CIPS designees
(individuals who have completed a week-long education program on
international real estate) with approximately another 300 CIPS Network members
working
to complete their course work and other requirements for designation
status. 300 CIPS Network members live and work outside the US and belong
to one
of NAR’s international partners. You can locate a CIPS Network member
through the online directory
at this site, using the search features to locate someone with
specific business, location and/or language specialties. This site includes
information
about NAR's Cooperating Associations,
market profiles
of more than 40 international markets, U.S. international local councils,
CIPS Network membership, information and resources,
and more. The majority of this site is open to the public, but there
are a few pages available only to NAR members and visitors will be prompted
for
their NAR Realtor.org password to proceed.
The information at this site is regularly updated. Please e-mail your feedback and thank you for visiting.
CIPS Network Structure
Cooperating Associations: NAR maintains formal relationships with organized real estate associations around the world. View a current list of these groups along with mailing addresses, e-mail addresses and Web site information.
Local Councils
Throughout the United States, state and local REALTOR® associations organize International Committees or Local Councils. These groups allow members with an existing or potential interest in international real estate to come together to network and learn. Activities range from a simple brown bag lunch to a foreign trade mission, but they all have one thing in common--helping members develop business opportunities related to the growing “international” market. With the surge of immigrants in to different areas in the US and the unique culture they bring with them, international real estate becomes a concept closer to home.
Each year, during the REALTORŪ Midyear Legislative Meetings and the REALTORŪ Annual Conference & Expo, the International Local Council Forum meets. This Forum is an open idea exchange for REALTORŪ Association Executives (AEs) and volunteer leaders to come together to hear and share information about local international member service programs. It is an ideal place for AEs looking for information to help them start a local council. Individuals interested in local international councils can also obtain information online through the International local resource database.
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