Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?
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Transcript of Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?
Illinois Association of Realtors®Multicultural Summit
Europe: what's in it for you?
Raise your hand if…. Sell Commercial Real Estate
Lease Commercial Real Estate
Rent Residential Property
Raise your hand if…. Advise U.S. buyers on investment
opportunities in Europe If you feel there is potential in advising U.S. buyers on European
investment opportunities
Who are the most prevalent foreign buyers in your local
market?
Illinois
Investment BuyersAffordability- Weakened U.S. Dollar
Accessibility- ORD Major International Hub
Solid Rental OptionsSupply
Types of Foreign Buyers in Chicago?
Immigrants, 1st Generation Americans, Clients with
International Family ConnectionsFrom Greektown to Chinatown, the Polish Triangle to the Mexican Communities in
Pilsen, etc., etc., etc.CHICAGO IS A MELTING POT!
CHICAGO
TOP U.S. STATES Hosting International Students
1.California 2.New York 3.Texas 4.Massachusetts 5. IllinoisData Provided by the Institute of International Education 2011
Fast Facts
International Students
Institutions with the Highest Number of International Students
1. University of Illinois - Urbana-Champaign 2. Illinois Institute of Technology- Chicago
3. University of Chicago 4. Northwestern University- Evanston 5. University of Illinois - Chicago
Institute of International Education 2011 Open Doors Fact Sheet- Illinois
International Students
Executives Working Abroad
Questions about U.S. buyers investing in Europe
What European countries appeal to the US buyers you are
advising?
Why are your U.S. buyers considering Europe ?
Why should an Illinois Real Estate professional be interested in
Europe?
Your International Options
• Selling local real estate to local foreign-born communities
• Selling local real estate on line to foreign customers
• Going abroad to sell local real estate
• Going abroad to investigate investment opportunities
Why your local market is so important:
Perhaps the likeliest source of business for the Illinois Realtor®
Gauging the potential for doing business
in your neighborhood
Developing a Clientele in your local market
• Identifying potential buyers in your area
• Contacting them and gaining their trust
•The CIPS course “Global Real Estate – Local Markets” may be for you!
Foreign Direct Investment in the U.S.A.
Where do European investors go to check out U.S. property
for sale• There is very little culture of
“buyers’ brokers” for residential property in Europe
• Europeans “shop” for residential property on line
• www.realtor.com/international
Search, view and explore global properties
Anticipating the Expectations of European Clients
• Explaining how US real estate is bought & sold
• Explaining how US real estate is managed
Is it worthwhile for an Illinois Realtor® to go to Europe to
look for buyers or to investigate investment opportunities for U.S.
investors?• The investment
• The risks
• The rewards
Your NAR Contacts for Europe
• International Realtor® Members
• CIPS designees• European associations
cooperating with the NAR• Ambassador Associations,
Global Councils• NAR President’s Liaisons
Trade Shows in Europe
• Business-to-business trade shows
• Business-to-consumer trade shows
Working with a European counterpart:• Protecting your interests
• Protecting the interests of your client
• Controlling the transaction
NAR Global: Core Products, Programs & Services
CIPS Network & DesignationThe CIPS designation provides specialized educations & services to real estate professionals interested or involved in the international real estate arena. As a CIPS, you will be able to diversify your clientele and globalize your business.
The CIPS Network Provides: Prestige and New Business Global Referrals Personal Contacts Networking Opportunities Exposure: CIPS Directory Online Listing
Questions?
Bruno CrosbyManager, International Market Development
Global Business and Alliances DivisionNational Association of REALTORS®
[email protected] 329 8829