National Association of REALTORS Member Development Whats Happening
National Association of REALTORS® Member Development What’s Happening with Global Real Estate in the U. S. and Florida? 10 Questions to Test Your Knowledge! Carol Kairis, AHWD, CIPS, e-PRO, RCE, RSPS, SRES Director, CIPS/AHWD, Member Development National Association of REALTORS®
Who Are Global Buyers? • Foreign buyers living abroad • Recent immigrants • U. S residents purchasing property abroad • Clients with international family connections
Why Is This Important? Spend more money $454, 400 average property purchase price Pay in cash 72% of non-resident foreign buyers paid all-cash Refer more business 62% from referrals Source: 2018 Profile of International Activity in U. S. Residential Real Estate
Q 1: According to NAR’s 2018 Profile of International Activity in U. S. Residential Real Estate, what was the total sales volume purchased by foreign buyers? a)$153 Billion b)$20 Billion c)$121 Billion d)$500 Billion Source: 2018 Profile of International Activity in U. S. Residential Real Estate
Answer: $121 Billion The total sales volume decreased from $153 Billion in 2017 to $121 Billion in 2018. Source: 2018 Profile of International Activity in U. S. Residential Real Estate
Q 2: What factors attributed to the decline in foreign home purchases? a) Natural disasters b) Low Inventory c) Rising home prices d) b & c e) All of the above
Answer: Rising Home Prices and Low Inventory (B & C) • The median price sold is up by six percent. • Inventory was down Source: 2018 Profile of International Activity in U. S. Residential Real Estate
Q 3: TRUE or FALSE: According to the 2018 Profile of International Activity in U. S Residential Real Estate, Florida was the #4 destination foreign investment in the U. S? a)True b)False
Answer: False Florida remained the #1 destination accounting for 19% of foreign buyers!
Q 5: Tampa International Airport has direct flights to which countries? a) London, England b) Frankfurt, Germany c) Panama City, Panama d) Zurich, Switzerland e) All of the above
Answer: All of the above! Tampa International Airport currently offers more than 70 nonstop flights to destinations around the world including Frankfurt, Zurich, Panama City and London. http: //www. tampaairport. com/
Q 4: In 2017, what was Florida’s estimated expenditure from foreign students? a)$5. 5 Billion b)$510 Million c) $10. 2 Million d)$1. 4 Billion
Answer: $1. 4 Billion Florida is Ranked #7 in the Country for Number of Foreign Students in the State Institutions with the Highest Number of Foreign Students University of Florida – 7, 107 University of South Florida, Tampa – 5, 922 Florida International University – 3, 702 Leading Places of Origin for Foreign Students in FL: China (17. 5%) India (14. 3%), Venezuela (7. 9%) Saudi Arabia (4. 4%) Brazil (4. 1%) Data from Open Doors 2017 INSTITUTE OF INTERNATIONAL EDUCATION- www. iie. org University of Miami – 3, 347 Florida Institute of Technology – 2, 543
Q 6: TRUE or FALSE: Florida has the most CIPS Designees in the U. S? a)True b)False
Answer: True! Top 3 States with the most CIPS Designees 1. Florida – 1, 210 2. California – 569 3. Texas – 340
Q 7: The CIPS Designation provides education on what topics? a) How to work with international buyers and sellers b) How to complete international transactions seamlessly with reduced risk c) How to identify and capture global business in your local market d) All of the above
Answer: All of the above A Certified International Property Specialist (CIPS) designee has undergone specialized training to complete global transactions seamlessly and with reduced risk. The CIPS designation is the only international designation recognized by the National Association of REALTORS®. Only REALTORS® who have completed the coursework and demonstrated considerable experience in global business can call themselves a CIPS designee, and use the name and logo.
Q 8: How many classes are required to earn the CIPS Designation? a)10 b)1 c) 3 d)5
Answer: 5 Classes - Pay a one time application fee PLUS yearly membership • Dues are prorated based on the quarter you apply - NAR reviews the application and email decision (within 2 weeks) - Once approved, you will receive: • An email with a website link to access to the Global Marketing Center • A membership kit via mail containing your CIPS certificate, pin, and additional membership information Join the Network! Electives: - The Americas & International Real Estate - Europe & International Real Estate - Asia/Pacific & International Real Estate - Complete the application form Review Process Core Courses: - Global Real Estate: Local Markets - Global Real Estate: Transaction Tools Application Education How to Earn the CIPS Designation - CIPS Directory - Facebook Group - Discounted Networking Opportunities - Global Marketing Center - Global Perspectives publication and e. Newsletter
Q 9: How many referrals were shared amongst the 2, 024 designees in the CIPS Facebook group during the month of August? a)40 b)12 c)22 d)45
Answer: 40! • 40 referrals in 20 different countries were shared in the Official CIPS Facebook group amongst designees • The group is great place for designees to share referrals, ideas, market information and best practices!
Q 10: Currently, what is the total number of CIPS Designees worldwide? a) Over 500 Designees in 30 countries b) Over 1, 200 Designees in 40 countries c) Over 4, 000 Designees in 50 countries d) Over 6, 000 Designees in 75 countries
Answer: 4, 000 in 50 Countries The CIPS Designation has a network of over 4, 000 designees in 50 countries The typical designee: Earned $28, 750 from global transactions Reported a median income of $107, 500 Significantly higher than median gross income of an average REALTOR® ($39, 000) (Referencing data from NAR’s 2017 CIPS Designee Survey)
CIPS Benefits: Global Marketing Center Designee marketing materials including: • Customizable postcards, flyers and business cards • Digital marketing tools such as banner ads, CIPS website “badge” and social media cover photos • Power. Point presentations • Advertising discounts • CIPS Logo • Sample press release and referral form www. printingstorefront. com/narglobal
Advertising Discounts (NEW!) International Advertising Discounts We’ve negotiated up to 60% off advertising rates with international publications exclusively for CIPS Designees.
Global Perspectives Newsletter The newsletter is a bi-monthly “how-to” guide full of useful and actionable tips to help globalize your business.
CIPS Directory Profile • Search via name, location language, and country specialization • Designees can complete their profile by adding their photo and biography
We’ll See You In Boston! Come join us for global events and networking opportunities including: • International Welcome Reception • Global Day • Translation for sessions • CIPS Pinning Ceremony – Designee Only! (ticketed event) • Global Networking Center • International Night Out (ticketed event) • Country Networking Hours
At Home With Diversity in Boston
Contact Website: www. nar. realtor/global/cips Email: cips@realtors. org Global View Blog: http: //theglobalview. blogs. realtor. org/ facebook. com/narglobal @narglobal
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