Beyond Borders: International Real Estate Comes of Age

Not too many years ago, pursuing business in other countries was limited to major corporations with their ample resources and large network of political connections. How times have changed.

March 1, 1998

Expanding markets, technology as a tool for international communications, and the availability of specialized education are enabling the practice of real estate to become international in scope.

Even if the concept of doing business abroad is new to you, it isn’t new for our association.

For nearly a half century, NAR has advocated private property rights and the ethical practice of real estate throughout the world.

To that end, NAR was proud to receive the Domestic Partnership Award from the U.S. Agency for International Development in recognition of our work in advancing private property rights and shelter needs in eastern Europe. Through our International Section, which now boasts a membership of more than 1,500 REALTORS®, we’ve established cooperative agreements with 38 professional real estate associations in 33 nations.

Our efforts to promote international commercial property investment are showcased this month as REALTORS® join the expected 7,000 professionals from 50 nations gathering in France for the largest commercial property show in the world. This trade show, known by its French acronym MIPIM, provides considerable opportunity for international investment.

International business outreach chapters at the state and local levels are linking successfully with state economic development organizations and NAR cooperating associations to pursue business for members.

We also encourage closer ties with real estate professionals from other countries through NAR’s International Ambassador program. This program pairs visiting real estate professionals from international cooperating associations with hosts from state and local associations.

If you're looking to expand your knowledge of non-U.S. markets, consider joining the ranks of the more than 500 REALTORS® worldwide who've earned the Certified International Property Specialist designation. CIPS courses, offered by NAR’s International Section, were held last year in Singapore; Prague, Czech Republic; and throughout the United States.

To help you realize the potential that’s waiting to be tapped in international real estate, your association is looking beyond borders. You can, too.

R. Layne Morrill was 1998 president of the NATIONAL ASSOCIATION OF REALTORS®.

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