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®

bcrosby@realtors.org312 329 8829