intl business guide
DESCRIPTION
INTERNATIONAL BUSINESS GUIDETRANSCRIPT
for the InternatIonal real estate ProfessIonal
75+ resources and services
Global1
one market. one network. one world.
Global1
your market. one network. one world.
Global
your business has no borders.
NATIONAL ASSOCIATION OF REALTORS®
430 North Michigan Avenue Chicago, Illinois 60611 USA Phone: 312.329.8489 [email protected] www.Realtor.org/international NAR International Operations Staff Miriam Lowe, Vice President International Operations 312.329.8392 [email protected] Carol Weinrich, Managing Director International Operations 312.329.8820 [email protected] Elena Carrillo, Manager Strategic Accounts 312.329.8272 [email protected] Heidi Henning, Manager International Education and Membership 312.329.8376 [email protected] Jennifer Wiziarde, Manager International Networks 312.329.8389 [email protected] Ye Xiannian, Manager International Business Development 312.329.8829 [email protected]
Judy Perez, Senior International Educational Specialist 312.329.8412 [email protected] Bethsy Sachs, Executive Secretary 312.329.8392 [email protected] Tamala Thomas, Coordinator International Operations 312.329.8369 [email protected]
©NATIONAL ASSOCIATION OF REALTORS
®, 2008
All rights reserved.
Your Global Real Estate Business Partner
1
Quick List
Refer to the noted page number for information about the resources, services, and information described in this guide.
Ambassador Associations, 11 Americans Buying Homes
Abroad, 4 Audio Books, 6 Camera-Ready Ads, 14 Certified International Property
Specialist Designation, 9 China—Education and
Membership Initiatives, 15 CIPS Course Licensing, 8 CIPS Designation Courses, 7 CIPS Network, 11 CIPS Network Directory
Advertising, 14 CIPS Network Mailing List
Rental, 14 CIPS Network Member Benefits,
3 Cooperating Associations, 11,
25 Country Profiles, 5 Doing Business in Mexico, 7 Doing Business in the United
States, 7 Education Sessions, 8 Embassy Visits, 12 Expand Your Market, 7 Extra: Trade Missions, 20 Field Guide to REALTORS
® and
the Global Marketplace, 6 Find a CIPS Online, 12 Find a TRC Online, 12 Foreign Investment in U.S. Real
Estate, 4 Foreign-Born Population in the
United States, 4 Foreign-Born Residents by
State, 4 Foreign-Speaking Residents in
the United States by State and County, 4
Forums, 8
Global New Home Resorts, 10 Global Perspectives in Real
Estate Newsletter, 6 Global Perspectives in Real
Estate Newsletter Advertising, 14
Global Real Estate Project, 5 Global Resources for Local
Markets e-Newsletter, 6 Globalization and Real Estate
Presentation, 5 ICREA, 10 India—Association
Development and Industry Best Practices, 15
International Consortium of Real Estate Associations, 11
International e-Report, 6 International Housing Coalition,
15 International Memberships, 11 International Networking
Center, 12 International Night Out, 12 International Operations Staff, 2 International Real Estate for
Local Markets, 7 International Real Property
Foundation, 15 International Second Home
Pavilion, 12 Local International Councils, 11 Logo Downloads, 14 Market-to-Market Initiative, 12 Market-to-Market Toolbox, 12 Mexico—AMPI Joint Venture
with NAR, 15 MIPIM, 13 NAR Participation in
International Expositions, 13 News items Association/Firm
Newsletter, 6
Online Network Directory, 12 Personal Marketing, 14 Prepackaged Sales Meetings, 8 Presentations, 8 President’s Liaisons, 11 Profile of International Home
Buying Activity in Florida, 4 Profile of International Home
Buying Activity in the United States, 4
REALTOR
® University Online, 8
REALTORS® Annual Conference
and Expo, 12 Referral fees,Global New Home
Resorts, 10 Regional Coordinators, 11 Risk Reduction, 8 Road Map to Information about
the Foreign Born, 5 SIMA, 13 Speakers Cadre, 8 Speeches, 8 Sponsorships, 14 State-by-State International
Business Activity Reports, 4 Success Case Studies, 6 The Global Neighborhood
Report, 6 Total-Immersion Language
Learning, 6 Trade Shows, 16 Transnational Referral
Certification, 7, 9 Virtual Library, 6 Weekly News Headlines, 6 Winning Strategies, 6 World Urban Forum, 15 WorldProperties.com, 10 www.Realtor.org/International,
3
NATIONAL ASSOCIATION OF REALTORS® International Operations
2
Your Global Business Partner
Why does NAR invest resources in international real estate?
How does it benefit my business?
How can NAR help me accelerate and expand my international real estate reach?
NAR‟s international mission is to maximize global market access and profit for REALTORS
® so that they
can achieve business success in an orderly and ethical market. Every REALTOR® has an expert global
business partner, NAR International Operations, who has already accomplished the advance work to bring order to the market and transparency and reliability to the transaction. Savvy real estate professionals gain the edge on their competition by realizing that global business is often local market business—they are local around the globe—and using the resources and support offered by their international global partner, the NATIONAL ASSOCIATION OF REALTORS
® International
Operations. When members take advantage of the resources and support offered by NAR, international business success follows. And, most resources and services described in this guide are included in membership dues*. REALTORS
® have a head-start because NAR has already:
Done the research…page 4
Compiled the news and information…page 6
Written the education courses…page 7
Developed the credentials…page 9
Provided the property marketing Web sites…page 10
Connected the network…page 11
Planned the marketing…page 14
Anticipated the future… page 15
Extra sections with tips on participating in international trade shows (page 16) and international trade missions (page 20) help real estate professionals get the most out of these business opportunities. The global real estate market begins at the front door of your office. The question is—when will you tap into all the tools for your international business success?
Are you ready?
* Some items require CIPS Network membership.
Your Global Real Estate Business Partner
3
www.Realtor.org/International—Your Virtual Global Business Partner
Have you touched base with your business partner lately? Your virtual global business partner, www.Realtor.org, brings you the research, connections, news, education, and marketing for international real estate business successes—all tailored specifically for REALTORS
®. Almost all of the items
described in this guide are accessible online and, for CIPS Network members, most of the benefits are included your membership dues.
The Certified International Property Specialist Network
The CIPS Network is the international real estate specialty group of the NATIONAL ASSOCIATION OF REALTORS
®. Around the world, 2,500 real estate professionals are members of the CIPS Network and
most are CIPS designees. CIPS Network membership benefits include:
Listing in Who’s Who in International Real Estate and the online member directory
Subscription to quarterly magazine Global Perspectives in Real Estate
Advance information on the REALTORS® Annual Exposition and Conference
International real estate news updates
Invitations to business and networking events at top international real estate events
Resources and services described in this guide—most are included in membership dues
www.Realtor.org/international Web site access
NATIONAL ASSOCIATION OF REALTORS® International Operations
4
Access the benefits in this guide at
The Research
Would it help to know where foreign real estate buyers are from and what language they speak? How would you respond if a foreign investor asked how your market compares to others? Smart marketing and business plans are based on reliable research and benchmarks. NAR research compiles the data you need to interact intelligently with foreign real estate clients and customs, from the multimillion-dollar investor to the immigrant first-time home buyer. The resources listed below offer more than a thousand pages of downloadable research reports.
Profile of International Home Buying Activity
in the United States (2007)
You don‟t have to pack a suitcase or buy a plane ticket to experience international real estate. NAR‟s comprehensive research on purchases of primary and vacation homes by international clients shows that one-third of REALTORS
®
experience international real estate business in their home markets. Use this research study to
benchmark your own market strategy.
Foreign Investment in U.S. Real Estate (2007)
Whether planning your own business strategy or laying the groundwork for a trade mission, this research report offers valuable insight into the extent of foreign investment in commercial and residential U.S. real estate. The report describes where the majority of foreign investors originate from, what they purchase, and why they invest. Compare the investment potential of your local market national trends and help investors make
the right decisions.
State-by-State International Business
Activity Reports
These downloadable reports profile international business activity by state. Data includes population demographics, year of arrival, household languages, homeownership rates, immigration and naturalization trends by country, foreign visitors and workers, exports by product
type, and exports by trading-partner country.
Foreign-Born Residents by State
Refer to this state-by-state listing of foreign-born residents for a breakdown of those arriving in
the last ten years.
Foreign-Born Population in the United States
This spreadsheet depicts the foreign-born population trends in each county from 1996 to
2003. Find out who's coming and going.
Foreign Languages Spoken in the United
States
After English, which languages are most popular in each state and each county? This spreadsheet report covers the twenty most-frequently spoken foreign languages and provides the percentage of state population
speaking each one.
Foreign-Speaking Residents in the United
States by State and County
This spreadsheet report breaks down the percentage of the population speaking a language other than English. It is broken down by those speaking only English and those speaking a foreign language, instead of or in addition to English.
Profile of International Home Buying Activity
in Florida (2007)
NAR partnered with the Florida Association of REALTORS
® on this report which looks at home
purchases in Florida by international clients. Florida‟s coastlines and year-round climate make it a major target for home buyers from
Europe and other international clients.
Americans Buying Homes Abroad (2007)
For many, owning a home abroad is as much as part of the American dream as owning a home in the United States. This ground-breaking benchmark study examines real estate purchase activity of U.S. citizens in other countries. Use this study to learn where Americans are buying property and hook up with referral partners in
other countries.
Your Global Real Estate Business Partner
5
www.Realtor.org/international
Road Map to Information about the Foreign
Born (2006)
Putting research information together in order to market to international clients can be challenging and sometimes the data can be confusing. To help you serve as a resource for data, trends, and other information on international real estate clients, NAR Research
offers this guide to data and analysis.
Globalization and Real Estate Presentation
(2007)
Dr. Lawrence Yun, NAR's Chief Economist, authored this authoritative PowerPoint presentation you can use. It provides an overview of world economic and real estate markets with a focus on foreign investment in
U.S. real estate.
Country Profiles
Profiles on more than fifty countries provide succinct information on real estate business, market conditions, political environment, land rights and usage, foreign ownership regulations, and cultural norms. It‟s what you need to know just when you need to know it. For the practitioner doing business in another country this information is invaluable. For local market business, understanding a foreign client‟s business and cultural background leads to a successful transaction.
www.Realtor.org/internationalselect Country Profiles
Global Real Estate Project
The University of Denver's Burns School of Real Estate and Construction Management maintains the Global Real Estate Project. The Web site offers information on the real estate business practices of eighty countries with side-by-side comparisons of country real property characteristics and trends plus cultural characteristics and business etiquette.
http://burns.dcb.du.edu.
Go to www.Realtor.org/international and select International Research
Go to the noted Web site
NATIONAL ASSOCIATION OF REALTORS® International Operations
6
The News and Information
Successful international practitioners know that market intelligence is a key factor in building their businesses and staying ahead of their competitors. But, who has time to comb through stacks of newspapers and magazines or surf the Web for authoritative, up-to-date information? NAR International does the legwork for you with news and information gleaned from diverse sources worldwide and in-depth analysis of issues, trends, and data.
Global Perspectives in Real Estate Magazine
All CIPS Network members receive Global Perspectives in Real Estate, the Network‟s quarterly magazine. It contains global statistics, in-depth analysis on international real estate markets, news and data on global, economic and political trends plus highlights from international education and networking events. Articles from past issues can be viewed in the online archive. Subscription available for non-
CIPS Network members.
International e-Report
Looking for international real estate news items for your association or firm newsletter? NAR publishes a monthly electronic newsletter, the International Real Estate Report: Global Resources for Local Markets. All of the information provided may be used in local REALTOR
® association newsletters, Web sites,
or members‟ personal marketing materials. News items include a link to the source
information for the complete article.
Weekly News Headlines
Receive international real estate news and market trends, compiled weekly by NAR‟s information specialists and categorized by region, from newspapers and magazines worldwide. This convenient weekly e-mail keeps you current on developing news and issues in Europe, Asia, Pacific Rim, Americas, Caribbean, Africa, and the Middle East. Links provide
access to full text of articles.
Go to www.Realtor.org/international and select International News
Go to the noted Web site
Field Guide to the Global Marketplace
This one-stop online resource brings a diverse range of information resources together on one Web page. You'll find links to articles, books, Web sites, statistics, networking opportunities, education courses, and more.
www.Realtor.org/LibraryField Guides International Real Estate
Virtual Library
This digital library, created especially for REALTORS
® includes a special section for
international real estate. Titles include downloadable audio books for total-immersion language learning. Check out Adobe and Mobipocket eBooks for use on a PC or handheld device, or listen on-the-go with digital audio books. The downloadable media collections also include OverDrive MP3 Audiobooks which can be transferred to a wide range of devices, including the iPod
®, iPhone™, and iPod Touch.
http://ebooks.Realtor.org
Winning Strategies and Success Case
Studies
Are you wondering if involvement in international real estate is right for you? The real estate professionals who share their success stories in these collections of articles and case studies provide valuable tips and ideas for building an international business and transferring learning
from the classroom to the real estate office.
The Global Neighborhood Report
An expert think-tank assembled by NAR developed this overview of trends, market forces, and future expectations in world real estate business. Use this document for insight on the dynamics of today‟s international real
estate market and respond to opportunities.
Your International Real Estate Business Partner
7
The Education
NAR‟s international educational offerings are designed for learners at all levels from beginner to veteran. Access to learning is not confined to a classroom and does not have to take you or your sales force away from your real estate business. Courses are offered locally through a network of REALTOR
® associations
and licensed education providers. Some offerings are turn-key programs designed for presentation in the firm. Program planners can access a cadre of qualified practitioner-speakers with real world experience and proven platform skills. Some educational programs offer credit toward other certifications and professional designations offered by NAR affiliates and specialty sections.
Certified International Property Specialist
(CIPS) Designation Courses
The CIPS designation course curriculum is the educational foundation of the CIPS Network. It distinguishes designees as individuals who have both completed an intensive program of study and demonstrated the ability to manage international real estate transactions. Requirements include completion of a prerequisite plus four required courses on specific regions and finance plus documented international real estate experience. Most courses are available online at REALTOR
®
University.
International Real Estate for Local Markets
This course opens students‟ eyes to international opportunities in their local markets. Completion of it qualifies U.S. REALTORS
® for
CIPS Network membership and starts the student on the path to earning the designation.
Offered online and in classrooms.
Transnational Referral Certification
The International Consortium of Real Estate Associations (ICREA) offers this certification course which prepares real estate professionals to make and receive compensated referrals using the system developed by ICREA. Students learn how to make and receive international referrals and increase income by referrals into their business plans. Offered in classrooms. Online in English, French, Portuguese, Spanish, and Italian.
www.Realtor.org/internationalselect “Transnational Referral Certification
Expand Your Market
REALTORS® across the nation are increasing
their businesses by expanding their market outreach to include immigrants and culturally-diverse buyers and sellers. This fundamentals course helps real estate professionals learn how cultural differences impact business transactions and provides ideas for taking advantage of increasing business opportunities. The turn-key program can be offered by any experienced international real estate practitioner at a local REALTOR
® association, company sales
meeting, or state association convention.
Doing Business in Mexico
If your clientele includes second-home buyers, retirees looking for a low cost of living, or investors, you should consider the possibility that a profitable portion of your market is “thinking Mexico.” Real estate professionals who recognize and prepare for this trend have an opportunity to be in the vanguard of a market poised for tremendous growth. Offered online
and in classrooms.
Doing Business in the United States
This course familiarizes real estate professionals from outside of the United States with the structure, operation, and legal and regulatory environment of the U.S. real estate market. It prepares them to work effectively with U.S. real estate professionals, on a referral basis, to provide quality service and align clients‟ expectations with U.S. business practices and
market conditions.
NATIONAL ASSOCIATION OF REALTORS® International Operations
8
Risk Reduction: International Business
Factors Affecting Your Local Market
This turn-key course is designed for use as in-house training for brokers or REALTOR
®
associations. Students learn about legal issues involved when working with foreign buyers and sellers such as the Patriot Act, interstate commerce regulations, reporting requirements, and other risk reduction topics. Brokers whose agents work with international clients need this knowledge too. Offered online and in
classrooms.
Presentations and Speeches
Need a presentation for a sales meeting or association program? Tap into a collection presentations and speeches made by NAR Leadership and representatives of NAR's international program. Most presentations can be customized and used by those speaking about NAR and the CIPS Network.
www.Realtor.org/internationalselect About CIPSBusiness DevelopmentSpeeches and Presentations
Speakers Cadre
Looking for a speaker for your next event? The International Speaker Cadre has a searchable database of qualified speakers. Search by name, topic, geographical location, or search the entire database for the right presenter.
www.Realtor.org/internationalselect About CIPSBusiness DevelopmentTools for International PractitionersInternational Speakers Cadre
Prepackaged Sales Meetings
Are business opportunities being lost because your agents do not understand the elements of an international real estate transaction? These downloadable free modules, specifically designed for company sales meetings, help firms educate agents about the global market and international transactions.
www.Realtor.org/internationalselect About CIPSBusiness DevelopmentTools for International PractitionersPrepackaged Sales Meetings
Forums and Education Sessions at NAR
National Meetings
Events at NAR‟s national meetings provide information and education for international practitioners plus valuable networking. Programs focus on international business development opportunities and networking events to bring practitioners together.
www.Realtor.org/internationalAbout CIPSMeetings & Events
Licensing a CIPS Course
NAR licenses CIPS courses to REALTOR®
associations, firms, franchises, proprietary schools, mortgage companies, and real estate trainers. Licensed sponsors generate net revenue from the program while offering a valuable educational opportunity.
www.Realtor.org/internationalselect About CIPSCIPS CoursesLicensing the CIPS Courses
REALTOR® University Online
REALTOR® University is NAR‟s Internet-based
online education portal. Real estate professionals can take courses online for continuing education credit, professional development, and designation certification. International real estate course offerings include CIPS courses, risk reduction, referrals, and other topics. New courses are added frequently.
www.learninglibrary.com/realtoruniversity
Go to www.Realtor.org/international and select About CIPSCIPS Education
Go to the noted Web site
Your International Real Estate Business Partner
9
The Credentials
The Certified International Property Specialist designation connects the practitioner to an active global network of real estate professionals and these valuable network connections relate directly to higher incomes. A recent study found that REALTORS
® with a CIPS designation more than double that of non-
designee peers. Why? The difference is the CIPS Network. In addition to the prestigious CIPS designation, NAR is a founding partner in the International Consortium of Real Estate Associations (ICREA) which offers the Transnational Referral Certification. Together, these credentials demonstrate investment in and commitment to professionalism.
Certified International Property Specialist
Designation
CIPS designees have demonstrated expertise in international real estate practice by completing education and experiential requirements. The CIPS designation focuses on educating real estate
professionals about transaction principles of international real estate, including specifics on real estate markets, investment trends, marketing strategies, currency issues, and financing in Europe, the Americas, Africa, Middle East, Asia, and the Pacific Rim. Topics covered in the CIPS classes also include cultural diversity. Savvy real estate professionals use the CIPS designation to distinguish themselves in their local markets. Plus, CIPS designees earn more. Median income for CIPS designees is more than $100K, compared to less than $50K for non-designees. Twice as many CIPS designees earn more than $100K than REALTORS
® in general.
1
www.Realtor.org/internationalAbout CIPS
1 (Source: NAR Marketing Research, “2008 Certified
International Property Specialist Survey”)
Transnational Referral Certification
The Transnational Referral Certification course prepares real estate professionals to make and receive compensated referrals using the ICREA
Transnational Referral System and integrate international
referrals into their business plans. The course covers finding a referral partner, agreeing on compensation, meeting customer service standards, participating in the compensation dispute arbitration process, and using ICREA business tools. www.Realtor.org/international Transnational Referral Certification
Go to the noted Web site
NATIONAL ASSOCIATION OF REALTORS® International Operations
10
The Property-Marketing Web Sites
Advertise your listings around the globe. Two property-marketing Web sites put your listings in front of an audience of millions of potential buyers. If your U.S. multiple listing service participates in Realtor.com, you have the opportunity to flag properties for international exposure on WorldProperties.com. The Global New Home Resorts Web site enables you to register buyers on a unique consumer-oriented site and earn a referral fee when the transaction closes. WorldProperties.com and Global New Home Resorts are part of the Realtor.com family of Web sites—the world‟s largest real estate portal.
www.WorldProperties.Com
The property information Web site of the International Consortium of Real Estate Associations (ICREA) advertises more than three million commercial and residential properties around the world. WorldProperties.com helps members of Consortium associations advertise properties to the global marketplace and helps consumers find properties and qualified real estate professionals around the world. As a REALTOR
® you are already affiliated with
ICREA and can take advantage of member-only services available from WorldProperties.com. just go to the Web site and register as a New User (you will need your NRDS ID#). In the U.S., REALTORS
® who subscribe to the Realtor.com
Enhanced Listing Package can flag listings as “Distinctive Properties” for upload to WorldProperties.com. As a benefit for CIPS designees, ICREA broker and agent designees are highlighted in the “Find a Professional” member search.
www.WorldProperties.com
Global New Home Resorts Web Site
One of the newest WorldProperties.com features is the Global New Home Resorts portal. This robust Web site serves consumers, buyer‟s representatives, listing and referring brokers, and builder/developers. It features top-quality new construction products by established developers with an emphasis on vacation home and investment buyers. Participation in the Web site and lead management system is an exclusive member benefit for ICREA organization members. Brokers and agents can use the unique lead management system to register interested buyer and developer clients, and provide detailed information about new developments and resort properties. When a transaction is successfully completed through the system, the referring broker or agent receives a referral fee. www.GlobalNewHomeResorts. worldproperties.com
Go to the noted Web site
Your International Real Estate Business Partner
11
The Network
Networking is essential to building a successful international real estate practice. But making quality contacts in the right places can be a bit daunting. NAR facilitates networking by bringing international practitioners together, online and face-to-face. In addition to events and meetings, the synergy of Ambassador Associations, President‟s Liaisons and Regional Coordinators, Cooperating Association partnerships, and Local International Councils creates an incomparable network of productive relationships.
CIPS Network
The CIPS Network has 2,500 members in 50 countries. Network membership is open to association executives too. Network members are listed in both a printed and searchable online
directory.
International Memberships
Real estate professionals who reside outside of the United States, and are affiliated with one of NAR‟s Cooperating Associations, have three membership options for joining NAR directly:
International REALTOR® Member
International CIPS Network Member
CIPS Designee
A direct membership option is also available for real estate professionals in markets not covered by the Cooperating Association alliance. www.Realtor.org/internationalAbout CIPSAbout CIPS Membership
Cooperating Associations
Through an international network of 76 national real estate associations in 57 countries, as well as the NAR Ambassador Associations and President's Liaisons assigned to each country, NAR maintains formal relationships with organized real estate associations around the world. View the current list of these groups including addresses, e-mail contacts, and Web sites.
www.Realtor.org/internationalForeign Cooperating Associations
International Consortium of Real Estate
Associations (ICREA)
The national real estate organizations of ICREA, collectively represent two million brokers and agents worldwide. The Consortium‟s mission is to set standards for international real estate practice and transactions for the benefit of
industry professionals and consumers. ICREA supports the Transnational Referral System and Certification as well as WorldProperties.com.
www.Realtor.org/international International Consortium of Real Estate Associations
President’s Liaisons and Regional
Coordinators
President's Liaisons, who are assigned to specific countries as representatives, help maintain NAR's important relationships with foreign real estate associations. Five Regional Coordinators are also appointed to serve North and Central America and the Caribbean; South America; Asia and Pacific; Western Europe; and
Central/Eastern Europe.
Ambassador Associations
The Ambassador Association program is modeled after the international Sister-City programs by linking Cooperating Associations with a state or local REALTOR
® association. The
Ambassador Association works closely with a President‟s Liaison and Regional Coordinator to expand global business opportunities. They also host Cooperating Association delegates at NAR meetings and during official visits to the United
States.
Local International Councils
State and local REALTOR® associations
organize International Committees or Local Councils to bring together members interested in international real estate. 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 in the growing international market.
NATIONAL ASSOCIATION OF REALTORS® International Operations
12
International Night Out
An event held at NAR‟s Midyear and Annual Conventions brings together globally-minded practitioners from the U.S. and abroad for an evening of social networking, connecting with old friends, and making new ones. International Night Out at the Annual Convention attracts more than a thousand attendees for a gala black-tie dinner and awards event where new CIPS designees and International program award winners are recognized.
www.Realtor.org/Meetings & Expo
Embassy Visits
Held in conjunction with the NAR Midyear Meeting in Washington, D.C., this program offers CIPS designees the opportunity to meet with the ambassador and commerce staff of foreign embassies. Discussion focuses on points of interests between the U.S. and the embassy country. The visits promote NAR and CIPS designees as a professional resource for the country‟s global real estate needs. Invitations are sent annually to CIPS Designees.
Market-to-Market Program
Much of the global business done by REALTORS
® takes place in local markets with
immigrant buyers, foreign investors, and Americans buying abroad for investment, retirement, or second homes. The new market-to-market initiative builds on this trend by supporting business development opportunities in specific markets or countries. The program provides resources for individual agents and brokers, as well as state and local associations. An online guide provides a planning roadmap as well as a market-to-market toolbox of resources and contacts.
www.Realtor.org/internationalMarket to Market Program
Who's Who in International Real Estate
Directory Listing
The CIPS Network directory is the referral source for international real estate. It is mailed to all Network members and Cooperating Associations as well as World Trade Centers, Chambers of Commerce, multinational corporations, relocation companies and others key constituents. All CIPS Network members are listed in the printed directory. Directory entries for CIPS designees include a photo and brief
biography. www.Realtor.org/international Personal Market Tools
Online CIPS Network Directory
The online CIPS Network membership directory features the same information as Who’s Who in International Real Estate, but is updated weekly.
www.Realtor.org/internationalFind an International Specialist
Find a CIPS Online
Search for a Certified International Property Specialist designee who can help foreigners buy in the U.S., help Americans buy abroad, or serve an immigrant niche in local markets.
www.Realtor.org/internationalFind an International Specialist
Find a TRC Online
ICREA-affiliated brokers and sales agents who have completed the TRC training on transnational referrals can be located in this online searchable database. TRCs understand the concept of paid referrals and are prepared to participate in a fee-sharing arrangement. www.WorldProperties.comFind a Professional
REALTORS® Annual Conference and Expo
and International Networking Center
With 2,000 real estate professionals from more than 50 countries, the REALTORS
® Conference
and Expo is a great opportunity to make new contacts from all over the world and a truly international event. Located on the Expo‟s main floor, the Network Center, INC for short, is the place to connect, network, and promote specific inbound and out-bound investment markets. The INC offers attendees an internationally-focused trade exhibition, country networking sessions for each of NAR‟s Cooperating Associations, and a real estate theatre for specific market and product presentations.
www.Realtor.org/Meetings & Expo
International Second Home Pavilion
NAR and SIMA, Europe's largest second home and resort exposition of worldwide properties, cosponsor the International Second Home Pavilion at the REALTORS
® Annual Conference
and Expo. This show within the show features
Your International Real Estate Business Partner
13
more than a hundred developers from the U.S. and worldwide.
www.Realtor.org/Meetings & Expo
NAR Participation in International
Expositions
NAR‟s participation in leading international trade shows facilitates networking for REALTOR
®
attendees. Its presence as a major exhibitor and sponsor raises awareness of the REALTOR
®
brand and also provides a home base for NAR attendees. For a list of major trade shows see page 19 of this guide.
www.Realtor.org/internationalUpcoming Events
Salón Inmobiliario de Madrid (SIMA)
SIMA is the world‟s largest international second homes exposition, with more than 150,000 visitors and 750 exhibitors. Its visitors include 15,000+ real estate professionals, representing 40 countries. REALTOR
® attendees receive
exclusive access to the International Business Center (IBC) which offers computers, meeting rooms, and a lounge area. Country networking hours, social events, and sponsored receptions at the IBC connect real estate professionals internationally. The annual event, held in May in Madrid, includes a professional program with speakers from around the globe and simultaneous translation.
www.Realtor.org/internationalUpcoming Events or go to www.simaexpo.com Expo Real October in Munich is the time and place for Expo Real, the International Commercial Property Exhibition, which includes 1800 exhibit booths spread among six halls and draws close to 40,000 participants. Show registration is reasonably priced and participation is very business focused. Although initially focused on European markets, Expo Real has expanded to include markets worldwide. NAR participates as an exhibitor and REALTOR
® attendees may use
the NAR booth as a meeting point, message center, and information distribution channel. NAR members and their guests are also invited to an in-booth reception.
www.Realtor.org/internationalUpcoming Events or go to www.exporeal.net
Marché Internationel des Professionnels
d’Inmobilier (MIPIM)
MIPIM is held annually in two locations—Cannes and Hong Kong. These property marketing shows focus on the commercial real estate industry in Europe and Asia but both include a growing U.S. and Latin American component. NAR sponsors the USA pavilion at MIPIM Asia. NAR members receive a discount on registration and may use the NAR booth as a meeting point, message center, and information distribution channel. NAR members and their guests are invited to participate in an in-booth reception.
www.Realtor.org/internationalUpcoming Events or go to www.mipim.com More International Events NAR International publishes an up-to-date list of expositions, global property marketing events, international business meetings and events with links (when available) for more information and registration. Events that NAR participates in or supports are noted. Although NAR does not specifically endorse all events listed at this site, it makes this information available as a service to members who are seeking additional global venues for business networking and property marketing.
www.Realtor.org/internationalUpcoming Events
Go to www.Realtor.org/international and select About CIPSAbout CIPS
Go to the noted Web site
NATIONAL ASSOCIATION OF REALTORS® International Operations
14
The Marketing
Advertising resources and sources help you reach targets around the world. Free resources include downloadable logos, professionally produced print ads, and directory listings. Real estate professionals who want to invest in more prominent advertising and public relations can choose from a menu of opportunities such as mailing list rental, event sponsorships, and display advertising. Whether promoting a destination, marketing a new development, selling a franchise, or promoting your product or service to the global marketplace, you can reach targeted prospects from around the globe.
Personal Marketing
As a benefit of membership, professionally designed personal marketing advertisements are available to CIPS designees for use in local publications or personal newsletters—camera-ready or downloadable PDF files. Please note that use of these advertisements is available only to CIPS designees.
www.Realtor.org/internationalPersonal Marketing Tools
Logo Downloads
Logos for CIPS, and the REALTOR® “R” can be
downloaded at www.Realtor.org/international. The TRC logo can be found at www.WorldProperties.com. Use these logos on print pieces, business cards, stationery, Web sites, and promotional items. Please note that only those who have earned the CIPS designation or TRC certification may use those logos.
www.Realtor.org/internationalPersonal Marketing Tools
CIPS Network Directory Advertising
CIPS Network Members may purchase expanded listings in Who’s Who in International Real Estate, the CIPS Network Directory. Full, half, and quarter page display advertising makes advertisers‟ contact information and expertise
stand out.
Global Perspectives in Real Estate
Magazine Advertising
Global Perspectives in Real Estate is the quarterly professional magazine of the CIPS Network. This authoritative publication is reaches all CIPS Network members plus Cooperating and Ambassador Associations and Local International Councils. Ad options include half- and quarter-page ads, inserts, and blow-in
ads.
CIPS Network Mailing List Rental
The CIPS Network membership mailing list is available for one-time use direct mail. Self-adhesive mailing labels can be provided for the full Network list or U.S. residents only. NAR reserves the right to approve contents of
mailing.
Sponsorships
Build market awareness and prestige through a sponsorship at the NAR Conference & Expo. The basic sponsorship package includes a display area, recognition in the printed program distributed to all 20,000+ registrants, a web link from the Realtor.org Convention and International Web pages, and more. Sponsorships packages are available at three levels, from basic to premium, and NAR‟s International Operations staff can help you identify the sponsorship opportunity that best fits
your budget and promotional goals.
Go to www.Realtor.org/international and select Advertise with Us
Go to the noted Web site
Your International Real Estate Business Partner
15
The Future—Emerging Markets
You‟ve read about it in newspapers and seen it on news broadcasts and blogs. Real estate is booming in China, India, and other emerging markets. NAR is in the forefront of creating orderly markets, instilling best practices, and opening business opportunities. When your real estate business involves developing- and emerging-market clients or properties, you can be assured that NAR International Operations has already accomplished the advance work to bring order to the market and transparency and reliability to the transaction.
China—Education and Membership
Initiatives
China is the world‟s most populous nation with a foreign exchange reserve over $1 trillion, and $63 billion in foreign direct investment. Through alliances with government and private training centers, NAR is introducing U.S.-style real estate sales education. NAR membership options are also being explored. This initiative promises substantial long-term business development opportunities for REALTORS
®.
www.Realtor.org/internationalCountry ProfilesAsia-PacificChina
India—Association Development and
Industry Best Practices
In 2007 NAR, with support from the International Real Property Foundation, facilitated the formation of a new, truly national association—the National Association of Realtors-India. The alliance with NAR-India opens the door for introduction of U.S.-style industry best practices in the second most populous nation in the world and a rapidly expanding real estate market.
www.narindia.com
Mexico—AMPI Joint Venture with NAR
In 2006 AMPI and NAR formed a joint membership venture. All 1,500 members of the Asociacion Mexicana de Profesionales Inmobiliarios (AMPI), Mexico‟s national association for real estate professionals, are now International REALTOR
® members. Dues
revenue is reinvested in AMPI‟s organizational development and international business outreach activities. The Mexican market is of great significance to the U.S. real estate industry and not only because of the shared border. More than one million Americans live in Mexico—25 percent of all Americans living abroad, and it is a premiere retirement and vacation destination.
www.ampi.org
International Real Property Foundation Originally founded in 1992 to support real estate markets in democratizing former Soviet Bloc countries in Eastern and Central Europe, the IRPF's objectives have broadened to include real estate association development around the world. The Foundation supports formation of professional real estate associations. IRPF helps members and professional staff develop leadership and management skills as well as formulate strategic business plans to further organizational and market development.
www.IRPF.org
International Housing Coalition
NAR is a founding member of the International Housing Coalition which is dedicated to the goal of „Housing for All.” The coalition advocates for the basic principles of private property rights, secure tenure, effective title systems, and efficient and equitable housing finance systems. These principles are essential elements to furthering economic growth and development as well as civic stability and democratic values. The Coalition is a thought leader in the United Nations World Urban Forum which addresses one of the most pressing issues facing the world today—rapid urbanization and its impact on communities, cities, economies and policies.
www.intlhc.org
Go to the noted Web site
NATIONAL ASSOCIATION OF REALTORS® International Operations
16
Extra: Trade Shows
For international real estate in Internet age, the trade show may be the one time when business contacts have an opportunity to meet face-to-face. Trade shows offer networking, comparison shopping, cost-effective sales contact, education, an opportunity for keeping an eye on the competition, and exposure to new ideas, products, and trends. For exhibitors, it is an opportunity to concentrate the sales staff in one location and market to decision-makers as well as maintain market visibility and position.
Selecting Shows to Attend
When selecting where to invest trade-show
attendance resources, the first question is what
is your business focus? If concentrating in a
niche market is your aim, shows with a very
specific or local-market focus may be the best
choice. If expanding your business reach is the
goal, the large international expositions are likely
the place you want to be.
Start by setting specific objectives for trade
show attendance. A plan to hand out business
cards and check out new products is not much
of a plan at all. It can leave you wandering up
and down the aisle with a dazed look, grabbing
up brochures and loading up on promotional
items—the freebies—to take back home. If you
know what your objectives are in attending trade
shows, it will be easier to select the shows to
attend. On the other hand, if your goals are
vague, it may be a sign that you need to take
more time to consider why you are attending a
particular show or that you need to learn more
about it.
Professional show organizers compile
information on both exhibitors and attendees
and this data should be the “first-sort” when
choosing which shows to attend. Talk to others
who have attended the show and ask about their
experiences; ask if they attended the show for
specific reasons and if their objectives were met.
Get the most for your trade-show investment by
selecting well-established, professionally-
managed expositions. If you choose to attend a
new exposition, realize that the first year of an
exposition is a learning experience for the
organizer and the exhibitors.
A Little Planning Goes a Long Way
Strategize how you will accomplish your specific
objectives based on the show advance
information. Many exposition organizers publish
an advance list of exhibitors—in a printed piece
or on a Web site. Read over this advance listing
and prioritize exhibits into “must-see” and “like-
to-see” categories. The exhibitors that appear to
be of most assistance in meeting your business
goals will be your “must-see” list. If the show
organizer provides a pre-expo booth map, make
notes on the map of the location of must-see
exhibits or use a highlighter to mark first- and
second-priority exhibits. Consider contacting
sales representatives of must-see vendors
before the show to set up appointments; plan
the action you would like to see happen so you
will be more likely to work toward it.
Don‟t discard those “stop by our booth” preshow
announcements received from exhibitors; take a
minute to scan the announcement and note
those that look like a good fit with your
attendance objectives.
Your Personal Script
Prepare a brief (1 minute) speech that quickly
communicates your goals to an exhibitor. Your
personal script should answer the questions:
What do you (your company) do?
Why are you at the show/convention?
What are you looking for?
When you are prepared with responses to these
questions, which will be asked repeatedly in
various forms, you can pay closer attention to
the exhibit and also modify your responses to
meet the situation.
Extra: Trade Shows
17
During the Show
When you arrive at the show, check the on-site
booth map against your preshow plan and verify
booth locations. Booth numbers and locations
can change at the last minute and you do not
want to waste time hunting for the exhibits on
your must-see list.
Visit must-see exhibits first. Some veteran show-
goers advise walking the entire show floor first to
get an overview of locations and booths of
interest. This approach can work at small
expositions, but at large shows with multiple
halls, you can tire yourself out just walking the
aisles before ever getting down to business.
When you approach a booth, look for everything
that provides insight about the company from
the professionalism and condition of the display
to the attitudes of the booth attendants. Does it
seem like the company is there because they
feel obligated? Do the booth representatives
seem genuinely interested in interacting with
show attendees? Look at what the exhibitor is
demonstrating and offering as raffle prizes and
giveaways as this will tell you who the exhibitor
sees as the primary customer and who they
want to appeal to. You can also gain interesting
information and insight by asking exhibitors the
question they most often pose to attendees—
why is your company exhibiting? It may seem
obvious on the surface, but asking why a
company is at a show can turn up some
interesting information.
Major exhibitors with multi-booth space displays
tend to dominate the prime spots in the show
near the entrance and in central locations. But
the fringe of the show floor may be where the
start-up companies and new ideas show up first.
When you do find one of these hidden gems,
consider scheduling an appointment with the
exhibitor, like a coffee break or lunch, to learn
more.
Don‟t forget the educational sessions that
happen around the exhibit. Large exhibitors or
the show organizer sometimes set up a theatre
setting for product presentations. For example,
at the International Networking Center (INC) at
NAR‟s Annual Conference and Expo sales
representatives present information on new
developments and destinations; it‟s an excellent
opportunity to learn first-hand about new
products and business propositions as well as
check out the competition.
Attending an exposition, particularly the mega
shows with multiple exhibit halls, is very tiring.
Of course, you need to schedule some down
time but time spent in your hotel room during
expo hours is wasted. Fortunately, most shows
provide lounge and refreshment areas where
attendees can relax for a few minutes. Building
in a break and snack every couple of hours can
help you regroup as well as maintain focus and
stamina.
Attention Please
During an exposition there are a myriad of things
that compete for your attention. Exhibitors who
invest a lot of time and money have their own
objectives and will try to control your time and
attention. Just remember that your own
objectives take priority. If you are prepared with
talking points before approaching a booth you
will be able to ask specific questions. If the
answers to your questions are not the ones you
need or want, move on. The alternative is to
allow the booth representatives to control the
interaction, pepper you with questions, and steer
the conversation. However, once your own
objectives are met, allowing booth staff to pitch
their products is a good way to learn about new
things.
Debriefing
If you are attending the show with others from
your company or association, plan to meet daily
to maximize show coverage, avoid duplication,
and learn about new products that you may
have overlooked in preshow planning. Even if
you are on your own, take time at the end of the
day to debrief yourself and jot down some notes
about attending the show. If will help you
evaluate if you are achieving your objectives;
you can refer back to these notes when deciding
if it is worthwhile to attend a future show.
After the Show
After a show, exhibitors may have several
hundred contacts for follow-up. This post show
follow-up should be top priority, but the truth is
some companies are better at it than others. If
NATIONAL ASSOCIATION OF REALTORS® International Operations
18
you really want to build your network quickly and
receive priority treatment from vendors, initiate
the follow-up yourself by sending a thank you
note or e-mail or making a phone call. Exhibitors
seldom hear from show attendees, so if you
follow-up it will make a big impression.
Mission Accomplished?
Review your preshow objectives and notes from
on-site daily debriefings. Did you accomplish
your objectives? Did the attendance experience
meet your expectations? Was attendance worth
the investment of time and money? If you attend
in the future, what will you do differently or the
same? Ask other attendees about their
impressions and future participation plans—
others‟ opinions can help you make a decision
about future attendance by refuting or
reinforcing your perceptions. Keep in mind that
that a developing an international real estate
practice requires a long-term commitment and
investment; it may take some time to full realize
the benefit of attending an event or trade show.
Smart Participation
Is What You See, What You Get?
How you present yourself says a lot about you
and your company—and not always the
message you would like to convey. Your
behavior demonstrates to observers what type
of behavior is acceptable in your business;
professional behavior and demeanor are best.
Observe how other attendees and exhibitors are
dressed; if they are dressed in business attire
you should be too, if you want to present the
right image. If business casual is acceptable
then the emphasis should be more on business
than casual; attending a trade show is work, not
a vacation.
Travel Light, Travel Right
Invest in no-wrinkle business or business-casual
clothing for travelers. Clothing designed
specifically for travelers packs light, resists
wrinkles and stains, and is often designed with
hidden pockets to discourage pickpockets.
Particularly now that airlines are cutting back on
luggage allowances, packing light is more
important than ever. If you leave something
essential behind, a quick trip to a clothing store
can solve the problem. A travel-size stain-
remover spray or stick can come in handy too.
Healthy Attending
As trade shows bring together people from far-
flung places, they can also bring together some
exotic germs to which your immune system has
little defense. If you are concerned about picking
up germs from hand shaking, shared restrooms,
public transportation, common eating areas, and
the like, plan ahead by assembling a small pack
containing hand sanitizer, a pump-spray bottle
with disinfectant, and pre-moistened towelettes.
Business Card Etiquette
Just as your attire and demeanor reflect your way of doing business, so does the manner in which you give and receive business cards. If you give out your cards like you are dealing a hand at a poker game, you are likely sending the wrong message about your business conduct, intentions, and prospects. It is polite to accept any card that is offered (you can discard it later if it is not needed) and offer your card in return. Thank the giver, examine the card briefly, make a comment on the card such as, “Oh, I see your office is located in …” Put the card away in your jacket or purse, never in a hip or back pocket. When exchanging business cards, you will make a positive impression if you take time to chat for a minute and find out if you have anything in common with the other person.
Not the Time for Complaints
The trade show is not the time or place to make
complaints about a service or product. The
people who can resolve a problem are most
likely not those staffing the booth and you will
create an embarrassing situation for all involved.
If you feel you must use this time to discuss a
complaint, make an appointment with the
exhibitor or, at the very least, find a place that is
out of earshot of other booth visitors.
Is Photography Permitted?
If you plan to take photographs of the show or
booths, find out first if it is permissible. Some
trade shows do not allow photography on the
show floor as a way to prevent competitors from
scooping each other.
Extra: Trade Shows
19
Hello, My Name I….
A badge holder on a cord around the neck is the
current fashion for name badges. This has the
unfortunate effect of causing one to stare at
another‟s midsection to read the name on the
badge. You can prevent this awkward situation
by pinning the badge in the right-lapel position or
shortening the cord so that the badge is
positioned higher on your chest. This allows
someone who shakes hands with you to quickly
and discreetly note your name.
Glitz and Glamour
Understand what “hits your hot button” on the
show floor. Is it glitz and glamour, a showy
display, celebrities, entertainment, refreshments,
raffle prizes? These hot-button items are there
because exhibitors know that they attract and
hold attention, but they also use up your time
and make you more vulnerable to an unwanted
sales pitch.
Eat Right
Power up with a hearty breakfast and energy
snack breaks throughout the day. However,
professional booth staff do not eat or drink when
on duty and it‟s a good idea to follow this
example as an attendee too. Strolling through
the exhibit hall aisles with a drink or coffee cup
in hand is not a good idea. Aside from the
hazard of spillage—on yourself, others, and
exhibits—you should keep your right hand free
for shaking hands.
Stay at the Headquarters Hotel
Attending the show is not the time to economize
by booking an inexpensive hotel some distance
from the expo locale. You will waste time
traveling back and forth between your hotel and
the exhibit hall. If you want to set up a meeting
at a hotel, the headquarters hotel is usually the
most convenient location. Plus, large expos
provide shuttle service to the headquarters and
officially designated hotels—a time and money
saver.
International Trade Shows and Events
Americas Real Estate Expo*
Central American
www.americasrealestateexpo.com
AMPI Conference*
Mexico
www.ampicongresonacional.com
Barcelona Meeting Point
Barcelona
www.bmpsa.com
Cityscape USA
New York
www.cityscape-usa.com
Cityscape China
Shanghai
www.cityscapechina.com
Expo Real*
Germany
www.exporeal.net
FIABCI World Congress*
www.fiabci.com
Mercado Inmobiliario Turistico (MINT)*
Mexico
www.travex.com.mx
MIPIM Europe*
Cannes
www.mipim.com
MIPIM Asia*
Hong Kong
www.mipimasia.com
Panama Spectacular*
Panama City
www.us-panama.org
RECon Global Retail Real Estate
Convention
Germany
www.icsc.org
REALTORS® Annual Conference and Expo*
USA
www.Realtor.org/meetings-and-expo
SECOVI Master Immobiliaria and Trade
Show
São Paulo
www.secovi.com
SIMA*
Madrid
www.simaexpo.com
* NAR Participation
NATIONAL ASSOCIATION OF REALTORS® International Operations
20
Extra: Trade Missions
Real estate trade missions develop relationships, build networks, educate participants about other markets, and showcase development opportunities. By contrast, many industries and government organizations, including the U.S. Department of Commerce, understand the concept of a trade mission as an event during which business deals are transacted between companies. Although a real estate trade mission might more accurately be termed a study tour, within the REALTOR
® organization, it is a market-
or country-specific trip focused on development of relationships and members‟ business opportunities.
Setting Objectives
Determining the organization‟s objectives is the first step for any successful trade mission: what do you want to accomplish? If this is a first trip to a country, particularly if yours is an Ambassador Association, your objectives may be as basic as learning about the country‟s real estate market and developing a networking business relationship between members. More advanced objectives might be showcasing a specific development opportunity to foreign investors or representing investors seeking property opportunities abroad. The trade mission objectives will be the foundation for the rest of the planning and decision making regarding the trip.
All About You? All About Us?
Experienced trade mission planners attest that the most successful mission are those that give equal focus to the both the traveling and host group‟s objectives. U.S. groups are more likely to be interested in building referral networks, while non-U.S. groups are more interested in facilitating foreign investment. However, common ground, such as identification of local partners, can be found, if both the visiting and host groups understand each other‟s objectives from the start.
Build Association Support
Leadership support is essential before planning a trip. Begin by informally talking to members about the idea, particularly those who might like to participate. Don‟t assume that members automatically understand the value of a trade mission. It may be necessary to educate them on the potential benefits and communicate the value of the endeavor. Sounding out association leadership and influencers can generate interest, gauge the level of support, secure support before proceeding with a formal proposal or authorizing committee motions.
If there is sufficient interest and support, the next step is a formal proposal and an authorizing motion by the association‟s board of directors. The presentation to the board should be rehearsed with a group of observers so that the presenter is prepared to respond to common questions and objections, including costs and value to the association. An important cost factor to address is expenditure of staff time.
Focus on Cooperating Associations
REALTOR® association trade missions should
focus on developing relationships with those organizations that are NAR Cooperating Associations. These organizations have already established a bilateral agreement to cooperate and have established connections with NAR. The bilateral agreement, along with appointments of ambassadors and liaisons, provide the initial groundwork for deepening relationships between markets and real estate professionals. Formalizing alliances between associations, outside those appointments made by NAR, is not encouraged. Cooperating Associations have indicated that such agreements add administrative burdens and do little to support the business development opportunities between members.
Making Initial Contact with the Host
Before finalizing a destination or travel dates, contact the host association to discuss the organization‟s interest in hosting a group, whether the timing is good for the host, resources or support available, and the appropriate size and makeup of the group. Ask:
Are you interested in developing a
relationship between our markets?
Does your area get buyers from this country
on a recurring basis?
Extra: Trade Missions
21
What are the licensing laws for real estate
practitioners?
What are the common business practices?
How is property transferred?
What is the commission situation?
Are referrals a common practice?
Role of NAR
Advise other key constituents of plans for the trade mission including the national President‟s Liaison and Ambassador Association; both of these contacts can help facilitate contacts and planning. The President‟s Liaison should be involved in the planning process and may be the best person to initiate contact with the host group.
Who Should Participate?
Group participants should have comprehensive market knowledge and ability to discuss a range of property types. They should also have a baseline of understanding of international transactions. Travelers must be self-motivated to make their own appointments outside of the group schedule. Inviting participants from outside your market may present a conflict and is an issue you may need to address. Conversely, broadening the group will create a more interesting mix for the host organization. Experience suggests that twenty to thirty is about right for a real estate group. The size of your group may be determined by something as basic as the number of seats on a bus. The problem of more interest than available spots is a nice one to have, but you may wish to decide in advance who will have priority in reserving spaces; for example, CIPS designees, large brokers, or local council members may be offered first priority for trip sign up. The inclusion of spouses should be determined up front. Determine a cut-off date for payment and cancellation without payment penalty.
Planning Travel and Logistics
Don‟t assume that the host organization is prepared or able to handle trip logistics. Plan to work with professional travel planners, one locally and another in the destination country. Your local travel planner will likely have the best knowledge of airfare routes and deals; a travel planner in the target destination will have the best local connections and knowledge of hotels,
transportation, and touring. You may want the travel planners to accompany the group to manage travel and hotel logistics. Ask around for recommendation on travel planners and seek advice from the host organization on local resources. Begin early to assure the best choice of dates and rates. Traveling off-season can keep costs down.
Piggyback on Other’s Planning
Experienced planners advise that a smart way to avoid the hassle of trip planning is to hook up with other organizations who plan trade missions, such as chambers of commerce, sister cities, trade centers, or even corporations with a vested interest in international business development. Piggybacking on another organization‟s efforts relieves the association leadership, staff, and volunteers of the responsibility for planning travel logistics as well as handling travel reservations and trip sign-ups. Working with another organization can also prevent the perception of the trade mission as a leadership perk.
Planning Trade Mission Activities
Although the host organization is likely to play a major role in identifying activities and contacts, there are additional resources you can explore, including the Sister Cities program, the U.S. Embassy (most have a commercial attaché) in the country, World Trade Center (both locally and abroad), international franchise organizations, private property marketing companies, real estate research departments of universities located in the destination country, and local/regional economic development groups. Host associations should be free to initiate contact with local government, chambers, and other groups on behalf of the traveling organization, even if the visiting group has direct contacts. If the visiting organization is interested in meeting with a group other than the host, this should be discussed between the two groups to avoid embarrassment or disappointment. Maintain regular communication with the host organization to ensure the both groups are in agreement on key events, scheduling, costs, and other aspects of the trip. Written confirmation is best to avoid possible misunderstandings.
NATIONAL ASSOCIATION OF REALTORS® International Operations
22
Planning Trade Mission Activities
Trade mission itineraries are a combination of business, social, and education activities. Business development opportunities for members should be the guiding force for planning trade mission activities. If the host association is assisting in planning, provide a general outline of the preferred schedule and be prepared to defer to the hosts on some matters. REALTOR
® associations also usually include
organizational business activities in the mix. Typical activities are: Business
One-on-one meetings
Property and technical tours
Presentations
Seminars for buyers
Company-to-company and one-to-one
meetings
Participation in a trade show or conference Social
Welcome event
Program on the host country
Daily briefing
Joint networking events
Experiencing local foods and customs
Embassy Receptions
Sightseeing
Entertainment unique to the host country
Language orientation session
Group meals Education
National and regional conference
Panel discussions
Skill transfer sessions
Presentations on business models
Information exchanges
Q&A sessions
Literature packets
Embassy briefings Organizational Business Activities
Establish and maintain relationships
Evaluate mutual needs, interests and
expectations
Market or deliver education program
Share business models and best practices
Plan program development
Clarify roles and primary contacts
Role of NAR
Key areas of responsibility for NAR are to:
Offer a clearinghouse of resources and
contacts
Provide coaching
Identify opportunities and bring parties
together
Promote trade mission opportunities and
recognize successful endeavors
Promoting the Trade Mission
Build excitement for the event through e-mail briefings, information about the country, useful foreign language phrases, weather updates, host organization information, business protocol, Web sites, and the like. Generate excitement in ways related to the destination such as information packets, a program on the destination country‟s history and culture, and pre-trip briefings.
During the Trip
Ensuring participants stay actively involved with the trade mission is a factor to consider in recruiting participants. While there is no guarantee this won‟t happen, setting expectations as part of the recruitment process and stressing involvement during the trip can minimize participants going off on their own. The traveling group should meet each morning to review the day‟s schedule, concerns, and opportunities. Documenting each day‟s activities in detail, with many photos, provides a nice record of the event. It also helps in evaluating the overall success of the endeavor as well as marketing future trade missions. Collect literature on the country‟s market, business practices, industry resources and the like. Consider documenting the trip on your Web site. A trade mission blog can be a fun and collaborative way to document the group‟s activities, even while the trip is in progress; just be sure that blog posts emphasize business more than social activity. The group may wish to provide gifts to individuals who play a key role in hosting the trade mission. Generally, gifts should be representative of your homeland and may be small gestures. Inquire with the host association in advance if any gifts will be presented to the visiting delegation so that you will be prepared to respond in kind.
Extra: Trade Missions
23
Be on the lookout for concrete examples of business-development value happening for members. Real estate trade missions tend to plant the seeds of future business and it is easier to follow up later if you have a record of prospective business in development. Be flexible to changes on-site—no trip comes off exactly as planned. During the marketing stages, members will look for a full schedule of activity to maximize value for time and cost. In implementing the plans, some unstructured time will allow travelers to pursue personal interests and may keep them from skipping group activities.
After the Trade Mission
Comparing the original objectives with trip experiences is one way to evaluate the effectiveness of the endeavor. Another is surveying participants immediately after the trade mission and again about six to twelve weeks later. Offer the opportunity for members to provide testimonials. Ask travelers if:
they think that business contacts will result
in actual business
personal business goals were met
the local market will benefit
the experience will help in local marketing
it was it worth the cost, enjoyable, and
informative The survey is also an opportunity to remind travelers to follow up with contacts to enhance the chance of future business transactions. Ask for feedback from the host association regarding the event and whether it was of value to their members. They may be a source of success stories you haven‟t yet identified. You can use post-trade mission evaluations as an opportunity to market the association‟s related international programs and services, such as CIPS courses and local council membership. Provide NAR with a report of the trip for promotional and clearinghouse purposes.
Participate Smart
At networking events, accept any card that is offered (you can discard it later if it is not needed) and offer your card in return. Thank the giver, examine the card briefly, make a comment
on the card such as, “Oh, I see your office is located in …” Put the card away in your jacket or purse, never in a hip or back pocket. Take time to chat for a minute and find out if you have anything in common. If you give out your cards like you are dealing a hand at a poker game, you may be sending the wrong message about your business conduct and prospects. Carry cards with you to a social event, but the exchange of cards should be private so as not to turn a party into a sales pitch. It is best not to initiate an exchange of cards during meal service; wait until the meal is concluded. Take the time to prepare and rehearse a brief (1-minute) speech that quickly communicates your goals for participating in the trade mission. Your personal script should answer the questions:
What do you (your company) do?
Why are you participating in the trade
mission?
What do you hope to accomplish?
When you know in advance how you will respond to these questions, which will be asked repeatedly in various forms, you can communicate succinctly, pay closer attention to the other person, and modify your responses to meet the situation. If you are working with an interpreter, speak in short sentences or phrases and pause for the interpreter to translate. When speaking, look at the person you wish to address, not the interpreter. Try to avoid slang or jargon that the interpreter cannot translate. Interpreters are often not familiar with industry and technical terms; it may help to prepare an list of such terms. Also supply the interpreter with a list of names and titles of contacts you will be meeting and the purpose of the meeting. If possible, spend a few minutes conversing informally with the interpreter before meetings with business contacts; this provides an opportunity for the interpreter to become familiar with your speech cadence and pace.
More Information
For a comprehensive guide to trade mission planning and protocol plus extensive resource Internet directory, go to www.Realtor.org/internationalAbout CIPS Association Resources.
Global1
one market. one network. one world.
Global1
your market. one network. one world.
Global
your business has no borders.
430 N. Michigan AvenueChicago, IL 60611Phone: +1.312.329.8272www.realtor.org
NATIONAL ASSOCIATION OF REALTORS® International Operations
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NAR’s International Network of Cooperating Associations
NAR‟s International Network of Cooperating Associations includes 76 national real estate associations in 57 countries. NAR hosts more than 2,000 international real estate professionals every year—at national meetings as well as delegations and individuals. Argentina I
Australia I Austria Bahamas Belgium Belize Brazil I Bulgaria Canada I Chile China Colombia Costa Rica I Czech Republic I Denmark I El Salvador I Finland I France I Germany I Greece I
Guatemala Honduras Hungary India I Indonesia Ireland I Israel Italy I Jamaica Japan Korea Latvia I Malaysia Mexico I Netherlands I New Zealand I Nicaragua Norway I Panama I Paraguay Peru
Philippines Poland I Portugal I Romania Russia I Singapore Slovak Republic South Africa I Spain I Sweden I Thailand I Turkey Ukraine I United Kingdom I Uruguay Venezuela I Vietnam
I = Member, International Consortium of Real Estate Associations (ICREA) as of August 2008.