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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?
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Illinois Association of Realtors®Multicultural Summit
Europe: what's in it for you?
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Raise your hand if…. Sell Commercial Real Estate
Lease Commercial Real Estate
Rent Residential Property
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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
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Who are the most prevalent foreign buyers in your local
market?
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Illinois
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Investment BuyersAffordability- Weakened U.S. Dollar
Accessibility- ORD Major International Hub
Solid Rental OptionsSupply
Types of Foreign Buyers in Chicago?
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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
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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
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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
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Executives Working Abroad
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Questions about U.S. buyers investing in Europe
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What European countries appeal to the US buyers you are
advising?
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Why are your U.S. buyers considering Europe ?
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Why should an Illinois Real Estate professional be interested in
Europe?
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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
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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
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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!
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Foreign Direct Investment in the U.S.A.
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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
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Search, view and explore global properties
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Anticipating the Expectations of European Clients
• Explaining how US real estate is bought & sold
• Explaining how US real estate is managed
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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
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Your NAR Contacts for Europe
• International Realtor® Members
• CIPS designees• European associations
cooperating with the NAR• Ambassador Associations,
Global Councils• NAR President’s Liaisons
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Trade Shows in Europe
• Business-to-business trade shows
• Business-to-consumer trade shows
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Working with a European counterpart:• Protecting your interests
• Protecting the interests of your client
• Controlling the transaction
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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
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Questions?
Bruno CrosbyManager, International Market Development
Global Business and Alliances DivisionNational Association of REALTORS®
[email protected] 329 8829