For many, the connection to global begins at a local level. The 2016 Profile of International Activity in U.S. Residential Real Estate Activity statistics show that 59% of the international purchases made in 2015 were made by resident foreigners, which are non-U.S. citizens who are recent immigrants or temporary visa holders. In other words, these buyers are already living in your area but need a REALTOR® with specialized skills to help them navigate their first real estate transaction.
The primary focus of Global Business Councils is to provide support for REALTORS® like you at the state and local level. A Global Council can provide you with the resources in your area to help you successfully navigate an international transaction. They can connect you to the local experts for financial matters, attorneys in your area that work with visa or immigration issues, and link the commercial and residential members in your area that are working together to help international clients. In addition, they can show you local indicators of global business and help you grab hold of it. Whether you are new to international business or have experience, Global Business Councils can provide tools and knowledge to support you in your endeavor. Here are some quick facts on Global Councils:
- NAR currently has over 120 Global Councils in various markets across the U.S., both at the state and local level.
- Global Councils are comprised of volunteer members who are typically CIPS Designees or those interested in expanding their global reach, and supported by association staff liaisons.
- Global Councils provide members with news, tools, resources, legislative updates, NAR research and education, and networking opportunities.
- Global Councils help organize association Trade Missions to NAR’s partnering countries.
- Global Councils are one of the many crucial pieces NAR needs for a solid relationship between U.S. REALTORS® and real estate professionals and clients abroad.
Global Council Accomplishments
Already in 2017 NAR’s Global Business Councils have made strides in bringing global awareness to their members. Each year, councils who have gone above and beyond are recognized with a Global Achievement Program Award at the REALTORS® Conference & Expo. Click here to view last year’s winners, and check out the individual councils to get an idea of what these groups offer. Is your Global Business Council an award-winning council? If not, help them achieve this by getting involved!
Connect with Your Current Global Business Council
If you have not yet connected with your Global Council, we encourage you to do so. Global Councils can help you build a sustainable business strategy and connect you with knowledgeable professionals in the field. Councils often have events addressing topics such as legislative issues impacting foreign buyers and sellers, create networks with related professions in the real estate industry (lenders, immigration or tax attorneys, etc.), and provide research and data on the buying and selling habits of international clients in your area. Many councils even host Certified International Property Specialist (CIPS) designation courses, and their leaders can attest to the positive impact the designation has had on their career, whether it be through the cultural knowledge, travels, friendships, or additional business that came as a result. This is just a taste of what Global Business Councils can offer you. Click here to search for a Global Council near you and find out for yourself!
Start a New Global Business Council
Don’t have a Global Council in your area? Click here and learn the steps toward starting one at your association. Spearheading a Global Business Council could help you change the way your community does business on global scale, keeping both local REALTORS® and foreign buyers happy.
Whether you connect with a current Global Business Council or decide to reach out to your association to start building your own, connecting with global will change you career and community for the better. The world can be an overwhelming place, let a Global Business Council be your guide. Click here for more information or to find a council near you.