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INTERNATIONAL BUSINESS GUIDE

INTERNATIONAL BUSINESS GUIDE

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  • Global your business has no borders. 75+resources and services for the InternatIonal real estate ProfessIonal
  • ® NATIONAL ASSOCIATION OF REALTORS 430 North Michigan Avenue Chicago, Illinois 60611 USA Phone: 312.329.8489 NARGlobe@realtors.org www.Realtor.org/international NAR International Operations Staff Miriam Lowe, Vice President Judy Perez, Senior International Educational International Operations Specialist 312.329.8392 312.329.8412 mlowe@realtors.org jperez@realtors.org Carol Weinrich, Managing Director Bethsy Sachs, Executive Secretary International Operations 312.329.8392 312.329.8820 bsachs@realtors.org cweinrich@realtors.org Tamala Thomas, Coordinator Elena Carrillo, Manager International Operations Strategic Accounts 312.329.8369 312.329.8272 tthomas@realtors.org ecarrillo@realtors.org Heidi Henning, Manager International Education and Membership 312.329.8376 hhenning@realtors.org Jennifer Wiziarde, Manager International Networks 312.329.8389 jwiziarde@realtors.org Ye Xiannian, Manager International Business Development 312.329.8829 xye@realtors.org ® ©NATIONAL ASSOCIATION OF REALTORS , 2008 All rights reserved.
  • Your Global Real Estate Business Partner Quick List Refer to the noted page number for information about the resources, services, and information described in this guide. Ambassador Associations, 11 Global New Home Resorts, 10 Online Network Directory, 12 Americans Buying Homes Global Perspectives in Real Abroad, 4 Estate Newsletter, 6 Personal Marketing, 14 Audio Books, 6 Global Perspectives in Real Prepackaged Sales Meetings, 8 Estate Newsletter Presentations, 8 Camera-Ready Ads, 14 Advertising, 14 President’s Liaisons, 11 Certified International Property Global Real Estate Project, 5 Profile of International Home Specialist Designation, 9 Global Resources for Local Buying Activity in Florida, 4 China—Education and Markets e-Newsletter, 6 Profile of International Home Membership Initiatives, 15 Globalization and Real Estate Buying Activity in the United CIPS Course Licensing, 8 Presentation, 5 States, 4 CIPS Designation Courses, 7 ® CIPS Network, 11 ICREA, 10 REALTOR University Online, 8 ® CIPS Network Directory India—Association REALTORS Annual Conference Advertising, 14 Development and Industry and Expo, 12 CIPS Network Mailing List Best Practices, 15 Referral fees,Global New Home Rental, 14 International Consortium of Resorts, 10 CIPS Network Member Benefits, Real Estate Associations, 11 Regional Coordinators, 11 3 International e-Report, 6 Risk Reduction, 8 Cooperating Associations, 11, International Housing Coalition, Road Map to Information about 25 15 the Foreign Born, 5 Country Profiles, 5 International Memberships, 11 International Networking SIMA, 13 Doing Business in Mexico, 7 Center, 12 Speakers Cadre, 8 Doing Business in the United International Night Out, 12 Speeches, 8 States, 7 International Operations Staff, 2 Sponsorships, 14 International Real Estate for State-by-State International Education Sessions, 8 Local Markets, 7 Business Activity Reports, 4 Embassy Visits, 12 International Real Property Success Case Studies, 6 Expand Your Market, 7 Foundation, 15 Extra: Trade Missions, 20 International Second Home The Global Neighborhood Pavilion, 12 Report, 6 ® Field Guide to REALTORS and Total-Immersion Language the Global Marketplace, 6 Local International Councils, 11 Learning, 6 Find a CIPS Online, 12 Logo Downloads, 14 Trade Shows, 16 Find a TRC Online, 12 Transnational Referral Foreign Investment in U.S. Real Market-to-Market Initiative, 12 Certification, 7, 9 Estate, 4 Market-to-Market Toolbox, 12 Foreign-Born Population in the Mexico—AMPI Joint Venture Virtual Library, 6 United States, 4 with NAR, 15 Foreign-Born Residents by MIPIM, 13 Weekly News Headlines, 6 State, 4 Winning Strategies, 6 Foreign-Speaking Residents in NAR Participation in World Urban Forum, 15 the United States by State International Expositions, 13 WorldProperties.com, 10 and County, 4 News items Association/Firm www.Realtor.org/International, Forums, 8 Newsletter, 6 3 1
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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. 2
  • Your Global Real Estate Business Partner 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 3
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 Foreign-Born Population in the United States in the United States (2007) This spreadsheet depicts the foreign-born You don‟t have to pack a suitcase or buy a plane population trends in each county from 1996 to ticket to experience international real estate. 2003. Find out who's coming and going.  NAR‟s comprehensive research on purchases of primary and vacation homes by international clients shows that one-third of REALTORS ® Foreign Languages Spoken in the United experience international real estate business in States their home markets. Use this research study to After English, which languages are most popular benchmark your own market strategy.  in each state and each county? This spreadsheet report covers the twenty most- frequently spoken foreign languages and Foreign Investment in U.S. Real Estate (2007) provides the percentage of state population Whether planning your own business strategy or speaking each one.  laying the groundwork for a trade mission, this research report offers valuable insight into the extent of foreign investment in commercial and Foreign-Speaking Residents in the United residential U.S. real estate. The report describes States by State and County where the majority of foreign investors originate This spreadsheet report breaks down the from, what they purchase, and why they invest. percentage of the population speaking a Compare the investment potential of your local language other than English. It is broken down market national trends and help investors make by those speaking only English and those the right decisions.  speaking a foreign language, instead of or in addition to English. State-by-State International Business Activity Reports Profile of International Home Buying Activity These downloadable reports profile international in Florida (2007) business activity by state. Data includes NAR partnered with the Florida Association of ® population demographics, year of arrival, REALTORS on this report which looks at home household languages, homeownership rates, purchases in Florida by international clients. immigration and naturalization trends by country, Florida‟s coastlines and year-round climate foreign visitors and workers, exports by product make it a major target for home buyers from type, and exports by trading-partner country.  Europe and other international clients.  Foreign-Born Residents by State Americans Buying Homes Abroad (2007) Refer to this state-by-state listing of foreign-born For many, owning a home abroad is as much as residents for a breakdown of those arriving in part of the American dream as owning a home in the last ten years.  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.  4 Access the benefits in this guide at
  • Your Global Real Estate Business Partner Road Map to Information about the Foreign Country Profiles Born (2006) Profiles on more than fifty countries provide Putting research information together in order to succinct information on real estate business, market to international clients can be market conditions, political environment, land challenging and sometimes the data can be rights and usage, foreign ownership regulations, confusing. To help you serve as a resource for and cultural norms. It‟s what you need to know data, trends, and other information on just when you need to know it. For the international real estate clients, NAR Research practitioner doing business in another country offers this guide to data and analysis.  this information is invaluable. For local market business, understanding a foreign client‟s business and cultural background leads to a Globalization and Real Estate Presentation successful transaction. (2007)  www.Realtor.org/internationalselect Dr. Lawrence Yun, NAR's Chief Economist, Country Profiles authored this authoritative PowerPoint presentation you can use. It provides an overview of world economic and real estate Global Real Estate Project markets with a focus on foreign investment in The University of Denver's Burns School of Real U.S. real estate.  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 5 www.Realtor.org/international
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 Field Guide to the Global Marketplace All CIPS Network members receive Global This one-stop online resource brings a diverse Perspectives in Real Estate, the Network‟s range of information resources together on one quarterly magazine. It contains global statistics, Web page. You'll find links to articles, books, in-depth analysis on international real estate Web sites, statistics, networking opportunities, markets, news and data on global, economic education courses, and more. and political trends plus highlights from  www.Realtor.org/LibraryField Guides international education and networking events. International Real Estate Articles from past issues can be viewed in the online archive. Subscription available for non- CIPS Network members.  Virtual Library This digital library, created especially for ® REALTORS includes a special section for International e-Report international real estate. Titles include Looking for international real estate news items downloadable audio books for total-immersion for your association or firm newsletter? NAR language learning. Check out Adobe and publishes a monthly electronic newsletter, the Mobipocket eBooks for use on a PC or handheld International Real Estate Report: Global device, or listen on-the-go with digital audio Resources for Local Markets. All of the books. The downloadable media collections also information provided may be used in local include OverDrive MP3 Audiobooks which can ® REALTOR association newsletters, Web sites, be transferred to a wide range of devices, ® or members‟ personal marketing materials. including the iPod , iPhone™, and iPod Touch. News items include a link to the source  http://ebooks.Realtor.org information for the complete article.  Winning Strategies and Success Case Weekly News Headlines Studies Receive international real estate news and Are you wondering if involvement in international market trends, compiled weekly by NAR‟s real estate is right for you? The real estate information specialists and categorized by professionals who share their success stories in region, from newspapers and magazines these collections of articles and case studies worldwide. This convenient weekly e-mail keeps provide valuable tips and ideas for building an you current on developing news and issues in international business and transferring learning Europe, Asia, Pacific Rim, Americas, Caribbean, from the classroom to the real estate office.  Africa, and the Middle East. Links provide access to full text of articles.  The Global Neighborhood Report An expert think-tank assembled by NAR developed this overview of trends, market  Go to www.Realtor.org/international and select International News forces, and future expectations in world real estate business. Use this document for insight  Go to the noted Web site on the dynamics of today‟s international real estate market and respond to opportunities.  6
  • Your International Real Estate Business Partner 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 Expand Your Market (CIPS) Designation Courses ® REALTORS across the nation are increasing The CIPS designation course curriculum is the their businesses by expanding their market educational foundation of the CIPS Network. It outreach to include immigrants and culturally- distinguishes designees as individuals who have diverse buyers and sellers. This fundamentals both completed an intensive program of study course helps real estate professionals learn how and demonstrated the ability to manage cultural differences impact business transactions international real estate transactions. and provides ideas for taking advantage of Requirements include completion of a increasing business opportunities. The turn-key prerequisite plus four required courses on program can be offered by any experienced specific regions and finance plus documented international real estate practitioner at a local ® international real estate experience. Most REALTOR association, company sales courses are available online at REALTOR ® meeting, or state association convention.  University.  Doing Business in Mexico International Real Estate for Local Markets If your clientele includes second-home buyers, This course opens students‟ eyes to retirees looking for a low cost of living, or international opportunities in their local markets. investors, you should consider the possibility ® Completion of it qualifies U.S. REALTORS for that a profitable portion of your market is CIPS Network membership and starts the “thinking Mexico.” Real estate professionals who student on the path to earning the designation. recognize and prepare for this trend have an Offered online and in classrooms.  opportunity to be in the vanguard of a market poised for tremendous growth. Offered online and in classrooms.  Transnational Referral Certification The International Consortium of Real Estate Associations (ICREA) offers this certification Doing Business in the United States course which prepares real estate professionals This course familiarizes real estate professionals to make and receive compensated referrals from outside of the United States with the using the system developed by ICREA. Students structure, operation, and legal and regulatory learn how to make and receive international environment of the U.S. real estate market. It referrals and increase income by referrals into prepares them to work effectively with U.S. real their business plans. Offered in classrooms. estate professionals, on a referral basis, to Online in English, French, Portuguese, Spanish, provide quality service and align clients‟ and Italian. expectations with U.S. business practices and  www.Realtor.org/internationalselect market conditions.  “Transnational Referral Certification 7
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations Risk Reduction: International Business Forums and Education Sessions at NAR Factors Affecting Your Local Market National Meetings This turn-key course is designed for use as in- Events at NAR‟s national meetings provide ® house training for brokers or REALTOR information and education for international associations. Students learn about legal issues practitioners plus valuable networking. Programs involved when working with foreign buyers and focus on international business development sellers such as the Patriot Act, interstate opportunities and networking events to bring commerce regulations, reporting requirements, practitioners together. and other risk reduction topics. Brokers whose  www.Realtor.org/internationalAbout agents work with international clients need this CIPSMeetings & Events knowledge too. Offered online and in classrooms.  Licensing a CIPS Course ® NAR licenses CIPS courses to REALTOR Presentations and Speeches associations, firms, franchises, proprietary Need a presentation for a sales meeting or schools, mortgage companies, and real estate association program? Tap into a collection trainers. Licensed sponsors generate net presentations and speeches made by NAR revenue from the program while offering a Leadership and representatives of NAR's valuable educational opportunity. international program. Most presentations can  www.Realtor.org/internationalselect About be customized and used by those speaking CIPSCIPS CoursesLicensing the CIPS about NAR and the CIPS Network. Courses  www.Realtor.org/internationalselect About CIPSBusiness DevelopmentSpeeches and ® Presentations REALTOR University Online ® REALTOR University is NAR‟s Internet-based online education portal. Real estate Speakers Cadre professionals can take courses online for Looking for a speaker for your next event? The continuing education credit, professional International Speaker Cadre has a searchable development, and designation certification. database of qualified speakers. Search by International real estate course offerings include name, topic, geographical location, or search the CIPS courses, risk reduction, referrals, and entire database for the right presenter. other topics. New courses are added frequently.  www.Realtor.org/internationalselect About  www.learninglibrary.com/realtoruniversity CIPSBusiness DevelopmentTools for International PractitionersInternational Speakers Cadre  Go to www.Realtor.org/international and select About CIPSCIPS Education Prepackaged Sales Meetings Are business opportunities being lost because  Go to the noted Web site 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/internationalselect About CIPSBusiness DevelopmentTools for International PractitionersPrepackaged Sales Meetings 8
  • Your International Real Estate Business Partner 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 Transnational Referral Certification Designation The Transnational Referral Certification course CIPS designees have prepares real estate professionals to make and demonstrated expertise in receive compensated referrals using the ICREA international real estate practice Transnational by completing education and Referral experiential requirements. The System and CIPS designation focuses on integrate educating real estate international professionals about transaction principles of referrals into their business plans. The course international real estate, including specifics on covers finding a referral partner, agreeing on real estate markets, investment trends, compensation, meeting customer service marketing strategies, currency issues, and standards, participating in the compensation financing in Europe, the Americas, Africa, Middle dispute arbitration process, and using ICREA East, Asia, and the Pacific Rim. Topics covered business tools. in the CIPS classes also include cultural  www.Realtor.org/international diversity. Savvy real estate professionals use Transnational Referral Certification 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  Go to the noted Web site ® 1 REALTORS in general.  www.Realtor.org/internationalAbout CIPS 1 (Source: NAR Marketing Research, “2008 Certified International Property Specialist Survey”) 9
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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. 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 www.WorldProperties.Com transaction is successfully completed through The property information Web site of the the system, the referring broker or agent International Consortium of Real Estate receives a referral fee. Associations (ICREA) advertises more than  www.GlobalNewHomeResorts. three million commercial and residential worldproperties.com 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.  Go to the noted Web site  www.WorldProperties.com 10
  • Your International Real Estate Business Partner 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. industry professionals and consumers. ICREA CIPS Network supports the Transnational Referral System and The CIPS Network has 2,500 members in 50 Certification as well as WorldProperties.com. countries. Network membership is open to  www.Realtor.org/international International association executives too. Network members Consortium of Real Estate Associations are listed in both a printed and searchable online directory.  President’s Liaisons and Regional Coordinators International Memberships President's Liaisons, who are assigned to Real estate professionals who reside outside of specific countries as representatives, help the United States, and are affiliated with one of maintain NAR's important relationships with NAR‟s Cooperating Associations, have three foreign real estate associations. Five Regional membership options for joining NAR directly: Coordinators are also appointed to serve North  ® International REALTOR Member and Central America and the Caribbean; South America; Asia and Pacific; Western Europe; and  International CIPS Network Member Central/Eastern Europe.   CIPS Designee A direct membership option is also available for real estate professionals in markets not covered Ambassador Associations by the Cooperating Association alliance. The Ambassador Association program is  www.Realtor.org/internationalAbout modeled after the international Sister-City CIPSAbout CIPS Membership programs by linking Cooperating Associations ® with a state or local REALTOR association. The Ambassador Association works closely with a Cooperating Associations President‟s Liaison and Regional Coordinator to Through an international network of 76 national expand global business opportunities. They also real estate associations in 57 countries, as well host Cooperating Association delegates at NAR as the NAR Ambassador Associations and meetings and during official visits to the United President's Liaisons assigned to each country, NAR maintains formal relationships with States.  organized real estate associations around the world. View the current list of these groups Local International Councils including addresses, e-mail contacts, and Web ® State and local REALTOR associations sites. organize International Committees or Local  www.Realtor.org/internationalForeign Councils to bring together members interested in Cooperating Associations international real estate. Activities range from a simple brown-bag lunch to a foreign trade International Consortium of Real Estate mission, but they all have one thing in Associations (ICREA) common—helping members develop business opportunities in the growing international market. 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 11
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations International Night Out biography.  www.Realtor.org/international An event held at NAR‟s Midyear and Annual Personal Market Tools Conventions brings together globally-minded practitioners from the U.S. and abroad for an Online CIPS Network Directory evening of social networking, connecting with old friends, and making new ones. International The online CIPS Network membership directory Night Out at the Annual Convention attracts features the same information as Who’s Who in more than a thousand attendees for a gala International Real Estate, but is updated weekly. black-tie dinner and awards event where new  www.Realtor.org/internationalFind an CIPS designees and International program International Specialist award winners are recognized.  www.Realtor.org/Meetings & Expo Find a CIPS Online Search for a Certified International Property Embassy Visits Specialist designee who can help foreigners buy Held in conjunction with the NAR Midyear in the U.S., help Americans buy abroad, or serve Meeting in Washington, D.C., this program an immigrant niche in local markets. offers CIPS designees the opportunity to meet  www.Realtor.org/internationalFind an with the ambassador and commerce staff of International Specialist foreign embassies. Discussion focuses on points of interests between the U.S. and the embassy Find a TRC Online country. The visits promote NAR and CIPS ICREA-affiliated brokers and sales agents who designees as a professional resource for the have completed the TRC training on country‟s global real estate needs. Invitations transnational referrals can be located in this are sent annually to CIPS Designees. online searchable database. TRCs understand the concept of paid referrals and are prepared to Market-to-Market Program participate in a fee-sharing arrangement. Much of the global business done by  www.WorldProperties.comFind a ® REALTORS takes place in local markets with Professional immigrant buyers, foreign investors, and Americans buying abroad for investment, ® REALTORS Annual Conference and Expo retirement, or second homes. The new market- and International Networking Center to-market initiative builds on this trend by supporting business development opportunities With 2,000 real estate professionals from more ® in specific markets or countries. The program than 50 countries, the REALTORS Conference provides resources for individual agents and and Expo is a great opportunity to make new brokers, as well as state and local associations. contacts from all over the world and a truly An online guide provides a planning roadmap as international event. Located on the Expo‟s main well as a market-to-market toolbox of resources floor, the Network Center, INC for short, is the and contacts. place to connect, network, and promote specific inbound and out-bound investment markets. The  www.Realtor.org/internationalMarket to INC offers attendees an internationally-focused Market Program trade exhibition, country networking sessions for each of NAR‟s Cooperating Associations, and a Who's Who in International Real Estate real estate theatre for specific market and Directory Listing product presentations. The CIPS Network directory is the referral  www.Realtor.org/Meetings & Expo source for international real estate. It is mailed to all Network members and Cooperating International Second Home Pavilion Associations as well as World Trade Centers, NAR and SIMA, Europe's largest second home Chambers of Commerce, multinational and resort exposition of worldwide properties, corporations, relocation companies and others cosponsor the International Second Home key constituents. All CIPS Network members are ® Pavilion at the REALTORS Annual Conference listed in the printed directory. Directory entries and Expo. This show within the show features for CIPS designees include a photo and brief 12
  • Your International Real Estate Business Partner more than a hundred developers from the U.S. and worldwide. Marché Internationel des Professionnels d’Inmobilier (MIPIM)  www.Realtor.org/Meetings & Expo MIPIM is held annually in two locations— Cannes and Hong Kong. These property NAR Participation in International marketing shows focus on the commercial real Expositions estate industry in Europe and Asia but both include a growing U.S. and Latin American NAR‟s participation in leading international trade component. NAR sponsors the USA pavilion at ® shows facilitates networking for REALTOR MIPIM Asia. NAR members receive a discount attendees. Its presence as a major exhibitor and on registration and may use the NAR booth as a ® sponsor raises awareness of the REALTOR meeting point, message center, and information brand and also provides a home base for NAR distribution channel. NAR members and their attendees. For a list of major trade shows see guests are invited to participate in an in-booth page 19 of this guide. reception.  www.Realtor.org/internationalUpcoming  www.Realtor.org/internationalUpcoming Events Events or go to www.mipim.com Salón Inmobiliario de Madrid (SIMA) More International Events SIMA is the world‟s largest international second NAR International publishes an up-to-date list of homes exposition, with more than 150,000 expositions, global property marketing events, visitors and 750 exhibitors. Its visitors include international business meetings and events with 15,000+ real estate professionals, representing ® links (when available) for more information and 40 countries. REALTOR attendees receive registration. Events that NAR participates in or exclusive access to the International Business supports are noted. Although NAR does not Center (IBC) which offers computers, meeting specifically endorse all events listed at this site, rooms, and a lounge area. Country networking it makes this information available as a service hours, social events, and sponsored receptions to members who are seeking additional global at the IBC connect real estate professionals venues for business networking and property internationally. The annual event, held in May in marketing. Madrid, includes a professional program with speakers from around the globe and  www.Realtor.org/internationalUpcoming simultaneous translation. Events  www.Realtor.org/internationalUpcoming Events or go to www.simaexpo.com  Go to www.Realtor.org/international and select About CIPSAbout CIPS Expo Real October in Munich is the time and place for Expo Real, the International Commercial Property  Go to the noted Web site 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/internationalUpcoming Events or go to www.exporeal.net 13
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 CIPS Network Mailing List Rental As a benefit of membership, professionally The CIPS Network membership mailing list is designed personal marketing advertisements available for one-time use direct mail. Self- are available to CIPS designees for use in local adhesive mailing labels can be provided for the publications or personal newsletters—camera- full Network list or U.S. residents only. NAR ready or downloadable PDF files. Please note reserves the right to approve contents of that use of these advertisements is available mailing.  only to CIPS designees.  www.Realtor.org/internationalPersonal Marketing Tools Sponsorships Build market awareness and prestige through a Logo Downloads sponsorship at the NAR Conference & Expo. ® The basic sponsorship package includes a Logos for CIPS, and the REALTOR “R” can be display area, recognition in the printed program downloaded at www.Realtor.org/international. distributed to all 20,000+ registrants, a web link The TRC logo can be found at from the Realtor.org Convention and www.WorldProperties.com. Use these logos on International Web pages, and more. print pieces, business cards, stationery, Web Sponsorships packages are available at three sites, and promotional items. Please note that levels, from basic to premium, and NAR‟s only those who have earned the CIPS International Operations staff can help you designation or TRC certification may use those identify the sponsorship opportunity that best fits logos.  www.Realtor.org/internationalPersonal your budget and promotional goals.  Marketing Tools CIPS Network Directory Advertising CIPS Network Members may purchase  Go to www.Realtor.org/international and select Advertise with Us expanded listings in Who’s Who in International Real Estate, the CIPS Network Directory. Full,  Go to the noted Web site 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.  14
  • Your International Real Estate Business Partner 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. International Real Property Foundation China—Education and Membership Originally founded in 1992 to support real estate Initiatives markets in democratizing former Soviet Bloc China is the world‟s most populous nation with a countries in Eastern and Central Europe, the foreign exchange reserve over $1 trillion, and IRPF's objectives have broadened to include $63 billion in foreign direct investment. Through real estate association development around the alliances with government and private training world. The Foundation supports formation of centers, NAR is introducing U.S.-style real professional real estate associations. IRPF estate sales education. NAR membership helps members and professional staff develop options are also being explored. This initiative leadership and management skills as well as promises substantial long-term business formulate strategic business plans to further ® development opportunities for REALTORS . organizational and market development.  www.Realtor.org/internationalCountry  www.IRPF.org ProfilesAsia-PacificChina International Housing Coalition India—Association Development and NAR is a founding member of the International Industry Best Practices Housing Coalition which is dedicated to the goal In 2007 NAR, with support from the International of „Housing for All.” The coalition advocates for Real Property Foundation, facilitated the the basic principles of private property rights, formation of a new, truly national association— secure tenure, effective title systems, and the National Association of Realtors-India. The efficient and equitable housing finance systems. alliance with NAR-India opens the door for These principles are essential elements to introduction of U.S.-style industry best practices furthering economic growth and development as in the second most populous nation in the world well as civic stability and democratic values. The and a rapidly expanding real estate market. Coalition is a thought leader in the United  www.narindia.com Nations World Urban Forum which addresses one of the most pressing issues facing the world today—rapid urbanization and its impact on Mexico—AMPI Joint Venture with NAR communities, cities, economies and policies. In 2006 AMPI and NAR formed a joint  www.intlhc.org membership venture. All 1,500 members of the Asociacion Mexicana de Profesionales Inmobiliarios (AMPI), Mexico‟s national association for real estate professionals, are ®  Go to the noted Web site 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 15
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 A Little Planning Goes a Long Way When selecting where to invest trade-show Strategize how you will accomplish your specific attendance resources, the first question is what objectives based on the show advance is your business focus? If concentrating in a information. Many exposition organizers publish niche market is your aim, shows with a very an advance list of exhibitors—in a printed piece specific or local-market focus may be the best or on a Web site. Read over this advance listing choice. If expanding your business reach is the and prioritize exhibits into “must-see” and “like- goal, the large international expositions are likely to-see” categories. The exhibitors that appear to the place you want to be. be of most assistance in meeting your business goals will be your “must-see” list. If the show Start by setting specific objectives for trade organizer provides a pre-expo booth map, make show attendance. A plan to hand out business notes on the map of the location of must-see cards and check out new products is not much exhibits or use a highlighter to mark first- and of a plan at all. It can leave you wandering up second-priority exhibits. Consider contacting and down the aisle with a dazed look, grabbing sales representatives of must-see vendors up brochures and loading up on promotional before the show to set up appointments; plan items—the freebies—to take back home. If you the action you would like to see happen so you know what your objectives are in attending trade will be more likely to work toward it. shows, it will be easier to select the shows to attend. On the other hand, if your goals are Don‟t discard those “stop by our booth” preshow vague, it may be a sign that you need to take announcements received from exhibitors; take a more time to consider why you are attending a minute to scan the announcement and note particular show or that you need to learn more those that look like a good fit with your about it. attendance objectives. Professional show organizers compile Your Personal Script information on both exhibitors and attendees and this data should be the “first-sort” when Prepare a brief (1 minute) speech that quickly choosing which shows to attend. Talk to others communicates your goals to an exhibitor. Your who have attended the show and ask about their personal script should answer the questions: experiences; ask if they attended the show for  What do you (your company) do? specific reasons and if their objectives were met.  Why are you at the show/convention?  What are you looking for? Get the most for your trade-show investment by selecting well-established, professionally- When you are prepared with responses to these managed expositions. If you choose to attend a questions, which will be asked repeatedly in new exposition, realize that the first year of an various forms, you can pay closer attention to exposition is a learning experience for the the exhibit and also modify your responses to organizer and the exhibitors. meet the situation. 16
  • Extra: Trade Shows During the Show opportunity to learn first-hand about new When you arrive at the show, check the on-site products and business propositions as well as booth map against your preshow plan and verify check out the competition. booth locations. Booth numbers and locations can change at the last minute and you do not Attending an exposition, particularly the mega want to waste time hunting for the exhibits on shows with multiple exhibit halls, is very tiring. your must-see list. Of course, you need to schedule some down time but time spent in your hotel room during Visit must-see exhibits first. Some veteran show- expo hours is wasted. Fortunately, most shows goers advise walking the entire show floor first to provide lounge and refreshment areas where get an overview of locations and booths of attendees can relax for a few minutes. Building interest. This approach can work at small in a break and snack every couple of hours can expositions, but at large shows with multiple help you regroup as well as maintain focus and halls, you can tire yourself out just walking the stamina. aisles before ever getting down to business. Attention Please When you approach a booth, look for everything During an exposition there are a myriad of things that provides insight about the company from that compete for your attention. Exhibitors who the professionalism and condition of the display invest a lot of time and money have their own to the attitudes of the booth attendants. Does it objectives and will try to control your time and seem like the company is there because they attention. Just remember that your own feel obligated? Do the booth representatives objectives take priority. If you are prepared with seem genuinely interested in interacting with talking points before approaching a booth you show attendees? Look at what the exhibitor is will be able to ask specific questions. If the demonstrating and offering as raffle prizes and answers to your questions are not the ones you giveaways as this will tell you who the exhibitor need or want, move on. The alternative is to sees as the primary customer and who they allow the booth representatives to control the want to appeal to. You can also gain interesting interaction, pepper you with questions, and steer information and insight by asking exhibitors the the conversation. However, once your own question they most often pose to attendees— objectives are met, allowing booth staff to pitch why is your company exhibiting? It may seem their products is a good way to learn about new obvious on the surface, but asking why a things. company is at a show can turn up some interesting information. Debriefing Major exhibitors with multi-booth space displays If you are attending the show with others from tend to dominate the prime spots in the show your company or association, plan to meet daily near the entrance and in central locations. But to maximize show coverage, avoid duplication, the fringe of the show floor may be where the and learn about new products that you may start-up companies and new ideas show up first. have overlooked in preshow planning. Even if When you do find one of these hidden gems, you are on your own, take time at the end of the consider scheduling an appointment with the day to debrief yourself and jot down some notes exhibitor, like a coffee break or lunch, to learn about attending the show. If will help you more. evaluate if you are achieving your objectives; you can refer back to these notes when deciding Don‟t forget the educational sessions that if it is worthwhile to attend a future show. happen around the exhibit. Large exhibitors or the show organizer sometimes set up a theatre setting for product presentations. For example, After the Show at the International Networking Center (INC) at After a show, exhibitors may have several NAR‟s Annual Conference and Expo sales hundred contacts for follow-up. This post show representatives present information on new follow-up should be top priority, but the truth is developments and destinations; it‟s an excellent some companies are better at it than others. If 17
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations you really want to build your network quickly and can solve the problem. A travel-size stain- receive priority treatment from vendors, initiate remover spray or stick can come in handy too. the follow-up yourself by sending a thank you note or e-mail or making a phone call. Exhibitors Healthy Attending seldom hear from show attendees, so if you follow-up it will make a big impression. As trade shows bring together people from far- flung places, they can also bring together some exotic germs to which your immune system has Mission Accomplished? little defense. If you are concerned about picking Review your preshow objectives and notes from up germs from hand shaking, shared restrooms, on-site daily debriefings. Did you accomplish public transportation, common eating areas, and your objectives? Did the attendance experience the like, plan ahead by assembling a small pack meet your expectations? Was attendance worth containing hand sanitizer, a pump-spray bottle the investment of time and money? If you attend with disinfectant, and pre-moistened towelettes. in the future, what will you do differently or the same? Ask other attendees about their Business Card Etiquette impressions and future participation plans— others‟ opinions can help you make a decision Just as your attire and demeanor reflect your about future attendance by refuting or way of doing business, so does the manner in reinforcing your perceptions. Keep in mind that which you give and receive business cards. If you give out your cards like you are dealing a that a developing an international real estate hand at a poker game, you are likely sending the practice requires a long-term commitment and wrong message about your business conduct, investment; it may take some time to full realize intentions, and prospects. It is polite to accept the benefit of attending an event or trade show. 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 Smart Participation a comment on the card such as, “Oh, I see your Is What You See, What You Get? office is located in …” Put the card away in your jacket or purse, never in a hip or back pocket. How you present yourself says a lot about you When exchanging business cards, you will make and your company—and not always the a positive impression if you take time to chat for message you would like to convey. Your a minute and find out if you have anything in behavior demonstrates to observers what type common with the other person. of behavior is acceptable in your business; professional behavior and demeanor are best. Observe how other attendees and exhibitors are Not the Time for Complaints dressed; if they are dressed in business attire The trade show is not the time or place to make you should be too, if you want to present the complaints about a service or product. The right image. If business casual is acceptable people who can resolve a problem are most then the emphasis should be more on business likely not those staffing the booth and you will than casual; attending a trade show is work, not create an embarrassing situation for all involved. a vacation. 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 Travel Light, Travel Right out of earshot of other booth visitors. Invest in no-wrinkle business or business-casual clothing for travelers. Clothing designed specifically for travelers packs light, resists Is Photography Permitted? wrinkles and stains, and is often designed with If you plan to take photographs of the show or hidden pockets to discourage pickpockets. booths, find out first if it is permissible. Some Particularly now that airlines are cutting back on trade shows do not allow photography on the luggage allowances, packing light is more show floor as a way to prevent competitors from important than ever. If you leave something scooping each other. essential behind, a quick trip to a clothing store 18
  • Extra: Trade Shows Hello, My Name I….  AMPI Conference* A badge holder on a cord around the neck is the Mexico current fashion for name badges. This has the www.ampicongresonacional.com unfortunate effect of causing one to stare at  Barcelona Meeting Point another‟s midsection to read the name on the Barcelona badge. You can prevent this awkward situation www.bmpsa.com by pinning the badge in the right-lapel position or shortening the cord so that the badge is  Cityscape USA positioned higher on your chest. This allows New York someone who shakes hands with you to quickly www.cityscape-usa.com and discreetly note your name.  Cityscape China Shanghai Glitz and Glamour www.cityscapechina.com Understand what “hits your hot button” on the  Expo Real* show floor. Is it glitz and glamour, a showy Germany display, celebrities, entertainment, refreshments, www.exporeal.net raffle prizes? These hot-button items are there  FIABCI World Congress* because exhibitors know that they attract and www.fiabci.com hold attention, but they also use up your time and make you more vulnerable to an unwanted  Mercado Inmobiliario Turistico (MINT)* sales pitch. Mexico www.travex.com.mx Eat Right Power up with a hearty breakfast and energy  MIPIM Europe* snack breaks throughout the day. However, Cannes professional booth staff do not eat or drink when www.mipim.com on duty and it‟s a good idea to follow this  MIPIM Asia* example as an attendee too. Strolling through Hong Kong the exhibit hall aisles with a drink or coffee cup www.mipimasia.com in hand is not a good idea. Aside from the hazard of spillage—on yourself, others, and  Panama Spectacular* exhibits—you should keep your right hand free Panama City for shaking hands. www.us-panama.org  RECon Global Retail Real Estate Stay at the Headquarters Hotel Convention Germany Attending the show is not the time to economize www.icsc.org by booking an inexpensive hotel some distance ® from the expo locale. You will waste time  REALTORS Annual Conference and Expo* traveling back and forth between your hotel and USA the exhibit hall. If you want to set up a meeting www.Realtor.org/meetings-and-expo at a hotel, the headquarters hotel is usually the  SECOVI Master Immobiliaria and Trade most convenient location. Plus, large expos Show provide shuttle service to the headquarters and São Paulo officially designated hotels—a time and money www.secovi.com saver.  SIMA* Madrid International Trade Shows and Events www.simaexpo.com  Americas Real Estate Expo* Central American * NAR Participation www.americasrealestateexpo.com 19
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 If there is sufficient interest and support, the next Determining the organization‟s objectives is the step is a formal proposal and an authorizing first step for any successful trade mission: what motion by the association‟s board of directors. do you want to accomplish? If this is a first trip to The presentation to the board should be a country, particularly if yours is an Ambassador rehearsed with a group of observers so that the Association, your objectives may be as basic as presenter is prepared to respond to common learning about the country‟s real estate market questions and objections, including costs and and developing a networking business value to the association. An important cost factor relationship between members. More advanced to address is expenditure of staff time. objectives might be showcasing a specific development opportunity to foreign investors or representing investors seeking property Focus on Cooperating Associations ® opportunities abroad. The trade mission REALTOR association trade missions should objectives will be the foundation for the rest of focus on developing relationships with those the planning and decision making regarding the organizations that are NAR Cooperating trip. Associations. These organizations have already established a bilateral agreement to cooperate and have established connections with NAR. All About You? All About Us? The bilateral agreement, along with Experienced trade mission planners attest that appointments of ambassadors and liaisons, the most successful mission are those that give provide the initial groundwork for deepening equal focus to the both the traveling and host relationships between markets and real estate group‟s objectives. U.S. groups are more likely professionals. to be interested in building referral networks, while non-U.S. groups are more interested in Formalizing alliances between associations, facilitating foreign investment. However, outside those appointments made by NAR, is common ground, such as identification of local not encouraged. Cooperating Associations have partners, can be found, if both the visiting and indicated that such agreements add host groups understand each other‟s objectives administrative burdens and do little to support from the start. the business development opportunities between members. Build Association Support Leadership support is essential before planning Making Initial Contact with the Host a trip. Begin by informally talking to members Before finalizing a destination or travel dates, about the idea, particularly those who might like contact the host association to discuss the to participate. Don‟t assume that members organization‟s interest in hosting a group, automatically understand the value of a trade whether the timing is good for the host, mission. It may be necessary to educate them resources or support available, and the on the potential benefits and communicate the appropriate size and makeup of the group. Ask: value of the endeavor. Sounding out association leadership and influencers can generate  Are you interested in developing a interest, gauge the level of support, secure relationship between our markets? support before proceeding with a formal  Does your area get buyers from this country proposal or authorizing committee motions. on a recurring basis? 20
  • Extra: Trade Missions  What are the licensing laws for real estate transportation, and touring. You may want the practitioners? travel planners to accompany the group to  What are the common business practices? manage travel and hotel logistics. Ask around  How is property transferred? for recommendation on travel planners and seek  What is the commission situation? advice from the host organization on local  Are referrals a common practice? resources. Begin early to assure the best choice of dates and rates. Traveling off-season can keep costs down. Role of NAR Advise other key constituents of plans for the Piggyback on Other’s Planning trade mission including the national President‟s Liaison and Ambassador Association; both of Experienced planners advise that a smart way to these contacts can help facilitate contacts and avoid the hassle of trip planning is to hook up planning. The President‟s Liaison should be with other organizations who plan trade involved in the planning process and may be the missions, such as chambers of commerce, sister best person to initiate contact with the host cities, trade centers, or even corporations with a group. vested interest in international business development. Piggybacking on another organization‟s efforts relieves the association Who Should Participate? leadership, staff, and volunteers of the Group participants should have comprehensive responsibility for planning travel logistics as well market knowledge and ability to discuss a range as handling travel reservations and trip sign-ups. of property types. They should also have a Working with another organization can also baseline of understanding of international prevent the perception of the trade mission as a transactions. Travelers must be self-motivated to leadership perk. make their own appointments outside of the group schedule. Inviting participants from Planning Trade Mission Activities outside your market may present a conflict and is an issue you may need to address. Although the host organization is likely to play a Conversely, broadening the group will create a major role in identifying activities and contacts, more interesting mix for the host organization. there are additional resources you can explore, including the Sister Cities program, the U.S. Experience suggests that twenty to thirty is Embassy (most have a commercial attaché) in about right for a real estate group. The size of the country, World Trade Center (both locally your group may be determined by something as and abroad), international franchise basic as the number of seats on a bus. The organizations, private property marketing problem of more interest than available spots is companies, real estate research departments of a nice one to have, but you may wish to decide universities located in the destination country, in advance who will have priority in reserving and local/regional economic development spaces; for example, CIPS designees, large groups. brokers, or local council members may be offered first priority for trip sign up. The inclusion Host associations should be free to initiate of spouses should be determined up front. contact with local government, chambers, and Determine a cut-off date for payment and other groups on behalf of the traveling cancellation without payment penalty. 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 Planning Travel and Logistics should be discussed between the two groups to Don‟t assume that the host organization is avoid embarrassment or disappointment. prepared or able to handle trip logistics. Plan to Maintain regular communication with the host work with professional travel planners, one organization to ensure the both groups are in locally and another in the destination country. agreement on key events, scheduling, costs, Your local travel planner will likely have the best and other aspects of the trip. Written knowledge of airfare routes and deals; a travel confirmation is best to avoid possible planner in the target destination will have the misunderstandings. best local connections and knowledge of hotels, 21
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations Planning Trade Mission Activities Role of NAR Trade mission itineraries are a combination of Key areas of responsibility for NAR are to: business, social, and education activities.  Offer a clearinghouse of resources and Business development opportunities for contacts members should be the guiding force for  Provide coaching planning trade mission activities. If the host  Identify opportunities and bring parties association is assisting in planning, provide a together general outline of the preferred schedule and be  Promote trade mission opportunities and prepared to defer to the hosts on some matters. recognize successful endeavors ® REALTOR associations also usually include organizational business activities in the mix. Typical activities are: Promoting the Trade Mission Build excitement for the event through e-mail Business briefings, information about the country, useful  One-on-one meetings foreign language phrases, weather updates,  Property and technical tours host organization information, business protocol,  Presentations Web sites, and the like. Generate excitement in  Seminars for buyers ways related to the destination such as  Company-to-company and one-to-one information packets, a program on the meetings destination country‟s history and culture, and  Participation in a trade show or conference pre-trip briefings. Social During the Trip  Welcome event Ensuring participants stay actively involved with  Program on the host country the trade mission is a factor to consider in  Daily briefing recruiting participants. While there is no  Joint networking events guarantee this won‟t happen, setting  Experiencing local foods and customs expectations as part of the recruitment process  Embassy Receptions and stressing involvement during the trip can  Sightseeing minimize participants going off on their own. The  Entertainment unique to the host country traveling group should meet each morning to  Language orientation session review the day‟s schedule, concerns, and  Group meals opportunities. Education Documenting each day‟s activities in detail, with  National and regional conference many photos, provides a nice record of the  Panel discussions event. It also helps in evaluating the overall  Skill transfer sessions success of the endeavor as well as marketing  Presentations on business models future trade missions. Collect literature on the  Information exchanges country‟s market, business practices, industry  Q&A sessions resources and the like. Consider documenting  Literature packets the trip on your Web site. A trade mission blog  Embassy briefings can be a fun and collaborative way to document the group‟s activities, even while the trip is in Organizational Business Activities progress; just be sure that blog posts emphasize  Establish and maintain relationships business more than social activity.  Evaluate mutual needs, interests and expectations The group may wish to provide gifts to  Market or deliver education program individuals who play a key role in hosting the  Share business models and best practices trade mission. Generally, gifts should be  Plan program development representative of your homeland and may be small gestures. Inquire with the host association  Clarify roles and primary contacts in advance if any gifts will be presented to the visiting delegation so that you will be prepared to respond in kind. 22
  • Extra: Trade Missions Be on the lookout for concrete examples of on the card such as, “Oh, I see your office is business-development value happening for located in …” Put the card away in your jacket or members. Real estate trade missions tend to purse, never in a hip or back pocket. Take time plant the seeds of future business and it is to chat for a minute and find out if you have easier to follow up later if you have a record of anything in common. If you give out your cards prospective business in development. like you are dealing a hand at a poker game, you may be sending the wrong message about Be flexible to changes on-site—no trip comes off your business conduct and prospects. exactly as planned. During the marketing stages, members will look for a full schedule of Carry cards with you to a social event, but the activity to maximize value for time and cost. In exchange of cards should be private so as not to implementing the plans, some unstructured time turn a party into a sales pitch. It is best not to will allow travelers to pursue personal interests initiate an exchange of cards during meal and may keep them from skipping group service; wait until the meal is concluded. activities. Take the time to prepare and rehearse a brief (1-minute) speech that quickly communicates After the Trade Mission your goals for participating in the trade mission. Comparing the original objectives with trip Your personal script should answer the experiences is one way to evaluate the questions: effectiveness of the endeavor. Another is  What do you (your company) do? surveying participants immediately after the trade mission and again about six to twelve  Why are you participating in the trade weeks later. Offer the opportunity for members mission? to provide testimonials. Ask travelers if:  What do you hope to accomplish?  they think that business contacts will result When you know in advance how you will in actual business respond to these questions, which will be asked  personal business goals were met repeatedly in various forms, you can communicate succinctly, pay closer attention to  the local market will benefit the other person, and modify your responses to  the experience will help in local marketing meet the situation.  it was it worth the cost, enjoyable, and informative If you are working with an interpreter, speak in short sentences or phrases and pause for the The survey is also an opportunity to remind interpreter to translate. When speaking, look at travelers to follow up with contacts to enhance the person you wish to address, not the the chance of future business transactions. interpreter. Try to avoid slang or jargon that the interpreter cannot translate. Interpreters are Ask for feedback from the host association often not familiar with industry and technical regarding the event and whether it was of value terms; it may help to prepare an list of such to their members. They may be a source of terms. Also supply the interpreter with a list of success stories you haven‟t yet identified. You names and titles of contacts you will be meeting can use post-trade mission evaluations as an and the purpose of the meeting. If possible, opportunity to market the association‟s related spend a few minutes conversing informally with international programs and services, such as the interpreter before meetings with business CIPS courses and local council membership. contacts; this provides an opportunity for the interpreter to become familiar with your speech Provide NAR with a report of the trip for cadence and pace. promotional and clearinghouse purposes. More Information Participate Smart For a comprehensive guide to trade mission At networking events, accept any card that is planning and protocol plus extensive resource offered (you can discard it later if it is not Internet directory, go to needed) and offer your card in return. Thank the www.Realtor.org/internationalAbout CIPS giver, examine the card briefly, make a comment Association Resources. 23
  • Global your business has no borders. 430 N. Michigan Avenue Chicago, IL 60611 Phone: +1.312.329.8272 www.realtor.org
  • ® NATIONAL ASSOCIATION OF REALTORS International Operations 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 Guatemala Philippines Australia I Honduras Poland I Austria Hungary Portugal I Bahamas India I Romania Belgium Indonesia Russia I Belize Ireland I Singapore Brazil I Israel Slovak Republic Bulgaria Italy I South Africa I Canada I Jamaica Spain I Chile Japan Sweden I China Korea Thailand I Colombia Latvia I Turkey Costa Rica I Malaysia Ukraine I Czech Republic I Mexico I United Kingdom I Denmark I Netherlands I Uruguay El Salvador I New Zealand I Venezuela I Finland I Nicaragua Vietnam France I Norway I Germany I Panama I Greece I Paraguay Peru I = Member, International Consortium of Real Estate Associations (ICREA) as of August 2008. 24