ipro presentation june 9
TRANSCRIPT
ii
iPROiPROGood Morning BonjourGood Morning Bonjour
Guten Morgen Buon GiornoGuten Morgen Buon Giorno
Buenos Dias Bom DiaBuenos Dias Bom Dia
Aoopoe Ytpo God MorgonAoopoe Ytpo God Morgon
Today’s PresentationToday’s Presentation
Overview of international real estateOverview of international real estate How to get startedHow to get started Introduce the International CouncilIntroduce the International Council Provide the first Educational EventProvide the first Educational Event
GLOBAL OPPORTUNITY GLOBAL OPPORTUNITY
TOTAL FOREIGN INVESTMENTS IN US $17.9T-2007TOTAL FOREIGN INVESTMENTS IN US $17.9T-2007 FOREIGN DIRECT INVESTMENTS REACHES $2.42T-07FOREIGN DIRECT INVESTMENTS REACHES $2.42T-07 OVER 4 MILLIONS AMERICANS LIVE OVERSEASOVER 4 MILLIONS AMERICANS LIVE OVERSEAS FL LEADS US IN ATTRACTING FOREIGN BUYERS-26%FL LEADS US IN ATTRACTING FOREIGN BUYERS-26% TOP COUNTRIES OF FOREIGN HOME BUYERS FL-08 TOP COUNTRIES OF FOREIGN HOME BUYERS FL-08
>>CANADA ----------------27%>>CANADA ----------------27%
>>UK-----------------------21%>>UK-----------------------21%
>>GERMANY----------------7%>>GERMANY----------------7%
>>VENEZUELA--------------5%>>VENEZUELA--------------5%
>>FRANCE------------------4% >>FRANCE------------------4%
SOURCE: NARSOURCE: NAR
Profile of International Home Profile of International Home Buying in FloridaBuying in Florida
Median Price of home purchased $285,000Median Price of home purchased $285,000 All cash-No mortgage financing 60%All cash-No mortgage financing 60% Vacation home 55%Vacation home 55% Both vacation and rental 26%Both vacation and rental 26% Rental property for investment 12%Rental property for investment 12% Personal use/stay up to 2-6 months 65%Personal use/stay up to 2-6 months 65% Destinations of foreign home buyers:Destinations of foreign home buyers:
>>Miami-Ft. Lauderdale 21%>>Miami-Ft. Lauderdale 21%
>>Tampa-St.Pete-Sarasota area 17%>>Tampa-St.Pete-Sarasota area 17%
>>Naples-Fort Myers-Cape Coral area 12%>>Naples-Fort Myers-Cape Coral area 12%
International Buyers International Buyers Type of home in FloridaType of home in Florida
29% of home buyers were international 0829% of home buyers were international 08 Types of homes purchasedTypes of homes purchased
>> Single family 55%>> Single family 55%
>> Condo 36%>> Condo 36%
>> Townhouse 9%>> Townhouse 9% Location of HomesLocation of Homes
>> Resort area 33%>> Resort area 33%
>> Suburban area 33%>> Suburban area 33%
>> Central city/urban 25%>> Central city/urban 25%
>> Small town/rural 9%>> Small town/rural 9% Source: NAR/FARSource: NAR/FAR
Tampa-St. Petersburg Tampa-St. Petersburg International Home Buyers International Home Buyers
Western Europe 49%Western Europe 49%
>>United Kingdom 24%>>United Kingdom 24%
>>Ireland 5%>>Ireland 5% Canada 32%Canada 32% Latin America 10%Latin America 10% Rest of the world 10%Rest of the world 10% source: NAR/FARsource: NAR/FAR
International Consortium of Real Estate Assoc. International Consortium of Real Estate Assoc. ICREAICREA
Members include 30+ national RE assoc.Members include 30+ national RE assoc. From Asia, the Americas, Europe and AfricaFrom Asia, the Americas, Europe and Africa Nearly 2 million members- Brokers/Agents Nearly 2 million members- Brokers/Agents More than 3 million property listings More than 3 million property listings
worldwideworldwide WWW.Worldproperties. com. com Member countries represent $25 trillion Member countries represent $25 trillion
GDPGDP
Source: ICREASource: ICREA
Transnational Referral Certificate Transnational Referral Certificate TRC - What is it?TRC - What is it?
Worldproperties.com referral systemWorldproperties.com referral system Certification course online/classroomCertification course online/classroom Provides Standardized referral policy/ Provides Standardized referral policy/
procedures procedures Provides Legally binding agreements Provides Legally binding agreements Referral fee opportunities negotiatedReferral fee opportunities negotiated Dispute resolution/arbitration onlineDispute resolution/arbitration online
source: worldproperties.com source: worldproperties.com
Certified International Property Certified International Property Specialist - CIPSSpecialist - CIPS
Course is offered by NAR/CIPS NetworkCourse is offered by NAR/CIPS Network Consist of 5 courses on-line (Realtor U.)/classroomsConsist of 5 courses on-line (Realtor U.)/classrooms
1) Europe 1) Europe
2) Asia/Pacific 2) Asia/Pacific
3) The Americas 3) The Americas
4) Middle East/Africa 4) Middle East/Africa
5) Investment & Financial 5) Investment & Financial Focuses on the critical aspects of intl. transactionsFocuses on the critical aspects of intl. transactions
>Currency and Exchange issues >Currency and Exchange issues
>Cross-cultural relationships & awareness>Cross-cultural relationships & awareness
>Regional Real Estate market conditions/ownership >Regional Real Estate market conditions/ownership
>Investment performance, Tax issues and more>Investment performance, Tax issues and more
Recommend ProfessionalsRecommend Professionalswith international Experiencewith international Experience
Reduce risk/facilitate smoother transactionReduce risk/facilitate smoother transaction Your contact list should include:Your contact list should include:
>>Mortgage Lender>>Mortgage Lender
>>Law Firm>>Law Firm
>>Title Company>>Title Company
>>CPA firm>>CPA firm
>>Money Exchange Co.>>Money Exchange Co.
>>Translators>>Translators
Recap- How to Get Recap- How to Get StartedStarted
Think long-term commitment and strong relationshipThink long-term commitment and strong relationship Develop an action plan with timeline, strategies, Develop an action plan with timeline, strategies,
tactics, etctactics, etc Consider earning your certificate in CIPS and TRCConsider earning your certificate in CIPS and TRC Use Realtor.org/international and Realtor UniversityUse Realtor.org/international and Realtor University Florida Association of Realtors (FAR)Florida Association of Realtors (FAR)
>>Find Florida Properties translated- 29 languages>>Find Florida Properties translated- 29 languages
>>Sale/Purchase contract in German, Spanish>>Sale/Purchase contract in German, Spanish Visit other council’s websites – www.miamire.comVisit other council’s websites – www.miamire.com Join iPRO and participate in a working committee.Join iPRO and participate in a working committee.
International Councils International Councils
Globalization is creating new real estate Globalization is creating new real estate opportunitiesopportunities
This has attracted the attention of Real Estate Assoc This has attracted the attention of Real Estate Assoc and professionals worldwideand professionals worldwide
Florida leads the way with 16 IC’s- Visit Florida leads the way with 16 IC’s- Visit
We at PRO are proud to launch iPROWe at PRO are proud to launch iPRO
..
SS
Pinellas Realtor OrganizationPinellas Realtor OrganizationInternational Council (iPRO) International Council (iPRO)
MISSIONMISSION
The mission of the International Council The mission of the International Council (iPRO) is to further enhance the (iPRO) is to further enhance the professionalism of REALTORS serving professionalism of REALTORS serving foreign and U.S. customers engaged in foreign and U.S. customers engaged in international real estate transactions by international real estate transactions by providing education, international market providing education, international market information, and networking resourcesinformation, and networking resources. .
iPRO Goals for 2009iPRO Goals for 2009
Work in a committee forum to gather Work in a committee forum to gather relevant international resourcesrelevant international resources
Provide educational workshops and share Provide educational workshops and share international resources with PRO members.international resources with PRO members.
Coordinate Certification programs:Coordinate Certification programs: > > CIPS and TRC CIPS and TRC Liaison with other International CouncilsLiaison with other International Councils Attend international events Attend international events Create an Intl section in PRO websites.Create an Intl section in PRO websites.
Some Potential BenefitsSome Potential Benefits
International perspective International perspective Education and TrainingEducation and Training Research and ReportsResearch and Reports Networking OpportunitiesNetworking Opportunities International EventsInternational Events Business Development OpportunitiesBusiness Development Opportunities Earn Referral fees inbound/outboundEarn Referral fees inbound/outbound
International Council MembersInternational Council Members
Chair: Lou Vaccaro, TRCChair: Lou Vaccaro, TRC Vice Chair: Tammy TaylorVice Chair: Tammy Taylor Secretary: Marge CoffingSecretary: Marge Coffing
COMMITTEESCOMMITTEES
Website & Internet Website & Internet Education &TrainingEducation &TrainingInternational EventsInternational Events
CIPS/TRC CoordinationCIPS/TRC CoordinationCross-Cultural RelationshipsCross-Cultural Relationships
International Market TrendsInternational Market Trends Liaison with other International CouncilsLiaison with other International Councils
iPROiPRO
LOCAL EXPERTISELOCAL EXPERTISE
****
GLOBAL REACHGLOBAL REACH