Bringing the World to the South Bay Brian Summerfield, CIPS Manager, Business Development and Outreach NAR Global

“Are you ready to rock, South Bay?”

Global in U.S. Real Estate: By the Numbers A few key stats:  $71 billion: Annual average of total foreign purchases of U.S. residential property over the past three years  40.1 million: Total foreign-born population of the U.S.  63: Percent of foreign buyers who used cash to purchase a U.S. residence in the year ending March 2013  $354,193: Median price of U.S. home bought by a foreign consumer Source: NAR Research

Key research includes:  Profile of International Home Buying Activity  State-by-State International Business Reports  Local Market Assessment Case Studies  Most-searched cities on realtor.com/international NAR Resource #1: Research

NAR Resource #2: News & Information Where can you get up-to-date info on global real estate and business trends?  The Global View blog: theglobalview.blogs.realtor.org  realtor.org/global – our online hub for industry news, research, directories and more

NAR Resource #3: Education Certified International Property Specialist (CIPS)  Five classes, including two core courses  Can be taken in-person or online  Also requires earning points and completing an application

NAR Resource #3: Education Benefits of CIPS  Come away with an understanding of the challenges and issues encountered in global transactions  Receive a quarterly newsletter, Global Perspectives, that covers current trends in international real estate  Connect with more than 2,000 other CIPS designees from around the world

NAR Resource #4: realtor.com international  1 million international visitors per month  Currently has more than a million and a half international listings spread across 37 countries  Offers translation services for 11 languages  Easily converts currencies and units of measurement

NAR Resource #5: Partnerships  Cooperating Associations: More than 80 NAR partner organizations in nearly 60 countries  International REALTOR® Members: Approximately 5,000 in more than 50 countries  President’s Liaison and Ambassador Association programs

NAR Resource #6: Events Learn and connect at these sessions at NAR’s major events:  International Night Out (Conference & Expo only)  International Welcome Reception  Global Business Alliances Committee  State and Local Forum on Global Business  And more!

NAR Resource #7: Support NAR Global supports global programs at state and local REALTOR® organizations by:  Assisting with strategic direction and business planning  Sharing best practices  Promoting and participating in events  Providing advice on tactical initiatives (e.g., online communications, trade missions, etc.)

Global Opportunities in the South Bay Area

Global Opportunities in the South Bay Area Proximity to LA:  Adjacent to (and possibly includes) LAX  Approximately miles southwest of downtown LA  About miles south of Hollywood  Around miles west of Anaheim

Global Opportunities in the South Bay Area Port of Los Angeles:  Busiest in the U.S. by container volume and total value of goods  Nearly $300 billion in cargo in 2013  Top five importing countries: China/Hong Kong ($136 billion), Japan ($40 billion), South Korea ($16 billion), Taiwan ($12 billion), Vietnam ($11 billion)

Global Opportunities in the South Bay Area Oil Refining Name a major oil-producing corporation. Chances are, they’re refining petroleum in South Bay.

Global Opportunities in the South Bay Area Manufacturing:  Toyota and Honda’s U.S. headquarters (Torrance)  Mattel’s corporate headquarters (El Segundo)  Front office of the Los Angeles Lakers (El Segundo)

Global Opportunities in the South Bay Area Aerospace:  LAAFB: Space and Missile Systems Center  Lockheed Martin, Boeing, Northrop Grumman and Alcoa all have substantial manufacturing facilities in the South Bay

Global Opportunities in the South Bay Area Immigration and Foreign Culture:  A hotbed of Korean immigration: Tens of thousands of ethnic Korean residents and thousands of Korean businesses  Historically a home for Japanese Americans  Largest Samoan community in continental U.S.  90 languages spoken in the 13 school districts

4 Ways to Get Started in Global Do Your Homework:  Research immigration and international business trends in your area.  Talk to colleagues in your market to find out if they’re aware of any global real estate transactions that have happened recently (either their own or someone else’s).

4 Ways to Get Started in Global Seek Education:  Earn your Certified International Property Specialist (CIPS) designation, which can help you better understand the risks and opportunities in global business.  Take a foreign language, international business, or history and culture course at a local college/university or institute

4 Ways to Get Started in Global Start Networking:  Regularly attend global business council events. If you’re part of the global council, invite non-REALTORS® who are doing international business to attend and speak at events.  Attend global forums, committee meetings and networking/social events at NAR’s national conferences.

4 Ways to Get Started in Global Find Your Focus:  Pick a country (or no more than a few countries) or ethnic group based on both your own interests and local business activity.  Figure out the best way(s) to connect with those consumers through marketing and outreach.

Questions? Connect with the National Association of REALTORS® Like Follow Twitter.com/NARGlobal