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Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?

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Presentation on theme: "Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?"— Presentation transcript:

1 Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?

2 Raise your hand if…. Sell Commercial Real Estate Lease Commercial Real Estate Rent Residential Property

3 Raise your hand if…. Advise U.S. buyers on investment opportunities in Europe If you feel there is potential in advising U.S. buyers on European investment opportunities

4 Who are the most prevalent foreign buyers in your local market?

5 Illinois

6 Investment Buyers  Affordability- Weakened U.S. Dollar  Accessibility- ORD Major International Hub  Solid Rental Options  Supply Types of Foreign Buyers in Chicago?

7 Immigrants, 1 st Generation Americans, Clients with International Family Connections From Greektown to Chinatown, the Polish Triangle to the Mexican Communities in Pilsen, etc., etc., etc. CHICAGO IS A MELTING POT! CHICAGO

8 TOP U.S. STATES Hosting International Students 1.California 2.New York 3.Texas 4.Massachusetts 5. Illinois Data Provided by the Institute of International Education 2011 Fast Facts International Students

9 Institutions with the Highest Number of International Students 1. University of Illinois - Urbana-Champaign 2. Illinois Institute of Technology- Chicago 3. University of Chicago 4. Northwestern University- Evanston 5. University of Illinois - Chicago Institute of International Education 2011 Open Doors Fact Sheet- Illinois International Students

10 Executives Working Abroad

11 Questions about U.S. buyers investing in Europe

12 What European countries appeal to the US buyers you are advising?

13 Why are your U.S. buyers considering Europe ?

14 Why should an Illinois Real Estate professional be interested in Europe?

15 Your International Options Selling local real estate to local foreign- born communities Selling local real estate on line to foreign customers Going abroad to sell local real estate Going abroad to investigate investment opportunities

16 Why your local market is so important: Perhaps the likeliest source of business for the Illinois Realtor® Gauging the potential for doing business in your neighborhood

17 Developing a Clientele in your local market Identifying potential buyers in your area Contacting them and gaining their trust The CIPS course “Global Real Estate – Local Markets” may be for you!

18 Foreign Direct Investment in the U.S.A.

19 Where do European investors go to check out U.S. property for sale There is very little culture of “buyers’ brokers” for residential property in Europe Europeans “shop” for residential property on line www.realtor.com/international

20 Search, view and explore global properties

21 Anticipating the Expectations of European Clients Explaining how US real estate is bought & sold Explaining how US real estate is managed

22 Is it worthwhile for an Illinois Realtor® to go to Europe to look for buyers or to investigate investment opportunities for U.S. investors? The investment The risks The rewards

23 Your NAR Contacts for Europe International Realtor® Members CIPS designees European associations cooperating with the NAR Ambassador Associations, Global Councils NAR President’s Liaisons

24 Trade Shows in Europe Business-to-business trade shows Business-to-consumer trade shows

25 Working with a European counterpart: Protecting your interests Protecting the interests of your client Controlling the transaction

26 NAR Global: Core Products, Programs & Services CIPS Network & Designation The CIPS designation provides specialized educations & services to real estate professionals interested or involved in the international real estate arena. As a CIPS, you will be able to diversify your clientele and globalize your business. The CIPS Network Provides:  Prestige and New Business  Global Referrals  Personal Contacts  Networking Opportunities  Exposure: CIPS Directory Online Listing

27 Questions? Bruno Crosby Manager, International Market Development Global Business and Alliances Division National Association of REALTORS ® bcrosby@realtors.org 312 329 8829


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