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

Illinois Association of Realtors® Multicultural Summit Europe: what's in it for you?. Sell Commercial Real Estate. Raise your hand if…. Lease Commercial Real Estate. Rent Residential Property. Advise U.S. buyers on investment opportunities in Europe. Raise your hand if….

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

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

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

  3. Advise U.S. buyers on investment • opportunities in Europe Raise your hand if…. • 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. Types of Foreign Buyers in Chicago? Investment Buyers • Affordability- Weakened U.S. Dollar • Accessibility- ORD Major International Hub • Solid Rental Options • Supply

  7. Immigrants, 1st 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. International Students TOP U.S. STATES Hosting International Students • California • New York • Texas • Massachusetts • Illinois Data Provided by the Institute of International Education 2011 Fast Facts

  9. International Students 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

  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. 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 Your International Options

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

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

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

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

  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 NetworkProvides: • 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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