Published by the CIPS Network of the National Association of REALTORS®
Third Quarter 2009
A Good Kind of Global Warming
By Barbara Schmerzler, CIPS, ABR®, CRB, GRI,TRC
We’ve all heard about global warming.The impact of a rise in the earth’s temperature on all aspects of our lives (including real estate) continues to be debated, with some predicting more dire consequences than others. I care deeply about our planet and its future, but I confess that as a REALTOR®, a CIPS designee, and International Operations Committee chair, this has not been my focus in recent months. And so it was that when I recently received an email from a colleague mentioning “global warming,” my thoughts went to a very different type of global warming.
Warm Up to the Global Marketplace
My first thought was to wish for more NAR members to ‘warm up’ to the idea of a global marketplace and the associated business opportunities. Having talked with industry leaders around the world, I know this is not a unique desire. Many real estate professionals, regardless of their country, simply cannot see opportunities that are right in front of them.The minute they hear “international,” they think “this is not for me; my business is local.” One-to-one, I’m able to point out the international aspects of local business and how to grow that part of a practice, but of course I can only reach a few that directly.
The current economic situation has not helped this picture. Events of the past year have produced isolationist thoughts in even the most global thinkers. It’s easy to understand why property professionals might tune out and turn away from nurturing global business development plans right now. I say, though, this is exactly the time to (re)warm up to the global market.
The Time is Now
Let’s admit it, most of us have more time on our hands now than we did a year or two back. With increasing reports of markets finding the bottom and stirrings of market activity, there is growing confidence that, if we’re not yet on the road to recovery, we can at least see the signposts pointing the way.Yes, it’s going to take some time—months certainly; a year or two, possibly—but there is little question that the market will return. I can envision a day when we will recall with some fondness the downtime of today’s market. (Really. Admit it. We are a ‘grass-is-always-greener’ sort!)
Given that, now is the time to work on building your global business. Help buyers to see the advantages of the current market. Prices are down and may not get any lower. Inventory is plentiful. Like the current running NAR television commercial says, it’s time to get off the fence! While many of the global second home markets have been devastated by this economy, Spain’s
Costa del Sol and Mexico’s Mayan Riviera are just as beautiful as they were two years ago—perhaps just a little less crowded.And if that retirement fund isn’t worth what it once was, there are many markets worldwide where less money still buys more.
Use Your Down Time
Maybe you’ve been holding off attending one of the global property marketing conferences.Travel prices are down in many locations and there are great hotels deals to be had. Once there, you’ll find that developers and other industry professionals are more available and engaged. Conferences may be smaller, but attendees report that this provides excellent opportunities to establish and grow relationships.And,as we know,relationships are fundamental to global business and, in some markets, a prerequisite with little or no exception. Check out some great upcoming opportunities at www.realtor.org/international/events.
The other thought that “global warming” put in my head is more U.S.-centric. NAR is the largest industry trade group in the world and I’ve no doubt that what NAR puts its mind and resources to, it can accomplish. That said, in a global community, size is often outweighed by consensus and cooperation when it comes to accomplishing objectives, and each country industry trade group has its own objectives.
Although I am a strong believer in U.S. business practices and am extremely proud of the business and organizational models NAR offers up to the world, I believe that those of us who represent NAR abroad must understand that other groups feel as strongly about their agendas and local business practices. These must always be recognized while seeking mutual benefits.
Join the Global Community
Of course it’s not always so simple, but speaking for myself, I know that without cooperation there’s no global community and without a global community, I’ll be left to try to do international business on my own, probably without much success.
In these times, as we all evaluate our personal and business investments and seek most immediate returns, it’s useful to remember that an international practice is a long-term investment requiring a cooperative and consensual approach.The most effective international business is done by brokers and agents who understand this and embrace this unique form of global warming.
 Barbara Schmerzler, CIPS, ABR®, CRB, GRI,TRC
U.S. Homefinders, Inc. Westport, Connecticut
Chair, 2009 NAR International Operations Committee
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