In October, the Texas Association of REALTORS® signed an agreement with La Asociación Mexicana de Profesionales Inmobiliarios, Mexico’s real estate association, to collaborate in real estate throughout the region.
The partnership will enable practitioners on both sides of the border to help clients purchase homes in either country by sharing information, marketing techniques, educational content, and best practices.
“In recent years, we’ve seen increasing interest in cross-border real estate opportunities, both Mexicans purchasing property here in the U.S. and Americans purchasing property in Mexico,” said Joe Stewart, 2012 chairman of the Texas Association of REALTORS®, in the Amarillo Globe-News.
The agreement encompasses 12 other REALTOR® associations in Texas towns, including Austin, Brownsville, Dallas, Fort Worth, El Paso, Houston, and San Antonio.
Real estate south of the border continues to attract American retirees looking to make the most of their savings, as well as manufacturers turned off by rising labor costs in China. According to a recent report on CNBC.com, Mexico rode out the worldwide economic downturn better than many other countries, and its real estate market never suffered on the same level as that of the United States. And although there was excess inventory, that is quickly being snatched up by bargain hunters from both sides of the border.