|
|
|
| |
- Illinois REALTORSŪ Invested in Asian Markets
- Do Your Research to Impress Clients and Customers!
- It's Not Too Late to Celebrate
- Turkey: Instability Could Mean a Good Opportunity
- EU View of 'McPassport' Worker Plan
- Case Studies on Global Housing Issues Online
- Marketing to Asians and Hispanics
| |
|
|
The Illinois Association of REALTORSŪ (IAR) has done their research and knows that there are 5,821 internationally-owned business in the state. A map marking their locations shows they are spread fully around the state--from the most northern to the most southern point. IAR's leadership recognizes the impact foreign investment has on the U.S. market and is being pro-active to educate its members and draw the world's attention to investment opportunities within Illinois. Case in point, a group of 19 REALTORSŪ recently returned from a trade mission to Beijing, Shanghai and Hong Kong, the latter which was the site of the MIPIM Asia conference which brought together leading decision makers in real estate development in the Asia Pacific region. IAR partnered with the Illinois Dept. of Commerce Office of Trade and Investment to exhibit in a U.S. pavilion sponsored by the U.S. Dept. of Commerce Commercial Services. Read a press release on IAR's Asian trade mission, or get a real taste of the trip from a IAR blogfilled with fun photos. Although this was IAR's first trade mission abroad, the association has an active international program and an extensive web site of global resources.
|
|
|
|
Real estate firms or agents working with individuals from a specific country--either as recent immigrants or who remain closely tied to their ethnic roots--can make a positive impression with potential clients and customers by taking a few moments to learn a bit about their native country. One resource is CultureGrams which provide an insider's perspective on daily life and culture, including the history, customs, and lifestyles of the world's people. CultureGrams are available in print formats and electronic media for a fee based on quantity. View a sample report. Also available is a CultureGram designed for foreign nationals coming into the USA, which presents the American people’s customs, courtesies, diet, recreation, etc., in an 8-page report. REALTORSŪ may find this a nice welcome gift for new in-bound clients. If the office budget doesn't allow for such resources, the CIA World FactBook is a great online resource that provides detailed information on the majority of the world's countries.
| |
|
Last week marked the end of Hispanic Heritage Month (Sept. 15 - Oct. 15), during which time America celebrates the culture and traditions of U.S. residents who trace their roots to Spain, Mexico and the Spanish-speaking nations of Central America, South America and the Caribbean. But it's never too late to recognize the tradition. According to the U.S. Census, there are 31 million U.S. residents age 5 and older who speak Spanish at home, constituting a ratio of more than 1-in-10 U.S. household residents. View the percentage of Spanish speakers in your state or view your state's ranking nationally (Texas tops the list at 29% with Vermont bringing at the bottom at .7%). The U.S. average is 12%, with 10 states above the national average. REALTORSŪ looking to serve this market will find that some knowledge of Hispanic heritage and/or learning a few basic phrases of Spanish can go a long way towards connecting with this growing group of homebuyers. For a little fun at the next sales meeting, brokers or office trainers can distribute a crossword puzzle on Hispanic heritage, and award a prize to the agent who completes it first or most accurately. REALTORSŪ looking to learn a little Espaņol from the comfort of their home can check out "Dr. Blair's Spanish in No Time," available as a digital book from the NAR Library. The audio format can be burned to CD for continued personal use.
|
|
|
|
For years, buying property in Turkey was perceived as risky and from the 1950s until 2000, the country's FDI totalled only $18 billion. That impression is changing and in the first seven months of 2006, Turkey's FDI was $9.2 billion, of which nearly $2 billion went into the red hot real estate market. Recent increases in interest rates in the U.S. and Europe, however, diverted investments from emerging markets, including Turkey, where inflation has been on the rise since April. The Turkish lira, which has lost about 20% of its value against the dollar, was hit by global capital flight and domestic political tensions. In June, the central bank drew praise from the International Monetary Fund for efforts to stabilize the currency and control inflation, but economists are divided on predictions for the future. For those who enjoy risk, Turkey may be an appealing given its climate, low cost of living and offerings of coastal vacation properties. A law passed in January 2006 permits foreign ownership of real estate, as long as the properties are used as private residences or workplaces, and Turkey allows for 100% repatriation of profits. Download an in-depth market report by PEGA, Jones Lang LaSalle's real estate consulting partner in Turkey, or CB Richard Ellis' shorter 3Q '06 market brief which addresses Turkey's economic changes and their corresponding effects on the Class A+, A and B office markets, residential market and retail markets. Read more about foreign ownership of property in Turkey, or for serious students of land structure, download a report on the concept of ownership in land arrangements (published in 2002).
| |
|
McDonalds--one of the early global franchisors--plans to launch a certificate called “McPassport” to make it easier for its European employees to work at outlets in other EU member states. The McPassport certifies the training and skills that employees have acquired while employed by McDonald's, which McDonald's views as a benefit to employees looking to travel and explore other countries, while still earning a paycheck. Although the initiative has been welcomed by the European Commission within the context of the European Year of Workers' Mobility, some pols in Brussels see it as a ploy for expanding the pool of cheap labor from the newer EU states in Central Europe. Although many Europeans view McDonald's as a downside of globalization (and perhaps America as well), McDonald's has more than 6,300 outlets in 41 European countries where it claims 10 million customers a day. Although REALTORSŪ travelling in Europe are encouraged to experience the local cuisine, with over 225,000 employees from the 25 EU member states eligible for the McPassport, a McDonald's could become a place to connect with young travelers with the potential to become future investors or homebuyers. A stretch? Perhaps, but at least you may run into other Americans looking for a little taste of home, which is always a good opportunity to market your services.
|
|
|
|
|
|
The "International Housing Coalition" (IHC) has recently posted at its web site a series of papers presented at the"2006 Urban World Forum" in Vancouver last June. The IHC offered track of 12 sessions that focused on innovative approaches and best practices for expanding the supply of low income housing in countries around the world, including models from the "U.S." and "Canada". "Read or download all case studies for these sessions". The mission of the IHC is to promote the goal of 'Housing for All' as an essential element to ending poverty worldwide. NAR is a Founding Sponsor of this organization, along with the Canadian Real Estate Association and Habitat for Humanity International.
| |
|
REALTORSŪ attending the 2006 NARdi Gras celebration of the REALTORSŪ Annual Conference & Expo in New Orleans have a great opportunity to participate in two new programs geared to international specialists: an Asian and Hispanic marketing session. Both sessions focus on sales and doing business with these groups in the local market, and are designed to provide practical, take-home information in a dynamic format that encourages networking with colleagues and topic experts. Both sessions will be held on Sunday, Nov. 12. Access the full program schedule, but be sure to add these two programs to your schedule. For those not traveling to New Orleans next month, NAR offers a vast array of online resources for agents and brokers looking to better understand and serve these markets. Much of the information is nicely organized at REALTORŪ Magazine Online's page on "Servicing Your Multicultural Clients."
|
Report compiled by NAR International Operations, narglobe@realtors.org.
|
| | |
| |
|
| |
|
|
