Realtors Conduct International Training In China.

Business Editors

In a historic first, the National Association of Realtors(R) is beginning instruction in international real estate brokerage practice at the University of International Business and Economics (UIBE) here, July 13 -- 19. The Beijing course marks the first time that NAR will conduct training in China to enable real estate agents in that country to become full-fledged members of the worldwide Certified International Property Specialist (CIPS) network.

Graduates of the course will become eligible to receive NAR's CIPS designation and join the network of NAR's international property specialists who are able to handle referrals for overseas clients and facilitate international real estate transactions.

The CIPS network is the special membership group for international practitioners of NAR, and is composed of nearly 1,400 members in more than 53 countries worldwide who have completed special training in the practice of international real estate operations and are focused on transnational aspects of the industry.

"The Chinese government has made the real estate industry a major element in its new drive for economic growth, and total investment in real estate now accounts for 25 percent of their total investment in economic infrastructure. This underscores the importance of the shelter industry in the economic plans of a market that is now largest in the world, after the United States," said NAR President Martin Edwards Jr., a partner in Collier, Wilkinson and Snowden Inc., Memphis, Tenn.

"This development is important, as real estate in China becomes more international in scope, and as real estate practice around the world takes on a more international flavor. It will be increasingly important for Chinese real estate agents to have the tools that enable them to more easily interact with counterparts in other countries," said Gu Yunchang, executive vice president of the Chinese Real Estate Association (CREA), NAR's partner in the new educational venture.

"Change in our real estate markets is becoming so dynamic," Gu said. "Overall investment and housing supply should continue to increase at a rate close to 10 percent annually over the next three to five years. During that time, we expect the housing prices should remain stable, while residential construction should continue to grow for the next 20 years or so, as we work both to upgrade housing standards and also work with international trade and investment partners."

UIBE, originally founded in 1951 as the Beijing Institute for Foreign Trade (BIFT), is the leading Chinese academic institution conducting training and research in international business, and emphasizes career-oriented, values-centered education. The university offers 22 undergraduate major fields, 13 master's and two doctoral programs, and is accredited by the State Council of China as well as the Board of Regents of the State of New York for its Master of Business Administration (MBA) programs.

The initial course at UIBE will be taught by veteran international real estate consultant and educator Ari Feldman, CIPS, CCIM, SIOR, ALC, of Mexico City. Feldman, an American who lives in Mexico, has sold, leased and developed real estate for 24 years in five countries and four continents and is a recognized international real estate educator in North and South America, Asia and Europe.

CREA was established in 1985 as a nationwide organization comprising local associations and enterprises engaged in real estate development and management, marketing and construction. Currently CREA has about 1,000 members, including local associations and a few individual members.

The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing more than 800,000 members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at http://realtor.org. This and other news releases are posted in the Web site's "News Release" section.