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International opportunities only an association away.

Foreign buying activity has increased over the last decade. Foreign buyers, whether individuals or institutions, have had strong interest in owning real estate in the United States. Although that interest may have slowed down over the last few years, those of us who are interested and involved in International real estate activities can attest to the fact that there is still a healthy interest and serious acquisition activity from abroad.

The profile of a foreign buyer differs dramatically from die average domestic buyer. It is not unusual for purchases to be made in cash or with very little leverage and they often prefer to own properties similar to what they own in their own country. Location is one of the most important elements of consideration.

There are so many factors that are relevant to working with foreign buyers, that it is important to be aware of as many as you can. Educational programs are available to enhance your skills and broaden your capabilities. Cultural training as well as educational curricular are also offered by several associations.

Selecting the right association for membership can give you direct access to clients and contacts and provide you with educational programs and useful information which will enable you to effectively expand your capabilities and business.

Today opportunities to network within International arenas exist through the following three important associations:

1."FIABCI," The International Real Estate Federation. Founded in Paris, France in 1951, FIABCI is really a Federation of Associations. FIABCI, provides an international link for approximately one million appraisers, counsellors, real estate finance experts, promoters and builders, brokers and property managers grouped together in 84 National Associations in 50 countries around the globe. Included with dues, a membership Directory, Newsletters, Educational program, International congress and meetings. Professional exchanges. Since 1954, FIABCI has enjoyed consultive status as a non-governmental organization with the Committee of Housing, Building and Planing of the Economic Commission for Europe under the United Nations Economic and Social Council It has been a permanent representative with that body in Geneva and New York.

2. N.A.R., The National Association of Realtors', International Operations Section. membership in the International Section is open to members of NAR. The International Section offers networking and educational benefits: A membership Directory; Newsletters; Educational programs with an opportunity to earn the designation of NAR's Certified International Property Specialist (CIPS) designation; National conventions; international Trade and Study Tours; international Real Estate Symposiums; opportunities to offer your Technical knowledge and educational assistance to the Republics of the former Soviet Union and to Eastern Europe through the independently operated Eastern European Real Property Foundation.

3. NACORE, International Association of Corporate Real Estate Executives. More than 3,300 professionals who are responsible for developing facilities and managing real estate assets for corporations whose primary business is not real estate. These executives are involved with the acquisition and caretaking of real estate used by their companies, not owned/developed for investment or speculative purposes. International activities include, the annual MIPIM real estate meetings in Cannes, France each March.

Those professionals with "vision" have already become active in the future "International" arena joined an association. Myself and many of my colleagues in the business for more than a decade or two have been members and actively doing business with foreign buyers or sellers of investment property or personal property.

The vast majority of real estate professionals have not been exposed to this special category of business. In some cases this new opportunity could add 10 or 15 percent to your company dollar the first year you identify and go after the business opportunity.

How can you join or take advantage in the educational opportunities that are available to grow your bottom line? For information, please call: Susan Merdinger, president and managing partner, Jean-Marc Levet & Partners, (212)980-0800.

Susan Merdinger is president, FIABCI-NY Council 1993; chairman International Section Subcommittee-National Association of Realtors; member, NACORE-NY and exhibitor MIPIM.
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Title Annotation:Career Development; includes listing of real estate associations featuring international opportunities
Author:Merdinger, Susan
Publication:Real Estate Weekly
Article Type:Column
Date:Aug 18, 1993
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