International NAR Outreach

An Overview of REALTORS® International Outreach

As international developments play an increasing role in how and where foreign capital is invested throughout the world, the NATIONAL ASSOCIATION OF REALTORS® is expanding global real estate market opportunities for its members, while advocating private property rights around the world. Through its International Section, NAR establishes and maintains agreements with real estate associations and organizations in other nations. The International Section currently has cooperation agreements with 30 professional real estate associations in 27 nations. Since 1992 the Section membership has grown to more than 1,500 members.

International capital markets influence home buyers in the United States. Foreign investment in U.S. securities contributes to a stable domestic economy and affordable housing conditions. However, as more attention is focused on economic matters at home, foreign investment funds have been diverted by increased economic integration within Europe, rapid economic growth in East Asia and an improved investment climate in parts of Latin America

Foreign investment plays an important role in U.S. real estate, but in no way do foreigners control the market. Foreign ownership of U.S. real estate has steadily declined since 1990 when it was about $45 billion. In 1994, foreign ownership of real estate was valued at $28.4 billion, about the same as it was in 1993. By the end of 1994, Japan held 34.4 percent of real estate investment assets, the largest percentage of total foreign real estate ownership. The Netherlands followed with 18.7 percent and the United Kingdom with 15.4 percent. Canada had 10.4 percent foreign real estate ownership. Europe as a whole registered 41.5 percent of real estate investment holding.

Technology is playing an important role in the growth of the international real estate practice. As more members of NAR's International Section use the Internet to communicate electronically, access to information on global sources of international real estate market is also increasing. NAR has established a presence on the Internet that includes an International area. The NAR "Home Page" (http://www.Realtor.com) lists home property ads from throughout the United States via the REALTORS® Information Network (RIN) area, along with links to other Internet real estate sources in the United States and throughout the world.

REALTORS® are also expanding their market knowledge through international real estate education. Currently, 335 REALTORS® throughout the world have earned the Certified Property Specialist (CIPS®) professional designation. The CIPS Institute curriculum was offered for the first time in Brazil last year, and will be offered in Budapest, Hungary; Quebec City, Canada; and five U.S. locations this year. International Section members also participate in study tours, including Europe's premiere commercial real estate show, known by its French acronym MIPIM. The educational highlight of the year is the NAR International Symposium, held in conjunction with the association's Annual Convention. In November 1996, more than 1,000 non-U.S. participants from more than 40 nations are expected to attend this Symposium, which includes sessions on using the Internet in global real estate; international property marketing sessions, and a "showcase of international real estate markets" with delegates from NAR's association partners. More information on the Convention is available on NAR's home page or by Instant Return Fax: in the U.S. call, 1 (800) 695-0062. Internationally, call 1 312/329-8873.

REALTORS® are also establishing international "councils", which include business outreach groups in Missouri, Kansas and Hawaii. Many of these groups are linking with their state's economic development organizations, tapping into government resources, World Trade Centers, and other international chapters in the U.S. For an Instant Return Fax on membership in NAR's International Section, call 1 800/227-5638 in the U.S. Or 1 914/591-3216 internationally.