CAR Global Council panel discussion encourages understanding of different cultures


Earlier this month, the Chicago Association of REALTORS® presented a panel discussion on the topic “How to Monetize Global Real Estate” at the East Bank Club. Mabél Guzmán served as moderator for three panelists: Sonia Anaya, Jim Kinney and Susanna Cherubin-Delisi.

The panel had a well-rounded collection of advice and experiences to share with the group.

Anaya highlighted the fact many members are probably engaging in global real estate and are not even aware of it. She said, “You may sell a home in your own backyard to a client from a different country. In most instances, the cultures and the common practices they are accustomed to are different than the way we do a transaction.”

Understanding those differences and having the ability to relate in a culturally astute way is becoming more and more important in today’s marketplace.

According to NAR’s Profile of International Activity (http://www.realtor.org/reports/profile-of-international-home-buying-activity), foreign buyers purchased $102.6 billion of residential property from April 2015 to March 2016. While the global economy and currency fluctuations will impact annual global activity, international investors and home buyers are a part of our economy. Our members, as the trusted advisors, should have some understanding of culturally diverse business practices.

Kinney mentioned the value of the Certified International Property Specialist (CIPS) designation and tools available for REALTORS®, including the international property database through REALTOR.com (http://www.realtor.com/international/).
“These are here for the members to use and help their clients, both inbound and outbound,” said Kinney.

 

 

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