More than 100 real estate professionals gathered in Oak Brook, Ill., Thursday, April 18, 2012, to learn about strategeies for building international business.
This year's Multicultural Summit, the third sponsored by the Illinois Association of REALTORS®, focused on European and Russian markets.
Illinois is well positioned to reap the benefits of interest in real estate from European and Russian investors, a representative of the National Association of REALTORS® told more than 100 real estate professionals. Bruno Crosby, NAR's manager for international market development, told those attending the Third Annual Multicultural Summit held at the Butterfield Country Club in Oak Brook, Ill., that the state enjoys three key attributes, not the least of which is affordability. Crosby said a weak dollar creates greater purchasing power for overseas clients.
International clients are eager to buy property in the U.S. But while there is plenty of opportunity, these buyers need additional help to navigate a real estate system which may be unlike anything they have experience with said Don Pasek, CIPS, and managing broker for Omniterra Real Properties. He shared tips on how to reach and build connections with those interested in buying.
Globalization of business is making the U.S. one of the top relocation destinations in the world, said Dianne Amos, CRP, GMS, vice president of client services with RELO Direct Inc.That means real estate professionals interested in working with clients relocated from another country should signal clearly on their websites that they offer services targeted for this group.
Experts in immigration law and currency exchange shared tips with REALTORS®, including basic steps to make sure money from a foreign country arrives in time for closing. Darren Connor with Moneycorp said foreign investors are looking to U.S. real estate because of a weak dollar. Mary Carmen R. Madrid-Crost outlined the basics to make sure that someone purchasing property has the government status to do so.