Compete in an International Marketplace

By Teresa King Kinney, CEO, Realtor Association of Greater Miami and The Beaches

If you take into account the substantial number of international buyers who invest in South Florida real estate – 15 percent of all buyers are international, not including foreign nationals with U.S. residency status – it makes sense to target international clients. But how do you make yourself stand out from the competition?

Education and expertise are two of your best tools if you work in an international marketplace. To best increase your knowledge, expertise and marketability as an agent, there are certifications and designations that will set you apart from the competition.

Emphasizing the importance of the Certified International Property Specialist (CIPS) designation, in a May 1 article featured in Business Week, Certified International Property Specialists were referenced as “professionals…with expertise” serving clients on an international level. Since it was published, the National Association of Realtors (NAR) has directed many prospective clients to CIPS designees.

NAR created the CIPS Network to help
educate and establish contacts for real estate agents whose business activity focuses on the international real estate market. As the specialty membership group for the international practitioners of NAR, the CIPS Network is comprised of only 1,500 real estate professionals who deal in all types of real estate but focus primarily on international real estate activity.

These professionals are individuals who have completed a week-long education program on international real estate and are featured on the online directory, where other professionals can search by for someone with specific business, location and/or language specialties.

CIPS Education
To become part of the CIPS Network, an agent must obtain the CIPS designation, which will create increased business opportunities as a result of the knowledge and expertise acquired. Your advanced skills and capabilities will be recognized by fellow professionals and prospective clients.

The CIPS course curriculum is the educational foundation of the CIPS Network.
It distinguishes CIPS designees as individuals who have hands-on experience in international real estate transactions and have successfully completed an intensive seven-day program of study focusing on critical aspects of transnational transactions, including currency and exchange rate issues and cross-cultural relationships, regional market conditions, investment performance, tax issues and more.

RAMB offers the two-day pre-requisite introductory course to the CIPS International Real Estate Courses:
International Real Estate for Local Markets
May 30 – 31
700 S. Royal Poinciana Blvd., Suite 400
$275 RAMB members, $350 non-members

The other courses to complete the education requirements also presented by RAMB this fall:
1. Europe and International Real Estate (1 day)
2. Asia/Pacific and International Real Estate (1 day)
3. The Americas and International Real Estate (1 day)
4. Investment and Financial Analysis (2 days)

Transnational Referral Certification Course
Like the CIPS designation, the Transnational Referral Certification (TRC) will boost your success and profitability by expanding your international knowledge and enhancing your exposure among international clients and other professionals.
When dealing with professionals in other countries, it is important that you do business with those who are familiar with conducting referrals. The International Consortium of Real Estate Associations (ICREA) has designed the TRC to facilitate compensated referrals between agents of ICREA member associations throughout the world. This course teaches agents how to integrate referrals into your business plans, resulting in increased income.

Take the next TRC course presented by RAMB in both English and Spanish during the 10th Annual International Real Estate Congress.
June 13
The Biltmore Hotel, Coral Gables, Fla.
Course is free; certification is $99

The 12,500-member Realtor Association of Greater Miami and the Beaches (RAMB) includes the Residential Association, Realtors Commercial Alliance and the largest local International Real Estate Council in the nation. RAMB has been serving the industry, public and community for 85 years.

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