By Teresa King Kinney, CEO, Realtor Association of Greater Miami and The Beaches
South Florida is an ideal place for real estate business, presenting endless avenues to enjoy success in the real estate industry. Its warm climate, cultural diversity and proximity to both Europe and Latin American help attract both international and U.S. buyers.
According to the 2005 National Association of Realtors (NAR) Profile of International Home Buyers in Florida, international buyers account for 15 percent of total home sales in our state. In addition, there are significant numbers of foreigners with permanent resident status, not included in the above figure.
Second home transactions set another record
South Florida is also the perfect place for Baby Boomers and others who are buying up second homes for vacation and investment purposes. According to an annual report by NAR, more buyers are investing in second homes than ever before, setting another new record in 2005. Four of every 10 real estate transactions nationally are for second homes. Second homes sales rose 16 percent from the previous record year. The market share of second homes increased from 36 percent of transactions in 2004 to 39 percent in 2005.
Real estate professionals should take advantage of the opportunities offered by the marketplace. Despite the opportunities, targeting clients may seem challenging at times. While globalization and technological advances should facilitate things in the business world, increased possibilities can also bring about obstacles.
International conferences, expos and events
While a combination of factors—education, experience, exclusive services—are important for continued success, participation in international expositions, conferences and courses can help distinguish you from the competition. These worldwide events are also vehicles for marketing your properties to qualified buyers.
These U.S. and international expos and conferences are effective in helping you connect with professionals from the United States and around the world. Once you make a few contacts with these professionals, your business opportunities will multiply through their clients and other referrals. Whether you exhibit, visit the expos or participate in the educational conferences and seminars, you will benefit immensely from the experience.
RAMB’s upcoming international opportunities for you to consider:
June 26 – July 1
CIPS Designation Course in Paris, France
Expo Bienes Raices in Mexico City, Mexico
Secovi Convention & Expo 2006 in Sao Paulo, Brazil
MIPIM Asia in Hong Kong
Sept. 29 – Oct. 1
Salon Immobilier de Paris in Paris, France
Commercial & Investment Real Estate Expo in Miami
Real Estate Market Exhibition in Buenos Aires, Argentina
Central European Real Associations Network Conference in Sofia, Bulgaria
Forum de l’Investissement in Paris, France
DOMEXPO in Moscow, Russia
Expo Real 2006 in Munich, Germany
NARdi Gras & Expo in New Orleans, La.
RAMB Incoming Trade Missions – Russia, Brazil, and more
Salon Immobilier in Paris, France
May 30 – June 3, 2007
SIMA07 in Madrid, Spain
June 19-21, 2007
RAMB International Real Estate Congress in Miami
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.