The Miami Association of Realtors recently entered a partnership with the Real Estate Institute of New South Wales, an agreement the associations expect to foster more international transactions.

The Miami Association of Realtors (MAR) recently entered a partnership with the Real Estate Institute of New South Wales (REINSW), an attempt by both parties to capitalize on consumer interest in South Beach and the Australian state.

Australia is the third most moved-to country for people leaving America, according to a recent press release announcing MAR’s agreement. Likewise, the release said the amount of people moving to America from Australia ranked fourth in UniGroup Relocation’s International Migration Study.

Furthermore, the release cites the 2013 Profile of International Buying Activity in Florida, which reveals that Florida accounts for 23 percent of all international real estate transactions in America. South Florida is particularly attractive; it is home to 30 percent of Florida’s international sales.

Fueled by such statistics, MAR expects its collaboration with REINSW to boost the already high demand from foreign nationals.

“We are honored to have signed an agreement with REINSW, the largest and most comprehensive real estate organization for real estate agents in Australia,” said Liza Mendez, MAR’s 2014 Chairwoman of the Board. “This new relationship will prove to be extremely beneficial for our members and markets, as we collaborate to generate international business opportunities and make our respective members more successful.”

The agreement with REINSW bumps MAR’s international partnerships up to 119, according to the release.

REINSW CEO Tim McKibbin said in the release that the dynamic of real estate has shifted, with rising amounts of people willing to invest in properties across the world, rather than limiting their search to familiar neighborhoods.

“As each day ticks by, our world gets smaller and people are no longer bound by investing in their own city,” McKibbin said. “We tend to invest more broadly now than we did 20 years ago, and people are looking to invest in property overseas. Our focus is to facilitate the international trade of real estate, and to be a conduit for our members between Australia and other markets. That’s why this partnership with MAR is so important.”