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I added the following to your writing on real estate brokers Maria Van Gelder

Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to Census data.

Most local real estate agents, view the foreign market as a significant revenue potential and have already worked with international clients in their local market, new immigrants or more sophisticated investors from different cultures and from other countries. They are providing value-added services to, for example, an overseas relocation employee figure out which inoculations his or her children will need, and the steps needed to register a car in the United States. Real estate brokers want to keep central to the transaction, protect the best interests of their members and address the unique needs of each multicultural global client and acquiring specialized training and designations.

The Certified International Property Specialist (CIPS) distinguishes CIPS designees as individuals who have both hands-on experience in international real estate transactions, Whether traveling abroad to put deals together, assisting foreign investors, helping local buyers invest abroad, or serving an immigrant niche in local markets. CIPS designees have also successfully completed an intensive 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. The CIPS network is comprised of 1,500 real estate professionals from 50 countries who deal in all types of real estate.

Recently the Mexican association of real estate practitioners in Mexico, AMPI, and the NAR, National Association of Realtors in the US signed a bilateral contract for international real estate business cooperation. Also at the local level, many other state and local associations are helping other countries achieve the same result. For instance, in NM, a historically multicultural state, under the RANM, Realtor Association of New Mexico and the President’s Advisory Council, is looking into forming an ambassador association to help a foreign country into signing a bilateral agreement with the NAR. In NM, there are 4500 licensed real estate professionals and only 14 or 5 CIPS designees, out of whom, only 6 speak a language other than English.

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