1. Osceola County’s Global Market: How NAR can Help You Grow your Global Business Locally Carol Kairis Managing Director, NAR Global Business Training

2. Globalization and its Impact on Real Estate Global opportunities abound, especially at the LOCAL level! Are you capturing your share of this lucrative market? If not… WHY NOT?

3. Who are Global Buyers? Global Real Estate Transactions Include: Selling a home in your local market to an immigrant. Leasing a commercial property to a foreign investor. Assisting your local clients with the purchase of a second home in another country. Assisting foreign buyers with the purchase of a second home, student property, or investment property in the U.S. Having a transaction that contains an international client, funds, property, translation, and more!

4. Global Real Estate Trends in the U.S. Spilt evenly: $41 Billion International Buyers /$41 Billion Recent Immigrants Nearly 25% Increase over previous year 70% of Immigrants own their homes (Yun, et al., 2011. The 2011 NAR Profile of International Home Buying Activity.) $82 Billion $82 Billion Value of U.S. residential property sold to International Buyers & Recent Immigrants (March 2010 - March 2011)

5. Global Real Estate Trends in the U.S. $5 Billion $5 Billion Value of globally sourced commissions to REALTORS® between March 2010 and March 2011 (Yun, et al., 2011. The 2011 NAR Profile of International Home Buying Activity.)

6. Global Real Estate Trends in the U.S. $315,000 Median price paid by international home buyers $100,000 higher than the overall median sale price of existing homes 62% of international buyers use cash to cover full purchase price. (Yun, et al., 2011. The 2011 NAR Profile of International Home Buying Activity.)

7. Global Real Estate Trends in the U.S. Why Buy in the U.S.? Despite potential risks- depressed housing market, foreign laws, etc., cross-border investment continues to accelerate Affordability & Accessibility- weakened dollar, declining house prices, solid investment, supply, etc. Recent immigrants often view home ownership as an accomplishment and a means of establishment

8. Global Real Estate Trends in the U.S. Challenges  34% of International purchasers are unable to secure U.S. financing. REALTORS ® should be well-versed in challenges facing international buyers: mortgage issues, unexpected fees, taxes, residence requirements & immigration issues, etc. CIPS and global program involvement can help REALTORS ®

9. The Florida Connection Approximately 25% of ALL sales in Florida are to foreigners Nearly ALL sales to these buyers are paid in ALL- cash 77% of Florida REALTORS have worked with International Clients in the last year (Yun, et al., 2011. Profile of International Home Buyers in Florida)

10. The Florida Connection 4% of Florida’s workforce is employed by foreign companies. Florida exports totaled $55.2 billion in 2010 $5 billion exported to Switzerland, $4.7 billion to Brazil, and nearly $4 billion to Canada. (Yun, et al., 2011. Profile of International Home Buyers in Florida)

11. The Florida Connection 19% of total Florida residents are foreign born; 20% of Osceola County residents are foreign born 27% of total Florida households primarily use a non- English language). 45% of Osceola County households primarily use a non-English language Nearly 1 million Florida households report that Spanish is spoken at home Almost 500,000 more households use another Asian or European language 2010 U.S. Census Data

12. Over 100,000 New Immigrants arrive into FL annually; Where are International Buyers coming from? North America (Canada & Mexico) accounted for 41% of total international purchases in Florida, followed by Latin America (inc. Caribbean) at 26% & Western Europe at 23% ) ( Yun, et al., 2011. Profile of International Home Buyers in Florida) ( Yun, et al., 2011. Profile of International Home Buyers in Florida) 20% of all new immigrants coming into FL are from Cuba Philippines is the top non- Caribbean, non-Latin American source of immigrants to Florida

13. Destination of International Homebuyers: FLORIDA 1.Miami- Fort Lauderdale-Miami Beach 30% 2.Orlando-Kissimmee 14% 3.Tampa-St. Petersburg-Clearwater 11% 4.Cape Coral-Fort Myers 8% 5.Naples-Marco Island 6% 6.Bradenton-Sarasota-Venice 4% 7.Deltona-Daytona Beach-Ormond Beach 2% 8.Jacksonville 2% 9.Port St. Lucie 2% 10.Gainesville 1% 11.Palm Bay-Melbourne-Titusville 1% 12.Palm Coast 1% 13.Punta Gorda 1% 14.Other 16% (Yun, et al., 2011. Profile of International Home Buyers in Florida)

14. Working with International Buyers in your Market Destination of International Homebuyers: Osceola County Realtor.com ranked Kissimmee the 2 nd most popular location searched by consumers in the United Kingdom! 1. Los Angeles 2. Kissimmee 3. Orlando 4. Davenport 5. Los Vegas And the 2 nd most popular location searched by consumers in Puerto Rico 1. Orlando 2. Kissimmee 3. Miami 4. Tampa 5. New York Source: Omniture Discover /Realtor.com

15. Why Florida? Factors that influence international clients’ decision to purchase real estate in Florida 60% Desirable Location Profitable Investments Secure Investments

16. Why Florida? Location, Location, Location! Geography: Proximity to home country Convenience of air transportation- there are 15 Commercial Services International Airports in FL! Mother Nature: Climate, Beaches….. Escape Winter!

17. Working with International Buyers in your Market Education Buyers Assess opportunities at local colleges & universities: International Population? Housing needs? Establish relationships with University Housing Dept. Identify and contact university agents responsible for international recruitment & marketing Is there a country you’re most interested in working with? If possible, attend education exhibitions in your targeted country

18. Working with International Buyers in your Market Education Buyers Florida = 7 th most popular state for International Students $836 million dollars = Total Expenditure of Foreign Students in Florida (tuition, housing, cost of living, etc.) Leading Places of Origin for Foreign Students in Florida: China (14.2%), India (12.3%), Venezuela (6.7%), Saudi Arabia (4.9%), South Korea (4.7%) Open Doors: Report on International Education Exchange, 2011, www.iie.org

19. Working with International Buyers in your Market Osceola Colleges and Universities Rollins College: 150 international students from countries throughout Europe, Asia, Africa, the Middle East, the Caribbean, the South Pacific Islands, and Latin America Valencia College: Students from over 93 nations Open Doors: Report on International Education Exchange, 2011, www.iie.org

20. Working with International Buyers in your Market Finding International Buyers Local chamber of commerce- connect with ethnic community centers, clubs, etc. Familiarize yourself with the EB5 Program Make contacts with Visa Companies & Immigration Lawyers Identify International Businesses in your area- market their executives and HR departments Link with Foreign brokerages to promote referral opportunities

21. Working with International Buyers in your Market Global Business Councils Nearly 90 Global Business Councils in 24 states. Over 240,000 members represented 50% program growth (30 new councils) since August, 2010

22. Working with International Buyers in your MarketHow NAR Can Help you…. www.realtor.org The new & improved customizable member website has just launched!

23. Working with International Buyers in your Market How NAR Can Help you…. www.realtor.org Select “Global” as one of your preferred categories

24. Working with International Buyers in your MarketHow NAR Can Help you…. www.realtor.org/global NAR’s Global information & activity portal- providing resources and tools to help members globalize their business

25. Working with International Buyers in your MarketHow NAR Can Help you…. RESEARCH Global themed Field Guides http://www.realtor.org/library 2011 State-by-State International Business Reports (Florida) http://www.realtor.org/research/research/stateinternati onalbusinessreports http://www.realtor.org/research/research/stateinternati onalbusinessreports Profile of International Home Buyers in Florida (Aug ‘11) www.floridarealtors.org/Research/upload/FloridaInternationalSurvey-August- 24-2011.pdf www.floridarealtors.org/Research/upload/FloridaInternationalSurvey-August- 24-2011.pdf

26. Working with International Buyers in your Market How NAR Can Help you…. RESOURCES Access ebooks.realtor.org and click “international.”ebooks.realtor.org Over 300 FREE English language titles on doing business with global and multicultural buyers. Learn how to speak other languages Hundreds of non-English titles

27. Working with International Buyers in your Market How NAR Can Help you…. TECHNOLOGY Your listing on Realtor.com ® are now on Realtor.com International ® www.realtor.com/international Translations in 11 languages: English, French, Spanish, Portuguese, Italian, German, Dutch, Chinese, Japanese, Russian, Korean International Property listings- 16 countries currently represented Currency & Metric dimension converters Access to international site from REALTOR.com – up to 1 million non-US visitors use REALTOR.com per month Market to International Buyers- Create translated listing brochures NO CHARGE!

28. Realtor.com® International Site Overview Landing Page Visitors language & currency preferences are saved as a default Currently there are over 1.1million international (non U.S.) listings on the site representing 16 countries- Additional countries will be added in the coming months

29. Create Listing Brochures Circulate via Social Media: Facebook, Twitter Linked In, My Space

30. Working with International Buyers in your Market How NAR Can help you… EDUCATION Become a Certified International Property Specialist (CIPS) The ultimate global tool kit

31. Working with International Buyers in your Market How NAR Can Help you…. Certified International Property Specialist www.realtor.org/earncips CIPS designees earn, on average, $50,000 more per year than non- designees. Become part of a worldwide network of over 2,000 top global real estate professionals. Generate referrals and grow your network Classes offered in the classroom & online Register for an online class and save 15% between now & August 15- Coupon code CIPSAN15

32. Working with International Buyers in your Market How NAR Can help you… EDUCATION Earn the Resort & Second Home Property Specialist Certification (RSPS)

33. Working with International Buyers in your Market How NAR Can Help you…. Resort & Second Home Property Specialist Certification (RSPS) www.realtor.org/resort Resort & Second Home business often derive from global sources. Tap into a network of 1,500 leading resort & second home practitioners from around the world RSPS Member-Only benefits – NING Site, Tool Bar, Referral Form CIPS designees are half way there to earning RSPS.

34. Working with International Buyers in your Market How OSCAR Can Help you…. The Osceola County Association of REALTORS Global Business Committee! Network with other REALTORS who are actively engaged within the Osceola County global community Create Relationships with Immigration Attorneys, Mortgage Brokers, and other allied partners who can help you close your global transactions Learn new tips & techniques to earn your share of the $5 Billion worth of globally sourced commissions

35. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Next Steps…. Communication Create electronic resources dedicated to global & multicultural business. Send regular global updates to members Do you know how many members speak a foreign language? Share this information! Provide links to local non-REALTOR® resources (immigration attorneys, lending institutions, appraisers, translated contracts, etc.) Include information from NAR’s Florida State-by-State report, Profile of International Home Buying Activity, and Global Perspectives.

36. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Next Steps… Networking Be sure to include non-REALTOR® business partners (developers, immigration attorneys, tax advisors, educators, governmental officials) in global business council activities and communications. Position your global business council as a REALTOR®-driven community group designed to raise awareness of global buyer groups locally and help allied professionals work together to secure their business.

37. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Next Steps…Networking Contact Local Economic Development Office and Chamber of Commerce. Enlist their assistance in finding local Cultural Chambers of Commerce, Foreign Language Groups, and Ethnic Clubs. Attend these groups’ meetings and network with members. Attend Florida Realtors Global Day

38. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Next Steps… SOCIAL MEDIA Create a Facebook site and Twitter feed for your association’s CIPS designees and other globally-minded agents and allied professionals.

39. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Research Work with NAR’s Global and Research departments to collect data on local foreign direct investment and immigration. Engage/Market to immigrant communities and employees of foreign firms investing and operating within your local market. Consult NAR’s State-by-State report to identify immigrant groups and top export industries.

40. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Research Work with MLS to capture and quantify foreign purchases or sales to foreign buyers and communicate findings with members. Update MLS system to include metric conversion and currency conversion capability.

41. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Apply for the Global Business Council Achievement Program Earn national recognition as a Silver, Gold, or Platinum-level council. Take advantage of case studies, exclusive webinars and marketing opportunities. Generate business for yourself and your colleagues.

42. Working with International Buyers in your Market Growing the OSCAR Global Business Committee Global Business Council Achievement Program Platinum Councils honored at International Night Out during NAR’s Annual Conference and are the subject of a case study and NAR webinar. Gold Councils are the subject of case studies and are promoted widely on Realtor.org. Silver Councils receive a certificate of achievement and are promoted on Realtor.org. Applications will be available online in August

43. Questions? Carol Kairis CIPS, ePRO, RCE, RSPS, SRES Director, NAR Global Business Training ckairis@realtors.org