1. 4. Real Estate Professionals Page 59

2. Licensee or REALTOR ®  REALTOR® = member of NAR  Membership voluntary, open to all real estate licensees  About 50% of real estate licensees are members  Pledged to uphold the REALTOR® Code of Ethics Page 60

3. State Regulation  State legislatures regulate real estate licensing  Appointed commissions oversight  Okay to hold licenses in more than one state  No reciprocity between states  No federal licensing Page 60

4. Roles of Real Estate Professionals  Brokers: firm’s principal, often the owner  Agents: must work under broker supervision  Professional Assistants: administrative and clerical  Office Managers: day-to-day supervision of sales staff  Commercial Staff: specialists Page 60-62

5. Primary Business Activities Page 62

6. Typical REALTORS ® Residential  Female, age 56  In business 12 years  12 transaction a year  $47,700 gross income  27% have foreign clients  21% of business from referrals  1 in 10 is foreign-born  18% speak another language Commercial  Male, age 60  In business 20 years  11 transactions a year  $125.900 gross income  52% work for a local firm  13% work for an international firm Page 63

7. Making Connections Page 64

8. Buyer or Seller Preferred?  U.S. agents may think foreign buyers :  Will shop around for agents  Think they don’t need an agent  Think it’s good idea to work with several agents  Listing agreement commits seller to agent  Commercial firms—depends on market Page 65

9. Finding the Right Receiving Agent  Research potential receiving agents  Make exploratory phone calls  Call on a trusted network of professionals  Use the “Checklist for Finding a Receiving Agent” on page 66 Page 65-66

10. CIPS Network Page 67 Find a CIPS Designee at www.Realtor.org/cips-search Find a CIPS Designee at www.Realtor.org/cips-search

11. Find a REALTOR ® Page 68 Find a REALTOR® by location, specialties, field of business, and more at www.realtor.org/rofindrealtor Find a REALTOR® by location, specialties, field of business, and more at www.realtor.org/rofindrealtor

12. The REALTOR ® Organization  NATIONAL ASSOCIATION OF REALTORS®  State Associations of REALTORS®  1300 Local Associations of REALTORS®  Commercial Organizations and Structures  NAR Specialty Membership Sections  NAR National Affiliates  17 Professional Designations, 9 Certifications Page 68-71

13. NAR Global  Cooperating Associations  Ambassador Associations  Allied Industry Councils  President's Liaisons  Regional Coordinators  Local Global Business Councils  www.Realtor.org/global Page 72

14. IHC and IRPF  International Housing Coalition  A coalition for inclusive housing, sustainable cities  http://ihcglobal.org Page 74  International Real Property Foundation  Helps association develop management expertise  www.irpf.org