The National Association of Realtors recognized the Arcadia Association of Realtors with a Gold Award for its 2013 Global Business Council Achievement Program at the 2013 REALTORS Conference & Expo in San Francisco.
Global business councils are groups within the local board structure of the national group dedicated to globally themed education, programming and networking for their members.
Of the more than 100 existing global business councils, only six were awarded Gold council status. The award is given for having demonstrated exceptional commitment to building members’ awareness of the global and multicultural business opportunities in their local markets.
Interest in U.S. properties has been growing. For the 12 months ending in March 2013, total international residential sales amounted to about $68.2 billion, with California second after Florida in attracting international buyers and accounting for 17 percent of foreign purchases.
To help members reach out to global clients, the local association, which represents more than 2,000 Realtor members engaged in the real estate business, formed a global business council in 2003. It took a lead in planning global programs, hosting global education courses, and building awareness among members of international business opportunities.
In the past year, AAR offered a week-long Certified International Property Specialist Institute (CIPS), EB-5 Visa classes, attended trade missions in Hong Kong and Singapore, respectively and hosted other global education programs. The association was also recently appointed NAR Presidential Liaisons to Bulgaria, Hong Kong and Singapore.
“The San Gabriel Valley, especially Arcadia, has long been a top choice among foreign buyers. For our Realtors to stay competitive in both residential and commercial markets, they need to be familiar with international real estate issues and practices. AAR seeks to provide our members tools they can use to be successful when dealing with clients here and abroad,” said Andy Bencosme, 2014 President of AAR.
Also during this year’s conference, which was held in San Francisco Nov. 8-11, more than 20,000 attendees from across the country and all over the world engaged industry leaders and federal officials about legislative priorities, and the obstacles and opportunities facing consumers, the real estate market and the economy.
“As Realtors from across the globe come together, we are optimistic about the future of home ownership and the real estate industry. We are committed to ensuring that housing markets continue their forward momentum,” said NAR 2014 President Gary Thomas.
Former Secretary of State Hillary Rodham Clinton, the keynote speaker at the conference general session, pledged her support for home ownership. “One of the key elements of what it has meant to be an American is owning your own home,” said Clinton.
Regarding national conversations on how to remake the economy, Clinton said she is hopeful the country can “get back to putting the common good ahead of personal and political interests and find ways to bridge the divide,” and “do no harm or make life harder for middle class families.”
NAR is actively advocating public policies that promote responsible, sustainable home ownership and a stable housing market; ensure that reforms to the Federal Housing Administration do no harm to consumers’ access to safe, affordable financing; preserve property and home ownership tax policies, such as the mortgage interest deduction; and restructure the secondary mortgage market with a government guarantee and a strong private market.
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