Florida Realtor April 2011 : Page 19

Bahama Mama. Your Florida license does not allow you to nOW sell real property in the Bahamas. You must have a license issued by the Bahamas Real Estate Association (BREA), YOu KnOW which is diffi cult to get as one of the many qualifi cations to be licensed by BREA is that the applicant must be a Baha-mian citizen or the holder of a permanent residency permit with the right to work. According to Bahamian laws, it is illegal for a person to sell real property in the Bahamas without a license issued by BREA. Licensed real estate professionals from other countries can, however, refer business to licensed Bahamian real estate professionals by executing a referral con-tract that would allow a referral fee to be paid for a successful transaction. ferent cities in Germany to Florida, es-pecially to Miami and Fort Myers,” says Sven Johns , CEO of Immobilienverband Deutschland (IVD) , a German real estate association. “That accessibility is very important for second-home buyers.” 6. understand foreign business practices. Real estate practices diff er from country to country and region to region. Don’t as-sume that a foreign buyer—or a referring international agent—understands U.S. representation, licensing, commission and referral practices. “In some coun-tries the full commission is less than a re-ferral fee from a U.S. agent,” says Fuentes. “Therefore, you need to be sure that [the referring] agent understands the value of providing a buyer who’s actively looking at Florida real estate.” From the Euro-pean perspective, Jűrgen Schick , fi rst vice president, IVD , points out that Germany does not have a Multiple Listing Service (MLS). “It’s helpful for Florida profes-sionals to learn about how other markets work and to explain the U.S. system.” 7. earn a cIPS designation. One of the best ways to boost your creden-tials and networking opportunities is to become a Certifi ed International Property Specialist (CIPS), according to Francisco Angulo , broker, CENTURY 21 United Properties Inc. , Weston and Miami Beach. “This is the way to connect with like-minded global professionals,” he says. 8. tap nAR’s global alliances. To help its members, Florida Realtors plays an active role in the international market (see “How Florida Realtors® Helps!” on page 20). In addition, the National Association of Realtors (NAR) maintains formal relationships with more than 80 real estate associations around the world, creating opportuni-ties for referrals and business partner-ships. Visit realtor.org/global for the list of countries and representatives. You may be able join a foreign real estate or-ganization like IVD and take advantage of those opportunities for networking, adds Johns. 9. Promote yourself eff ectively. From websites to email to social net-working, Florida real estate profession-als have a host of online tools available to promote their services overseas. Colorful display ads in local visitor magazines or classifi ed ads in foreign newspapers can also be eff ective marketing tools. For ex-ample, you can advertise in the U.K. mag-azine A Place in the Sun . Silver says, “Go to Facebook and become friends with in-ternational agents. Most countries have sites like craigslist which off er free on-line ads.” 10. become a Florida expert. Building an international prospect list or referral base takes time. Therefore, Tan emphasizes, it’s important to provide lo-cal market information to international buyers and agents through a blog, news-letter or email updates. “Don’t just send them details on property,” she says. “Tell them what’s happening in the market. You should also give information on property management options for absentee owners, U.S. taxes on rental income from proper-ties, and immigration trends and issues.” Johns agrees with that strategy. “By giving a German real estate agent more informa-tion about the city and area, you can make that agent a specialist for your community as well,” he says. We created the 100% commission concept back in 1965. Now we have thousands of Real Estate Executives and hundreds of offices in more than 24 countries worldwide. We have many Agent opportunities offering new technology and state of the art resources. We also have Exclusive Franchise Locations available throughout Florida. For more information contact Tom Esdale Toll Free: 1-888-540-5300 TomEsdale@RealtyExecutives.com www.RealtyExecutivesSouthernRegion.com April 2011 FLORIDA REALTOR 19

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