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Local REALTORS® Complete Course to Become Certified International Property Specialists

Twelve REALTORS® recently finished a week long course to become designated as Certified International Property Specialists (CIPS). The designees, many who are members of the Santa Clara County Association of REALTORS® (SCCAOR), were given hands-on experience focusing on the critical aspects of international real estate transactions.

The classes took place at the SCCAOR Offices in San Jose, California, and focused on the knowledge, research, network and tools needed to globalize real estate businesses. The course was taught by Fanny Chu, a CIPS Instructor and REALTOR® based in San Francisco. She has been teaching CIPS classes since 2007.

“I am so proud of the 12 graduates from SCCAOR that completed the course and became CIPS designees,” said Chu. “These realtors will have a clear edge when it comes to navigating the complex challenges that are faced when working in international real estate.”

 

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CIPS Graduates at SCCAOR (Left to Right): Victoria Torres, Cindy Dalla, Michael Bui, Hilda Ramirez, Qi Cammarano, Mimi Quach, Vendy Chan, Gigi Zhang, Brian Flock, Fanny Chu, Wilma Baltar, Vicky Campos

 

Much of the coursework focused on transnational transactions, which included currency and exchange rate issues, cross-cultural relationships, regional market conditions, investment performance, and tax issues.

The CIPS designation is the exclusive global designation for the National Association of REALTORS® (NAR), the country’s largest trade association. NAR represents over 1.1 million members, but only 3500 real estate practitioners hold a CIPS designation.

Catering to foreign investors is becoming an essential skillset for real estate professionals. According to a recent report on NAR’s website, foreign buyers purchased $102.6 billion of residential property in the U.S. from April 2015 to March 2016, and this number is poised to increase. Foreign buyers accounted for the purchase of 214,885 residential properties, a three percent increase from the previous 12-month period.

And they will typically purchase more expensive homes. According to the same report, foreign buyers purchased properties valued at $277,380, compared to the median price of $223,058 of all U.S. existing home sales.

“With business continuing to becoming a global game, this designation is more valuable than ever,” said Chu. These designees are truly the global real estate professional for today’s global clients.”

For more information on the CIPS Designation, visit www.sccaor.com/international
For more information on upcoming courses at SCCAOR, visit www.sccaor.com/#classcalendar

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City of San Jose’s Web Site Can Be a Valuable Tool for REALTORS®

By Nick Pham, Broker/Owner of PN Real Estate and Planning Commissioner for the City of San Jose

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You can become more knowledgeable as a REALTOR® by tapping into the City of San Jose’s web site. The site provides a lot of great information about the housing market, development projects and even permit projects.

When you are aware of the city’s future development plans, you become more of an area expert.You can better help your clients with their buying, selling and investment decisions.

Every city planning department has a “General Plan” that outlines the future of the city. San Jose’s General Plan Envision San Jose 2040 outlines all the major community strategies, growth areas and land use policies for the entire city for the next 24 years.

The city’s web site also provides land zoning information as well as building permit information. You can simply enter a property address and find out what zone it is in and potentially how the neighboring zoning may affect your client’s decision.

San Jose has seen major development growth since the stock market crash of 2010.   There are many projects, both residential and commercial, sprouting in every neighborhood.

I have learned that by being a resource of information, my clients often reach out to me about their real estate and non-real estate-related questions. This continues to put me in front of them.