I just returned from last week’s NAR Convention and my Global Business and Alliance Committee meetings in Anaheim, CA. It doesn’t matter how many years you may be involved in the industry, there is always something to learn and absorb as well as refreshing one’s knowledge to clear out the cobwebs and go over information and topics pertinent to your business.
With the advancement of new technology and applications, especially with the assistance of AI, this will have a major impact on all facets of life, especially business. Simplifying one’s daily routine with the use of cutting-edge applications along with old-fashioned service and keeping in contact with clients on a regular basis allow one to do business in a much more streamlined and efficient manner.
Participating in NAR Conventions, being involved on committees and seeing what others are doing around the country adds to the repertoire and stock of skills to compliment and service clients in the most professional and transparent fashion. Listening to and observing professional speakers provided updated and important information on the current market; it reinforced information about our market conditions as well as producing ideas and solutions to keep business profitable. Networking with Realtors locally and across the globe also keeps us abreast of how other cultures work in the business and it creates some solid connections for future business.
Canada, Mexico, and China are the top three countries from which foreign nationals purchase U.S. real estate. The main reason has been the lucrative atmosphere over the last few years as rental prices have increased and the safety of their investments, especially of single-family homes in suburban locations. I have been making those connections with agents and clients from those countries, enabling me to expand our reach with international purchasers.
I have learned that mortgage rates to purchase real estate in The Netherlands, France, Italy, Switzerland, Ireland, Germany, and many other countries are much lower than in the United States from 2.51% to over 4%. This makes the cost to purchase very desirable. However, one must do their due diligence to make a logical determination as to the safety, future appreciation, and total costs as a foreign national.
When relocating to another country or even within the United States, the connections and relationships that we have gained over the years have gone a long way in assisting clients, especially those looking for a vacation or retirement home. Attending these yearly conventions enables us to learn the ins and outs of relocation and establishing long-term associations and alliances with others in the industry.
We have also established through our local and National Global Committees a multitude of MOUs (memorandums of understanding) with countries around the globe. It is a somewhat formal agreement but not a binding contract for a common line of action between two countries when doing business with one another. It is a road map of each party’s duties and requirements. It makes the association with each other a stronger and more beneficial pact in knowing that each entity can depend on each other for assistance.
Long-term personal and business friendships and associations can be gained by attending these conventions. When one travels to other countries, this enables attendees to visit those established connections attained over the many years on a more personal level. This can only enhance one’s life by having those most important relationships.
Lastly, real estate conventions also provide a break from the daily business routine and allow one to escape to another location to meet and greet others in the industry. This also provides a certain recharge of one’s battery as there are nightly parties and gatherings.
This year Angel Stadium provided a huge outing for all Realtors. Various choices in food, music and entertainment were provided. One could even try throwing a ball as fast as possible in competing with other agents. It involved stepping up to the plate in the batting cage and hitting a ball to see how good our skills were.
These are reasons to attend these conferences and to gain an edge in adding to your knowledge and being able to absorb new ideas and concepts in running your business. The camaraderie and excitement for the event were memorable and I look forward to the Boston event in November 2024.
Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. For a free 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by email: [email protected] or via https://WWW.Li-RealEstate.Com