Bringing the World to the South Bay

Brian Summerfield, CIPS

Manager, Business Development and Outreach

NAR Global

“Are you ready to rock, South Bay?”

Global in U.S. Real Estate: By the Numbers

A few key stats: $71 billion: Annual average of total foreign purchases of

U.S. residential property over the past three years

40.1 million: Total foreign-born population of the U.S. 63: Percent of foreign buyers who used cash to purchase

a U.S. residence in the year ending March 2013 $354,193: Median price of U.S. home bought by a

foreign consumer

Source: NAR Research

Key research includes: Profile of International Home Buying Activity State-by-State International Business Reports Local Market Assessment Case Studies Most-searched cities on realtor.com/international

NAR Resource #1: Research

NAR Resource #2:News & Information

Where can you get up-to-date info on global real estate and business trends?

The Global View blog: theglobalview.blogs.realtor.org

realtor.org/global – our online hub for industry news, research, directories and more

NAR Resource #3: Education

Certified International Property Specialist (CIPS) Five classes, including two core courses Can be taken in-person or online Also requires earning points and completing an application

NAR Resource #3: Education

Benefits of CIPS Come away with an understanding of the challenges and issues encountered in global transactions Receive a quarterly newsletter, Global Perspectives, that covers current trends in international real estate Connect with more than 2,000 other CIPS designees from around the world

NAR Resource #4: realtor.com international

1 million international visitors per month Currently has more than a million and a half

international listings spread across 37 countries Offers translation services for 11 languages Easily converts currencies and units of measurement

NAR Resource #5: Partnerships

Cooperating Associations: More than 80 NAR partner organizations in nearly 60 countries

International REALTOR® Members: Approximately 5,000 in more than 50 countries

President’s Liaison and Ambassador Association programs

NAR Resource #6: Events

Learn and connect at these sessions at NAR’s major events: International Night Out (Conference & Expo only) International Welcome Reception Global Business Alliances Committee State and Local Forum on Global Business And more!

NAR Resource #7: Support

NAR Global supports global programs at state and local REALTOR® organizations by: Assisting with strategic direction and business planning Sharing best practices Promoting and participating in events Providing advice on tactical initiatives (e.g., online communications, trade missions, etc.)

Global Opportunities in the South Bay Area

Global Opportunities in the South Bay Area

Proximity to LA:

Adjacent to (and possibly includes) LAX Approximately 10-15 miles southwest of downtown LA About 15-20 miles south of Hollywood Around 20-25 miles west of Anaheim

Global Opportunities in the South Bay Area

Port of Los Angeles:

Busiest in the U.S. by container volume and total value of goods Nearly $300 billion in cargo in 2013 Top five importing countries: China/Hong Kong ($136 billion), Japan ($40 billion), South Korea ($16 billion), Taiwan ($12 billion), Vietnam ($11 billion)

Global Opportunities in the South Bay Area

Oil Refining

Name a major oil-producing corporation. Chances are, they’re refining petroleum in South Bay.

Global Opportunities in the South Bay Area

Manufacturing:

Toyota and Honda’s U.S. headquarters (Torrance) Mattel’s corporate headquarters (El Segundo) Front office of the Los Angeles Lakers (El Segundo)

Global Opportunities in the South Bay Area

Aerospace:

LAAFB: Space and Missile Systems Center Lockheed Martin, Boeing, Northrop Grumman and Alcoa all have substantial manufacturing facilities in the South Bay

Global Opportunities in the South Bay Area

Immigration and Foreign Culture:

A hotbed of Korean immigration: Tens of thousands of ethnic Korean residents and thousands of Korean businesses Historically a home for Japanese Americans Largest Samoan community in continental U.S. 90 languages spoken in the 13 school districts

4 Ways to Get Started in Global

Do Your Homework:

Research immigration and international business trends in your area. Talk to colleagues in your market to find out if they’re aware of any global real estate transactions that have happened recently (either their own or someone else’s).

4 Ways to Get Started in Global

Seek Education:

Earn your Certified International Property Specialist (CIPS) designation, which can help you better understand the risks and opportunities in global business. Take a foreign language, international business, or history and culture course at a local college/university or institute

4 Ways to Get Started in Global

Start Networking:

Regularly attend global business council events. If you’re part of the global council, invite non-REALTORS® who are doing international business to attend and speak at events. Attend global forums, committee meetings and networking/social events at NAR’s national conferences.

4 Ways to Get Started in Global

Find Your Focus:

Pick a country (or no more than a few countries) or ethnic group based on both your own interests and local business activity. Figure out the best way(s) to connect with those consumers through marketing and outreach.

Questions?

Connect with the National Association of REALTORS®

Likewww.Facebook.com/NARGlobal

Followwww.theglobalview.blogs.realtor.org

Twitter.com/NARGlobal

www.realtor.org/global