Global Real Estate: Local Markets is the first of seven international courses developed by Global Business and Alliances of the NATIONAL ASSOCIATION OF REALTORS® (NAR). This course is designed to introduce real estate professionals to the basic skills and knowledge necessary to facilitate international real estate transactions. This is the prerequisite course required to earn the Certified International Property Specialist (CIPS) designation.
The course is designed to benefit experienced international professionals, individuals with real estate experience who are considering international specialization, and NAR general membership.
As the first CIPS course, Global Real Estate: Local Markets introduces participants to the unique dimensions of international practice. The course is designed to create an awareness of:
- Globalization of economies
- International capital flow
- Effects of currency exchange on transactions
- Basic principles and trends in international investment
- U.S. regulation of inbound investment
- Cross-cultural relationships
- Diversity and inclusive real estate practices
- Marketing and business planning strategies
- Roles and expectations in international transactions
Earn your CIPS Designation
The CIPS Designation is the only designation of its kind in the real estate community. It's synonymous with advanced expertise, a global perspective and distinct understanding of a global buyer, and comes with powerful brand recognition with designees in nearly 40 countries.
By earning your CIPS Designation, you instantly align yourself with the best in the business, and join our influential network of international professionals. Don't just give your business a global spin; take your business to the global level. The CIPS Designation can also increase your earning potential – on average, CIPS designees earn $50,000 more than non-CIPS designees from real estate sales annually.*Don't miss the opportunity to broaden your business potential. *Applies to U.S. REALTORS only, based on a 2008 member survey.
Step 1: Education
You must successfully complete the 2 core courses and 3 out of 5 elective courses (outlined below), and pass the multiple-choice examination given at the end of each course. To pass an exam, you must earn an 80% or better.
- Core Course: Global Real Estate: Local Markets (1 day) is a required prerequisite to the other courses.
- Core Course: Global Real Estate: Transaction Tools (1 day) is a required course.
- Europe & International Real Estate (1 day)
- Asia/Pacific & International Real Estate (1 day)
- The Americas & International Real Estate (1 day)
- The Middle East and Africa & International Real Estate (1 day)
- At Home With Diversity (1 day)
Step 2: Designation Application
In addition to completing 5 CIPS courses you must submit a designation application demonstrating your experience in international real estate. This application requires that you earn 100 points in elective credits. Elective credits can be earned by speaking other languages, possessing additional NAR designations, attending international conferences and education sessions, and international transactions in which you will be asked to answer specific questions regarding the sales of each transaction. Transactions must involve other cultures or countries, and can include sales in your local market.
Applications can be submitted throughout the year; however they are due by Oct. 1 to be recognized (and pinned) at the REALTORS® Conference & Expo in November. They can be submitted before your coursework is completed. A one-time only processing fee of US$75 is required when you submit your designation application. Once approved, you must maintain your designation dues annually in order to use the CIPS Designation. Annual CIPS Designation dues are US$220.
Download the CIPS application>
Instructor Overview: David Wyant
David Wyant has represented multiple international corporations on every continent. He has lived, bought, sold property and operated his own company internationally. He is able to communicate his experiences effectively and welcomes the opportunity to share his knowledge with other professionals. He began working with real estate professionals in the early 1990's extending technology to individuals and corporations in Florida. He has taught and lectured across the world on topics ranging from marketing and strategy development to international finance and business planning. He is a graduate of the University of Virginia, the Amos Tuck Senior Executive program at Dartmouth, IBM's Senior International Financial Executive School in Brussels, and the Instructor Training Institute.
David serves the NATIONAL ASSOCIATION OF REALTORS® as a faculty member for the Certification as an International Property Specialist (CIPS) and is a Florida licensed Real Estate Instructor and Broker. Service to his local association includes Director, Secretary, Treasurer and President and he was recognized by his peers as REALTOR® of the Year in 2006. He has served as a State level Director and member of the International Operations Committee and the Florida Orlando and Daytona Beach International Councils. He also serves as President of the local Lions Club International and Ambassador for the local Chamber of Commerce.
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You will have access to your course for 12 months from the date of purchase. After one year, the course will expire. No extensions will be given after the course expires; if you do not complete the course during the 12-month timeframe, you will need to repurchase it at full price and start again at the beginning.
Continuing Education Information
Not available for this course.