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REALTOR®: Silicon Valley REALTORS® Receive NAR Platinum Award for Global Real Estate Program


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Wednesday, November 13, 2013

SILVAR President Carolyn Miller and Executive Officer Paul Cardus received the NAR Platinum Award from Nancy Suvarnamani and Furhad Waquad, 2014 and 2013 chairs, respectively, of the NAR Global Business and Alliances Committee.

The Silicon Valley Association of REALTORS® (SILVAR) received a platinum award for its 2013 Global Business Council Achievement Program at the REALTORS® Conference & Expo held in San Francisco Nov. 8-11. The local trade association representing over 4,000 REALTORS® and affiliate members engaged in the real estate business on the Peninsula and in the South Bay, was one of a number of groups to be honored as Silver, Gold, and Platinum Councils by the National Association of REALTORS® (NAR).

Global business councils are groups within NAR's local board structure dedicated to globally themed education, programming, and networking for their members. Of the over 100 existing global business councils, only five were awarded Platinum Council status, the program's highest distinction, for having demonstrated exceptional commitment to building members' awareness of the global and multicultural business opportunities in their local markets.

Foreign interest in U.S. properties has been growing. For the 12 months ending in March 2013, total international residential sales amounted to about $68.2 billion. California was second after Florida in attracting international buyers and accounting for 17 percent of all foreign purchases. Five countries have historically accounted for 53 percent of transactions - Canada (23 percent), China (12 percent), Mexico (8 percent), India (5 percent) and the United Kingdom (5 percent).

"Silicon Valley has been a top choice among foreign buyers. For our REALTORS® to stay competitive in both residential and commercial markets, they need to be familiar with international real estate issues and practices. Our association strives to provide members tools they can use to be successful when dealing with clients here and abroad," said SILVAR president Carolyn Miller.

Miller added that the valley has an edge because of its rich diversity, great weather, strong economy and excellent educational institutions. "For many foreigners, California is close to their home country and many have relatives already living here. The job opportunities in Silicon Valley are fantastic. For many foreigners, education is a premium and they want to educate their children in our good schools and colleges," said Miller.

To help members reach out to global clients, SILVAR formed a global business council in early 2012, which took a lead in planning global programs, hosting global education courses, and building awareness among members of international business opportunities. In the past year, SILVAR offered two Certified International Property Specialist Institutes, attended by REALTORS® across the country. Upon completion of the week-long courses and other requirements, 43 attendees earned their CIPS designation – 32 were SILVAR members. Both CIPS Institutes were taught by NAR International Instructor of the Year for 2012 and 2009, David Wyant.

SILVAR has also offered NAR's At Home with Diversity certification course, EB-5 Visa workshop and other global programs. In December 2012, SILVAR hosted a delegation of Chinese government officials seeking to learn more about Silicon Valley's real estate market. The association was recently appointed NAR Ambassador Association to the Philippines.

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The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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