SILVAR's 4th CIPS (Certified International Property Specialist) Institute ended on Tuesday. This year's Institute had a total enrollment of 31 students. SILVAR welcomed back instructor David Wyant and his wife and assistant Patsy Wyant.
This year's students were a very diverse and well-traveled group from all over the Bay Area, Southern California and Arizona. Once the students complete and submit their CIPS applications to the National Association of REALTORS®, they can receive their CIPS designation and get pinned at the NAR Conference and EXPO, which will be held in San Diego November 13-16.
A highlight of the last day was a visit by Joe Schneider, NAR manager of Global Business Development and Outreach. Schneider spoke to the students about the value of the CIPS designation, especially in Silicon Valley, which continues to attract many international buyers.
At the end of the last course, SILVAR's Global Business Council hosted a CIPS Reception, which was also attended by SILVAR CIPS designees, who shared their global real estate experiences with the students. Jennifer Tasto, NAR Liaison to the Philippines, also reported on the International REALTOR® Conference held in the Philippines and NAR's project to build a REALTOR® village for Super Typhoon Hainan victims there.
The success of this year's CIPS Institute would not be possible without our generous CIPS Sponsors of the Day. Each sponsor had very informative presentations.
Darrell Monda, owner of TourFactory Bay Area, took students on a virtual tour of homes, a platform that works as a very good marketing tool, especially for foreign buyers who cannot physically be at a property they are interested in purchasing. TourFactory has certified aerial photographers and is the only company in Northern California that has a waiver from the FAA to use drone photography in its business.
The students enjoyed Kyle Chuang's presentation, which included tips on how to take a multiple choice exam, a requirement at the end of each class day. Chuang, who is with Farmers Insurance, also tested students on home insurance information helpful for their clients.
Janet Case, CEO of Proxio, introduced the REALTORS® to the international networking platform that links REALTORS® and their listings with other agents around the world, including real estate developments. Proxio translates listings in 19 languages, 55 currencies and metric measurements. Case said studies show 20 percent of U.S. families do not speak English at home. In California, the percentage is higher – 43 percent. Proxio is a free benefit for SILVAR REALTORS® who are members of MLSListings Inc.
Kenneth Chan, premier mortgage consultant with HSBC, focused on how foreign buyers who don't fall under the 2-2-2 rule (provide a two-year U.S. residency, two-year work history and two-year credit history) can qualify for a mortgage loan, other obstacles foreign buyers face, and success stories.
Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc., educated the students on foreign currency exchange and SBPI Services' captive insurance program, which enables Chinese investors to take millions of dollars out of China and invest the money from the policy in real estate.
According to the NAR CIPS Designee list, of 353 CIPS Designees in California, 43 are SILVAR members, majority of whom attended a CIPS Institute at SILVAR. Before the CIPS Institutes were conducted at SILVAR, only six SILVAR members had obtained the CIPS designation.
The Wyants described REALTORS® in Silicon Valley as among the most intelligent, educated and experienced in the country. Returning for the fourth time to Cupertino, they observed changes, like more cars on the road, more traffic, fewer vacancies in hotels – all signs of a booming economy.
"There is job growth here, you can see it. It is likely to continue for a long time," said David Wyant.
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.
For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.