Event Coverage
REALTORS® Learn About Going Global
SILVAR members and guests from around the country on Wednesday learned about doing business globally from National Association of REALTORS® Certified International Property Specialist (CIPS) instructor Christel Silver at the Global Business Council virtual presentation, "Go Global & Explore Germany." Silver, who is a Florida REALTOR®, is also NAR's Global Ambassador to Germany and Austria.
Silver said since the pandemic has forced people to spend more time at home, now is a good time to learn about global real estate by taking courses to earn the NAR CIPS designation. This way REALTORS® who want to expand their business internationally will be prepared once countries open their doors again.
If REALTORS® are going to compete in the global market, they should learn about other countries and what is happening internationally. She said it is not necessary to learn another language, but surrounding yourself with a CPA, attorney, inspector, banker, who speak the language of your foreign client would be beneficial.
REALTORS® can find potential foreign clients by joining international organizations or clubs in your community. "Don't just become a member; participate in their activities and get to know their members," said Silver.
Meet international students at local universities, attend international real estate meetings, join trade missions. Learn about the customs and culture of your foreign client's country, so you can develop a good relationship and not offend them. Silver noted the simple thumbs up gesture means number one in Germany and okay in Korea, but it is an insult in Iran and Afghanistan.
Participants also learned about real estate in Germany. Silver indicated Germans are stoic people who strive for perfectionism. They do not admit faults and rarely give compliments. As a German foreign exchange student in San Mateo many years ago, Silver said she was surprised whenever she would receive compliments.
"I missed that when I returned to Germany," remarked Silver.
While Germany has a national real estate association, it does not have a real estate licensing law. Real estate agents there are highly educated, with college and doctoral degrees. Most agents there are engaged in rentals and property management because Germany is a country of renters - 53 percent of the population rent apartments and 9 percent rent single-family homes. In cities like Munich, Frankfurt, and Hamburg, 80 percent are renters.
In the past, the German buyer paid the agent's commission, but a new law which goes into effect in December 2020 will make payment of commission more complicated for agents. This subject, along with the exchange of money, the metric system, which is used by the world except the U.S. and a few other countries, are other important topics REALTORS® can learn in a CIPS course, said Silver.
Silver congratulated SILVAR for receiving NAR's Diamond Award for Global Achievement. She invited participants to join the Global Business Council and to register for the Asia/Pacific & International Real Estate CIPS elective course that SILVAR is offering on September 22nd.
VIEW SILVER'S GO GLOBAL & EXPLORE GERMANY SLIDES
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 email or call the SILVAR office at (408) 200-0100.