RISMedia's Real Estate Magazine

AUG 2016

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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T his month's stunning cover photo, featuring Berkshire Hathaway HomeServices leaders Gino Blefari, Peter Turtzo and Stephen Phillips, was shot on location in Costa Rica. The setting was chosen to underscore the brand's launch of its two-part international expansion. Phase one—the roll-out of a multilingual, listings-rich website—took place in May. Now underway is phase two: adding "high-quality brokerages abroad that will uphold our network's values and meet its rigorous standards," as Gino says. Worldwide expansion for Berkshire Hathaway HomeServices was part of the brand's plan from the get-go. The larger message of our cover story (pg. 32), however, is the movement toward a global residential real estate market for all of us. Borders are blurring and business opportunities abound—not just abroad, but right in your own backyard. Statistics say it all. According to the National Association of REALTORS® (NAR) 2016 Profile of International Activity in U.S. Residential Real Estate, between April 2015 and March 2016, foreign buyers purchased $102.6 billion of residential property in the U.S., for a total of 214,885 properties. Between this interest from foreign buyers and the increasing diversity in our communities, succeeding in this business path forward requires adopting a global mindset. Doing so starts by simply being open and receptive to other cultures, both in terms of the consumers you serve and the hires you make. There are plenty of resources available to guide your firm toward global business. Tap into the wealth of information provided by organizations such as the National Association of Hispanic Real Estate Professionals (NAHREP) and the Asian Real Estate Association of America (AREAA). Look into NAR's Certified International Property Specialist (CIPS) designation for your sales team. Such resources will prepare you to welcome the world of real estate consumers. Global real estate business will be one of many key subjects discussed during RISMedia's Real Estate CEO Exchange next month at the Harvard Club in New York City. Please contact Randi Vannucchi (randiv@rismedia.com) to see if you're eligible to attend this invitation-only event. We hope to see you there! Wishing you continued success, John E. Featherston CEO & Publisher Beyond Borders—at Home and Abroad B ERKSHIRE HOMESER WEL THE Crowdfunding and Real Estate: What You Need On location at the Four Seasons Resort Costa Rica at Peninsula Papa Gayo: (left to right) Network CEO Gino Blefari; Berkshire Hathaway HomeServices SVP of International Operations Peter Turtzo; HSF Affiliates COO Stephen Phillips

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