Every year, the composition of the companies and the business they conduct in the Research Triangular Park are becoming more and more global. This globalization leads to a constant influx of people from countries all over the world to this region, not only for work, but also for life and for raising families. Thanks to this rapid growth of international cultures, people in this region suddenly appear with endless investment capital from different countries. They not only buy houses to live in, but also look for investment opportunities for investment. Are Triangle REALTORS knowledgeable enough in international real estate to help these investors fully and profitably? Do our agents know about differences in US tax laws and IRS statutes when they apply to foreign non-residents and their property ownership in the US? A word of caution - both for an international client, and for a professional REALTOR. International real estate is a completely different and complex business with potential financial problems when they are practiced by those who are not familiar with the laws that affect these purchases.
RTP has been a catalyst for international growth in North Carolina for many years. In the "Triangle" there are about 100 companies with international corporate headquarters or offices located in foreign territory. This is truly the World Trade Zone. Recently, Raleigh was recognized as "one of the ten most international cities" in the United States, where more than 87 foreign languages are spoken in the area. In addition to the drawing of the Triangle, the region with nine counties, which participates in the bulk of the local real estate market, contains one of the fastest growing Latin American populations in the country. This blending of people and cultures creates a common basis for sharing resources and creating opportunities for local industries, not least of which is the real estate industry. With some exceptions, each REALTOR in this area either sold the property to a foreign client, or had a list of properties that were sold to another REALTOR to a foreign client. International growth and diversity of cultures make up a significant part of the range, along with educational resources, economic health, cost of living and a temperate climate, which invariably keep the Triangle as one of the nations “Ten places to live”. "
One of the many responsibilities of REALTOR as a professional should be informed. Their job is to share knowledge and information with consumers and the general public. They should be authoritative in schools, churches, shelters, day care, help, new construction, old construction, mold, mold, radon, asbestos, well water, sewer systems, traffic problems and many other items of disclosure. Why not acknowledge that REALTOR should be an authority on an international real estate transaction and the nuances of US tax law regarding foreign customers? To enjoy the financial benefits and rewards of the local international market, REALTORS must train them in this arena because it becomes a large and viable segment of the triangle market. Fortunately for the local real estate community, many resources are available through both the NAR and the Raleigh Regional Association of Realtors.
More than eight years ago, the RRAR Board of Directors, with insight and progressive thinking, created a special committee to study the creation of the International Board of REALTORS. Since then, this Council has emerged and grown to 45 active members. The International Council of Realtors Triangle or TICOR serves as a resource not only for realtors, but also for the public, bringing together the cultures of the triangle, offering educational opportunities through printed materials, seminars and classes. They seek not only to educate themselves, but also to include others who share their interests. Their diverse activities include participation in the Raleigh International Festival, other cultural festivals and two-month lunches with presentations by international lawyers, mortgage lenders, representatives of the state government and various chambers of commerce.
With the approval of NAR, TICOR conducted CIPS sessions on four different occasions with participants from a country like Northern Virginia and Washington State. Another CIPS course is scheduled for October this year and is sponsored by TICOR at the RRAR Board office. CIPS is a design from NAR, which means Certified International Property Specialist. This is achieved through classroom work and testing on five different courses of materials and subjects related to finance, international real estate, globalization, and five thematic regions of the world. Thanks to the efforts of the International Council of REARTORS RRAR Triangle, CIPS has more clarity than any other council in North Carolina.
REALTORS in the Research Triangular Park are most happy to live and work in such an exciting and profitable market. To have such a national high position as one of the "dozens of cities" in many categories, and the recognition of such an international center of activity is a privilege. With the privilege of taking responsibility. REALITIES Triangle communities should not only be aware of the need to be informed and educated about the intricacies of the international market and their clients, but also act on this need, using the available resources to get the necessary education for vocational training.
For information on the International Council of REALTORS Triangle, we invite you to visit our website, located at www.triangleinternationalcouncil.com, or contact RRAR, the Regional Association of Realtors in Raleigh at 919-654-5400.
