The HAR International Advisory Group hosts International Day each year. The purpose of the course is to educate members eager to learn about global real estate and to explain how they can get involved in this growing niche market.
This year’s event is Thursday, September 5 at the Post Oak Conference Center. Registration opens at 9 a.m. and the class starts at 10 a.m. Lunch is included with a reception to follow. You will receive six hours of CE credit for a $49 investment. Parking is available at the Post Oak Conference Center in Garage 3 for $5. Enroll at har.com/edu.
An overview of the national, state and local real estate economies will be shared as well as the buying patterns of foreign buyers of Texas residential real estate. Case studies on working with overseas clients as well as the latest immigration laws pertaining to owning U.S. property will be examined. Other topics include FIRPTA laws and how they legally affect the REALTOR® involved in the transaction and locating financing options for your global clientele.
According to NAR Global, the term international or foreign client refers to two types of clients:
Non-resident foreigners (Type A): Non-U.S. citizens with permanent residences outside the United States. These clients typically purchase property as an investment, for vacations, or other visits of less than six months to the United States.
Resident foreigners (Type B): Non-U.S. citizens who are recent immigrants (in the country less than two years at the time of the transaction) or temporary visa holders residing for more than six months in the United States for professional, educational, or other reasons.
Using this definition of who an international client is, it is most likely you have worked with foreign clientele and may not have realized it. Currently, more than 7,000 HAR members are enrolled in the searchable Member Finder Database that speak another language. Texas property listings can be translated into six other languages for consumers to search for homes in their language of choice. Global real estate transactions are growing in number in the United States, especially California, Florida and Texas. Be sure to register if you are interested in learning more about international real estate.