Every year the composition of companies and the business of Research Triangle Park is becoming more global. This globalization brings a constant influx of people from all over the world to the region, not only to work, but also to live and start families. This rapidly growing area of international culture suddenly has a seemingly endless influx of investment capital from many different countries. They not only buy homes, but also look for Real Zelle for investment purposes. Do Triangle REALTORS know enough about international real estate to assist these investors with thoroughness and expertise? Are our agents aware of the differences between U.S. tax laws and IRS laws when it comes to foreign non-residents and U.S. citizens? Caution is warranted for both international clients and professional NEMS. International real estate is a very diverse and complex business with potential financial difficulties when used by people unfamiliar with the laws affecting purchases.
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RTP has been a catalyst for North Carolina’s international growth for many years.
The triangle is home to about 100 companies with international headquarters or overseas offices. It is indeed a world trade area. Raleigh was recently recognized as one of the ten most international cities in the United States, with more than 87 foreign languages spoken in the region. In addition to a lottery for the Triangle, the nine-district region, which covers most of the local real estate market, has one of the fastest growing Hispanic populations in the country. The mix of peoples and cultures creates a common ground by exchanging resources and creating opportunities for local industries, the most important of which is the real estate industry. With few exceptions, all REAL ESTATE in the region either sold real estate to a foreign client or owned real estate inventory that another REAL ESTATE SALE sold to a foreign client. International growth and diversity of cultures is a great mix of educational resources, economic health, cost of living and temperate climate that sustains the triangle in the top ten places in the country.
One of the many responsibilities of a real estate agent as a professional is to be informed.
Their role is to share knowledge and information with consumers and the general public. It should be schools, churches, shopping malls, day cares, supportive housing, new buildings, old construction, mold, mildew, radon, asbestos, well water, sewer systems, transportation problems and many other public facilities. Why shouldn’t it be that real estate should be entitled to an international real estate transaction and be subject to U.S. law when applied to foreign clients? To enjoy the financial benefits and advantages of the local international market, Landscape must educate itself in this area as it becomes a large and viable segment of the triangular market. Fortunately, there are many resources available to the local real estate community through both NAR and the Raleigh Regional Association of Realtors.
Over eight years ago, the RRAR Board of Directors established an ad hoc committee with foresight and forethought to examine the creation of an international fund for finance. The council has since been established and grown to more than 45 active members. The International Real Estate Council of the Triangle, or TICOR, is a resource not only for the media but also for the public, uniting the cultures of the Triangle through educational publications, seminars and readings. They not only seek to educate themselves, but also involve others who share their interests. Her various activities include attending the Raleigh International Festival, other cultural festivals, and bimonthly luncheons with international lawyers, mortgage lenders, state government representatives, and various chambers of commerce.
With NAR approval, the TICOR group conducted
CIPS classes on four separate occasions, with participants from as far away as Northern Virginia and Washington. Another CIPS course is scheduled for October this year and is sponsored by the TICOR RRAR Board Office. CIPS stands for NAR, which stands for Certified International Real Estate Specialist. This is achieved through class work and examinations in five different content and specialist courses dealing with finance, international real estate, globalization and five individual world regions. Thanks to the efforts of the International Council of Realtors RRAR Triangle, CIPS has more local representatives in North Carolina than any other state government.