The global real estate business market is an important part of the real estate profession. The Nevada REALTORS® Global Business Committee is committed to providing information on education, resources and opportunities for global business for Nevada REALTORS® members.
The Nevada REALTORS® Global Business Council learned last week that it had been awarded the 'GOLD Award' from NAR's Global Achievement Program. This marks the second-consecutive year Nevada REALTORS® has earned the Gold honor. In 2016, the first year Nevada's state association applied for global recognition, it earned the 'Silver Award,' meaning NVR's GBC has been honored three straight years for its promotion of global real estate efforts.
"I am pleased to inform you that due to all your hard work with your council this past year, you have been awarded the GOLD Global Achievement Program Award!" said Lisa Calarco, NAR's Manager for Business Development and Outreach and Global Alliances. "The councils around the U.S. have set the bar very high this year and you should be extremely proud of your efforts to bring the global marketplace to your members!" NAR's Global achievement has four tiers of awards, starting with Silver, Gold, Platinum and Diamond, which is for associations that have earned Platinum five years or more in a row. In 2017, Nevada REALTORS® was one of just three state associations to earn the Gold award or better.
Click on the image above to see the report
What $1 million buys in real estate around the world
A million dollars doesn't buy what it used to — especially when it comes to luxury real estate. The Wealth Report, from London-based real estate brokerage Knight Frank, measured the top markets in the world and compared how much prime property $1 million would buy in each.
Monaco still reigns as the most expensive for top-tier property. For $1 million, you can only buy 16 square meters there, about 172 square feet — the size of a respectable walk-in closet. Hong Kong ranked as the second most expensive market, with $1 million buying about 236 square feet. New York ranked third, nabbing about 270 square feet.
The report highlights how global growth has lifted the fortunes of the wealthy and hiked luxury real estate prices in the top cities. "2017 was a year when the economic stars aligned and relatively healthy growth was seen across most markets," the report said. Indeed, almost all of the cities have become more expensive over the past year. In Monaco and New York, $1 million buys 1 less square meter than it did a year ago. In London, which ranked fourth, $1 million buys 28 square meters, 2 meters less than a year ago. Read the complete CNBC story here.
Have you ever wondered how to capitalize on the tradeshows and conventions that visit our state annually? One way is to host an Inbound Trade Mission. In simple terms, organize a real estate tour of your local area and highlight property you believe the participants would appreciate - and potentially think highly enough of that they’d consider relocating. For our local and state Global Business Committees, inbound and outbound trade missions are paramount to learning about all kinds of real estate opportunities.
Planning a trade mission is easier than you may think. Here is a brief outline of the GLVAR process but of course, you can customize and scale this to your specific situation, organization or business. The first step is to create work groups by asking committee members who may be interested in participating. Completing an interest form is an easy way to identify these. Secondly, once all interest forms are submitted, a date and time is established for the work groups to meet. From there, planning can begin. Read more here.
GLVAR is co-hosting a trade mission (with Southern California's Orange County REALTORS) to China March 19-28. If interested, you can learn more at ChinaTradeMission.org
GLVAR hosts its Global Business Committee meetings from 10 to 11:30 a.m. on the third Wednesday of each month -- 2/20, 4/17, 6/19, 7/17, 8/21, 9/18, 10/16, 11/20, 12/18.
*3/20 meeting canceled due to China trade mission, 5/15 meeting canceled due to NAR midyear conference in Washington, DC
GLVAR's annual Global Day is scheduled for Tuesday April 30. More details coming soon.
RSAR will be hosting its Global Power Hour (11 a.m. to noon) and GBC meetings (noon to 1 p.m.) on the following dates -- 2/21 (England), 4/18 (Canada-Toronto), 6/20 (Hong Kong), 8/15 (Japan), 10/15 (Economic Forum), 10/17 (Dubai), 12/19 (Belize).
NATIONAL ASSOCIATION OF REALTORS GLOBAL BUSINESS
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