REMI Marketing Tip of the Week Comes from NAR Institute

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The Real Estate Marketing Insider announces its Marketing Tip of the Week, which comes from a five-day institute sponsored by the National Association of Realtors.

The Real Estate Marketing Insider reported on the National Association of Realtors Certified International Property Specialist Institute, which was held last week at the Silicon Valley Association of Realtors in Cupertino; REMI also announced that one of the teachings from the Institute, that realtors should think “glocally,” was named their Marketing Tip of the Week.

The National Association of Realtors Certified International Property Specialist Institute, which took place last week, attracted 34 real estate professionals from around the country. Attendees included many local Silicon Valley agents, but also attracted realtors from Souther California and even from the east coast. The week centered around classes taught by David Wyant, a celebrated Florida-based NAR member. Mr. Wyant’s teachings are well-respected; since 2009 he has twice been named the NAR’s International Instructor of the Year.

The Certified International Property Specialist Institute (CIPS) is designed to introduce agents who mostly work domestically to principles surrounding international real estate practice; the markets in Europe, Asia, and South America are different from domestic markets and have their own issues for realtors to consider. CIPS Institute attendees examined legal/tax issues, currency conversion, cultural awareness, and other important issues for internationally-dealing agents. While all agents can benefit from such a curriculum, it’s of prime concern for Silicon Valley realtors, where the weather and proximity to outdoor recreation for all seasons make it attractive for international buyers’ second homes.

One bullet point from the conference can be taken to heart by any realtor, though: Mr. Wyant advised conference attendees to “think glocally.” “Glocally,” a portmanteau of “global” and “locally,” means tailoring one’s practice to the culture and area in which they’re working. It’s the antidote to a “one size fits all” approach to real estate, and emphasizes cultural sensitivity, awareness of economic and social differences, and other concessions. “Prospecting “glocally” requires awareness, knowledge and outreach,” Wyant said during the conference.

Whether or not agents are planning to try to break into international markets, thinking “glocally” is important. Marketing real estate online means that every agent is an international agent; any international buyer can find your website and ask for your services, whether or not you’re actively advertising to them. International buyers often pay cash, and agents who are prepared can reap huge commissions. Thinking “glocally” means being informed about international customs and culture, and for realtors in areas that might attract international buyers -- New York, Miami, Seattle, and many others -- it’s a great idea to start now and be prepared should you be contacted by a foreign buyer. The advice to think “glocally” is important for realtors of all stripes, and that’s why REMI has named it the Marketing Tip of the Week.

The Real Estate Marketing Insider announced its Marketing Tip of the Week: “think glocally.” The phrase comes from the recently concluded National Association of Realtors Certified International Property Specialist Institute, and was advanced by Institute director David Wyant.

About the Real Estate Marketing Insider: REMI is an online journal which provides real estate professionals with hot tips, breaking news and market analysis. REMI is based in La Jolla, CA.

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