Boca Raton Real Estate and International Buyers
June 17th, 2010
RAPB Global Business Alliance Meeting - International Real Estate - Update on Belize and Argentina – June 9, 2010
I attended the Realtor Association of the Palm Beaches’ (RAPB) Global Business Alliance meeting this past week which featured NAR’s President’s Liaisons for Belize and Argentina, and who gave us an update on buying and selling in their countries of specialization. President Liaisons are NAR members and generally CIPS designees (Certified International Property Specialists) appointed by NAR President to serve as his or her liaison to each of NAR’s foreign Cooperating associations.
Global Business Alliance Speakers 6-9-2010
The 2 speakers were Aida Turbow - NAR’s 2010 President’s Liaison to Argentina and 2009 CIPS faculty Chair (pictured 2nd from right), and Robert Lowe – NAR’s 2009 and 2010 President’s Liaison to Belize and the current 2010 Florida Realtor’s Chairman of Global Business Committee (pictured at far left). Also in attendance and speaking to us about his recent trips to Europe and Asia were Tony Macaluso, (pictured at far right) and his wife Nancy Macaluso (pictured 2nd from left).
President Liaisons are NAR members and generally CIPS designees (Certified International Property Specialists), appointed by the NAR President to serve as his or her liaison to each of NAR’s foreign Cooperating associations. There are 50 PL’s that serve 60 countries with 80 associations – most countries do not have the same governing association, such as NAR with its strict real estate ethics, rules and laws. These liaisons work with the associations on setting up these laws, setting up trade missions and visits to and from their countries, and promoting the CIPS designations to these international real estate agents. When buying in these foreign countries it is important to work with a real estate property specialist that works to similar ethical standards as we do and is governed by some rules and laws.
Robert Lowe explained that Belize is seeing a significant increase in business and property investments from the United States and other countries - 250,000 tourists visit Belize each year with 50% Americans and another 14% Europeans. Belize is 2 ½ hours from Miami, and located in the heart of the Caribbean Basin.
Image Courtesy of Darcy McCarty
Belize is a former British colony, English is its official language, and it has a legal system reflecting their membership in the British Commonwealth.
A recent survey by International Living magazine placed Belize among the top retirement havens worldwide. Foreign citizens can apply for classification in a special category for retired persons from outside the country, which provides relief from local taxes on income and import of household goods. Such retirement benefits add to the appeal of a lower cost of living, tropical climate, and close proximity to the United States. You can buy a beautiful home on the ocean for about $250,000!
Aida Turbow has long been instrumental in forging the development of international relations and agreements both in bringing buyers to the United States and providing opportunities for investment abroad. She brought us up-to-date on the latest initiatives of NAR to expand the agreements and organizations so they can further develop agents who adhere to stringent ethical practices.
Image Courtesy of Jonathan Hamner
International visitors to Florida have continued to increase, according to the most recent NAR study in January 2010, about 5 million international visitors came to Florida in 2005 and 2006, about 5,367,000 in 2007 and 5,391,000 in 2008. The top destinations for international visitors to the US were Florida with 23%, then California with 13%, Texas with 12% and Arizona with 8%. There were 80,000 international transactions in Florida last year and 50-60% of them pay cash.
Tony Macaluso has a wealth of information on the international market and a long history of awards and honors participating in NAR’s organizations and teaching the international CIPS designation courses in the US as well as in other countries abroad. He spoke to us about his recent trip to Eastern Europe and Asia teaching the CIPS courses, and how sophisticated and technologically savvy these real estate specialists and their countries are. In South Korea he taught the CIPS course and in the other countries of Japan, Romania, Bulgaria and Ukraine he taught a course on real estate code of ethics and agency, and how to do business with Realtors® in the US.
Nancy Macaluso has also been involved as an officer or director of many of our local, Florida and National real estate organizations, including Women’s Council of Realtors and was 2009 President’s Liaison to South Africa.
The Global Business Alliance of the Palm Beaches (GBAPB) is the international division of the Realtor Association of the Palm Beaches (RAPB) that promotes opportunities for networking, education and informational events, exposure to trade missions and the international market, and focus on the CIPS courses and designation.
Visit our Market Trends page for more info on international market statistics, and the Tools page for helpful tools for foreign exchange and mortgage calculations.
For information on the Boca Raton Real Estate market, South Florida area, or more information on Belize, Argentina or any other international country, please call or text me at 561-866-2927 or send me an email!
For further information on NAR’s Global Business Alliances - President’s Liaisons, Cooperating and Ambassador Associations visit -
* NAR Global Business Alliances Home Page
* Global Alliances - info on President’s Liaisons, and Cooperating and Ambassador Associations
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