Ashley Breunich from Realogics Sotheby's International Realty reports that, "At the conclusion of a five-day Trade Mission to China, the International Real Estate Federation – U.S. Chapter (FIABCI-USA) and the China Institute of Real Estate Appraisers & Agents (CIREA) agreed to form a Permanent Select Committee on doing business between the United States and China. A group of nine real estate professionals from across the US completed a Trade Mission to China on July 6, 2014. The mission included attending CIREA’s annual real estate agents conference, visits to some of the largest real estate brokerages in Beijing and attending an elective course for FIABCI’s International Real Estate Consultant (FIREC) designation.
Capital flows from China to the US continue to grow. The FIABCI-USA delegation was headed by President Edward Alford from South Hadley, MA. “I am extremely honored to have led this group of high-caliber real estate professionals to Beijing and was overwhelmed by the gracious hospitality of our CIREA hosts. I felt it necessary to assure our hosts that we were interested in mutual cooperation over the long term and welcomed the opportunity to formalize our intent through the formation of a select committee.” The residential market in China is currently undergoing a 30% contraction in sales and there is great concern about how this will affect the overall economy.
Image Courtesy of RSIR
In addition to President Alford, the FIABCI-USA delegation included President Elect Ruth Kruger from Aspen, CO; Treasurer Maire Rosol from Park City, UT; Vice-PresidentElizabeth Davidson from Kirkland, WA; Nancy & Peter Suvarnamani from Chicago; Dano Sayles from Hawaii, John Krolick from Incline Village, NV; and Secretary General Bill Endsley from Chicago. The delegation enjoyed sightseeing trips around Beijing and numerous sumptuous Chinese meals with potential new partners and the staff of Beijing Orient US-China Consulting Co., Ltd. which facilitated the Trade Mission.
FIABCI has welcomed over 150 real estate professionals from China as members over the last year and expects to grow significantly as additional groups of Chinese professionals complete FIREC training courses in doing business abroad, ethics, negotiation, financing and valuation. FIABCI provides access and opportunity for real estate professionals in more than 60 countries interested in completing cross border transactions.
The International Real Estate Federation – US Chapter (FIABCI-USA) is a multi-discipline, networking organization for all professionals associated with real estate transactions. The group provides information, connections and concierge services to help individuals, companies and associations expand their global networks. With members in more than 50 countries and World, Regional and National Congresses throughout the year, FIABCI is global, local and connected and can provide access to the highest caliber real estate professional anywhere in the world. FIABCI also enjoys Special Consultative Status with the Economic and Social Council of the United Nations.
For more information about FIABCI-USA, click here."