ShareForeign investors continue to seek out real estate in the U.S. for market stability and long term positive outcomes. Across commercial real estate sectors, money from around the globe is streaming in to fund developments, buy land, and to make general investments.
In 2016, nearly $200 billion flowed into U.S. commercial and residential real estate, according to research from both NAR and Real Capital Analytics. An increasing number of commercial practitioners are stepping up their game to develop relationships worldwide and position themselves as the expert in their local markets.
As part of its mission to help members be successful in business, NAR continues to strengthen the NAR-USA Pavilion at MIPIM, the world’s largest commercial property event, held yearly in Cannes, France. MIPIM draws more than 24,000 attendees each year from 90 countries, including 5,000 investors seeking opportunities. According to Dan Wagner, 2016 NAR Commercial Liaison, “When people from around the world look at making a real estate investment, the first place they look to is the U.S. because of market stability. As the largest real estate organization in the world, the National Association of REALTORS®’ participation at the international convention is vital for its members’ interests.”
As a benefit to members, NAR negotiates a substantial discount on the event registration fee, saving members hundreds of dollars. The NAR-USA Pavilion serves as a “home” for any NAR members attending, with tables for client meetings, a well-attended reception for networking, and refreshments. Partners have the advantage of kiosks to showcase their markets & local projects. Robin Webb, 2017 President of CCIM Institute commented about the benefit of being a Partner stating “Not only do the most progressive cities and countries from around the globe exhibit, but some of the most prominent thought leaders share insights about future trends, opportunities, and needs in key sectors and regions. The strong CCIM presence reinvigorates business opportunities for CCIM members beyond U.S. borders.”
This year’s U.S. presence created tremendous buzz around the show floor – resulting in greater traffic flow though the NAR-USA Pavilion and almost assuredly generating future business, translating into dollars for members.
“I presented a $40M hotel portfolio at the Tourism & Hospitality Pavilion. The response I got was tremendous with five groups requesting the package! I am currently working with a group from France representing Chinese investors who are seriously reviewing the property. For me there is no question of the benefits of attending MIPIM!”
“I find that in this age of the internet, actual human interactions are more and more effective for sales. Networking opportunities abound at MIPIM. Combine networking with educational sessions providing insight into commercial real estate across the globe, place it all in a beautiful setting on the Mediterranean Sea, and you can’t help but have a great experience.”
“I first attended MIPIM in 2016 and then again this year. The first year opened my eyes to a world of opportunities for the development of my commercial real estate career. I am lucky to have realized early that going every year is what will make the difference to ensure success from the conference verses failure.”
“People have been telling me about it for years, but unless you actually experience it, you cannot fully appreciate the chance to build new relationships through extensive networking opportunities, discuss new deals, and expand your business clientele worldwide. I left with a whole new understanding of the power of the conference. I was able to meet with a client that we have been trying to meet with for some time. Because of that meeting, we were able to finalize a large $50M fund for our seniors housing development platform.”
“Attending MIPIM was a fantastic opportunity to further develop not only my personal contacts but also to learn in greater depth the most up to the minute information about the global markets. I got to meet with major decision-makers and esteemed analysts. I am so grateful to the Association for having taken this invaluable step.”
“We brought along a large project/development that will literally be the size of a small city when completed. There was an architect across from us that was from Egypt that had been working in the Emirates and was looking for new areas to work in. He and one of our commercial representatives struck up a conversation about who we were, and why we were there and within a couple of days, he was actually on the phone with the developer in Arizona – calling from MIPIM and creating a connection!”
“We met with a wonderful young lady who was an economic development representative from a small city outside of Paris – who had been trying to connect with the Greater Phoenix Economic Council, and not having much luck. We identified the person she spoke to, and were able to set up a meeting for the following morning. It was valuable for our representative to step and help coordinate a future meeting to meet their business needs.”
NAR’s official Partners included Miami REALTORS®, Illinois REALTORS®, Missouri REALTORS®, CCIM Institute, Nevada Association of REALTORS® (with the Las Vegas and Reno local associations), Arizona Association of REALTORS® (with the local Scottsdale Association) and the Beverly Hills/Greater Los Angeles Association of REALTORS®. NAR’s official Sponsors were Florida REALTORS®, the Institute of Real Estate Management, Washington State Association of REALTORS®, and the Rhode Island Association of REALTORS® & State-Wide MLS.
To learn more about NAR’s MIPIM initiative, please visit www.nar.realtor/MIPIM. If you’d like to find out how your local Association or company can become a Partner or Sponsor at next year’s NAR-USA a Pavilion at MIPIM, contact Jan Hope at jhope@realtors.org or 312-329-8574.