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The National Association of REALTORS® (NAR) connects real estate agents from all over the world to assist them in growing their referral business and share best practices under a code of ethics that secures the trust and confidence of international clients. This study looks at the referrals International REALTOR® Members (IRMs) receive from their contacts abroad and the challenges and opportunities regarding the international referral business.
Key Findings
- 54% of respondents had at least one referral from a contact abroad, whether IRM or not.
- Respondents received residential and commercial referrals: residential purchase (80% of respondents), residential lease (37%), commercial purchase (20%), and commercial lease (13%).
- A high fraction of respondents were able to assist the referred person: residential purchase (90% of respondents), residential lease (82%), commercial purchase (78%), commercial lease (84%).
- A small fraction of respondents reported referrals were from IRM contacts: residential purchase (19% of respondents), residential lease (15%), commercial purchase (13%), commercial lease (29%).
- Referrals are mostly regionalized: most Latin American respondents received referrals from U.S. and Latin American contacts, while most Asian respondents received referrals from Asian contacts.
- More than half of respondents reported they need networking events and tools, training, and information on international clients to growth their referral and international business.
