The improving U.S. economy and strengthening dollar provided a welcoming backdrop for the National Association of REALTORS®’ first foray to the major global real estate exposition known as MIPIM held this week in Cannes, Frances. More than 21,000 attendees from 93 countries have gathered to explore global investment opportunities at the trade show.
The eye-catching 1,200 square-foot NAR-U.S. Pavilion highlighted the association’s commitment to global commercial interests while raising awareness about top markets for foreign investment in the United States. The pavilion showcased three robust U.S. markets that are internationally-recognized for their success in attracting foreign investment: Miami, Chicago, and Birmingham, Ala. “There are quite a lot of connections to be made here at MIPIM,” said NAR Treasurer Mike McGrew, who is part of NAR’s delegation at the show.
Attendee Cynthia Shelton, a commercial practitioner with Colliers International from Orlando, Fla. and current Committee Liaison to the NAR Leadership Team was energized about the NAR’s presence at the show. “This is going to make the U.S.A. the place to be, to invest in even more than it is now,” she said, in an interview from a MIPIM broadcast on YouTube. “REALTORS® represent the boots on the ground. We’re hoping to bring more investors to the U.S. to invest in things like office buildings, residential developments, and retail. When investments happen, cities give credits, get more taxes, and allow us to develop better projects which helps our schools and employers.”
The wide range of countries at the show— from Belgium to Brazil— is generating considerable buzz. “Governments have invested large sums to attract attention from buyers, developers, and interested parties,” said Christopher Zoller, CRS, and 2015 residential president of the Miami Association of REALTORS®. “We are getting lots of inquiries here from people looking for investors or investments, developers or developments, small personal purchases or large scale opportunities. It is exciting to see the global scale of real estate excitement.”
The CCIM Institute has partnered with NAR at the event to showcase their education platform and the value of their prestigious professional designation. After being away for several years, participating in the MIPIM event “has given us the ability to seek out significant business relationships for our members,” said 2015 CCIM President Mark Macek. “As an organization with members in over 30 countries we look forward to using this opportunity to move CCIM forward.”
NAR’s presence at the show has broadened awareness of the role of REALTORS® in commercial and global real estate. Approximately 70,000 NAR members offer commercial brokerage and related services. An additional 283,000 members are involved in a combination of residential and commercial work.