Tech Trends 
Display your listings to the world

Over the past 10 years foreign investment in real estate has increased exponentially, up nearly 200 percent in the United States alone, according to research from the National Association of REALTORS®. Even though most Illinois real estate professionals have yet to participate in a transnational real estate transaction, there's no doubt that foreign investment in real estate is on the rise.

Consider this: Do you have a unique listing that would attract an international buyer? Or perhaps you have a client who is interested in a vacation home somewhere overseas. Then you need to know about WorldProperties.com, the largest network of international real estate Web sites in the world, maintained by the International Consortium of Real Estate Associations (ICREA) and representing eight million potential homebuyers and sellers. As a member of the NAR you are automatically affiliated with the consortium and can take advantage of the agent services available.

WorldProperties.com displays over three million international properties, maintaining listings for more than 25 national associations and links to each country’s own database. NAR is the member association for the United States, thus the Web site links directly to REALTOR.com.

Two Key Services for REALTORS®

ICREA has two services that form the foundation for increased business and revenue for its members, the distinctive properties advertising service and the transnational referral system.

Distinctive Properties Advertising Service - Distinctive properties may include vacation homes, condos, rentals, luxury residential and more. Utilizing this service, you can promote high-end and specialty properties that may appeal to an international audience and it gives consumers a single source for locating distinctive international property information.

Distinctive Property ads cost $150 for the lifetime of the listing. Your ad will be on the site for 18 months after which you will be notified via e-mail to verify the property is still on the market. To add a new listing, go to the "ICREA Member Center" and click on the "Property Ad Services" link. Once you’ve entered the property information your listing will be displayed on the Web site immediately after payment has been processed. You can customize your listing, add text enhancements, add up to five photos, customize property descriptions and add a virtual tour at any time. WorldProperties also provides language translations services that allow your properties to be viewed in English, French, Italian and Spanish.

You can also promote yourself and your business by adding your photo and your business logo, as well as contact information to allow consumers to reach you easily. All changes appear in real time. If you have a property listed for over $750,000 on REALTOR.com, it will automatically be listed on WorldProperties. com, without requiring any other action.

Transnational Referral System – In an effort to promote better cooperation and coordination of cross-border real estate transactions, ICREA has developed an international protocol for referring clients to participating members so REALTORS® can earn a fee for referring a buyer to a broker in another country. This ensures uniform procedures for all referral agreements. Members can access the referral agreement, including a dispute resolution forum, electronically through WorldProperties.com.