Illinois REALTORS Lead Trade Mission to China September 19-29, 2006

SPRINGFIELD, Ill.– The Illinois Association of REALTORS and the Illinois Department of Commerce and Economic Opportunity will conduct a real estate trade mission to China September 19-29, 2006. Eighteen representatives of the Illinois Association of REALTORS (IAR) will participate in the mission visiting Beijing, Shanghai and Hong Kong. REALTORS will attend the MIPIM Asia conference in Hong Kong, which brings together the world’s leading decision makers in real estate development in the Asia Pacific region. This is the first trade mission for the Illinois Association of REALTORS.

“According to a study by the National Association of REALTORS, foreign direct investment in the United States has risen more than 70 percent in the last three years. The increasing strength of the Asian markets makes this a very attractive opportunity for promotion of real estate resources in Illinois,” said Robert Zoretich, president of the Illinois Association of REALTORS. “We do know foreign investment in U.S. markets plays a significant role in stimulating the U.S. economy by influencing the movement of domestic interest rates and directly contributing to the creation of new jobs.”

China is also undergoing a transformation of its own with its developing residential and commercial real estate sector. Preparations are underway for the 2008 Summer Olympics to be held in Beijing.

“Through this mission, we plan to offer resource sharing, present details of the diversity of the Illinois real estate market and facilitate opportunities for joint ventures and future business exchange,” said Zoretich, broker-owner of The Zoretich Realty Group in Chicago.

The State of Illinois and IAR will co-sponsor a trade show booth in the American Real Estate and Services pavilion at the MIPIM Asia conference, a project of the United States and Foreign Commercial Service of the U.S. Consulate General in Hong Kong.

The booth will showcase commercial investment opportunities within Illinois. The National Association of REALTORS will also be an exhibitor at the conference. Rajinder Bedi, Managing Director of the Office of Trade and Investment for the Illinois Department of Commerce and Economic Opportunity will be accompanying the real estate mission.

Representing IAR leadership on the mission are IAR President Robert Zoretich; President-Elect Kay Wirth, Re/Max Unlimited Northwest, Crystal Lake; Treasurer Pat Callan, Realty Executives Premiere, Wheaton; Immediate Past President Stan Sieron, Stan Sieron and Company, Belleville; and IAR Chief Executive Officer Gary Clayton.

Illinois REALTORS will deliver presentations about the residential and commercial Illinois real estate market at an International Real Estate Forum in Beijing. In Shanghai, REALTORS will meet with representatives of the Shanghai Real Estate Broker Association. They also will tour specific real estate projects in each city on the trade mission.

“As the U.S. economy has become increasingly international in recent years, so has the U.S. real estate market,” Zoretich stated. “The Illinois Association of REALTORS sees this as an opportunity to showcase Illinois real estate opportunities with an even greater objective in mind to promote economic development and enhance future investment in our state.”

The Illinois Association of REALTORS is a voluntary trade association whose 61,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership.

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