Economic Developers: Global Perspective

Economic Developers look beyond the domestic market towards a global perspective to increase development opportunities in their local markets. With an increasingly interconnected world, thinking about global when it comes to economic development is vital for long-term success.

Economic Developers actively engage with global outreach efforts, seeking foreign direct investment and international trade missions to stimulate economic growth through global networks.

As REALTOR® members start to engage their EDOs, a conversation around global will naturally come up. It’s important for members to engage their EDOs to familiarize themselves with real estate worldwide.

NAR Resources to Help Members Engage with the Global Markets

The AHWD Certification

The course work for the At Home with Diversity® certification is designed to enable you to work successfully with and within a rapidly changing multicultural market. It will help you to learn diversity sensitivity, how it applies to U.S. fair housing laws in your business, and ways to develop professional guidelines for working with people in the increasingly multicultural real estate market.

CIPS Designation

Unlock global real estate opportunities through the Certified International Property Specialist (CIPS) designation, catering to diverse audiences such as international investors, U.S. residents exploring new markets, and local clients eyeing overseas property investments. The CIPS designation equips you with essential knowledge, research capabilities, a valuable network, and tools for business expansion. Access the exclusive CIPS Network, a community of 4,000+ real estate professionals across 50 countries, reserved for CIPS-designated members of the National Association of REALTORS®, establishing you as a trusted guide for global market navigation.

Foreign Direct Investment

Foreign direct investment (FDI) can significantly influence the real estate market in the United States. It can bring in capital, increase property values, promote diversification and innovation, generate jobs, ensure market stability and liquidity and have economic effects. However, FDI also brings challenges, such as dependence on investment and potential regulatory and political implications.

Economic development organizations employ diverse strategies to attract FDI to their region. These approaches involve market research, targeted marketing, network building, and participation in global conferences, recognizing the significance of fostering relationships with international investors and developers.

Through these international conferences, these organizations seek to forge connections, promote investment opportunities, offer incentives, and showcase the region's strengths, all while ensuring transparent processes, monitoring market trends, and providing continuous evaluation. Ultimately, these collective efforts aim to create an environment conducive to attracting FDI, emphasizing the importance of establishing and nurturing relationships in foreign markets to drive regional investment.

At NAR Commercial, we invest in two major conferences to help members build relationships and attract FDI, leading to more deals. In the next section, we will discuss these two conferences, MIPIM and C5 + CCIM Global Summit.

MIPIM

NAR's USA Pavilion at MIPIM

MIPIM is one of the world's largest commercial real estate conferences and an essential event for associations and commercial members seeking to attract foreign direct investment. The event offers networking opportunities with international investors, developers, and industry professionals. It allows organizations to showcase their investment projects and highlight their region's or projects' attractiveness to a global audience.

Attending MIPIM Also Provides:

Enhanced credibility and visibility in the global real estate market.
Access to industry insights and trends.
Understanding investor preferences.
A platform for negotiations and deal-making.
Learn international best practices.
Since 2015, NAR Commercial has hosted the USA Pavilion, partnering with associations and EDOs nationwide. Our goal is to increase awareness of markets in the U.S. with commercial, luxury developments, and FDI opportunities and connect interested parties to NAR members.

Participate in the USA Pavilion at MIPIM

C5 + CCIM Global Summit

Since 2021 the C5 + CCIM Global Summit has been bringing together every facet of commercial and investment real estate. Attracting diverse participants, including investors and investment management professionals, commercial property managers, real estate investment trusts (REITs), individuals engaged in multifamily development and management, hotel industry representatives, and those involved in office, retail, and mixed-use property sectors.

In 2024 we will be in Miami and bringing an added focus to those participating in foreign direct investment.

C5 + CCIM Global Summit

Learn more about the 2024 C5 + CCIM Global Summit