What is a Global Business Council?
Global Business Councils are groups within the local board structure of NAR dedicated to globally themed education, programming, and networking for their members.
The council, comprised of volunteers and staff liaisons, takes the lead in planning global programs, hosting CIPS courses, and collaborating with neighboring boards to build awareness among members of the global business opportunities that surround them.
The council acts as a REALTOR®-driven community organization, helping REALTORS® build partnerships with globally-minded businesses, mortgage brokers, attorneys, and other relevant local entities.
Over 100 Global Business Councils currently exist at state and local associations across the country, operating on annual budgets ranging from $0 to five-figure endowments.
Why Are Global Business Councils Important?
REALTORS® are always trying to gain and maintain their competitive edge, and more than $104 billion worth of residential real estate is sold to foreign and immigrant buyers annually, resulting in over $5 billion in commissions for REALTORS®.
Global business includes transactions with foreign nationals, immigrant clients, buyers with extended family abroad, employees of foreign corporations, multilingual families, and other groups residing in communities in every state.
Global Business Councils communicate the importance of these opportunities and underscore REALTORS'® international and multicultural real estate transaction potential.