What Is a Global Business Council?
Global Business Councils are groups within the local or state board structure of NAR dedicated to globally themed education, programming, and networking for their members.
The council, compromised of volunteers and staff liaisons, takes the lead in planning global programs, hosting educational events and collaborating with other boards and outside entities to build awareness among members of the global business opportunities within their own market.
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 as well as positions their association as the voice for global real estate in the local market.
Over 130 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?
In today’s world, you can’t make any smart business decisions without discussing the global supply chain or the global economy. Your association, your community, and your members are all part of that global economy. REALTORS® are always trying to gain and maintain their competitive edge, and more than $175 billion worth of U.S. residential and commercial real estate is sold to foreign and immigrant buyers annually.
Global business includes transactions with foreign nationals, immigrant clients, buyers with extended family abroad, employees/owners 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 expertise and potential.