Real estate is happening all over the world, whether we are following other markets or not. When we connect with agents from other countries, they can help us understand culture and client expectations, which in turn helps us successfully conduct business globally. This episode is all about the benefits of being an International REALTOR® Member (IRM). Our guests Tarun Bhatia and Ana Beatriz Muñoz-Ruiz join Monica to share their experience as IRMs, some of the different real estate practices and traditions in their respective countries, as well as their favorite membership benefits. There are several important links mentioned in this episode — please make sure to visit the "Guest Links" section for all resources discussed in this episode.
[3:00] NAR's international department helps agents from around the world learn different ways to practice real estate, and provides networking opportunities.
[4:30] Tarun introduces himself and his work in India.
[6:30] Ana introduces herself and her work in Mexico.
[9:52] Indians invested almost 7.8 billion dollars in the U.S. in 2017; Indians living in India are investing in the U.S. real estate market, and Indians living in the U.S. are investing in the Indian real estate market.
[13:07] The REALTOR® brand is still a growing thing in India — there is a difference between a REALTOR® and a real estate agent.
[16:00] Many people who go to visit Cancun decide to live there as well; Ana joined NAR to connect with buyers and brokers to be more comfortable working with other people in the organization.
[20:29] The top five foreign buyers in the U.S. are Canada, Mexico, China, India, and the UK, but these only account for a third of all buyers in the U.S.
[22:00] Vastu Shastra is an interesting part of the real estate culture in India that comes over when Indians invest in U.S. real estate.
[26:47] Another difference between the U.S. and India is how they use (or don't use) a CRM or MLS.
[29:02] Culturally, personal relationships come before business relationships in Mexico. They also have legal rules where the bank is involved with foreign buyers as an extra layer in the process.
[33:05] In both Mexico and India, personal relationships matter the most.
[36:30] Ana shares tips for U.S. agents and buyers for how to buy real estate in Mexico — please visit the links below for the CIPS landing sites, which have information on finding the right agent in Mexico.
[41:35] Many Indians are investing in the U.S. to bring back into the country of India, and there are a lot of business opportunities as people try to make it big between India and the U.S.
[44:30] Tarun talks about how Indian laws help protect people during transactions, as well as the real estate laws that restrict who can buy property.
[47:43] Ana and Tarun share some of the many benefits of being an International NAR member.
"NAR U.S. has been around for more than 100 years, so they have perfected the art of training education courses, which we are still trying to learn in India. We get access to your training programs and a number of valuable business tools." — Tarun
"Relationships are still crucial in both markets. Knowing the people so you can connect to find what you need is still crucial." — Monica
"Most importantly, the broker should be someone who has experience, knows the market, and is ethical. I think that's the most important." — Ana
"It is not only about learning and networking with REALTORS® in the U.S., it's also about telling your clients back in India that you are open for business throughout the world." — Tarun
About Ana Beatriz Muñoz-Ruiz
Ana Beatriz Muñoz-Ruiz is a broker in Cancún, Mexico. She has a communications degree from UNUM, in Mexico City. She focuses on residential beach properties and is a strong promoter of the market-to-market program. With over 20 years of experience and a solid reputation, she has a proven track record in the real estate industry and a deep understanding of the market in Mexico.
Ana is a CIPS, ABR, and TCR. She is an active partner of AMPI, FIABCI, NAR, and CILA and has been an advisor in the international direction of the National AMPI, Cancun section president, and AMPI's chief delegate to Europe. She is a Member of CILA and Treasurer of FIABCI México.
Ana prides herself on professionalism and enjoys helping people. She takes particular pleasure in encouraging sales teams to enhance their skills to achieve the established goals. Ana is a constant learner, enjoys travel, and like all good Mexicans, LOVES to enjoy life.
About Tarun Bhatia
- Partner — M/s Shaloo Agencies
- President — NAR India 2021-2022
- 2021 NAR U.S. Board of Director
- Chairman — International Affairs, NAR India 2018-2022
- Chairman — Association of Property Professionals, Delhi NCR
- Past Treasurer — NAR India 2017-2019
- Past Chairman — Education Committee, NAR India 2017-2019
- M: +91 97 1717 0808 Email: email@example.com
Tarun works as a partner at M/s Shaloo Agencies, a real estate consultancy firm in existence since 1980 in Delhi NCR with offices in New Delhi and Gurugram. With a timeline of more than 29 years of experience in the industry, he enjoys the trust of his clients, developers, and fellow REALTORS®.
Tarun is a graduate from the Shri Ram College of Commerce, Delhi University, India and a post-graduate in Finance from ICFAI, Hyderabad, India. Tarun strongly believes in integrity, transparency, honesty, hard work, and maintaining professional relationships with clients, developers, and fellow REALTORS®. He has always tried to bring energy, creativity, experience, and personal knowledge to work. He also believes in sharing best practices and knowledge with fellow REALTORS® and developers.
As a REALTOR® consultant, Tarun specializes in both residential and commercial projects of reputed developers of Delhi NCR and has successfully consulted for projects ranging from residential, commercial offices, commercial retail, hospitality, warehousing, logistics, and education sectors. Over the years, his firm has received a number of awards from these developers.
Tarun loves to spend quality time with his family and is passionate about animals, nature, traveling, photography, reading, sports, music, history, and mythology.
- 2021 NAR Real Estate Forecast Summit: Global Update
- NAR en Español webinars
- For more information on certification in Mexico, visit the CIPS designation page
- Find a reputable agent in Mexico, search for a CIPS designee agent
- Learn more about the Indian tradition of the Vastu Shastra design philosophy
- Visit Monica's website: FuntentionalLiving.com
- Visit Monica's blog: FranklinTNBlopg.com
- Email Monica
- Center for REALTOR® Development