CEI/CEPI NAR 2010 Convention Remarks

European Real Estate meets NAR - big success for CEI and CEPI

The two European Real Estate Associations CEI and CEPI have been presenting the European Real Estate market during the Convention and EXPO of the National Association of Realtors - NAR. "It was a very successful appearance of our associations" the two presidents of CEI and CEPI, Manuel Negrao and Timo Mutanen declared after the NAR Convention. "NAR is the largest Real Estate Agents Association in the world. For the two European Associations it was a good chance to bring the European Real Estate market into the focus of NAR and ist members", said Manuel Negrao. "We have heard from the NAR leadership team 2011 that the Global Alliances of NAR are more and more in the center of the business of american realtors. In some parts of the country more than 60 % of the Realtors already had contacts and have made business with fore ign buyers and sellers. Therefore it was important to talk about the specialties of the Real Estate market in Europe" Timo Multanen added.

Presentation on the market:

During the Saturday session at the NAR Convention and EXPO the two European Associations of CEI and CEPI made a presentation on the Real Estate market in Europe and on the business habits of Real Estate Agents in Europe. Sven Johns, from CEI and IVD, Germany, who did the presentation, had two main messages for the audience: look out for real estate agents that are member in professional bodies in Europe to make business with and decide on the share of the commission fee while working with referrals. "In some countries in Europe about 50 % of the actively working  Real Estate Agents are members in professional organisations and the other part is not in an Association. For realtors it is mostly important to cooperate with colleagues from the Association in CEI and CEPI", said Timo Multanen after the presentation. "Members of p rofessional bodies are working under the code of ethics, are working with transferral forms, such as the TRC from by worldproperties.eu and can be disciplined by a national association in case of violating the professional rules", Manuel Negrao added.

Referrals:

"Realtors are very used to working with referrals. European Real Estate Agents are not in each and every case used to working with a referral", said Sven Johns. "In order to avoid irritations Real Estage Agents should talk about the referral fee as part of the commission fee. In some European countries the Real Estate Agents are used to share the complete commission fee half by half. Realtors usually are paying a 15 to 20 % share of the commission for a referral", explained Sven Johns the importance of an early agreement on the referral fee.

Market:

The presentation was very vividly held after more than 10 representatives from different countries have given their appreciation of the national Real Estate markets. It was very often asked to talk about the habits of commission fees in different European countries. Realtors are used to commissions payd by sellers. In Europe all commission fee systems are present; in some countires the seller pays the commission fee, in others the buyer and in severeal countries the commission fee is payd by both parties. In addition to the business habits the representatives from several countries gave their sight on the market after the financial and economical crisis of the last two years. "The European Real Estate market has two different faces; some countries are still suffering from the downturn of the market while other countries see a good demand for resi dential properties", said Sven Johns during the presentation. A highly discussed item was the expectation of higher inflations rates and rising conditions for mortgages and interest rates. Most experts are awaiting rising interest rates and a higher inflation rate for the european countries. They are sharing these expectations with their colleagues from the US. In severeal economic outlooks during the NAR convention the same expectation was metioned.

Leadership meeting:

During a meeting with more than a hundred members of leadership teams from 24 countries CEI and CEPI introduced the two Associations as partners for the European market. This reception was very well acknowledged. The new president 2011 of the NAR, Ron Phipps, attended the meeting and said that a strong European Association is an important partner for the NAR. Phipps has been invited by Manuel Negrao and Timo Multanen to participate in the 2011 European Real Estate Congress end of May 2011 in Berlin. "We are inviting the NAR leadership team to this big European event", said Timo Multanen and adressed Ron Phipps as well as the other presidents of the associations that were at the reception. "We are creating a new Association and want to found the new European Real Estate Association in May 2011" said Manuel Negrao< /strong> during the speech of the two presidents. There was a very high interest on this matter during the discussion on the reception. The congress will be held from 25th to 27th of May 2011 in Berlin.

The participation of more than 1.500 international guests is a very important part of the NAR Convention and EXPO. The Global Business Alliances Committee in NAR is responsible for more than 80 partnerships with National Associations around the world. "As international Real Estate business is becoming a bigger part for Real Estate Agents around the world, the presence of CEPI and CEI during the NAR Convention was not only important but a ´big success', summarised Manuel Negrao and Timo Multanen.

Note: The presentation held by CEI and CEPI during the Conference and EXPO can be downloaded on the website of CEI and CEPI.

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