The National Association of REALTORS® has announced a new bilateral agreement with the Syndicat National des Professionnels Immobiliers (SNPI) (Real Estate Professionals Trade Union), a French institution with over 8,000 members, expanding its network of business partnerships around the world
This signing is particularly important, marking a milestone for NAR Global and its partners as the 100th bilateral partnership in 85 countries. Bilateral agreements provide for the reciprocal exchange of education and training and a commitment to high standards of ethics and best practices.
“It is important for NAR to expand outreach across the world and continue to render the global real estate markets accessible, profitable and ethical for REALTORS® everywhere. The announcement of the 100th bilateral partnership symbolizes the success of NAR’s global programs and showcases how these alliances help REALTORS® establish worldwide business partnerships and referral opportunities,” says NAR President John Smaby, a second-generation REALTOR® from Edina, Minn., and broker at Edina Realty.
NAR has maintained formal bilateral partnerships since the 1930s, with Canada, Mexico, Cuba and the Philippines as its original partners.
Between 1970 and 2015, NAR established 78 new partnerships throughout Europe, Latin America, Asia, the Middle East and Africa, creating the largest professional real estate network on Earth. An additional 22 partnerships have been signed since 2015, thus maintaining the largest network for global bilateral partners and international REALTOR® members.
Foreign investment in the U.S. continues to remain high, with $250 billion in assets accounting for close to 10 percent of the total U.S. market, helping NAR’s members become more successful in the lucrative global real estate markets.
Providing educational opportunities and best practices to NAR’s bilateral partners through individual membership opportunities raises the level of professionalism in the real estate field throughout the world. By helping implement leading practices and strategies into global markets, including basic advocacy, licensing standardization, MLS and property platforms, among other initiatives, enables real estate markets around the world become stronger and create more transparency for consumers.
For more information, please visit www.nar.realtor.