Novato, CA (September 11, 2012) – Frank Howard Allen Realtors has launched a new International Services Division (ISD). The ISD serves to connect foreign investors with local US real estate opportunities, and locate quality foreign real estate investments for local US investors. Cliff Perotti, a Certified International Property Specialist in the company’s Mill Valley office with broad experience in this area, heads the ISD.
“The international niche is a growing opportunity area across the US,” said Perotti. “In 2011, according to the National Association of Realtors, an estimated 12% of all closed transactions in California involved foreign buyers. This is second only to Florida. The study also showed that 43% of foreign buyers indicated that desirable location is a key factor in their selection of US property, which is important because our northern California marketplace offers one of the most desirable locations in the world.”
As Director of the ISD, Perotti works with a select group of agents and focuses on recruiting, training and international business development.
"In looking forward to a growing global real estate market, we felt it was imperative to address this sector and worked with Cliff to launch the ISD as a way to create additional revenue opportunities for our agents and offer another valuable service for our clients,” said Noreen Smith, President and COO of Frank Howard Allen Realtors. “Combined with our affiliation with Luxury Portfolio International and Leading Real Estate Companies of the World, the ISD increases our competitive advantage in the marketplace, both locally and abroad.”
The ISD serves the international market by creating alliances with other brokerages throughout the world, expanding online marketing through membership in international MLS systems, international investor websites and international lead systems, and active participation in large international investor symposiums and conferences. Through a series of international investing seminars and webinars, the ISD provides clients and investors with the opportunity to learn more about foreign investment. Additionally, the ISD is an active member of the Overseas Property Professionals, the Association of International Property Professionals and the International Real Estate Federation.
Frank Howard Allen agents are selected to join the ISD based upon strict criteria, which includes designation as a Certified International Property Specialist (CIPS), earned through the National Association of Realtors. ISD agents work closely with Perotti, attend monthly meetings and participate in the ISD LinkedIn Group.
Additional Facts About the International Real Estate Market:
• In 2011, US sales of homes to foreign buyers increased 24.2%
• 37% of foreign buyers indicated that they intend on using property as their primary residence; 28% as a vacation home; 16% as rental investment property
• 53% of international buyers already own more than one property in the United States
• Over 97% of foreign buyers purchase a residential property (vs commercial), including single-family dwellings, townhomes, and condominiums
*Source: National Association of Realtors
About Frank Howard Allen
Locally owned and operated, Frank Howard Allen Realtors is the only North Bay brokerage that can offer its clients the value of a century of experience with the convenience of comprehensive, state-of-the-art services. As members of Leading Real Estate Companies of the World and Luxury Portfolio International, the largest global network of premier locally branded companies, Frank Howard Allen is able to offer home buyers and sellers the resources of a national firm and the strength and value of a local market share leader. With more than 20 offices and 400 agents in Marin, Sonoma, and Napa Counties, Frank Howard Allen prides itself on providing extraordinary personalized care and its commitment to giving back to the communities it serves. Learn more online: www.fhallen.com.
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