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Tony Tadros

NEFAR's International Council of Realtors (IREC) recently joined forces with the Northeast Florida Builders Association for a diversity training seminar presented by IREC member Gonzalo Mejia. The program was of  interest to businesses in the Jacksonville and surrounding areas who deal with foreign entities involved in real estate acquisitions.

The Northeast Florida corridor, specifically the Jacksonville metropolitan area, is increasingly becoming an appealing target to international companies and individuals considering business and real estate investments. This growing business niche requires specific new skills to be acquired by Realtors, builders and developers. In fact, the NAR Code of Ethics now recommends that professionals should not engage in such transactions unless they are knowledgeable of the international business market.

Mejia’s presentation was an eye-opener regarding the criteria that Realtors and builders need to understand and apply when dealing with a foreign client. It also highlighted the need for continuing education in this business segment and touched on the need to understand the culture, customs and background of the client.

Mejia indicated that areas to consider when dealing with a foreign client are: language, differences or barriers, religion, business and transaction understanding, unfamiliarity with the American dwelling, home décor or needs, personal relationships, financials, process expectations and, most of all, immigration laws, accounting and IRS regulations that affect and govern these clients to achieve their goal.

Our thanks to the sponsors for the IREC/NEFBA diversity training program: Attorneys At Law David Grigaltchik and Howard Smith, both of whom interact with foreign clients.

Don't miss the Transnational Referral Certification (TRC) course on Sept. 8 at The Resource Center!