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 Puerto Vallarta Real Estate | August 2006 
Mexican and US Realtors Join Forces
 John Glaab - PVNN
The National Association of Realtors® has announced the formation of a joint venture for exchange of business standards with the Mexican real estate association, Association Mexicana de Profesionales Immobiliarios. The relationship is expected to provide greater uniformity of standards of practice in real estate between the two countries.
The agreement, which is NAR’s first-ever international joint venture, will result in all members of AMPI becoming dues-paying international members of NAR, allowing them usage of the Realtor® logo, registration mark and limited international membership benefits. All of AMPI’s members have a Code of Ethics compatible with NAR’s and only AMPI members will be allowed to use the Realtor® logo and trademark in Mexico.
“This exciting new joint venture will result in more open, transparent, and standardized professional practices across the North American Free Trade Agreement marketplace. The Realtor® brand will now be implemented in a standard manner across the United States, Canada and Mexico,” said Thomas M. Stevens, of Vienna, Va., president of NAR.
“More than 40 percent of Americans living abroad are in these markets. Immigration, the growing international second home market, and international trade all translate into billions of dollars in real estate opportunities in our markets. These important markets offer awesome business opportunities for NAR members, both in commercial and residential practice.”
Stevens credited NAR President-elect Pat Vredevoogd Coombs’ key role in setting up the new venture. “Pat did a wonderful job in successfully pulling together all of the final details of the plan,” he said.
As part of the new venture, a four-hour course titled “Doing Business in Mexico” will be launched at the NAR annual conference in New Orleans in November. The course will later be made available to state and local real estate associations; an online version is planned for 2007. The course will help teach Realtors® in the United States about business opportunities in Mexico.
NAR Forms Joint Venture with AMPI
John Glaab - PVNN
For the first time in history, large numbers of Mexicans are becoming homeowners. Mexico’s economic stability has laid the foundation for a growing market for mortgage-based securities.
Mexico is also the No. 1 foreign destination for retirees from the United States, with over 1 million Americans living there. Main attractions for second home buyers in Mexico include proximity to the seaside and mountains, reasonable costs of resort properties and lifestyle considerations.
Foreigners can own property in Mexico through bank trusts in beachfront and border regions, and title insurance is available.
“This joint venture reflects AMPI’s desire to be more closely linked to the NAR organization, its standards and practices, and also will open up opportunities for members on both sides of the border to do more business together,” said Galo Blanco, AMPI’s 2006 president.
AMPI, the Mexican national professional organization of real estate brokers and agents in both commercial and residential real estate, was established in 1956, and presently has 2,500 members, who represent companies located in all regions of Mexico.
Further information about AMPI is available at: http://www.ampi.org. AMPI also is a founding member of the International Consortium of Real Estate Agencies; information about ICREA is available at http://www.worldproperties.com.
The new agreement is scheduled to be formally ratified by representatives of both organizations at a joint conference October 4-7, Mexico City, and all AMPI members will become international Realtor® members in early 2007.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.
For more information, contact John Glaab at john.glaab@settlement-co.com. |
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