Snowbird and summer migrations are big businesses in Florida and Canada. (Arizona too.) Thousands of Floridians escape to Canada during Florida’s too hot and steamy summers and thousands of Canadians flock to Florida during Canada’s too freezing, snowy winders. All that flocking to and escaping from have brought increasing internal real estate sales in both places.
In 2017, according to the National Association of REALTORS®, Canadian buyers spent $19B in the US on homes. More specifically, Canadian buyers generated approximately 22% of all real estate sales in Florida.
Both Florida REALTOR®, some 180,000, and Canadian REALTORS®, some 120,00, want to capitalize on those sales. As a result, the Florida REALTORS® Association (FRA) and Canadian Real Estate Association (CREA) have agreed d to collaborate.
Eric Sain, the Florida REALTORS® Association president elect, said, “This is an affirmation of the value of international collaboration and an agreement to share information. There is no legal agreement but there is an understanding of to agree to endeavor and exchange information.”
Here are ways these two REALTORS® association will collaborate:
- Each group is engaging with key governmental officials to increase the awareness of the role of realtors. Sain said, “We believe that reports, data and statistics about international sales will enable more favorable legislation town foreign investment in our respective areas.”
- Each group agreed to share relevant data/statistics/and insights into financing real estate activities in each country. Barb Sukkav, president of CREA, said, “This makes it easier to respond to inquiries in each other’s markets.”
- Each group will provide annual updates on joint activities and services “…to promote networking and relationships between associations and memberships for referral purposes.”
- Each group will act as a resource for both inbound and outbound trade missions to enable members from each country to travel to the other country as a way to familiarize themselves with sites, venues and communities.
- Each group agreed to promote the Certified International Property Specialist (CIPS) designation for international business activities. Each group will promote their respective markets through global conferences and events.
