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The Silicon Valley Association of REALTORS®’ (SILVAR) fifth Certified International Property Specialist (CIPS) Institute took place this week with 17 students registered. The students, many of whom are SILVAR members, hail from the San Francisco Bay Area. One traveled all the way from Canada. Many are well-traveled and come from different cultural backgrounds. All were eager to learn more about the international real estate market and how to grow their global business.

The courses were once again taught by 2012 and 2009 National Association of REALTORS® International Instructor of the Year David Wyant, assisted by his wife, Patsy. The Wyants travel around the country and the world teaching the CIPS courses. This is their fifth trip to Cupertino. Each time they come, they remark about Silicon Valley’s growth.

Wyant also noted, “Silicon Valley REALTORS® are among the most intelligent in the nation.”

The CIPS Institute provides training in international business issues, including currency conversion, cultural awareness, legal and tax requirements, ownership and transaction principles of international real estate, and specifics about the real estate markets in Europe, the Americas, and Asia. The week-long CIPS Institute includes two required core courses and three elective courses. Students must pass a multiple-choice exam at the end of each course.

Upon completing the required five courses and fulfilling other necessary requirements, graduates of this year’s CIPS Institute can receive their CIPS designation and have the opportunity to be recognized at the 2016 NAR REALTORS® Conference and Expo, which will be held in Orlando, Fl. on November 4-7.

Thank you to this year’s CIPS Sponsors of the Day, who provided breakfast and lunch each day. They are Amy Ku, VP Mortgage Sales Manager for Northern California with HSBC Bank; Janet Case, CEO of Proxio; Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc.; Darrell Monda, owner of TourFactory Bay Area; and Larry Tringali, owner of Property Inspection Service.

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Congratulations SILVAR 2015 CIPS graduates!

Congratulations SILVAR 2015 CIPS graduates!

The Silicon Valley Association of REALTORS® (SILVAR) 4th CIPS (Certified International Property Specialist) Institute ended on Tuesday. This year’s Institute had a total enrollment of 31 students. SILVAR welcomed back instructor David Wyant and his wife and assistant Patsy Wyant.

This year’s students were a very diverse and well-traveled group from all over the Bay Area, Southern California and Arizona. Once the students complete and submit their CIPS applications to the National Association of REALTORS®, they can receive their CIPS designation and get pinned at the NAR Conference and EXPO, which will be held in San Diego November 13-16.

A highlight of the last day was a visit by Joe Schneider, NAR manager of Global Business Development and Outreach. Schneider spoke to the students about the value of the CIPS designation, especially in Silicon Valley, which continues to attract many international buyers.

At the end of the last course, SILVAR’s Global Business Council hosted a CIPS Reception, which was also attended by SILVAR CIPS designees, who shared their global real estate experiences with the students. Jennifer Tasto, NAR Liaison to the Philippines, also reported on the International REALTOR® Conference held in the Philippines and NAR’s project to build a REALTOR® village for Super Typhoon Hainan victims there.

The success of this year’s CIPS Institute would not be possible without our generous CIPS Sponsors of the Day. Each sponsor had very informative presentations.

Darrell Monda, owner of TourFactory Bay Area, took students on a virtual tour of homes, a platform that works as a very good marketing tool, especially for foreign buyers who cannot physically be at a property they are interested in purchasing. TourFactory has certified aerial photographers and is the only company in Northern California that has a waiver from the FAA to use drone photography in its business.

The students enjoyed Kyle Chuang’s presentation, which included tips on how to take a multiple choice exam, a requirement at the end of each class day. Chuang, who is with Farmers Insurance, also tested students on home insurance information helpful for their clients.

Janet Case, CEO of Proxio, introduced the REALTORS® to the international networking platform that links REALTORS® and their listings with other agents around the world, including real estate developments. Proxio translates listings in 19 languages, 55 currencies and metric measurements. Case said studies show 20 percent of U.S. families do not speak English at home. In California, the percentage is higher – 43 percent. Proxio is a free benefit for SILVAR REALTORS® who are members of MLSListings Inc.

Kenneth Chan, premier mortgage consultant with HSBC, focused on how foreign buyers who don’t fall under the 2-2-2 rule (provide a two-year U.S. residency, two-year work history and two-year credit history) can qualify for a mortgage loan, other obstacles foreign buyers face, and success stories.

Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc., educated the students on foreign currency exchange and SBPI Services’ captive insurance program, which enables Chinese investors to take millions of dollars out of China and invest the money from the policy in real estate.

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