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Pictured are members of the Japanese real estate delegation with SILVAR board directors, Global Business Council members and guests.

Fifteen real estate professionals from Japan came to Silicon Valley early in this month to network with Silicon Valley REALTORS®, bring cultural awareness, and learn about similarities and differences in doing business in the U.S. and Japan.

 

At the Silicon Valley Association of REALTORS® (SILVAR), the Japanese real estate professionals also learned about home inspection and typical inspection services provided to homeowners in the U.S. SILVAR Global Business Council member Atsuko Yube, a REALTOR® with Global Estate Link, arranged the visit. Yube, who is also a past president of the Asian Real Estate Association of America Silicon Valley (AREAA SV) and a board director of AREAA Global Inc., said home inspection is new in Japanese real estate because typically, when purchasing property, the Japanese buyer will tear down the home and build new.

Yube explained it has been the custom in Japan to build new homes because the Japanese like things new. There is also the traditional belief that bad fortune can transfer from the previous owner to the owner. Because of the preference for new and their beliefs, secondhand homes are not as desirable and are heavily discounted. Homes that are newly constructed begin to depreciate in value from the day they are purchased. Most homes are rebuilt after 25 to 30 years.

“The re-sale market has not been strong historically, so when the age of a property is more than 20 years old, its value drops to zero with the property essentially having no value,” said Yube.

Upon arriving at SILVAR, executive officer Paul Cardus and president-elect Alan Barbic welcomed the visitors and shared some information about organized real estate in the U.S., the difference between a real estate agent and a REALTORS®, the REALTORS® Code of Ethics, and membership in the Association of REALTORS®. The real estate professionals met with board directors Mark Wong, Ryan Nunnally and Joanne Fraser, members of the Global Business Council, and leadership from other real estate associations, including Tess Crescini, chair of SILVAR’s Global Business Council and co-president of the Filipino American Real Estate Professional Association Silicon Valley (FAREPA SV), and Anna Maria Valenzuela and Tracey McNeeley, president and director of membership services, respectively, of the Women’s Council of REALTORS® Silicon Valley (WCR SV).

Introductions were followed by a presentation by Yube on Silicon Valley real estate in Japanese. SILVAR member Chika Mori, a REALTOR® with Keller Williams Realty, presented information about the MLS, also in Japanese. Her presentation was followed by a presentation on home inspection in the U.S. by Frank Lesh, executive director of the American Society of Home Inspectors, who flew all the way from Chicago to speak to the group, and Larry Tringali, with Property Inspection Services.

After the presentations, the visitors, members and guests, met for a special evening mixer. Like many foreign guests that visit Silicon Valley, the Japanese real estate professionals were interested in the giant tech companies and were fortunate to tour Google and Facebook during their visit.

 

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$500 for paper option, $450 for paperless option through June!

If you haven’t had the opportunity to take the Certified International Property Specialist (CIPS) Institute at the Silicon Valley Association of REALTORS®, now is a good time to do so. SILVAR is offering its 5th CIPS Institute on June 20-24 for all members and non-members at a discount price through June. The five-day CIPS Institute costs $500 for the paper version, which includes a manual for each of the five courses offered, and $450 for the paperless option. Regular price for the CIPS Institute is $600.

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, taught by National Association of REALTORS® (NAR) 2012 and 2009 International Instructor David Wyant 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 CIPS Institute, REALTORS® will fulfill the classroom requirements needed to earn the NAR CIPS Designation.

Members may enroll online at ims.silvar.org. Non-members may register by calling SILVAR at (408) 200-0100. The discount price includes a continental breakfast and lunch provided by our sponsors Darrell Monda – TourFactory, Larry Tringali – Property Inspection Service and Anita Rodal – AFEX (Associated Foreign Exchange) and SBPI Services, Inc.

Limited sponsorships for the CIPS Institute are still available. Each sponsor is given the opportunity to speak about their product or service on an assigned day. For more information on the CIPS Institute and sponsorships, contact SILVAR Public Affairs & Communications Director Rose Meily at rmeily@silvar.org, or call (408) 200-0109.

CIPS REGISTRATION FORM AND SCHEDULE

CIPS SPONSORSHIP OPPORTUNITY

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