Great Month for Thai Real Estate

To say the very least, August 2017 marked one of the most important and progressive months ever for the Thai real estate industry.

First, the Real Estate Sales and Marketing Association of Thailand (RESAM) again joined forces with the National Association of REALTORS® (NAR) to present the world’s most highly-recognized real estate education and business opportunity: the Certified International Property Specialists Training Course (CIPS).

From August 12 to 16, RESAM held its third such training course in Bangkok at the FYI Center’s Victor Club, where NAR trained 47 Thai and foreign real estate professionals as International Property Specialists.

The Real Estate Sales and Marketing Association of Thailand (RESAM) was established in 2005 by Dr. Pairote Sukjan, RESAM’s first president.

RESAM now has 120 members, including realtors, brokers/brokerages and developers. Its executive committee consists of 20 professionals representing all sectors of the Thai real estate industry.

RESAM was formed to promote better sales and marketing skills and professionalism through direct member interaction as well as through exhibits and seminars for continued education.

NAR is the world’s leading real estate alliance. Headquartered in the United States, it also is the world’s largest trade organization, boasting membership of almost 1.3 million individuals from 89 real estate associations in 68 countries.

The CIPS certification course is targeted at expanding the knowledge globally for each participant with a hands-on experience in international real estate transactions, as well as five full days of intensive study focused on transnational transactions and their most critical aspects.

Topics included currency and exchange rate issues, cross-cultural relationships, regional market conditions, investment performance, and tax issues, among others. Course titles are Global Real Estate: Local Markets, The Business of U.S. Real Estate, Asia/Pacific and International Real Estate, Europe and International Real Estate, and The Americas and International Real Estate.

The 47 participants were fortunate to have David Wyant as their instructor. The international real estate professional has more than 25 years in global marketing, branding and strategic sales and is a leading member of the NAR at the institutional level. He is a faculty member for the International Property Specialists certification.

Wyant was recognized by his peers as NAR REALTOR® of the Year in 2006 and was the CIPS Instructor of the Year in both 2009 and 2012.

The intensive five-day training program and certification will go a long way in solving the credibility problems facing so many individuals in Thai real estate who do not have the formal real estate education and the necessary certification to achieve international recognition.

I am very proud and grateful to David Wyant for allowing me to be his assistant instructor during the training course.

Speaking of solving credibility problems, NAR conducted its third International REALTORS® Conference outside the United States of America here August 17 to 20.

This ground-breaking event once again clearly demonstrated the NAR is reaching beyond its US borders to support the growing interest in property ownership throughout the world.

This third venture into globalizing the real estate industry is indicative of the trade association setting its sights on grooming the ASEAN region as its ‘gateway into Asia’ as the middleclass boom here that already has stimulated tremendous growth in home ownership is certain to further generate the demand for real estate education and improved industry standards. As NAR’s primary goal, it has made the organization an important player in both U.S. and world government regulatory bodies.

Since its founding more than 100 years ago, the NAR has shown itself to be a global organization that has actively represented not only American brokers but also brokers worldwide including Thailand and the entire ASEAN region.

To help support and strengthen that ASEAN bond and partnership, the National Association of Realtors sent a team of top leaders to the Regional Leadership Summit and to the IRC conference.

As a founding member of the United Nations’ Economic and Social Council, the NAR is a non-government organization member of that prestigious organization, offering great benefits to its bilateral partnerships with 89 real estate organizations in 68 countries.

We here in Thailand were excited to organize and host the NAR’s third IRC Conference as we welcomed the Realtor world to this auspicious industry event.

One of the primary components of the conference at the Queen Sirikit National Convention Center was the closed-door Regional Leadership Summit on August 18, attended by many top NAR officials including leaders of NAR’s cooperating associations (bilateral partners) from throughout ASEAN and the world.

The NAR, well known for having the highest professional standards in the international real estate industry, is responsible for having drafted the real estate profession’s first enforceable code of ethics.

On that topic, another highlight of the Bangkok Conference was a special Code of Ethics Training Course conducted by Furhad Waquad, one of the NAR’s top international educators.

More than 50 students received an intensive three-hour course including group assignments and an exam. Upon completing the course, everyone received a Code of Ethics Training Course certificate.

Now, along with Code of Ethics training, Thailand’s next major step will be implementing standardized real estate education, examinations and licensing.

Yes, a real estate licensing body for Thailand is very close indeed, and that is something that will move our region into the global real estate market in a very big way.

As I often say “Everyone deserves a home, and our job is to make that happen safely and securely.”

Pin It on Pinterest