Global MLS to fill several voids

The need to accommodate the international real estate market continues to be a priority for industry providers and the reasons to do so mount nearly every day.

The number of immigrants and foreign investors coming to the United States is increasing, more and more Americans are looking outside the country for a lower cost of living, and wealthy citizens with disposable income still dream of an exotic getaway abroad.

According to the National Association of Realtors, approximately 178,000 of its members closed a transaction with a foreign buyer in 2008, including approximately 61 percent of all Florida Realtors. About the same number of agents had a deal fall through with a foreign buyer due to price, immigration laws, or higher-than-expected property taxes and home insurance costs.

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