The National Association of Realtors-India is holding its sixth annual meeting Aug. 16-17 in Kolkata.
While some of the scheduled programming might sound familiarly mind-numbing to American Realtors (“Standardization of Global Practice in Real Estate”), others topics seem a little more adventurous (“How to achieve success using the power of subconscious mind”).
“By its old spelling, Calcutta, India’s second-biggest city, conjures up images of human suffering to most Westerners,” the travel site Lonely Planet informs would-be visitors. But locals and more worldly types know that Kolkata is “regarded as the intellectual and cultural capital” of India, Lonely Planet says.
In a testimonial on the event’s website, Thijs Stoffer, CEO of the International Consortium of Real Estate Associations (ICREA), says last year’s NARI convention was “an excellent experience for international attendees. Beyond the extremely friendly atmosphere that I think was felt by all, it provided a great environment to connect with the Indian marketplace and do business.”
ICREA is a consortium of real estate associations that sets standards for international real estate practice. Stoffer says NARI “has made great strides towards raising the level of professionalism throughout the country, and its members have a very realistic understanding and view of the domestic market, which is a fundamental requirement for engaging in cross-border transactions. NAR-India is helping to change the face of real estate brokerage in India — its members understand the value of being part of a larger network of industry professionals and are committed to high standards.”
The U.S.-based National Association of Realtors withdrew from ICREA in 2010, after the consortium started publishing information on U.S. listings on ICREA’s search portal, WorldProperties.com, not sourced from realtor.com. NAR said its agreement with realtor.com operator Move prohibited it from participating in another site displaying U.S. properties. Realtor.com launched an international portal the following year.
Although NAR is no longer a member of ICREA, it maintains formal relationships with more than 80 organized real estate associations around the world that abide by a code of ethics — bilateral partnerships that the trade group says help U.S. Realtors establish business partnerships and referral opportunities.