I have a new credential. I was selected to be the National Association of Realtors Presidential Liaison to Jamaica!
If you have read past posts, you may know that I enjoy travel, languages and cultures. So a couple of years ago, I went to an International Real Estate conference and got a designation as a Certified International Property Specialist.
Commercial Real Estate is still my bread and butter but it is such a blast to meet all of these people from all over the world and set up connections. Becoming the Presidential Liaison to Jamaica is another step in that direction.
I will be attending several International Real Estate events in Washington, DC later this year at the NAR mid-year conference, as well as several events later in the year in San Diego at the NAR annual national convention. AND I will be traveling at least once this year to Jamaica.
It's going to be a fun year!
BTW - Let me know if you could use some help with Commercial Real Estate or International Real Estate. I am licensed in Kentucky and Indiana. I work with sales and leasing and represent buyers, sellers, landlords, tenants and investors.
Have a great day!
David
David W. McCoy
Vice President / Broker
Commonwealth Commercial Real Estate
DMcCoy@ccre.biz
502-379-6005
Showing posts with label Global Real Estate. Show all posts
Showing posts with label Global Real Estate. Show all posts
Wednesday, March 4, 2015
Monday, September 16, 2013
Finding the Right Broker
When you are looking for a broker, it is a good idea to ask a few questions. The right broker will want to make sure that your needs are taken care of. Ideally, that would benefit him as well.
A colleague forwarded me a request from a broker in another state who wanted to find someone who knew about real estate in Costa Rica. When I called, I was told that this broker had just listed a hotel in Costa Rica on the Pacific Coast.
As we talked further, I discovered that this broker had never been to Costa Rica. He did not speak Spanish or any other language other than English. He had no experience with the hospitality industry. He was not aware that there was a rainy season or that because of the rainy season, maximum occupancy was limited to about 60%. He did not know that Germans were big investors in Costa Rica. He did not know that you had to be careful who you worked with in Costa Rica because there were no licensure laws for real estate brokers. He did not know how to do an international transaction or arrange for international financing. He had no idea about Costa Rican immigration laws.
Yet he was confident that he could handle this and had it under control....
I'm not sure how this broker got this listing but it is hard to beleive that this broker is acting in the best interests of his client. Certainly, you want to take care of your client's needs but if you are not the appropriate one to do that, the best practice is to refer the listing to someone who can.
I doubt I will hear from this broker again but I left the door open for him to call, in case things start to blow up on him. I have contacts in Costa Rica who are fluent in Spanish, German and English and who work on the Pacific Coast. They routinely work with the hospitality industry, understand immigration laws and handle international transactions and financing. And they are members of NAR, which means that they voluntarily follow the NAR Code of Ethics and take Continuing Education.
For his client's sake, I hope that he managed to find someone in Costa Rica with similar qualifications.
The lesson here is that it is a good idea to ask a lot of questions, especially when you know that you are asking someone to work on a property that is not a run of the mill project.
If you have any questions about finding a broker or about real estate in general, give me a shout. I would love to help if I can.
Have a great day!
David
David W. McCoy, MBA
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
ofc: (502) 379-6005
cel: (502) 905-5274
e-mail: DMcCoy@ccre.biz
BTW - I am a licensed Real Estate Broker in Kentucky and Indiana. I specialize in Commercial and International Properties. I handle Office, Industrial, Investment, Commercial Land and Retail properties. I work with Landlords, Tenants, Sellers, Buyers and Investors. Heck, I can even set you up with someone to help you with Residential property. Let me know if I can help.
A colleague forwarded me a request from a broker in another state who wanted to find someone who knew about real estate in Costa Rica. When I called, I was told that this broker had just listed a hotel in Costa Rica on the Pacific Coast.
As we talked further, I discovered that this broker had never been to Costa Rica. He did not speak Spanish or any other language other than English. He had no experience with the hospitality industry. He was not aware that there was a rainy season or that because of the rainy season, maximum occupancy was limited to about 60%. He did not know that Germans were big investors in Costa Rica. He did not know that you had to be careful who you worked with in Costa Rica because there were no licensure laws for real estate brokers. He did not know how to do an international transaction or arrange for international financing. He had no idea about Costa Rican immigration laws.
Yet he was confident that he could handle this and had it under control....
I'm not sure how this broker got this listing but it is hard to beleive that this broker is acting in the best interests of his client. Certainly, you want to take care of your client's needs but if you are not the appropriate one to do that, the best practice is to refer the listing to someone who can.
I doubt I will hear from this broker again but I left the door open for him to call, in case things start to blow up on him. I have contacts in Costa Rica who are fluent in Spanish, German and English and who work on the Pacific Coast. They routinely work with the hospitality industry, understand immigration laws and handle international transactions and financing. And they are members of NAR, which means that they voluntarily follow the NAR Code of Ethics and take Continuing Education.
For his client's sake, I hope that he managed to find someone in Costa Rica with similar qualifications.
The lesson here is that it is a good idea to ask a lot of questions, especially when you know that you are asking someone to work on a property that is not a run of the mill project.
If you have any questions about finding a broker or about real estate in general, give me a shout. I would love to help if I can.
Have a great day!
David
David W. McCoy, MBA
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
ofc: (502) 379-6005
cel: (502) 905-5274
e-mail: DMcCoy@ccre.biz
BTW - I am a licensed Real Estate Broker in Kentucky and Indiana. I specialize in Commercial and International Properties. I handle Office, Industrial, Investment, Commercial Land and Retail properties. I work with Landlords, Tenants, Sellers, Buyers and Investors. Heck, I can even set you up with someone to help you with Residential property. Let me know if I can help.
Thursday, August 22, 2013
Brazilian Dreaming
I got my tourist visa to go to Brazil!
The end of next month, I will be traveling to Brazil with a group from GLI (Greater Louisville Inc - our local Chamber of Commerce) for a 9 day trip to Sao Paolo and Rio de Janeiro. This is a cultural exchange trip for members of the Louisville community.
I am looking forward to meeting the people going on the trip as well as those we will meet while we are in Brazil. I have been surprised to learn we have a small Brazilian community in Louisville. I have discovered this quite by chance when several Brazilians have introduced themselves after hearing me casually mention my upcoming trip.
Admittedly, I am primarily going because of GLI's trip offering BUT here is why I want to go -
In recent years, Brazil's economy has been booming while at the same time the US dollar has been devaluing. The combination of these factors has caused US goods and real estate to be very inexpensive for Brazilians. Brazilians have responded by investing heavily in the US. A buddy of mine from the Miami area told me that in one year, Brazilians pretty much absorbed the entire vacant inventory of condos that were left from the housing crisis. In fact, he tells me that there are now billboards all over Miami in Portuguese.
It may be a small chance that someone in Brazil will want to do something in Louisville, KY but perhaps a bigger chance that someone in Brazil will want to do something in the US. Also, with Brazil's economy booming, if someone in the US wants to invest there, I think it would be nice to have met a few contacts. I have some referral networks that would allow me to find people to help with Real Estate all over the world and those are very useful. But I have found that when possible, meeting people face to face makes those connections stronger.
In any event, for me, I get to see first hand the land, people, culture (and real estate) in Brazil and hopefully, I get to build my network of friends and business connections.
SO, with that said, if you happen to know someone interested in real estate in Brazil OR someone in Brazil interested in finding real estate in the US, let me know.
Wish me luck! It's going to be a great trip!
David
David W. McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
office: (502) 379-6005
cell: (502) 905-5274
e-mail: DMcCoy@ccre.biz
BTW - Call me if you need help with real estate! I am a licensed real estate broker in Kentucky and Indiana. I specialize in Commercial Real Estate and Global property. I work with Buyers, Sellers, Landlords, Tenants and Investors. I handle Office, Industrial, Land, Investment and Retail properties. Heck I can even set you up with help on Residential Real Estate. Give me a call. I would love to help. You can reach me by my contact information above.
The end of next month, I will be traveling to Brazil with a group from GLI (Greater Louisville Inc - our local Chamber of Commerce) for a 9 day trip to Sao Paolo and Rio de Janeiro. This is a cultural exchange trip for members of the Louisville community.
I am looking forward to meeting the people going on the trip as well as those we will meet while we are in Brazil. I have been surprised to learn we have a small Brazilian community in Louisville. I have discovered this quite by chance when several Brazilians have introduced themselves after hearing me casually mention my upcoming trip.
Admittedly, I am primarily going because of GLI's trip offering BUT here is why I want to go -
In recent years, Brazil's economy has been booming while at the same time the US dollar has been devaluing. The combination of these factors has caused US goods and real estate to be very inexpensive for Brazilians. Brazilians have responded by investing heavily in the US. A buddy of mine from the Miami area told me that in one year, Brazilians pretty much absorbed the entire vacant inventory of condos that were left from the housing crisis. In fact, he tells me that there are now billboards all over Miami in Portuguese.
It may be a small chance that someone in Brazil will want to do something in Louisville, KY but perhaps a bigger chance that someone in Brazil will want to do something in the US. Also, with Brazil's economy booming, if someone in the US wants to invest there, I think it would be nice to have met a few contacts. I have some referral networks that would allow me to find people to help with Real Estate all over the world and those are very useful. But I have found that when possible, meeting people face to face makes those connections stronger.
In any event, for me, I get to see first hand the land, people, culture (and real estate) in Brazil and hopefully, I get to build my network of friends and business connections.
SO, with that said, if you happen to know someone interested in real estate in Brazil OR someone in Brazil interested in finding real estate in the US, let me know.
Wish me luck! It's going to be a great trip!
David
David W. McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY 40299
office: (502) 379-6005
cell: (502) 905-5274
e-mail: DMcCoy@ccre.biz
BTW - Call me if you need help with real estate! I am a licensed real estate broker in Kentucky and Indiana. I specialize in Commercial Real Estate and Global property. I work with Buyers, Sellers, Landlords, Tenants and Investors. I handle Office, Industrial, Land, Investment and Retail properties. Heck I can even set you up with help on Residential Real Estate. Give me a call. I would love to help. You can reach me by my contact information above.
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