US & Chinese Real Estate Organizations Agree to Form Permanent Select Committee

July 11, 2014 in News

Ashley Breunich from Realogics Sotheby's International Realty reports that, "At the conclusion of a five-day Trade Mission to China, the International Real Estate Federation – U.S. Chapter (FIABCI-USA) and the China Institute of Real Estate Appraisers & Agents (CIREA) agreed to form a Permanent Select Committee on doing business between the United States and China. A group of nine real estate professionals from across the US completed a Trade Mission to China on July 6, 2014. The mission included attending CIREA’s annual real estate agents conference, visits to some of the largest real estate brokerages in Beijing and attending an elective course for FIABCI’s International Real Estate Consultant (FIREC) designation.

Capital flows from China to the US continue to grow. The FIABCI-USA delegation was headed by President Edward Alford from South Hadley, MA. “I am extremely honored to have led this group of high-caliber real estate professionals to Beijing and was overwhelmed by the gracious hospitality of our CIREA hosts. I felt it necessary to assure our hosts that we were interested in mutual cooperation over the long term and welcomed the opportunity to formalize our intent through the formation of a select committee.” The residential market in China is currently undergoing a 30% contraction in sales and there is great concern about how this will affect the overall economy.

In addition to President Alford, the FIABCI-USA delegation included President Elect Ruth Kruger from Aspen, CO; Treasurer Maire Rosol from Park City, UT; Vice-PresidentElizabeth Davidson from Kirkland, WA; Nancy & Peter Suvarnamani from Chicago; Dano Sayles from Hawaii, John Krolick from Incline Village, NV; and Secretary General Bill Endsley from Chicago. The delegation enjoyed sightseeing trips around Beijing and numerous sumptuous Chinese meals with potential new partners and the staff of Beijing Orient US-China Consulting Co., Ltd. which facilitated the Trade Mission.

FIABCI has welcomed over 150 real estate professionals from China as members over the last year and expects to grow significantly as additional groups of Chinese professionals complete FIREC training courses in doing business abroad, ethics, negotiation, financing and valuation. FIABCI provides access and opportunity for real estate professionals in more than 60 countries interested in completing cross border transactions.

The International Real Estate Federation – US Chapter (FIABCI-USA) is a multi-discipline, networking organization for all professionals associated with real estate transactions. The group provides information, connections and concierge services to help individuals, companies and associations expand their global networks. With members in more than 50 countries and World, Regional and National Congresses throughout the year, FIABCI is global, local and connected and can provide access to the highest caliber real estate professional anywhere in the world. FIABCI also enjoys Special Consultative Status with the Economic and Social Council of the United Nations.

For more information about FIABCI-USA, click here."

China Likely to Meet 2014 Growth Targets

June 12, 2014 in Market Trends

The NY Times says that despite debt problems, The World Bank predicts that China will likely meet its 7.5% economic growth target this year. While The World Bank remains optimistic, saying that China’s growth momentum will accelerate as 2014 moves on, many private economists aren’t so sure. Their worry comes from China’s debt, following the 4 trillion renminbi ($585 billion USD) stimulus the government implemented during the financial crisis in 2008-9; a debt that will require China to rethink fiscal and financial policies and systems. Something everyone is excited about? China, traditionally focusing on export and investment, is also turning toward domestic consumption.

Dean Jones Appointed As Director of Network Development: United States for Newly Announced Beijing Sotheby's International Realty

May 07, 2014 in RSIR Kirkland, News

May 14, 2014 (BEIJING, CHINA) – Executives of Beijing Sotheby’s International Realty, the first affiliate of the global realty network to open in Mainland China, has appointed Dean Jones of Seattle-based Realogics Sotheby’s International Realty as its Director of Network Development for the United States. In this capacity Jones will join other Beijing-based international sales team members to cultivate referral networks throughout the US and will operate from the firms new Asia Desk within the Eastside Flagship Branch Office and Connoisseurs of Life Showroom located at 15 Lake Street in downtown Kirkland.

“We are thrilled to be collaborating with Dean Jones from this strategic US gateway marketplace as we build out our network opportunities in North America,” said Kevin Corbett, CEO of Beijing Sotheby’s International Realty. “We remain grateful for his introduction to Sotheby’s International Realty Affiliates, LLC and we share his vision to build a US referral pipeline into Mainland China.”

Both Corbett and Jones will attend private ceremonies being held in Beijing this week acknowledging the commencement of Beijing Sotheby’s International Realty. The team is also sponsoring the much-anticipated Beijing Luxury Property Show being held at the Legendale Hotel on May 16-18, of which the Beijing affiliate is a gala host and featured exhibitor. These events are expected to draw more than 5,000 highly-qualified homebuyers and members of global media whereas only 80 exhibitors will be present. For more information visit: http://beijing.lps-china.com/en

“This appointment and our active participation in events like the Beijing Luxury Property Show have been in development since I first visited China two years ago to explore trends with foreign buyer demand,” says Jones. “We are excited to highlight US lifestyle and investment opportunities while showcasing Pacific Northwest real estate at this pivotal time in the global industry.”

Jones refers to recent decisions by the Canadian government to cancel their popular foreign direct investor program whereas prospective immigrants could secure residency in Canada in exchange for interest-free loans to the government. That abrupt cancellation effectively returned more than 60,000 applications, mostly from wealthy Chinese nationals, compelling them to seek out alternatives for immigration into North America including the EB-5 program by the USCIS. Meanwhile pundits suggest a rebounding US housing market is gaining favor over the record-high US stock market as investors seek a higher propensity for capital appreciation in real estate and prefer the political and economic stability of the US. ”

“American real estate has become a new asset class and increasingly, a preferred financial safe harbor with less volatility than stocks and greater returns than bonds,” adds Jones. “Our properties are viewed as a relative bargain compared to domestic China such as Beijing, Shanghai and Hong Kong. This trend has been prevalent for decades in markets like Vancouver, BC, San Francisco, Los Angeles and New York City. More recently a spillover effect of demand has arrived to alternative and emerging markets like the Seattle/Bellevue metro area. It helps too that we now have numerous direct flights into China, an international culture and a rise of foreign direct investment as many overseas interests discover our booming market fundamentals.”

Asian Real Estate Association Global Summit Round Up

April 30, 2014 in Events

Several members of Realogics Sotheby’s International Realty, including owners Dean and Stacy Jones along with Founding Director Scott Wasner and broker Cassie Daughtrey attended the Asian Real Estate Association of America Global Luxury Summit in New York City April 12-15. Held at the historic Waldorf Astoria Hotel, the event was sponsored by Sotheby’s International Realty and was co-chaired byPhilip White, President & CEO of the global realty network. More than 700 registered guests traveled from around the world to participate in the much-anticipated conference.

“I was struck by the significance of the event being held at the Waldorf Astoria – one of the first, largest and grandest hotels in New York City of which its original location hosted thousands of wealthy investors from Europe more than a hundred years ago,” said Dean Jones. “Fast forward to today, the hotel is again host to another wave of foreign interest, albeit it this time investors are from Asia and most dominantly from Mainland China.”

In addition to Dean Jones' participation on two panels during the event, he also offered a publication for attendees in Chinese and English, which may be viewed below:

Realogics Sotheby’s International Realty Further Establishes its Global Connections →

February 21, 2014 in SIR

Big news for Sotheby’s International Realty Affiliates, LLC as they revealed that Beijing will soon see a Sotheby’s International Realty Office in their city. Dean Jones, Owner and President of Realogics Sotheby’s International Realty, who introduced Plus Investment to the global network nearly two years ago, told the RSIR Blog, “in many ways this timing for Beijing and our own Eastside expansion is very serendipitous . . . we look forward to exploring all these opportunities for the benefit of our brokers and our clients alike. This brand is all about exposure and relationships. This direct conduit to the Capital City of China is a very significant accomplishment for our network.”