Illinois REALTORS® learn about an important asset

Wilmsmeyer

Dennis Wilmsmeyer (Photo by Matt Difanis)

Dennis Wilmsmeyer, the Executive Director of America’s Central Port, reminded a group of Illinois REALTORS® of the state’s benefits to domestic and foreign investors, including its status as a designated trade zone.

Wilmsmeyer made his remarks to the Commercial and Industrial Committee and the Global Working Group at the Illinois REALTORS® June Business Meetings.

Bill Caton, Chair of the Commercial and Industrial Committee, and Jim Kinney, Chair of the Global Working Group, introduced Wilmsmeyer, who was formerly a REALTOR®.  Wilmsmeyer joined the Port District in 1999 and became the Executive Director in 2010.

While he, like many of us, lamented the state’s current fiscal situation, he said “the port is strategically located and serves one of the busiest waterways to move over $1 billion dollars’ worth of goods each year.”  His presentation included statistics on the port itself but he also spoke about the value of Illinois and its logistics infrastructure and why Illinois is key to getting products to market, both domestically and internationally. As a designated foreign trade zone, the port allows for the import of goods with the benefit of reduced, deferred or possibly elimination of duties on those goods.

He said the designated foreign trade is a great feature our members need to be aware of when helping their foreign investor clients make decisions on where to locate their U.S. facilities.  Known as Foreign Trade Zone #31, it is part of a network of eight others in the state of Illinois. (Get more information.)

So while, there still are hurdles here in the state that need to be overcome, Illinois REALTORS® need to remember the assets we have in order to serve clients as “trusted advisors,” Wilmsmeyer said. “We consider REALTORS® our partners, and we are happy to provide tours to educate you on all we have to offer for your clients.”

He also stressed the importance of residential REALTORS®, their knowledge of the surrounding communities and their ability to share information about the quality of life in the areas where port authorities are located. This information goes a long way since it is part of the decision-making criteria for site selectors and corporate leadership.

 

Registration begins for NICAR CIPS class

Northern Illinois Commercial Association of REALTORS logoCommercial REALTORS® interested in international real estate and working with foreign buyers will have a unique learning opportunity in September.

The Northern Illinois Commercial Association of REALTORS® will host the first commercially-focused Certified International Property Specialist (CIPS) Institute on the Northern Illinois University Campus in Naperville Sept. 19-23. Register on the NICAR website.

The week-long agenda includes five CIPS courses, allowing students to earn this designation in one week, in the classroom with their commercial real estate peers. 

International real estate opportunities are available everywhere and many foreign buyers are looking to purchase property within Illinois. The Certified International Property Specialist (CIPS) Designation provides the knowledge, research, network and tools to globalize a business.

Instructor David Lauster, CCIM, CIPS, CRS, helped write the curriculum and teach it. He was the recipient of the 2005 CIPS Instructor of the Year award. 

The week-long curriculum will focus on local markets, transaction tools, Europe, Asia/Pacific and the Americas and their relationships with international real estate, currency and exchange rate issues, cross-cultural relationships and etiquette, regional market condition, investment performance and tax issues.

The course will be held from 9 a.m. to 5 p.m. Sept. 19-23 on the NIU Campus at 1120 E. Diehl Road.  

Early bird registration is $645 and ends on July 31, 2016. After July 31, registration will be $695. Click here to register. For more information about the benefits of earning a CIPS designation, visit www.realtor.org/designations.

CCIM offers Development Course opportunity to REALTORS®

CCIM intro to development workshopIllinois REALTORS® who want to understand commercial real estate development better can register for the CCIM Institute’s July class, “Introduction to Development Workshop,” in downtown Chicago.

The July 14-16 course will be offered to REALTORS® for $1,135, and will be held at the Levine Learning Center, 430 N. Michigan Ave., 8th Floor.

The course is part of the CCIM Development Specialty Track, which provides real estate developers, investors and consultants with an understanding of the resources and business practices required for successful development projects. The program is based on the Real Estate Development Matrix put together at the Johns Hopkins Carey Business School.

The course is scheduled to start at 8:30 a.m. each day.  For more details, go to this site.

Morning Minute: Wagner moderates Washington, D.C. panel discussion

Dan Wagner (far left) leads a discussion about several topics, including the preservation of 1031 like-kind exchanges with tax reform.

Dan Wagner (far left) leads a discussion about several topics, including the preservation of 1031 like-kind exchanges with tax reform.

REALTOR® Dan Wagner, treasurer-nominee for the Illinois REALTORS®, moderated a panel discussion at the Investment Program Association’s Executive Leadership Summit and Fly-in earlier this week in Washington, D.C.

The panel addressed the idea of tax reform and how to protect 1031 like-kind exchanges, as well as the impact of the Department of Labor Fiduciary Rule. Others on the panel included: Senior Vice President of the U.S. Chamber of Commerce David Hirschmann, Chief Executive Officer National Association of Real Estate Investment Trusts Steve Wechsler and CEO Financial Services Institute Dale Brown.

Wagner is senior vice president for government relations for the Inland Real Estate Group of Companies.

In other headlines:

Lundstedt: Learn how to analyze real estate as investments and then help clients see the benefits

IMG_0131One key to helping prospective real estate investors is recognizing and being able to easily explain the four financial benefits of owning a rental property, said Tom Lundstedt at the 2016 IAR Conference & Expo in Collinsville Thursday morning.

Lundstedt’s focus during his presentation, “A Residential REALTOR’S® Guide to Working with Investors,” was to help IAR members gain comfort with the idea of selling of real estate as investments. He started by listing the four financial benefits of rental properties as income, principal reduction, tax savings and appreciation. He went further by demonstrating to his audience how to use his Investment Property Worksheet.

By using the worksheet, he showed three different scenarios a REALTOR® could show to prospective customers: borrowing money to purchase a rental property, paying cash or using equity in the family home. The veteran trainer peppered his presentation with humor, joking about his own brief major league baseball career and wondering why only 4 percent of REALTORS® own investment property.

“We can’t even sell it to ourselves!” he quipped.

Lundstedt tackled a few myths that real estate professionals must overcome in their own understanding of investment properties.

He noted that his approach will work on any scale of investment property, from a tiny rental condo to a Chicago skyscraper.

He has earned the Certified Commercial Investment Member designation from the National Association of REALTORS®.

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