REAL ESTATE

Miami Realtors partner with Australian counterparts

 

mbrannigan@MiamiHerald.com

The Miami Association of Realtors is partnering with the Real Estate Institute of New South Wales, Australia’s largest professional organization for real-estate agents.

The alliance is the first in Australia for Miami Realtors, which has 31,000 members. The Miami group now has 119 international partnerships, which are aimed at promoting cross-border real-estate transactions.

“The idea is to promote Miami as a destination and market and to connect our members to Australia and vice versa,’’ said Miami Realtors’ spokeswoman Lynda Fernandez.

Australians accounted for about 2 percent of foreign buyers of U.S. property last year, according to the National Association of Realtors, and they haven’t been significant players in Florida.

Still, migration between the United States and Australia is a big two-way street.

Australia was the fourth-largest country of origin for people moving to the United States and the No. 3 destination for Americans relocating abroad, according to an International Migration Study released in January by UniGroup Relocation, a St. Louis, Mo.-based relocation services firm.

Foreign buyers are pivotal to South Florida’s real-estate market.

According to NAR’s 2013 Profile of International Buying Activity in Florida, the state led the nation in home sales to foreign buyers, with 23 percent of all international real-estate transactions in the United States. Nearly 30 percent of Florida deals were concentrated in South Florida, the study said.

CORRECTION: An earlier version of this article misstated the number of international partnerships Miami Realtors have.

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