PSAR is proud to announce the signing of a bi-national memorandum of understanding (MOU) agreement with La Asociación Panameña de Corredores y Promotores de Bíenes Raices (ACOBIR, translated: Panamanian Association of Real Estate Brokers and Developers).
ACOBIR, with about 500 members, is the Republic of Panama’s nationwide real estate trade association. It was founded in 1973. ACOBIR’s multiple listing service currently serves roughly 400 brokers affiliated with more than 200 real estate agencies in the transcontinental country that connects Central America and South America.
The MOU calls for a cooperative alliance between PSAR and ACOBIR to include business collaboration and facilitation for the benefit of each association’s members, as well as sharing information about properties, referrals about investment opportunities, and insights into local practices and laws.
In addition, the MOU calls for scheduling trade missions and joint representation at professional events and conferences, including the Expo Immobiliaria ACOBIR and National Association of REALTORS® meetings.
Also, the MOU calls for further promotion of professional designations available through NAR, including the International Realtor Member (IRM) and the Certified International Property Specialist (CIPS) Institute designations.
Both the IRM and CIPS professional designations recognize its designees as expert resources in the international real estate market with information, research, network, and tools to globalize their real estate practices and an understanding of financial, legal, and cultural differences for real estate transactions in various countries.
The MOU between PSAR and ACOBIR was signed by Fransisco Cheng, ACOBIR president, and Ditas Yamane, 2021 PSAR president.
“We are excited to establish a mutually beneficial relationship for the members of both associations,” said Yamane.
“We affirm the value of international collaboration,” said Cheng, “and we look forward to working collaboratively to generate more transnational business opportunities for our members.”
ACOBIR currently has several existing affiliations with societies and councils in the Republic of Panama, including the U.S. Business Council in Panama, Panamanian Chamber of Tourism and Construction Industry Integremial Alliance. ACOBIR’s international affiliations include the International Federation of Realtors and Central American Federation of Panama and the Caribbean of Chambers and Real Estate Brokers, as well as NAR.
PSAR also has previous existing MOUs with other international entities. In 2014, PSAR signed an MOU with Mexico’s national real estate association, the Asociacion Mexicana de Profesionales Immobiliarios (AMPI, translated: Mexican Association of Realtors). In 2018, PSAR signed a cross-border MOU with CEPIBC, the Consejo Estatal de Profesionales Inmobiliarios de Baja California, (CEPIBC), a statewide real estate trade group in the Mexican state of Baja California.
The MOU between PSAR and Panama was initiated and facilitated by PSAR members who are actively involved with the association’s Global Real Estate Council (GREC). The GREC serves PSAR members who are interested in cross-border opportunities and who want to network with other international real estate practitioners. Founded in 2013, GREC provides PSAR members with a platform to connect with individuals internationally and the opportunity to learn and expand their niche market in real estate internationally.
PSAR’s GREC is dedicated to assisting the needs of PSAR members who desire to expand their international outreach and help international capital investment clients make informed transactions with effective counsel across multiple jurisdictions. The vision of the Council is to provide and facilitate educational opportunities to enable PSAR members to expand their practice and organize global-themed events.
In recent years, GREC has hosted several educational events designed to assist PSAR members in helping international capital investment clients to make informed transactions with effective counsel across multiple jurisdictions. The training sessions have focused on cultural customs and diversity, as well as panel discussions and forums with international partners.