The Miami Association of Realtors is forming a new partnership with the Real Estate Institute of New South Wales, Australia’s largest professional real estate organization.
The partnership is aimed at promoting cross-border real-estate transactions and is the Miami organization’s 119th international alliance, according to the Miami Herald.
“The idea is to promote Miami as a destination and market and to connect our members to Australia and vice versa,’’ said Lynda Fernandez, a spokesperson for the Miami Association of Realtors.
As of last year, Australians accounted for a mere 2 percent of foreign purchases of U.S. property, according to the National Association of Realtors. But with international buyers playing such a pivotal role in the South Florida economy, the association is hoping that Australia’s interest in the region will grow. [Miami Herald] – Christopher Cameron