CIPS is the acronym for Certified International Property Specialist, an internationally recognized designation awarded by the National Association of Realtors.
The CIPS Designation is the only designation of its kind in the real estate community. It’s synonymous with advanced expertise, a global perspective and distinct understanding of a global buyer, and comes with powerful brand recognition with designees in nearly 40 countries. An agent who has earned the CIPS Designation are real estate professionals who deal in all types of real estate, but with one common element: they are focused specifically on the “international” market. Whether traveling abroad to put deals together, assisting foreign investors, helping local buyers invest abroad, or serving an immigrant niche in local markets, CIPS members are consumers’ best resource to ensure they are dealing with a professional skilled in the unique aspects of international real estate.
Real Estate laws and customs are vastly different from state to state, country to country. Many countries do not have any type of regional database of available property, which means the buyer must visit multiple brokerage offices to find out what is on the market. In addition, international transactions tend to be more complex due to currency conversions, visa and financing issues, and differing tax laws.
A Certified International Property Specialist (CIPS) designee has undergone specialized training to complete international transactions, with course study in the following areas:
- Currency and exchange rate issues
- Cross-cultural relationships
- Regional market conditions
- Investment performance
- Tax issues
A solid understanding of international buyers is particularly important in Florida where 23% of all international real estate transactions occur, far exceeding any other state in the U.S. Despite this, according to Realtor.org out of more than 28,000 licensed real estate agents in Miami-Dade County, only 126 are Certified International Property Specialists.
Melanie Dawn Molina Wood holds a Certified International Property Specialist (CIPS) designation, which allows her to provide a great real estate experience to people from all over the world who want to own a slice of Miami’s good life.