NAR International Statement of Policy:
Adopted 11/2001

The market for real property and real estate finance has been and is increasingly international. We believe that the same basic principles that we espouse nationally, which are support for private ownership, the free enterprise system, an effective title system, and efficient mortgage financing have worldwide application. Recognition continues to grow worldwide that these principles are fundamental to economic growth and development, and that they provide underlying support for civic stability and democratic values.

We are convinced that the advancement of these principles internationally directly benefits the domestic real estate market. However, progress is not uniform. Many countries would welcome public and private assistance as they reform their systems to embrace these elements. We should vigorously advocate these principles in the international community, with special emphasis on the importance of the market-making function of real estate professionals. We should support public foreign assistance programs consistence with this objective as an affirmative element of US foreign policy. And we should take a highly visible leadership role internationally in the development of institutions and policies supporting these principles.

We believe that it is in the interest of the real estate industry worldwide to work toward uniform standards for business and professional activities in the profession, and to take such other steps, including the development of technical standards for the transmission of data, as will facilitate international business. We support examination-based licensing of real estate professionals at appropriate levels of government worldwide, and seek to encourage international referrals between licensed U.S. and non-U.S. professionals.

We encourage post-license training and professional development worldwide, and believe that organized real estate associations are best positioned to provide this education. We also believe that the U.S. education programs offered by NAR and its Affiliates can be particularly valuable to developing markets and are actively working to export these educational programs through various cost-effective and revenue-generating means.

We support the rights of non-U.S. investors to acquire U.S. real property and the right of U.S. investors to acquire property abroad. We oppose laws and regulations that in any way hinder those rights. We also support the free flow of international finance for real estate and oppose any laws and regulations which impede that flow.

We believe that non U.S. investors in U.S. real estate should be subject to the same rates of taxation as US. Investors. As far as is practically possible, systems for taxing non U.S. investors should be no more onerous than those applied to U.S. investors. In addition, any unique reporting and disclosure requirements on non-U.S. investors and/or their agents should be kept to a minimum.