The American National Association of Realtors (NAR) announced plans to open an office in Tokyo by the end of the year. The Tokyo branch will be set up to increase the number of foreign real estate transactions.
The office in Tokyo will provide a link between the Ministry of Land, Infrastructure, Transport and Tourism (MLIT), various real estate organizations in Japan and NAR’s headoffice in the US. NAR is also considering introducing special qualifications for those dealing with international real estate transactions and developing and authorizing various qualifications for real estate brokers in Japan.
International properties are available to view on Realtor.com’s international page. This page was opened in November 2011, and has more than one million properties listed across 17 countries. Approximately 800,000 of the 14 million monthly page views are from overseas.
NAR is also considering introducing a listing portal for various industry groups within Japan.
Source: The Asahi Shimbun, April 18, 2012.