Two international real estate organizations, The International Consortium of Real Estate Associations (ICREA) and FIABCI, the International Real Estate Federation, took a formal step towards a more collaborative alliance and possibility a unified organization with the signing of an alliance during the ICREA board meetings in Berlin recently. Newly installed 2011-2012 FIABCI world president Alexander Romanenko signed on behalf of FIABCI; 2011 chair Alan Tennant of Calgary signed on behalf of ICREA.

During the past 18 months the two organizations have met periodically to discuss opportunities to co-operate in order to optimize the combined strength of the two groups and maximize the benefits for the professional real estate community throughout the world, say the associations in a statement.

Both groups have approved direct membership affiliation in each other’s organization. Immediate past ICREA chair Peter Bolton King has been appointed to represent ICREA on the FIABCI board.  Romanenko now has a seat on the ICREA board.

The statement says the foundation of co-operation between FIABCI and ICREA is a shared core vision of the need for a global leading organization that embraces all sectors of the property industry. “Recognizing the economic and political challenges facing industry professional groups, both organizations acknowledge the benefit of co-ordinated activities to achieve an economy of scale for their respective member associations and individual practitioner members,” says the statement.

In a message sent to both groups’ member organizations, Romanenko and Tennant say that “while the future will be exciting and different, there is no reason for our existing organizations to lose our history or organizational cultures. Our members, leadership and staffs have much emotional and intellectual equity in both FIABCI and ICREA. Thus, every effort must be made to move forward with respect for our traditions.”

Both organizations are dedicated to promoting and facilitating international trade in property, to delivering services for cross-border transactions and referrals in a more efficient and effective matter, and to representing the real estate industry worldwide and setting standards for property processes internationally.

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