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Our world is getting smaller all the time. Advanced communications and travel technologies have made international business transactions almost as easy as dealing within local markets.

That applies to buying and selling homes. While all real estate is local, not all property buyers are. A significant share of home purchases are made by people whose primary residence is outside of the U.S., noted a report from the National Association of Realtors.

“The United States has historically been an attractive place for international investors,” the report stated. “International investors are drawn to the U.S. because of its strong private property rights, independent judiciary, growth-oriented tax law and liquid capital markets. Because of these benefits, foreign investment in the U.S. has increased approximately 40 fold over the last four decades on an inflation-adjusted basis.”

The growing number of international property transactions has motivated major real estate brokerage firms and franchise operations to expand their scope of coverage beyond their former boundaries.

For example, Better Homes and Gardens Real Estate, a major franchise and subsidiary of Realogy Corp., recently announced it has entered its first international market by signing a 25-year-long master franchising agreement for developing its brand in Canada. Better Homes and Gardens Real Estate Canada, a Toronto-based company, is now responsible for franchising, marketing and operating the real estate brand in Canada.

“With three years of growth and best practices under our belt, it was time to turn our attention to markets outside of the United States,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate. “Canada was the natural first step due to its robust housing market and geographic proximity.”

The Canadian market has shown long-term consistency, Chris noted. According to the Canadian Real Estate Association, year-to-date 2011 existing home sales figures continue to run in line with the 10-year average.

To find out more about Jim Woodard, visit www.creators.com.