Real estate just got bigger in Texas.

The Texas Association of Realtors and Mexico’s real estate association, La Associación Mexican de Profesionales Inmobiliarios (AMPI), announced a new partnership agreement this month to further industry cooperation and collaboration in the region.

“In recent years, we’ve seen increasing interest in cross-border real estate opportunities,” said Joe Stewart, 2012 chairman of the Texas Association of Realtors, “both Mexicans purchasing property here in the U.S. and Americans purchasing property in Mexico.”

The new alliance will allow the associations to share information, best practices, and marketing techniques. It will also help both organizations educate their members about international real estate opportunities.

Seventy-five individual partnerships were established between local Texas Realtor associations and local chapters of AMPI during the Texas Realtors’ conference earlier this month.

“These partnerships will help Texas Realtors and AMPI members work together to serve [their] clients,” Stewart said. “It also further elevates awareness of international real estate, which will lead to more educational opportunities for our members and more resources for property owners interested in international markets.”

Collaborative alliances like this one are not new to associations, and research has shown that productive partnerships can have a significant impact on how associations serve their members and grow nondues revenue.

(Photodisc)