Certified International Property Specialist (CIPS)

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In an increasingly globalized economy, real estate is no longer a local business. From foreign investors purchasing luxury condos in Miami to retirees seeking villas in Tuscany, the demand for real estate professionals who understand the complexities of cross-border transactions is at an all-time high. The Certified International Property Specialist (CIPS) designation is the premier credential for practitioners looking to master this niche.

This guide provides a comprehensive breakdown of everything you need to know about the CIPS designation, from the rigorous coursework and exam structure to the application process and long-term career benefits.


What is the Certified International Property Specialist (CIPS)?

  • Official Exam Name & Acronym: Certified International Property Specialist (CIPS)
  • Conducting Body/Authority: The National Association of REALTORS® (NAR), specifically administered through the NAR Global department. Established in 1908, NAR is America’s largest trade association.
  • Purpose of Exam: Professional Certification. It is designed to equip real estate professionals with the knowledge, research, network, and tools to globalize their business and handle international real estate transactions.
  • Geographic Validity: Globally recognized. While headquartered in the United States, there are over 4,000 CIPS designees in 45+ countries.
  • Level of Competence: Specialist level. It demonstrates that the practitioner has mastered the cultural, legal, and financial nuances of international real estate.
  • Brief History: The CIPS program was established in the 1990s as the real estate market began to see a surge in foreign investment. It has evolved from a US-centric international course into a global curriculum covering diverse regional markets.

Who Can Take the Certified International Property Specialist (CIPS)? (Eligibility Requirements)

The CIPS is not an entry-level license; it is a professional designation for active practitioners. To earn the CIPS, you must meet specific membership and experience criteria.

Eligibility Checklist

  • Academic Requirements: No specific university degree is required. However, candidates must complete five required CIPS courses (see Section 4).
  • Experience Requirements: Candidates must accumulate 100 points on the CIPS application. Points are awarded for international transactions, fluency in foreign languages, time spent living abroad, and attendance at international conferences.
  • Membership Requirement:
    • U.S. Candidates: Must be a REALTOR® in good standing with the National Association of REALTORS®.
    • Non-U.S. Candidates: Must be an International Affiliate member of NAR.
  • Documentation Checklist:
    * Proof of NAR Membership (NRDS ID number)
    * Completed Application Form (detailing the 100-point requirement)
    * Certificates of completion for all 5 required courses
    * Payment of the application fee
  • Language Proficiency: There is no formal TOEFL/IELTS requirement, but courses and exams are primarily conducted in English. Fluency in other languages earns points toward your 100-point experience requirement.

Summary of Eligibility Requirements

Requirement Details
Professional Status Active Real Estate License (or equivalent in home country)
Association Membership NAR Member (US) or International Affiliate (Non-US)
Experience 100 points across transactions, education, and international background
Coursework Completion of 2 Core and 3 Elective CIPS courses

How to Register for the Certified International Property Specialist (CIPS)

Exam Schedule & Availability

Unlike standardized board exams, CIPS exams are integrated into the courses.
Exam Frequency: Courses are available year-round.
Registration Windows: Open enrollment throughout the year.
Scheduling: If taking courses online through the NAR Learning Center, you can start anytime. If taking them in-person, you must follow the schedule of the local REALTOR® association or private provider.

Exam & Designation Fees

Fee Type Estimated Cost (USD)
Course Fees (per course) $150 – $300 (Total for 5: $750 – $1,500)
One-time Application Fee $75.00
Annual CIPS Dues $220.00 (Pro-rated for first year)
NAR International Affiliate Dues $75.00 (For non-US members only)
Total Estimated Initial Investment $1,045 – $1,795

Booking Process

  1. Course Enrollment: Visit the NAR Learning Center or a local provider to purchase the 5 required courses.
  2. Examination: At the end of each course (whether in-person or online), you must pass a multiple-choice exam.
  3. Application Submission: Once all 5 courses are passed, download the CIPS Application from the NAR website.
  4. Payment: Submit the $75 application fee along with your documentation.

Retake Policy

If you fail a course exam, you are typically allowed to retake it. For online courses, you can retake the assessment immediately. For in-person courses, the provider may charge a nominal fee for a re-exam or require you to audit the class again.

Score Validity

Course completions are valid for three years. You must complete all five courses and submit your application within this three-year window, or you may be required to retake expired courses.


Certified International Property Specialist (CIPS) Exam Format & Structure

Exam Format

Each of the five CIPS courses concludes with an exam.
Delivery Method: Computer-Based (online) or Paper-based (in-person).
Proctoring: In-person courses are proctored by the instructor. Online courses are unproctored but timed.

Timing & Duration

Component Duration
Individual Course Exam 45 – 60 Minutes
Total Exam Time (5 Courses) Approx. 5 Hours
Breaks Self-paced (Online) or Schedule-dependent (In-person)

Question Count & Content Domains

Each exam typically consists of 25 to 50 Multiple Choice Questions (MCQs).

Required Courses (Exams) Topics Covered Weightage
Global Real Estate: Local Markets (Core) International business environment, capital flows, and basic currency issues. 20%
Global Real Estate: Transaction Tools (Core) Investment analysis, tax laws, currency exchange, and visa requirements. 20%
Regional Elective 1 e.g., The Americas and International Real Estate 20%
Regional Elective 2 e.g., Europe and International Real Estate 20%
Regional Elective 3 e.g., Asia/Pacific and International Real Estate 20%

How is the Certified International Property Specialist (CIPS) Scored?

Passing Score

  • The Passing Threshold: 80% is the standard passing score for each course exam.
  • Cut-off Method: Absolute score. You must answer at least 80% of questions correctly to move forward.

Scoring Mechanics

  • Negative Marking: None. There is no penalty for guessing.
  • Partial Credit: Not applicable for MCQ format.
  • Sectional Cut-offs: You must pass each of the five courses individually to qualify for the designation.

Score Reporting

For online exams, results are provided immediately upon completion. For paper-based exams, results are usually processed within 10 business days by NAR.


How Difficult is the Certified International Property Specialist (CIPS)?

Difficulty Assessment

Overall Difficulty Rating: Moderate. The CIPS is not designed to “weed out” candidates but rather to ensure they have a functional understanding of complex international variables. The challenge lies in the application of financial math (currency conversion and ROI) and understanding foreign ownership laws.

Historical Pass Rates

NAR does not publicly release exact pass/fail percentages, but because the curriculum is education-focused, most dedicated students pass on their first or second attempt. The “barrier to entry” is more often the 100-point experience requirement rather than the exams themselves.

Most Challenging Topics

  • Currency Fluctuations: Calculating the impact of exchange rate volatility on a transaction.
  • Tax Treaties: Understanding FIRPTA (in the US) and similar withholding taxes globally.
  • Measurement Conversions: Switching between square feet and square meters, and hectares.

CIPS vs. Similar Certifications

Feature CIPS (NAR) CRS (RRC) ABR (REBAC)
Primary Purpose International Transactions Residential Sales Mastery Buyer Representation
Geographic Focus Global Primarily US/Canada Primarily US/Canada
Difficulty Moderate High (High volume req.) Moderate
Key Benefit Global Referral Network Highest earning potential Buyer-side expertise

How to Prepare for the Certified International Property Specialist (CIPS)

Recommended Study Timeline

  • Intensive Path: 5 days. Many associations offer “CIPS Institute” weeks where all five courses are taught back-to-back.
  • Self-Paced Path: 3 months. Taking one course every two weeks allows for better retention of complex topics like international tax law.

Best Study Resources

  • Official NAR Course Manuals: These are the “Bible” for the exams. Everything on the test is in the manual.
  • NAR Global Data & Reports: Useful for understanding current trends in foreign investment.
  • Financial Calculator: Mastery of a calculator like the HP-12C or TI-BA II Plus is highly recommended for the Transaction Tools course.

What to Expect on CIPS Exam Day

  1. Identity Verification: If taking the exam in a classroom setting, bring a valid government-issued ID.
  2. Materials: You are generally allowed a calculator and scratch paper.
  3. Environment: Online exams should be taken in a quiet, distraction-free environment.
  4. Time Management: With roughly 1-2 minutes per question, you have ample time. Do not rush the math-based questions.

After Passing the Certified International Property Specialist (CIPS)

Passing the exams is only the beginning. To maintain the designation, you must:

  • Submit the Application: Document your 100 points of international experience.
  • Pay Annual Dues: $220/year to remain listed in the CIPS directory and use the logo.
  • Networking: Join the CIPS private Facebook group and attend the NAR Annual Conference to meet referral partners.
  • Career Impact: CIPS designees often see an increase in high-net-worth clientele and referral income from international brokers.

Frequently Asked Questions

1. Do I need to speak a foreign language to get the CIPS?
No. While it helps you earn points on your application, it is not a requirement for the designation.

2. Can I take the courses online?
Yes, all five courses are available through the NAR Learning Center.

3. What is the “100-point” requirement?
It is a points-based system to prove you have international experience. Points are given for transactions involving foreign nationals, living abroad, speaking other languages, or earning other designations like the CRS or ABR.

4. Is the CIPS recognized in Dubai or London?
Yes. NAR has bilateral agreements with over 100 associations in 85 countries, making the CIPS highly respected globally.

5. How long does the CIPS designation last?
It is valid as long as you remain a member of NAR (or an International Affiliate) and pay your $220 annual CIPS dues.

6. What happens if I miss a year of dues?
Your designation will be suspended, and you will be removed from the CIPS directory. You may have to pay a reinstatement fee to reactivate it.

7. Is there a lot of math on the exam?
The “Transaction Tools” course contains the most math, focusing on currency conversion and investment returns (Cap Rates, IRR).

8. Can I use the CIPS logo on my business cards?
Only after your application has been officially approved and your dues are current.

9. Do the regional electives change?
The core courses stay the same, but regional electives focus on The Americas, Europe, and Asia/Pacific/International.

10. Is CIPS worth it for a local agent?
If your local market has any foreign buyers or if you want to refer local clients to properties abroad, the CIPS is extremely valuable for the referral network alone.

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