The partnership signifies ramped-up cooperation between Realtor associations in both countries.
Alston Boyd is chairman of the International Committee for the Texas Association of Realtors in Austin.
"The agreement is essentially to share information, marketing techniques, educational content and best practices. The people all got together in one room, signed documents together, shook hands, looked each other in the eye, and that's a far cry from just having people who were on a list on a piece of paper. That was probably much more important than just having those documents signed and sent off somewhere, if that makes sense."
Mayberry: "So the alliance would help people on both sides, right? As far as business opportunities."
"Exactly right. It's a business-to-business agreement, essentially, and it's designed to help agents and brokers, Realtors on both sides of the border, exactly."
The Houston Association of Realtors also formed its own separate partnership with Mexican counterparts. HAR's Richard Miranda says the bilateral agreement with different chapters affords opportunities for working more closely with counterparts in Mexico City.
"We're seeking cross-border referrals from them, and vice versa. We have about 12 sister cities that we're going to be developing close relationships with them to give our membership the opportunity to get more business."
There may be some technological differences, but Alston Boyd says there will be sharing of data between Texas Realtors and AMPI — Mexico's real estate association.
"I doubt if we'll be on the same software, but whatever we have in the way of software we are happy to share, and actually their multiple listing system is open to Texans, as well — the one that they have put together for the country AMPI has, and so that's a thing that's come along and just in the past couple of years."
Boyd says both Mexican and Texan brokers will benefit, as will their clients.
"In the end there will be more people — more agents — aware of how to cut out a deal with people in Mexico, and who to call. For an agent in the U.S. with a client who wants to buy in Mexico, 'oh, here, let me call this person.' It's that kind of thing."