Back before the Internet was around, agents had a difficult time getting potential investors from outside the country.
As is also the case in any industry, when opportunity occurs like it has in international real estate, it cannot go overlooked.
Astounding to many would be the fact that 10 percent of the total sales of real estate in the United States is linked to international buyers. Furthermore total sales numbers in 2017 are showing a trend deserving of your attention because they are escalating by nearly 50% year after year adding up to more than $150 billion. And of course, if the National Association of Realtors (NAR) is reporting the aforementioned figures then surely you must recognize that the international client is deserving of consideration when selling real estate.
A really enticing aspect to finding your own international real estate clients is how lucrative it can be for the agency. And then there’s the statistic stating that of all foreign prospective buyers, the lion’s share of them are affluent people looking to grow their money in foreign real estate opportunities.
Yet adding the foreign investor to your menu isn’t going to be as simple as finding them can be complicated.
Getting in front of good international buyer leads is complex and could very well include added concerns such as language barriers that domestic deals just don’t encounter.
What country rules international real estate buyers in the United States? Why China silly. You heard that right, China holds a huge 50% of the total sales volume credited to international buyers and yes, in spite of all the variations between how business is undertaken in both countries and language.
Lets explain how you can enter this segment of the real estate market.
CPROP’s end-to-end digital transaction management system is designed to present real estate agents to international prospects and enable them to securely and transparently close deals.
The short answer is that it requires tech that encourages correspondence and links a group of proven providers to join forces on ushering a deal from contact to close. Listed here are a host of different tactics any real estate professionals can take advantage.
Participate in a trustworthy international console
Now you should not go thinking it will be simple to get in to the international real estate segment. Realtors interested in entering the market of catering to overseas buyers and sellers must think creatively and search segments of the Web where these pocket networks may gather.
If the system boasts a company directory with unfiltered buyers ratings and reviews plus automated translations, better still.
Fernando Lopez, a lawyer in Costa Rica who understands the importance of security and transparency in international real estate transactions, had this to say…
Early on we realized the forward momentum of digital currency and in particular Bitcoin and therefore took it upon ourselves to educate ourselves, and the firm, in how this will change how we conclude foreign real estate deals.
Think confidence and security
As the old saying goes, long distance relationships hardly ever last, still in this case they can and do you simply have to get ready specifically in the case of dealing with multiple languages.
Understand that within every international real estate deal there must be internal security and external trust elements to tackle to ensure consistent transactions.
Among the finest ways to secure transactions lies with blockchain technology. Blockchain technology enables security at ranges never recognized prior to this. Real estate contracts when written harnessing this technology, are forged for good in the encoding and avoiding any changes to the contract from going undetected.
Blockchain technology is also ideal to the investor by providing a dependable reliable method to position funding in escrow.
Get accountable, streamlined cooperation
Closing sales with local buyers is tricky enough, but when buyers are international, real estate professionals have to take much greater attention to provide a unwrinkled transaction.
Permit me to ask you something: at any given time are you aware, in real time, the status of any of your prospects in your pipe?
All this being said, won’t you agree that an all inclusive online digital transactions SaaS system built to accommodate international real estate transactions from beginning to end, deemed a welcome addition to all real estate brokers? Routine openness simplifies communications, loosens realtor time and assists in easing everyones mind.