Not that long ago, real estate agents did not have the means and resources the Internet now delivers for them, to contact international real estate market players.
This particular business opportunity is considerable.
With figures like 50% gains in volume annually and providing an overall share of the overall real estate earnings of the USA at ten percent, the international homebuyer is rapidly becoming a factor to consider for any real estate broker looking to enter this segment valued at more than $150 billion in 2017. That is based upon NAR’s 2017 Profile of International Activity in USA Domestic Real Estate. In fact, our research shows the strongest sales volume per capita going to the state of Texas and most specifically Round Top ranches for sale segment which is north of $1 million on average per sale for a population of only 93 people.
International buyers in real estate typically lend to a more rewarding outcome for the real estate agents. A prominent amount of international buyers and sellers are affluent international elites looking for appealing investments and luxurious vacation homes.
You shouldn’t assume this will be easy to find and break in to, the foreign real estate investor sector.
Reaching this part of the industry however will require overcoming various challenges including language and currency to name a few. Ordinarily though a lot of international buyers are not likely to buy in to a country without doing their research and having strategies in place to eliminate any “lost in translation” concerns.
China dominates the news headlines across the globe when it comes to international business and in real estate this is also true considering the data reveals that of the overall sales volume in the United States to international investors, China retains 50% of that. All even with barriers such as language and social variances.
Right about now you are probably wondering how to tap this highly lucrative sector of the real estate marketplace.
CPROP’s end-to-end electronic exchange management system is designed to present real estate professionals to international prospects and help them to securely and transparently close deals.
The short solution is that it demands technological innovations that facilitates interaction and connects a group of vetted providers to work together on ushering a deal from contact to close. These are a number of distinctive methods any brokers can capitalize on.
Join a transparent international platform
Increasing your exposure to the international target audience is not easy. You should not go getting all dollars signs in your eyes instead of completely researching where on the net these networks might be. Once you’ve located them you’re going to have to hedge inwards and earn trust in the international real estate buyer community. In the case of the tiny Latin American nation of Costa Rica, finding your audience specifically interested in and actively searching, or talking about, real estate in Costa Rica, can be a little easier given the country’s small populous.
Something you will want to look out for is segments of the internet with service providers which also supports automatic translations.
Think confidence and security
As the old saying goes, long distance relationships seldom last, then again in this case they can and do you you simply have to plan especially in the case of dealing with multiple languages.
Be aware of that inside of each international real estate deal there ought to be internal security and external trust components to address to assure unwrinkled transactions.
The industry recently has been introduced with a unique method of securing transactions on the net. Blockchain technology has permanently changed the way we move money digitally. Whenever a contract is completed and carried through, it might be certified to the blockchain, generating an immutable delivered record confirmed by a system of possibly thousands of computer systems, hence effectively combating any unknown changes to a contract.
Blockchain technology is also favourable to the buyer by delivering a protected trusted method to place finances in escrow.
Seek accountable, efficient collaboration
There’s no questioning the difficulty in closing even a regional deal however when you get started on doing business with international investors and sellers you’ll discover a laundry list of further obstacles you’ll have to traverse particularly language barriers.
Knowing all the moving parts to your impending clients, leads and deals is crucial to your success. Have you any idea about the real time standing of anyone in your pipeline at the moment? If you’re not you really should.
This all being said, wouldn’t you recognize that an all-inclusive electronic transactions SaaS platform built to accommodate international real estate transactions from beginning to end, become a welcome addition to all real estate brokers? Operation openness simplifies interactions, loosens realtor time and assists in easing everyones mind.