As real estate matures more global together with the increased transparency and strength of the ever-maturing internet, realtors have tremendous business opportunities to obtain highly profitable international, cross country business to which they did not until now have access to.
The business of selling international real estate is rising, mainly as a consequence of the connectivity of the globe and the Internet.
International buyers acquired $153 billion of USA domestic real estate in the twelve months thru March 2017, a jump of virtually 50 percent based on the previous 12 months and over ten percent of the market industry by sales volume! Assuming the National Association of Realtors (NAR) is proclaiming the above mentioned numbers then surely you must acknowledge that the international home buyer is deserving of consideration when selling real estate.
International buyers in real estate commonly lend to a more profitable end result for the real estate brokers. Thereafter there is the stats stating that of all foreign purchasers, many of them are well-off people seeking to expand their money in international real estate opportunities.
Having said that don’t for a minute assume that breaking in to this market will be easy. It is really not!
The main difference between dealing with the national populous in comparison to internationally, is the language barrier. In spite of this many international home buyers pay people to breakdown the language barrier when seriously deciding on investment in another country.
For instance, China — a nation with a far different culture, language and real estate process than the U.S. — dominated the USA foreign market with $75.6 billion in activity in 2017, nearly half of all USA real estate sold to international buyers that year.
And the phenomenon isn’t exclusive to residential, many realtors claims they’ve seen a massive rise in interest within the commercial real estate sector of Houston, TX.
Allow us to explain how you can enter this section of the real estate market.
CPROP’s end-to-end digital transaction management platform was made to expose real estate agents to international prospects and help them to securely and transparently close deals.
Nowadays the real estate sector relies to a great extent on technology spanning the entire transactional process from start to finish. We’ll set out a couple methods any realtors could tap in to this market segment.
Join a transparent international platform
Raising your exposure to the international target audience is not easy. Realtors trying to get high net worth foreign buyer interest and confidence will want to look for platforms with an international audience and provide a smooth connection to buyers in a simple to use, reliable and trustworthy ecosystem.
If, for example the platform contains a service provider directory with unfiltered client ratings and ratings coupled with automated translations, better still.
Think trust and security
A long distance offer, in particular among the persons in separate countries, are often a recipe for miscommunication plus, in the worst cases, being cheated.
Two truly important items to give consideration to when doing business in international real estate are security and trust. You must protect yourself and your buyer even while preserving the trust of the other side too.
Technology progresses at a remarkable rate and today blockchain technology has entered the mix and forever changed the way that realtors conduct business on the web. Any time a contract is finalized and carried through, it is generally saved to the blockchain, producing an immutable allotted leger confirmed by a network of oftentimes thousands of computers, as a result effectively eliminating any hidden changes to a contract.
Blockchain technology is also helpful to the buyer by creating a secure reliable technique to place finances in escrow.
Find dependable, streamlined collaboration
Every single realtor recognizes, even closing national deals can be a struggle, but when you enter in to the international real estate buyer/seller markets, this is certainly even moreso true.
Have you any idea about your transactions standing in real time, what’s left to complete and who should next do what in the process?
Consider this though, as a real estate agent working in international transactions, wouldn’t it be useful to have a SaaS program that handled all the electronic aspects from beginning to end for any international real estate contract? Operation openness simplifies communication, loosens real estate agent time and eases everybody’s mind.