As real-estate evolves more world wide with the improved transparency and potential of the evolving world wide web, real estate professionals have vast possibilities to capture lucrative international, cross country business that they didn’t until now have access to.
The business of trading international real estate is ever-increasing, mostly as a consequence of the connectivity of the globe and the Internet.
With totals like 50% improvement in quantity every single year and boasting an overall share of the actual real estate gross sales of the U.S. at ten percent, the international buyer is gradually becoming a thing to consider for any realtor attempting to enter this sector valued at north of $150 billion in 2017. And if the National Association of Realtors (NAR) is reporting these numbers then undoubtedly you must agree that the international homebuyer is deserving of consideration whenever promoting real estate.
A very interesting aspect to finding your own international real estate buyers is how lucrative it may be for the broker. A notable portion of international buyers and sellers are well-off global elites looking for promising opportunities and luxurious vacation homes.
Never presume this will be simple to access and break right into, the international real estate investor sector.
Approaching this sector of the market however will require overcoming various challenges including language and currency to name a couple. Often though most international investors are not likely to buy in to a country without doing their homework and having strategies in place to prevent any “lost in translation” concerns.
“Oh don’t even get me started on language barriers when dealing in international real estate. When I first got started 5 years ago, the challenges of communication were pinnacle in any international deal.” claims Mark Walker of Kelowna Condos.
For example, China — a nation with a far different customs, language and real estate etiquette than the USA — dominated the USA foreign market with $75.6 billion in activity in 2017, almost half of all USA real estate sold to international buyers that year.
So is there a better strategy for agents to position themselves for this sizeable, lucrative market?
CPROP’s end-to-end digital exchange management system was created to promote real estate agents to international leads and help them to safely and transparently close deals.
Essentially it applies technology to streamline the sales process of service providers, from the starting of a deal to conclusion. The following below are a number of assorted techniques any real estate professionals can take advantage.
Sign up with a honest international base
“Raising your exposure to the international target audience is a challenge. Any realtors seeking to become players in the international real estate community, must begin their research by exploring online locations where interested buyers and vendors may hook up. Once uncovered…be part of the dialogue and gain trust in the community.” says Armando, a reknown realtor in Lo de Marcos, MX.
Understand also that given your platform also boasts automated translations, this may also be a great perk.
Think confidence and security
A long distance buy, predominantly among the parties in different countries, are often a course for miscommunication and, in the worst cases, fraud.
Preparation is vital to winning international real estate opportunities and included in preparing you have to take into consideration trust and security.
Among the finest ways to secure transactions is with blockchain technology. Any time a contract is concluded and executed, it is able to be saved to the blockchain, creating an immutable distributed ledger confirmed by a network of perhaps thousands of computer systems, therefore effectively controlling any hidden changes to a contract.
What is more another excellent upside to using crypto cash in transactions is the safety measures for the investor in knowing their money is safe and secure.
Find trusted, successful cooperation
One thing is closing contracts within the country but it’s a uniquely different thing when completing international transactions and these deals need to have a whole lot more care to secure a clean closing. Brett Berkowitz is a software developer from Costa Rica Real Estate dot COM (CRREC) a company focused on transforming the real estate buyers market of Costa Rica by implementing revolutionary SaaS to make transactions via digital currency easier for everyone.
Good agents, when asked, without notice can let you know the position of their impending contacts, leads and deals. Could you?
This all being said, won’t you agree with the fact that an all-inclusive electronic transactions SaaS system built to accommodate international real estate transactions from beginning to end, certainly be a welcome addition to all brokers? Let’s think about it, any real estate broker working with international home buyers and vendors can reap the benefits of an all-encompassing SaaS app that not only makes ease of communications but also assures security for both the sides.