As real estate evolves more global along with the increased transparency and impact of the constantly evolving world wide web, real estate professionals have vast possibilities to seize lucrative international, cross country business that they did not until now have access to.
And so real estate agents have come to depend upon greatly on the Internet for numerous things nevertheless this is particularly the case in terms of uncovering possible international real estate investors.
Bearing in mind the figures from 2017 available these days that foreign real estate buyers accounted for around $153 billion of the entire sales in the American market which ultimately is an upturn of the former year of a massive 50 percent. Similarly this symbolizes 10% among all domestic real estate purchases in the USA. That’s as outlined by NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate.
“International investors in real estate generally lend to a more profitable result for the realtors. Thereafter there’s the stats indicating that of all international prospective buyers, the lion’s share of them are affluent individuals aiming to increase their money in international real estate market segments.” this being said by renowned international realtor Gina of Costa Rica Real Estate dot COM and company focused on selling residential real estate in the Central American country of Costa Rica.
Don’t think this is easy to access and break right into, the international real estate investor segment.
Attaining this segment of the industry however will entail overcoming a couple obstacles including language and currency exchange to name a couple. Routinely though most international investors aren’t going to invest in to a country without doing their homework and having measures in place to avoid any “lost in translation” concerns.
For example, China — a country with a vastly different culture, language and real estate process than the USA — dominated the U.S. foreign market with $75.6 billion in activity in 2017, around half of all USA real estate sold to foreign buyers that year.
So is there an even better method for realtors to position themselves for this significant, lucrative market?
CPROP’s end-to-end electronic transaction administration software was made to present real estate agents to international leads and assist them to securely and transparently close deals.
The short solution is that it calls for technological innovation that helps correspondence and links a group of proven service providers to work with others on ushering a deal from contact to close. The following are three ways real estate professionals can seize this tremendous opportunity.
Join a transparent international platform
Maximizing your exposure to the international audience is not always easy. Don’t go getting all dollars signs in your eyes versus comprehensively researching where on the net these groups may exist. Once you’ve uncovered them you will definitely have to hedge inwards and earn trust within the international real estate buyer network.
Bear in mind also that given your platform also features automatic translations, this could certainly also be a big advantage.
Think reliability and safety
Language barriers must be anticipated and taken care of to have any international real estate transaction end with no difficulties and this includes fraud.
Know that inside each international real estate deal there has to be internal security and external trust factors to address to guarantee non-problematic transactions.
Technology shifts at an astonishing rate and lately blockchain technology has joined the mix and forever changed the manner in which realtors do business using the web. When a contract is done and carried through, it will be saved to the blockchain, producing an immutable allotted leger validated by a system of possibly thousands of computers, thus effectively preventing any undetected changes to a contract.
Very likely the most effective aspects to using blockchain technology is for deposits and money held in escrow.
Seek accountable, efficient collaboration
Each realtor recognizes, even concluding regional contracts are often a struggle, but when you venture in to the international real estate buyer/seller market, this might be even moreso true.
Winning brokers, when asked, at any time can let you know the state of their pending contacts, leads and deals. Can you?
This all being said, couldn’t you acknowledge that an all-inclusive electronic transactions SaaS platform built to support international real estate transactions from beginning to end, be a welcome addition to all agents? Let’s think about it, any real estate broker doing work with international prospective buyers and sellers can reap the benefits of a complete SaaS software package that not only simplifies communications as well as ensures security for each sides.