Last year, foreign buyers spent $74 billion on U.S. properties. The world is more connected than ever. Cross border transactions and investments in international property remain stable and global property marketing has become a requirement.
Often, when one real estate market is hot, another is cold. So you need to impress your selling clients with a robust global marketing strategy that will maximize the exposure of their property to global property buyers.
Foreign buyers are spending more money than locals when it comes to buying a house, and this fact makes these customers really interesting to work with. Due to the rising interest of these customers, there is a growing need to be prepared to work with them.
We need to find them, capture their attention, bring them "aboard", and prepare the necessary legal documents. Having the relevant information ready to assist international customers will help you to close the sale. It is, therefore, necessary to prepare visits in advance, so you won't miss the change of selling.
Foreign buyers need to feel secure and connected
Foreign buyers need to feel secure and connected before they buy. They need to create a relationship with you before they buy. For this reason, it is vital to advertise globally. Being proactive during their visit will increase your chances of closing a deal. Overcome any cultural obstacles through local partnerships. If your customer wants to buy and needs specific documents from their country of origin, ask a colleague in their country to work with you. Partnerships will help you to provide a smooth sell for customers and show how amazing and professional you are.
Foreign buyers: cultural and language constraints
Real estate agents face some challenges while working with international buyers. For you, having a kitchen integrated with a living room can be considered normal, but someone from Spain may have a completely different experience or preference. You have to know a bit what they expect and value, so when they contact you you can easily and rapidly adapt to capture their interest.
You are the one that can guide the customer and it's up to you to convince your international buyer.
Preparing a visit with foreign buyers
Make a list of the criteria
Making a list of the criteria for your foreign buyers is essential. Don't be shy and be sure to ask them a lot of questions.
- What are they exactly looking for?
- What do they expect in a village/city?
- What are the most important features to them?
- Why are they interested in the property?
After doing a complete diagnosis of their needs, wishes, and expectations, show them images/videos specifically on these aspects. Provide them with a full summary that will encourage them to imagine life at the property, including any potential for investment gained with the property.
Have this information ready before planning a visit: General atmosphere, school, shopping, transportation, parking areas, traffic, etc, are some of the details they will be looking for. Knowing the city will help you to show the neighborhood to your customers on the visit day and you will be able to emphasize the characteristics they search for.
The "Visit" day
- The cost of living
- Prepare a shopping list with the average price for food, entertainment, utilities, and maintenance expenses etc.
- Existing schools, and how the educations system works
- List of documents needed
- How the tax system works
Yes, the tape measure is important to check if that old beach furniture fits that space. But it is also crucial that you make people feel a connection to the property. They need to feel that they can be comfortable and that their expectations are being met.
ListGlobally has you covered. We provide you access to a global audience and promote your properties across the largest network of real property portals available.
With ListGlobally you will reach +150M potential buyers every month to a worldwide audience. Get more leads and more sales.
For more information on products and services, or if you have any questions, we invite you to reach out to us or open a chat with us on listglobally.com.
We will help you get started with your enhanced global marketing strategy.