As real-estate grows more world wide along with the increased transparency and power of the ever-maturing world wide web, real estate professionals have vast potential to seize highly profitable international, long-distance business to which they did not until now have access to.
Which is the case in any industry, when opportunity presents itself like it has in international real estate, it can’t go overlooked.
Astounding to many would be the fact that 10 percent of the total sales of real estate in the nation is linked to international buyers. Additionally total sales data in 2017 are exhibiting a trend worthy of your attention in that they are soaring by nearly fifty percent year after year totaling more than $150 billion. These statistics are sourced from the National Association of Realtors and should be deemed a good sign of what the future holds for real estate sales to foreign investors.
Probably the most appealing aspect to doing business with international clientele, from the realtor’s perspective, is transactions including an international client have a tendency to return more substantial commissions. Not to mention the reality that many international investors are well-off wealthy globalists on the lookout for rewarding opportunities and premium luxury second or getaway properties.
Still getting in to this highly profitable business is complex.
Attaining this sector of the marketplace however will entail overcoming a few obstacles including language and currency exchange to name a couple. On average though most international buyers aren’t going to purchase in to a country without doing their research and having procedures in place to prevent any “lost in translation” troubles.
For example, China — a country with a vastly different culture, language and real estate process than the USA — dominated the USA foreign marketplace with $75.6 billion in activity in 2017, about half of all USA real estate sold to foreign buyers that year.
Domestic markets clearly are showing upticks in interest but additional and from the other side of the coin Latin America has also begun to see the same. Galvan Real Estate, an agency selling real estate in Lo de Marcos, Mexico along the Riviera Nayarit.
“Honestly we can only credit the recent rise in digital currency to the amount of real estate transactions we’re doing here in Galvan because this year we’re looking to do record numbers.” claims Robert.
With such a lucrative marketplace in existence, precisely how do you hedge in on it?
CPROP’s end-to-end digital transaction administration suite is fashioned to present real estate brokers to international prospects and assist them to securely and transparently close deals.
Today the real estate vertical depends to a great extent on technology through the overall transactional process from start to finish. The following below are a number of distinctive methods any real estate brokers can take advantage.
“Now don’t go thinking it will be simple to get in to the international real estate segment. Realtors thinking about stepping into the market of dealing with overseas buyers and sellers need to think outside the box and search segments of the World Wide Web where these specialized communities may meet.” says Gonzalo Gutierrez, a real estate attorney in Costa Rica.
If, for example the system boasts a service provider directory with unfiltered consumer ratings and reviews and also automated translations, better still.
As the old saying goes, long distance relationships scarcely last, however in this case they can and do you simply just have to get ready particularly in the case of dealing with multiple languages.
That may be why brokers looking to build their international deal flow need a platform to accomplish these transactions with trust and security mechanisms baked in.
One of the greatest ways to secure transactions lies with blockchain technology. Blockchain enables real estate contracts to generally be so significantly protected/encrypted that blocks any changes be undiscovered.
Additionally another good upside to making use of crypto money in transactions is the safety measures for the investor in knowing their money is protected.
Closing sales with local buyers is tricky enough, however when buyers are from outside the country, real estate agents need to take still greater attention to provide a unwrinkled transaction.
I would ike to ask you one thing: at any particular time are you aware, in real time, the standing of any of your leads in your pipeline?
Contemplate this though, as a realtor doing business in international transactions, wouldn’t it be useful to have a SaaS application that handled all the digital areas from beginning to end for any sort of international real estate deal? Let’s be realistic, any real estate broker doing work with international investors and vendors would be able to reap the benefits of an all-inclusive SaaS app that not only makes easier communications but at the same time assures security for the two sides.