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What to Know About Working With Affluent International Buyers

As a successful real estate professional, international buyers could become an integral part of your business; however, it can be a bit intimidating to figure out how to capture this market. Just as in any real estate market niche, networking and connections are imperative to forming lasting relationships with affluent international prospects.

What are some ways to meet an international buyer?
Networking is essential. Once you’ve targeted your feeder market, finding buyers can be exponentially easier, as one client can lead to 10 other potential clients. Attending real estate events in the desired market can be a good move, as meeting in person generally forges strong relationships. Can’t make the trip? Try using social media or tools such as Proxio Connect to virtually begin relationships with agents based in different countries.

How do I break into a market if I don’t speak the language?
Clients want to feel respected, listened to and comfortable, and there are ways to check those boxes if you get creative. For example, research their culture and what’s expected as a common courtesy before approaching them to work together. “Kiss, Bow, or Shake Hands: The Bestselling Guide to Doing Business in More Than 60 Countries” is an excellent one-stop resource written by Terri Morrison. Learn if it’s appropriate to send a gift, or if it would be considered offensive, as well as many other potential missteps you could make—and how to avoid them.

What are some technology hacks to attract international buyers?
First, making sure your business is mobile-friendly is key when looking to attract an international audience. A simple layout usually works best, especially when prospective clients might not speak the same language. Visual-heavy content is also a good idea, as pictures speak volumes to what you offer as a real estate agent. In general, making sure your social media channels are cohesive and up to date is an easy way to ensure that your brand is taken seriously by potential buyers.

Which international markets are attractive?
China, in particular, has shown immense growth, currently home to 26 of the 30 fastest-growing cities. India is also growing quickly and shows potential to be a powerhouse when it comes to luxury real estate. There are specific markets in the U.S. that attract international buyers at all economic levels, as well. You can get updated data on these luxury markets through our monthly Luxury Market Report, and for information on international markets, Wealth-X and Wealth Engine both produce outstanding and comprehensive reports on global wealth.

Finding and locking in international business comes down to opportunity meeting preparation. Catering to the needs of the international client may require you to do more research, invest in different tools or get on an airplane to visit your target market; however, the results could take your real estate career to the next level.

Diane Hartley is president of The Institute for Luxury Home Marketing, an independent authority in training and designation for real estate agents working in the luxury residential market. She is passionate about luxury marketing and has more than 20 years of experience working with the affluent market. For more information, please visit www.luxuryhomemarketing.com.

The post What to Know About Working With Affluent International Buyers appeared first on RISMedia.

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