As real estate evolves more internationally together with the increased transparentness and impact of the constantly evolving world wide web, real estate professionals have immense chances to gain profitable international, long distance business to which they didn’t previously have access to.
This particular income opportunity is important.
Surprising to many is that 10 percent of the overall sales of real estate in the United States Of America is tied to international buyers. On top of that total sales data in 2017 are showing a pattern deserving of your consideration in that they are soaring by almost 50 percent year in year out totaling over $150 billion. And if the National Association of Realtors (NAR) is stating these stats then certainly you must acknowledge that the international home buyer is deserving of consideration whenever selling real estate.
The fact that brokerages relating to foreign buyer deals tend to profit bigger commissions only boosts the attraction of this sector of the industry. Another consideration here is the actuality that a large number of international investors are almost always high value people interested to grow their wealth as a result of making smart opportunities outside of their country of origin.
Except breaking in to this profitable opportunity is a challenge.
The biggest difference between having to deal with the domestic populous as opposed to internationally, is the language barrier. However many international buyers employ people to break-down the language barrier when seriously thinking about investment in another country.
For instance, China — a country with a vastly different customs, language and real estate protocol than the USA — reigned over the U.S. foreign market with $75.6 billion in activity in 2017, about half of all U.S. real estate sold to international buyers that year.
With such a lucrative market out there, how do you get yourself in on it?
CPROP’s end-to-end electronic transaction administration system is made to promote real estate brokers to international prospects and enable them to securely and transparently close deals.
The short solution is that it requires technological innovations that allows interaction and links a group of proven providers to join forces on ushering a deal from contact to close. We will show you a couple of ways any real estate leads professionals might hedge in to this market component.
Join a trustworthy international program
Boosting your direct exposure to the international market is challenging. Any agents seeking to become professionals in the international real estate forum, might start their exploration by identifying online areas where interested investors and sellers may meet up. Once found…join in on the dialogue and gain trust within the community.
Consider also that considering your platform also offers automated translations, this might also be a large benefit.
Think reliability and safety
Language barriers has to be expected and remedied in order to really have any international real estate transaction complete devoid of additional complications like fraud.
That’s why brokers looking to develop their international dealflow need a platform to accomplish these transactions with trust and security mechanisms included.
“Blockchain has been found to be the quintessential secure way to electronically carry out transactions. Blockchain allows for real estate contracts to generally be so significantly protected/encrypted that thwarts any changes be undetected.” states experienced Costa Rica real estate professional Brett Elliott.
And also, agencies could use smart contracts to execute escrow, that provides a secure system for buyers to put up earnest funds.
Get accountable, successful collaboration
Any realtor knows, even closing national offers is often a struggle, but when you enter in to the international real estate buyer/seller markets, this is definitely even more true.
I’d like to ask you one thing: at any particular time are you aware, in real-time, the status of any of your prospects in your pipe?
A digital transaction administration system created for international contracts that helps parties through every step of the closing process is particularly worthwhile here. Process openness simplifies interactions, loosens realtor time and eases everyone’s mind.
FOOTNOTE: in our original posting of this article we mistook our sources and accidentally left out credit to one of our article resources. Armando is a Riviera Nayarit realtor located in Lo de Marcos, Mexico who is an avid, active and vocal ambassador to using Bitcoin or any digital crypto-currency, in real estate transactions. Back in 2013 Galvan Real Estate Services began early adoption of digital currency for real estate purchases and has never looked back.