The Web transformed various aspects of real estate but perhaps the most affected would be the ability for realtors selling international real estate, to touch a larger more diverse segment of investor without much difficulty.
This income opportunity is significant.
With figures like 50 percent gains in volume year in year out and providing a total share of the total real estate gross sales of the U.S. at 10%, the international client is increasingly becoming a consideration for any broker looking to enter this segment worth more than $150 billion in 2017. That’s based upon NAR’s 2017 Profile of International Activity in USA Residential Real Estate.
Enhancing the lure of this large and thriving market segment, many of these deals provide realtors a big pay day. Not to mention the reality that many foreign investors are well-off wealthy elites looking to buy worthwhile opportunities or even premium luxurious second or vacation properties.
Then again adding the foreign investor to your arsenal probably will not be as straight forward as finding them can be complicated.
Armando Galvan, a realtor in Riviera Nayarit Mexico, had this to say on the subject…
Honestly I was naive at the start and thought attracting foreign buyers would be simple…I couldn’t have been more wrong. It’s tough…real tough.
Reaching this part of the market however will require overcoming some obstacles including language and currency to name a couple. In general though many international buyers will never buy in to a country without doing their homework and having steps in place to prevent any “lost in translation” concerns.
China dominates the news around the world when it comes to international business and in real estate this runs specifically true considering the data indicates that of the total sales volume in the United States to international investors, China has 50% of that. All despite limitations such as language and social distinctions.
With such a profitable marketplace out there, exactly how do you get yourself in on it?
CPROP’s end-to-end digital exchange management platform is fashioned to present real estate professionals to international leads and encourage them to securely and transparently close deals.
As a technology developer in the real estate vertical, Don Halbert of TRESEO, states the future of real estate will be without a doubt, in the paperless, secure cloud using blockchain technology to ensure accuracy and security for any real estate deal.
The quick solution is that it usually requires technological innovation that facilitates communications and links a group of proven companies to collaborate on ushering a deal from contact to close. The following are a number of distinctive tactics any agents can capitalize on.
Enlist in a crystal clear international platform
Now do not go thinking it will be easy to get in to the international real estate sector. Don’t go getting all dollars signs in your eyes instead of meticulously researching where on the net these communities may be. Once you’ve uncovered them you will have to hedge inwards and earn trust in the international real estate buyer community.
If the system features a provider directory with unfiltered consumer ratings and recommendations on top of automated translations, even better.
Think reliability and security
As the old saying goes, long distance relationships almost never last, but in this case they can and do you only have to prepare especially in the case of cross language communications.
Realize that in every international real estate deal there has to be internal security and external trust details to tackle to guarantee easy transactions.
One of the most effective ways to protect transactions is with blockchain technology. Whenever a contract is finished and executed, it could be saved to the blockchain, making an immutable distributed record validated by a network of oftentimes thousands of computer systems, therefore effectively controlling any hidden changes to a contract.
On top of that another good benefit to employing crypto cash in transactions is the protection for the buyer in knowing their money is safe and secure.
Search for trustworthy, efficient collaboration
Every single realtor appreciates, even closing national transactions is usually a struggle, however when you venture in to the international real estate buyer/seller markets, this is even moreso true.
Winning real estate agents, when asked, without notice can tell you the status of their pending contacts, leads and sales. Are you able to?
This being said, couldn’t you recognize that an all-inclusive online digital transactions SaaS software built to satisfy international real estate transactions from start to finish, be described as a welcome improvement to all real estate brokers? The upside to this promising future technology is how it can streamline the work flow, provide security and ease communications for real estate professionals of international real estate.
Blockchain technology is the way of the future and many industries are realizing the potential of it. One such industry is the energy sector. Jen Scott of Harvest Services, a company focused on boiler repairs and servicing in Red Deer, Alberta, Canada, had this to say…
Oil and gas…well the entire energy sector,is ripe for early technology advancements and adoptation. We are currently working on SaaS software that pertains to the meter monitoring sub-section of our business.