International Purchases of U.S. Real Estate Highest in History
International sales volume for U.S. residential real estate hit an estimated $92.2 billion annually, an all-time high, according to a recent report released in 2014 by the National Association of REALTORS®. The survey also reported that a full 28 percent of REALTOR survey respondents had an international client in the past year, and 88 percent of those reported that they have 1 to 5 international clients who purchased U.S. property. Working globally is easy with Proxio and Proxio Developer Showcase.
How to Locate Potential Foreign Buyers Already in the U.S. Hint: It’s Easier than you Think.
One of the easiest ways to find international buyers for U.S. real estate is to do some research on your local colleges and universities. Attendance from international students is at an all-time high, up 49 percent from the year 2000 alone. It’s estimated that 30 to 40 percent of all international students will end up buying U.S. real estate rather than living in an apartment or dorm. Get started by establishing a personal relationship with key members of the housing and international outreach team. Let them know that you can communicate with their students and families with Proxio. Relationships matter.
These 10 Countries of Origin Represent 64 Percent of Foreigners Purchasing U.S. Residential Property
Who do you think is buying U.S. real estate? If you said it was our neighbors to the north, you’d be right. Here is a list: Canada, 19 percent • China, 16 percent • Mexico, 9 percent • India, 5 percent • U.K, 5 percent • Germany, 3 percent • Brazil, 2 percent • France, 2 percent • Japan, 2 percent • Russia, 1 percent. The way to succeed in international real estate is to cast a wide net, and network both locally and globally. That way you can reach both international buyers and multicultural families.
Don’t Speak the Language? Instantly Translate your Listings into 19 Languages and 55 Currencies.
The Proxio platform gives you the power to interact with your buyers, sellers and network in the language and currency of their choice. You can instantly send property details and marketing materials in 19 languages and 55 currencies, and place your listings on the premier international MLS. Sellers appreciate the added exposure you bring, and buyers love getting information in their native language. Having Proxio is the first step to establishing your international brand.
Ride the Multicultural Wave to Attract New Clients and Agents
We know that some real estate agents don’t think that they can generate international business from their local neighborhood. But did you ever consider the many multicultural buyers and sellers that live in your town. Almost every town has members of the community that are not native to the U.S. You can easily reach out to many of these prospects and even recruit more multicultural real estate agents by showcasing what you can do with the Proxio platform. Leverage it to generate more business.