Hard data is starting to surface about international buyers within the United States.
I recently spoke at the South Florida REALTOR Profitability Conference sponsored by the REALTOR Association of Greater Miami and the Beaches (RAMB). When I was not teaching my real estate video workshop, I sat in the very other interesting workshops. One such workshop talked about the resources available on the RAMB website (http://miamire.com).
Hard Data About International Buying Activity In The U.S. Now Available
One resource that I learned about in the other sessions is the 2007 National Association of REALTORS® Profile of International Home Buying Activity. RAMB has made the study available to everyone on their website at http://miamire.com/07IntlSurveyProflie-final-07-27-07.pdf (PDF file)
Gold Mine Of Information: Change Or Wither Away
This proactive study by NAR study is beneficial to its members and is a virtual gold mine of information for the REALTOR that is looking for new groups of buyers for properties that need to be sold. Some high points include:
- "Almost one third of REALTORS® - 32 percent - report having had at least one international client between April 2006 and April 2007.
- "More than fifty percent of those who did have international clients had successful home sales transactions with those customers."
- "Although more than two thirds of REALTORS® report that their international clientele accounts for about the same level of business during the past five years, fully a quarter of them indicate that their international business has increased."
- "In Florida, for instance, 65 percent of REALTORS® brokered at least one home sales transaction with an international buyer; nearly half - 48 percent - of those REALTORS® who brokered foreign-buyer purchases reported that one to four of all their transactions were with international clients"
The report also includes a profile of the typical foreign buyer including such data as "the median sales price paid by the typical foreign buyer was $299,500 and was financed through a mortgage loan"
Resources To Help REALTORS Attract International Buyers
NAR has published this study for the direct of its members. Perhaps its time to rethink portions of your marketing strategy... Much of this study confirms what we have been saying for some time.
The RAMB website, http://miamire.com is a great resource for REALTORS in many areas and much of the information (for instance the link to this study is available to non-members)
The ForSaleByLocals Blog: Our daily blog, http://forsalebylocals.wordpress.com has a large amount of information available about how to attract international buyers and informative links on the right side bar. Consider subscribing to the RSS feed to get the latest information.
Vidlisting.com: Our website, http://vidlisting.com, is a real estate video site that provides professional narration in English, Spanish, and Portuguese. We have a large number of agreements with international real estate portals and organizations that can bring prospective international buyers to your properties. We also maintain active participation in large international real estate fairs that bring offline access to international buyers.
We'll be providing a more comprehensive list of resources in a future blog post.
Like the idea of attracting international buyers for your properties? Consider joining the new "Marketing To International Buyers" group here on Active Rain
See Also:
Put Money In Your Pocket With Commissions Or Referrals From Foreign Buyers
Florida, Brazil, and Bolivia: Real Estate Event Participation In The Americas in English, Spanish, and Portuguese
Measuring Online Engagement With Real Estate Video
"Why Are Video Views In Different Languages Counted Separately?"
NAR CEO International Roundtable Comments At SIMA 2007 (Video)
The REALTOR Association of Greater Miami And The Beaches (RAMB) Partners With Vidlisting.com To Exclusively Provide Online Real Estate Video Services And Training To Members
Llavetex.com In Europe Partners With the Vidlisting.com Family For Distribution Of Property Videos From The Americas
Attracting Buyers With European Currencies To The Americas: Europe's TheMoveChannel.com Partners With Vidlisting.com
Exclusive Agreement Provides Real Estate Video From Panama To NAR Members And The Rest Of The World
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