RISMedia had an article the other day that I thought was fantastic! It was about Attracting Global or Foreign Buyers. Coming from a market where over 23% of our buyers were not US Citizens this article stood out to me.,
http://rismedia.com/2011-05-11/build-an-action-plan-how-to-attract-global-buyers/
Interestingly enough, there are buyers from all over the globe beginning to buy real estate as an investment, in Metro Detroit. I am seeing lots of sales to foreign investor in Livonia, Plymouth, Canton and Northville.
So, given my recent experience and this emerging trend, I thought that we needed to talk about this.
A Mastermind Group of mine brought in a high end financial adviser and their explanation was that, with the collapse in the European Market....ya ready for this one??
Real estate is perceived as a SAFER investment here than stocks and real estate in other countries!
For all intents and purposes, whether the market is near bottoming out or already has and is prices are increasing, we are in the "Safe Zone" for investors to buy real estate. Buyers from other countries get it as well and this is creating an incredible opportunity for all of us.
The challenge is that there are different customs, laws, rules, practices, etc., in other countries that we could never, ever even imagine taking place here. So, remember to either partner with an agent who has experience in this realm. OR, make sure your office can offer you training in generating leads from outside of the US and the practices required to make the transaction a win-win for everybody.
The bottom line is that there is huge opportunity for these investors, the sellers and the agent. Let's take the ball and run!
If you know of any agents (from anywhere in the US) who speak multiple languages or are foreign born, please pass along their info to me, since I too am building my network! Thanks!
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