Hi Everyone! I attended a great class yesterday; How to Deal With Foreign Investors.
In Arizona we have had a lot of Investors from Canada. Can't blame them really; who wants to be in Alberta or British Columbia in the winter???? With the US dollar devalued against the Canadian dollar and Arizona real estate on sale; there is an abundance of real estate opportunities for our neighbors to the North. Although they do speak English, they do have a culture of their own and that includes a business culture.
We are also seeing investors from Asia, the Middle East and South America. This class was about how we need to respond and relate to them when helping with their real estate investment needs. I've listed below a few pointers:
*Learn at least a few phrases of the other's language. Be prepared to recommend a translator. Use your area colleges for translators.
*Show appreciation for the other's customs, music and art. Do not criticize them
*Be sensitive and non-judgmental on politics and religion; avoid discussing possible.
*Show good intentions and consideraton and follow-up on promises. Be on time for appointments. Some cultures see tardiness as a weakness.
*Extend respect to those that the customer cares about; the elderly, children, family, etc.
*Minimize talk of the United States
*Do not ask about family unless they are present or the other person mentions them, this is very true for Middle Eastern cultures.
*Realize that you will need to be more formal and take more time doing business than is our normal practice here in the US.
There is a book out called "Kiss, Bow or Shake Hands". This is a book that explains each cultures rituals and correct personal and business practices you should engage in when working with foreign investors.
And, here's how to go about getting those foreign investors! Call the foreign Consular offices, foreign trade offices and private banks to see if they have Investors looking in your particular area.
Hope this was informative! Have a GREAT weekend.
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