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Gaining The Global Edge - NEFAR Event

By
Real Estate Agent with Coldwell Banker Vanguard Realty - 904-673-2308

Gaining the Global Edge - NEFAR 2013Today the Global Business Council of the Northeast Florida Association of Realtors held its Gainiing The Global Edge Seminar and it was an outstanding event. The organizers drew speakers from every angle of an international transaction, including law, finance, and culture.

Here are a few highlights from the time I was able to attend due to schedule. I can assure you, if they do this again, my schedule will not conflict.

Florida has the largest number of international buyers annually. 20% of the people who purchase a home in Florida are foreign nationals. 

If you are interested in international real estate, pick one or two countries to concentrate on. You can't be an agent to the world. 

It is important to learn and be able to quote numbers in the way that the Buyer understands them better, eg, meters vs. feet and Euros vs. Dollars. Fortunately, there's an app for that!

Remember that currency fluctuations can affect the cost of a transaction and even blow the deal if there are shifts of thousands of dollars. Keep up with what the currency of the country's exchange rate is. Also, know that there are services available to lock the exchange rate for a time period.

Florida Association of Realtors' web site has contracts that are translated in Spanish, Portugese, and German. They expect to have a French translation contract soon. This is in the Tools and Support - Forms Section.

There are two types of international buyers: those coming from their mother country, and those already living in the United States. Decide which group you want to work with. Persons who have not lived here need much more time to explain our process in real estate.

Real estate is not practiced the same way in the rest of the world as it is here.

If your real estate organization puts on any type of global event, I highly recommend it. Our world is becoming smaller all the time and it pays to be up to speed when you get that phone call and the buyer is half a world away.

 

 

 

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About the Author: Sharon Alters works with her husband, Frank. They are in the top 5% real estate agents for production in the Jacksonville Florida area, specializing in Military and Corporate Relocation in the Fleming Island, Orange Park, St. Johns, St. Augustine and Beaches areas. Their local knowledge can help Relocating Buyers find the perfect lifestyle, whether it is a Castle on the Ocean, or a Cottage in the Country. 

Call/text 904-673-2308 or sharon@teamalters.com

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Comments (6)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sharon this is great information, amazing there is an App for everything:) I wonder if there is an app to deal with developers who talk in dollars per  sq ft :), Endre

Sep 12, 2013 03:04 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Sharon - you would think that being an immigrant from the Soviet Union, it would be easier for me to work with them, but for some reason it is not true. I tried to do it quite some time ago, but it turned to be such a waste of time, that I never tried it again. On my card there is nothing that can tell you that I am Russian. I changed the name, I do not say that I speak Riussian, so if they bump into me accidentally, and hear the accent, they know.

The funny part is that lately I have contacts with couple of Russian small investors, and we work just fine.

Sep 12, 2013 05:26 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Sharon.... good information.... I remember years ago having listings that sold to families from Russia and many orientals... the transactions ran smoothly and they were guided properly...

Sep 12, 2013 07:59 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Endre, thank you - yes, I need that app for developers this week. We are researching some commercial land/buildings with a fellow agent who was in commercial and the lingo is definitely different.

Jon, that is very interesting. We have a significant Russian population here in Jacksonville in the Mandarin area. When our children were little, there was a lady who helped us with our children who emigrated from Ukraine. 

Barbara, I have worked with British and Hungarian people and the transactions went very smoothly. The Brits were laughing on the way to closing because the exchange rate had moved in their favor, so they were paying less for the house than when they wrote the offer.

Sep 12, 2013 10:48 PM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience
Sharon, What an exciting event! I've been marketing in China and have developed several leads. Go get'em.
Sep 13, 2013 12:57 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Adrian, from where you are located, China is probably a great idea. Thanks!

Sep 14, 2013 02:44 PM