Marketing to Russian Buyers is the way to increase sales in the slow real estate market
Go fishing where the fish is: sell properties to Russian Buyers with money to invest
"Gov. Charlie Crist pitches
Florida real estate to Russians"
---St. Petersburg Times
"From Russia With Cash -
Oligarchs Buy Homes in Chic U.S. Enclaves"
---The Wall Street Journal
How to increase sales in the slow real estate market
The unsold inventory of homes and condos in the US is huge and will take several years to unload even when the real estate market recovers. The Buyer's market will be here for quite awhile. This e-book is for those who are willing to have more sales NOW instead of passively waiting for better times to come.
In the Buyer's market the most important task is to bring more Buyers to your listings. Where do you get Buyers while you've done everything possible to promote your listings and yet - locals don't buy? The answer is - look where Buyers are, and Russia is one of these promising places.
Even at these slow times Russians have the money and willingness to invest in real estate abroad. And they do buy a lot; resort areas and big cities all over the world are very popular among Russian Buyers and also properties with some growth potential as investment.
Some analysts say that Russians pull funds away from the stock market to invest more in foreign real estate now.
Who is Who of Russian foreign real estate Buyers and where do they buy?
According to The Wall Street Journal - Real Estate:
"Several years ago, the weakening dollar began to draw more overseas buyers but Russians were scarce. Now, Russia's economy is booming amid soaring energy prices. Moscow real estate is among the world's costliest, making property elsewhere a relative bargain.
"In New York City, foreign buyers now make up about 15% of the market, with Russians the largest contingent, says Hall Willkie, president of real-estate firm Brown Harris Stevens. "A few years ago we didn't see any Russians," Mr. Willkie says. "But now, especially at the high end of the market they are buying big apartments...so they are a significant factor."
"In some ways, America is just the latest stop on a Russian grand tour. In London, so many Russians have bought property in one neighborhood that it has been dubbed Moscow on the Thames. Vacationing Russians for several years have frequented resorts in the south of France, such as Biarritz and Nice, where some have purchased large homes.
"Sergey Skaterschikov, a Moscow-based private-equity investor, is shopping for a house in Palo Alto, California, because his son will attend school in the area. With a budget of $3.5 million to $5 million, the five- and six-bedroom houses the 36-year-old Mr. Skaterschikov has looked at struck him as cheap compared with Moscow real estate, which he called "insane."
"The Miami area in particular is drawing Russians with its upscale shopping, hip nightlife and an escape from Moscow's harsh winters. In Miami Beach, a Russian paid $10.6 million in April for an unusual white concrete house with five boat sails on its roof and two curved terraced pools, according to the seller, developer John Turchin. Nelson Gonzalez, a broker with Esslinger, Wooten, Maxwell Realtors in Miami, says he has shown several Russian shoppers a house on Indian Creek Island with a $35 million asking price, one of the area's most expensive listings.
"Miami first became popular with Russians in the mid-1990s, when a coterie of Soviet-era pop stars purchased condos there and Russian media covered their new homes. Newer residents of nearby Sunny Isles Beach include Irina Allegrova, a pop singer who bought a two-bedroom condo for $1.4 million in January, records show. Reached on her Miami cell phone, Ms. Allegrova declined to comment. Rock star Leonid Agutin and his wife, singer Angelika Varum, own two Miami condos, including a three-bedroom one they bought for $790,000 in 2004 after Mr. Agutin recorded a CD in Miami with guitarist Al Di Meola. "I liked it there so much I bought the apartment next to the hotel," he says. "My wife and I spend three months a year there in-between our tours."
"In Manhattan, former Kremlin insider Boris Berezovsky bought a high-rise condo on Central Park West for $3.2 million in 2001, records show, the same year he fled Russia after clashing with then-President Vladimir Putin. A spokeswoman for Mr. Berezovsky declined to comment. Last November, Len Blavatnik, whose investments include metals, chemicals and oil, paid Seagram heir Edgar Bronfman Jr. $50 million for a townhouse off Manhattan's Fifth Avenue, just a few blocks from a $31.25 million townhouse he bought a few years earlier, records indicate. He also owns a Fifth Avenue apartment that he bought in January 2007 for $27.5 million. A spokesman for Mr. Blavatnik, who is a long-time U.S. citizen, said the two townhouses are long-term investments.
"The new buyers also include other residents of the former Soviet Union. In February, Bolat Nazarbayev, an oil magnate and brother of Kazakhstan's president, paid nearly $20 million for an apartment at the Plaza condominium, according to records."
Marketing foreign real estate to Russian Buyers has some specifics that we'll discuss in the FREE e-book. You'll find advice on the following:
1. How to present your foreign properties to Russian Buyers
- Website in Russian Internet
- Russian Real Estate Portals
- Co-Brokers in Russia
- Real Estate Shows in Russia
- Print advertising in Russian Media
2. How to overcome language barriers
3. How to consider cultural differences
Ask for your FREE copy of "Selling to Russians" through my website please:
http://www.english-and-russian.com/selling-to-russians.html
Sincerely,
Olga Kellen,
English - Russian Translator,
Associate member of ATA,
American Translators Association
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