Does Culture Affect Negotiations When Purchasing a Home?
It all started with a spontaneous late-night post in one of the Turkish Facebook groups...It was a simple, short post just introducing myself and offering my assistance to those who reside in Turkey and looking to invest in the US. A few days after my post, I received a call from Turkey from an investor looking to purchase a few homes in the US after reading my FB post. Their transaction went smoothly, with no challenges at all.
As they say, good news travels fast! This client referred others, some live in the US, and some overseas. For some reason, every single one of them loves to bargain, it’s the culture. To them, even if it’s $100.00 less than the asking price, they accomplished their mission. 
Whether be savvy investors or a first-time one, they can unreasonable until they lose out on a few great deals. Just last month, we offered $750,000 on a home that’s listed for $899,000. Just because it is cash doesn’t mean the price will go down over $100,000 but that is the culture.
Luckily, almost all of them are outside of FL and purchase without stepping foot in the home and most buy brand new homes directly from the builders which makes my job a lot easier.
When working with an international client, it is important to learn about their cultures to provide top-notch service. Some of their expectations may sound unreasonable, however, this is the way they’ve been doing business in other countries for years. Also, they are wiring A LOT of money overseas and it is important for them to work with someone they can trust. That trust can be built by learning about their cultures.
I am currently working with a family who’s here temporarily, for about a year and looking for a rental home. Where they wish to live in one of the high-end areas, the type of home they want must be furnished, pool, and over 3000 sq ft gla. Their budget is $7000.00/month maximum. When it comes to long-term rentals for someone who does not have any credit history, work history in the US, no Social Security Number, they have to provide things like;
-A copy of their passport showing the Visa page
-Proof of funds
-Three months security deposit and minimum six months rent upfront
We made two offers yesterday $900.00 under list price. The good news is, they will pay one year's rent upfront plus two months' security deposit. It wasn’t easy to get them to agree to pay a year’s rent upfront but I know and understand their culture so they trust my advice.
When we are working with people, we must first establish a relationship and show them the reasons why they should trust us. This is true for every single person regardless of their nationality.
Does Culture Affect Negotiations When Purchasing a Home?
Does Culture Affect Negotiations When Purchasing a Home?
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