One of my friends requested that I comment about the Profile of International Home Buyer therefore to satisfy my friend’s request I am providing an update for you regarding International buyers’ purchasing trends.
According to the National Association of Realtors, for the period April 2013 through March 2014, the total sales volume from international clients accounted for approximately
(A 35 PERCENT SALE INCREASE)
What does that mean to you as a person selling your home?
MARKETING REAL ESTATE TO THE INTERNATIONAL CLIENTELE IS IMPORTANT.
International buyers of U.S. properties came from nearly all over the globe, but five countries (Canada, China, Mexico, India, and the United Kingdom) accounted for 54 percent of the reported transactions in the recent study. Canada was the top source of international clients in terms of transactions volume, but China accounted for the largest sales dollar volume because of the higher average price of properties purchased by Chinese buyers. Chinese buyers tend to buy properties in higher-priced markets.
Your marketing strategy should include a specific action for attracting International Clientele, as well as the local buyers. Identify the international buying trends in your market area, and tailor your marketing plan to reach those clients. Some times it can be as tenuous as contacting an entire network of international clients to inform them of the specifics of the inimitable property. Other times it’s as simple as, creating a full color print for a magazine layout like “Unique Homes” to reach the right audience.
Let’s not forget that Florida is the #1 TOP contender among total reported purchases by foreigners. Beating out California, Arizona, Texas and New York.
Norka Parodi is a member of the Institute for Luxury Home Marketing and is a Broker/Realtor®, with CDPE, CLHMS, CIAS, LMC, GRI, TRC designations
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