Margaret Kelly, CEO of RE/MAX, LLC, in a commentary published last year on RISMedia.com, stated, “Interest in U.S. real estate is on the rise, and international buyers are seeking out U.S. agents to be their eyes and ears stateside. From afar, they recognize the strong signs of a buyer’s market, including affordability and the opportunity to invest in desirable locations—especially Arizona, California and Florida—where international sales are highest. It’s clearly good news for the agents in these states, which were among the hardest hit during the housing downturn. Whether agents outside these areas reap some of the benefits of an active international marketplace is entirely up to them.”
In an RISMedia.com report on how to implement business systems, Rich Rector, owner and chairman of Realty Executives International, Inc., focused on foreign buyers as a key element to success today.
“Four states recently have accounted for 58 percent of all sales to foreign buyers,” said Rector. “Real estate has become a truly global industry. We must change the way we do business by determining where that audience is coming from and targeting those foreign buyers in our marketing efforts. Take advantage of the tools you have access to as well as a variety of new ones. Social media, email marketing and old-fashioned networking are just a few of the lower-cost means we all have available to us.
Foreign Buyers Have ‘Substantial Interest in U.S.’
According to the NAR, foreign buyers continue to have a substantial interest in U.S. properties. Over a five-year time frame more than 70 percent of REALTORS® reported a constant or increasing level in the number of international clients contacting them.
“REALTORS® provide international buyers with a significant advantage when purchasing property in the U.S. REALTORS® who have earned NAR’s Certified International Property Specialist designation have received specialized training and are well prepared to service the international market,” said Thomas.
