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With a softer dollar and lower home prices, the United States is drawing international buyers in a big way. According to the 2008 NAR Profile of International Home Buying Activity, between 150,000 and 190,000 homes were sold to international buyers between May 2007 and May 2008. Here are some highlights from NAR's report:
- International buyers purchased properties in every U.S. state
- States most popular with international buyers: Florida, California and Texas
- Four in 10 international buyers paid for their home in cash
- Over 14% of properties sold to international buyers sold in excess of $750,000
- Canadian buyers doubled from 11% in 2007 to 23.05% in 2008
- Of the realtors surveyed by NAR, 26% served international clients in the past year
What does this mean for U.S real estate agents? If you haven't already, broaden your horizons and start thinking globally, not just locally. If your farm isn't providing the business it used to, why not try something new? Use the Internet to start networking and marketing to this new stream of eager buyers. You just might find yourself a new, comfortable niche.
By Danielle Macklin, Allied Schools, www.brokerlicense.com
Labels: California Real Estate Broker, Real Estate Agent, real estate buyer, real estate market
more>>Posted by Danielle Macklin @ 4:15 PM • 0 comments
If you're a manager with a real estate broker license, keeping your agents motivated in a changing market can be challenging. Help them beat market challenges by avoiding these time-wasting traps.
Fickle buyers
Time is precious. So if your agents are spending hours upon hours with one fickle client, make sure they have a Buyer-Broker agreement in place. At the same time, advise your agents to set a limit on the amount of time they spend on a hopelessly, fickle client. That way, they don't miss out on more fruitful leads.
Stubborn sellers
If your agent recommends staging or suggests a competitive listing price, their clients should consider their advice. If their seller refuses, your agent will waste time convincing potential buyers to overlook the problems. Help your agents overcome objections. Coach them to ask questions during the listing presentation so they can better gage a client's stance.
Ineffective advertising or marketing
Advertising and marketing is expensive. Do your agents monitor their efforts and measure how many leads come in, if any? If their advertising and/or marketing plans don't at least pay for themselves, advise them to try something different. Help them by hosting marketing workshops and ask your agents to share successful strategies at your office meetings.
Negative naysayers
There's no mistaking it - negative people kill morale. Maybe the market is more challenging than in recent years, but consider periods like the 1980's or early 1990's. Agents still made a living and persevered onto the next market phase and so can your agents. Coach them to focus on the positive and to brainstorm solutions to challenges with other positive-minded peers.
By Danielle Macklin, Allied Schools, www.brokerlicense.com
Labels: Real Estate Agent, Real Estate Broker License, real estate market
more>>Posted by Danielle Macklin @ 9:58 AM • 0 comments
