If you're interested in beginning to target the international homebuyer, here are some quick tips to start the process.
1. Do your homework – define your targets.
Research who is coming to your market. Start by identifying foreign companies in your area. Check tourism records to see where foreign visitors are coming from. This is often an indication of the countries represented by foreign buyers. Meet the staff at the Economic Development Authority and Chamber of Commerce and learn about their foreign initiatives
2. Research the countries you decide to target.
Identify their real estate business practices. Research their homes and lifestyles. Learn about their culture.
3. Plug into local groups which have an international orientation.
Connect with foreign embassies, foreign chambers, and local trade mission groups.
4. Find and use the many NAR resources available.
Take the Certified International Property Specialist (CIPS) Training.
Learn what ICREA offers (go to www.Realtor.org).
Put relevant listings on World Properties.com (it’s free through Realtor.com's enhanced listings).
View the International market PowerPoint presentations on Realtor.org
5. Go to International Real Estate Expos.
Find a list of events in the membership section of The Institute's Website.
6. Go on foreign trade missions.
7. Join The International Real Estate Federation (www.FIABCI-USA.com). As an Institute member, you'll save the application fee of $250! You will still have to pay FIABCI dues.
8. Network, network, network with other luxury agents in the US and abroad.
9. Develop relationships with international resort property developers.
