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What to Know About Working With Affluent International Buyers

Aug 13, 2019 by

As a successful real estate professional, international buyers could become an integral part of your business; however, it can be a bit intimidating to figure out how to capture this market. Just as in any real estate market niche, networking and connections are imperative to forming lasting relationships with affluent international prospects.

What are some ways to meet an international buyer?
Networking is essential. Once you’ve targeted your feeder market, finding buyers can be exponentially easier, as one client can lead to 10 other potential clients. Attending real estate events in the desired market can be a good move, as meeting in person generally forges strong relationships. Can’t make the trip? Try using social media or tools such as Proxio Connect to virtually begin relationships with agents based in different countries.

How do I break into a market if I don’t speak the language?
Clients want to feel respected, listened to and comfortable, and there are ways to check those boxes if you get creative. For example, research their culture and what’s expected as a common courtesy before approaching them to work together. “Kiss, Bow, or Shake Hands: The Bestselling Guide to Doing Business in More Than 60 Countries” is an excellent one-stop resource written by Terri Morrison. Learn if it’s appropriate to send a gift, or if it would be considered offensive, as well as many other potential missteps you could make—and how to avoid them.

What are some technology hacks to attract international buyers?
First, making sure your business is mobile-friendly is key when looking to attract an international audience. A simple layout usually works best, especially when prospective clients might not speak the same language. Visual-heavy content is also a good idea, as pictures speak volumes to what you offer as a real estate agent. In general, making sure your social media channels are cohesive and up to date is an easy way to ensure that your brand is taken seriously by potential buyers.

Which international markets are attractive?
China, in particular, has shown immense growth, currently home to 26 of the 30 fastest-growing cities. India is also growing quickly and shows potential to be a powerhouse when it comes to luxury real estate. There are specific markets in the U.S. that attract international buyers at all economic levels, as well. You can get updated data on these luxury markets through our monthly Luxury Market Report, and for information on international markets, Wealth-X and Wealth Engine both produce outstanding and comprehensive reports on global wealth.

Finding and locking in international business comes down to opportunity meeting preparation. Catering to the needs of the international client may require you to do more research, invest in different tools or get on an airplane to visit your target market; however, the results could take your real estate career to the next level.

Diane Hartley is president of The Institute for Luxury Home Marketing, an independent authority in training and designation for real estate agents working in the luxury residential market. She is passionate about luxury marketing and has more than 20 years of experience working with the affluent market. For more information, please visit www.luxuryhomemarketing.com.

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Staging Your Outdoor Living Space for Luxury Buyers

Jul 2, 2019 by

If you’re selling a luxury home during the Canadian spring or summer, you’ll be courting buyers who are already imagining how they might use outdoor space to its fullest. Admiring city skyline views on a rooftop terrace, maybe. Or entertaining friends and family in a lavish garden. Extending your home’s living and entertaining space into the outdoors is a great way to increase value. Don’t disappoint! Here’s how to stage your outdoor space for those luxury buyers:

Leverage different stations. The only thing better than a gorgeous outdoor space is a gorgeous space that’s also versatile. Show off your outdoor real estate by having different sections for different uses, like a sleek outdoor bar for al fresco cocktails, a quiet nook with plush chairs for reading on a summer’s day and a gazebo for formal sit-down dining.

Splurge on greenery. Most luxury buyers are looking for a true oasis where they can escape from the chaos of everyday life. Set up your outdoor space with plentiful plants, especially those with a tropical feel, so they can imagine a space that feels like a real mini vacation.

Think about what you value indoors. What makes an indoor space feel comfortable and luxurious? Is it furniture with clean lines, neutral tones and luxurious textures? Accessories like cushions and scented candles? Don’t neglect these features when choosing outdoor furniture. After all, buyers want a luxury living experience whether they’re indoors or outdoors.

Think about what’s underfoot. Aside from grass, you have options for what kind of flooring and materials populate your outdoor space. Consider lining your deck with a colourful outdoor rug or creating a winding path through the garden using flagstones or bricks.

In Canada, the warm seasons might be short, but Canadians know how to make the most of them. That’s why a luxury outdoor space can be a major selling point, especially if it’s staged to show off its best features. By spending the same amount of attention on your outdoors as your indoors, you can give your luxury property an edge.

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