Preparing to Work With Foreign BuyersBy Barbara Pronin
With the upcoming transition to a new administration, wealthy foreign buyers may start calling their money managers, investment consultant firms report. Some foreign investors will be scouting for commercial properties, like office complexes languishing in the wake of the coronavirus pandemic, experts say. A number of wealthy families from Asia, the Middle East and South America may be shopping for high-end homes for themselves or for their children who are attending colleges in the U.S., opening opportunity not just in major cities, but in suburban college towns nationwide.
Additionally, while many foreign buyers rely on referrals, according to the National Association of REALTORS® (NAR) Profile of International Activity in U.S. Residential Real Estate, more than a third find their agent online via the agent’s website or on the firm’s or the franchise’s website. Speaking a foreign language can be an advantage, as does being familiar with foreign cultural norms, so it pays to note those attributes prominently on your website. What else does it take to attract and serve foreign investors?
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