International Business, “Are You Ready for the International Buyer?”

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On Friday morning The “Technology Tools to Attract International Luxury Buyer’s” session included a panel of experts from the United States (Beverly Hills,CA), Jamaica, and South Africa. Each expert shared updates from their cities or country. Jamaica is, five years, new to the Multiple Listing Service, their listings are syndicated to Realtor.com®, and can be viewed by everyone.

When people think of South Africa they typically think of it as “Bush Country”. However, there is more than just wildlife in South Africa. When people are traveling or on “holiday” they find that Cape Town is a beautiful place and end up falling in love with it. Many of their luxury buyers are coming from those visiting the areas while on vacation. The luxury market is around $3.5 million dollars in South Africa.

The Beverly Hills Expert shared how their company is marketing the “Neverland Ranch” to the Asian market. This location has the space needed to add a vineyard which is extremely important to an Asian buyer. Other properties marketed in the Beverly Hills area include Event Marketing. In his example, a $50 million dollar home included a partnership with Lamborghini. The agent was able to invite their guests and since Lamborghini was showcasing a new car, Lamborghini invited all of their guests to the event. He was also able to capitalize on social media marketing internationally because Lamborghini pushed out the event on Instagram and Facebook.

Lifestyle is essential to the Luxury International Buyer. It’s imperative for a REALTOR® to take time to learn what a luxury buyer desires in a home. They want to be able to live, learn, love, eat, work, host, and play near or in their homes. Agents that want to work with the international buyer may want to consider:

  1. Obtain the CIPS designation
  2. Lifestyle marketing
  3. Event marketing
  4. Destination marketing
  5. There is no perfect recipe for international marketing
  6. Many international buyers are using “We Chat”
  7. Virtual office meetings with Go to Meeting, Skype, and messaging with Bomb Bomb are an easy way to have face to face meetings.
  8. Stunning photography is a must when marketing luxury homes.
  9. Virtual reality is playing a huge roll in sharing a home with buyers in other countries.

Remember to put yourself in the buyers’ shoes. If you don’t understand the culture work with an agent that does. The CIPS, Certified International Property Specialist, is a must if you want to work with international buyers. Then check out the RPR, REALTOR® Property Resource, tool for international agents. Now answer the question, “Are you ready for the international buyer?” If not, get ready.

Short video preview from the session from Katch.me

For more information on the panelist click here

 

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2-Time Featured Attendee

Carrie J. Bey-Little is a national speaker, digital marketing strategist, and a board director for MORe, one of the largest real estate boards in the U.S. Carrie is also the 2015 president elect for Women’s Council Illinois and a licensed real estate agent with Baird & Warner.