As a real estate agent, the list of specialized “niche” real estate markets you can establish yourself in is expansive indeed. Whether you excel at marketing homes to millennials or are just really good at selling to commercial clients, catering to a specific clientele is an old and well-established sales trick in the world of real estate.
in as a real estate agent will net you a long list of positive benefits, all of which will serve to streamline your marketing techniques and sales pitch. These benefits, when properly incorporated into your business model, will also help you sell more real estate and garner a better reputation as a real estate professional.
Among these real estate niches, few are as profitable or as attractive as selling real estate to foreign investors. The idea of finding a wealthy foreign national and convincing them to buy one or more of your properties is one that has wormed its way into the heads of real estate agents far and wide. As international trade begins to reopen and new business partnerships are formed, one question remains: will you be able to capitalize on this trend?
Foreign investors: a real estate niche
While selling real estate to foreign investors is truly a very lucrative real estate niche, it’s not exactly an easy specialization to master. As a real estate agent catering to a wealthy, cosmopolitan clientele, you’ll be faced with stiff competition and be expected to play by the rules of . This is open water; you’re swimming with the sharks now.
Yes, those who want to make it in this niche are going to have to run a tight ship. They’ll have to present themselves properly, possess shrewd decision-making skills, and be able to think on their feet. If you feel like this description fits you better than a tailor-made suit, then this might just be the real estate niche for you.
Don’t let us intimidate you too much; this niche is difficult to get into, but it isn’t impossible. If you’re willing to take risks, work hard and learn from your mistakes, marketing to foreign investors is not at all an impossible niche to get comfortable in. “But how exactly does one go about the process of actually setting themselves up in this unique corner of the real estate market?” you ask. Well, that’s what we’re here to tell you!
Stepping stones towards the goal
As with many other things in life, there is no clear, linear path to becoming a real estate agent specializing in foreign investors. We can’t exactly provide you with a map that will guide you straight into the inner circles of the global elites, but we can give you some solid advice on how to get closer to achieving that goal. Keeping this in mind, let’s begin!
Find the right properties
Before you can sell to international investors, you need to have something you can sell. If your listings aren’t the type of properties that a foreign investor would consider, it doesn’t matter how well you do in other aspects of the job. You need to carefully choose listings, snatching up those that will attract this type of investor and moving on seamlessly from those that won’t.
So what makes a listing attractive to foreign investors? The first and most important attribute that foreign investors consider is the return on investment. Properties in rapidly growing urban areas, properties with rapidly appreciating value, and other similar qualities are almost guaranteed to get international investors interested.
Another thing that foreign investors simply love is undeveloped land. With a ready source of capital, undeveloped properties in urban or suburban areas are perfect for the construction and sale of lucrative commercial real estate, as you probably already know as a real estate agent. The bottom line is this: choose your listings carefully.
Never stop networking
The most important piece of advice we can give you is one that will come in handy, no matter what real estate niche you end up working in never stop networking. Don’t get us wrong, now; we’re not advising you to become one of those insufferable bores who never stop talking about work and always prioritizes business. That will hurt your cause more than it will help it!
Instead of this heavy-handed, bullheaded approach, try something a bit more persuasive. Approach people as people, not just potential clients. It’s ok to offer your services as a real estate professional when the opportunity arises, but never force it into the conversation unnaturally. People love when someone is empathetic, but they equally dislike insincerity and blatant opportunism.
Another important element that comes into play when networking is your choice of social hubs. If you’re looking to get in good with a wealthy international businessperson, you’re not going to get very far by striking up conversations at the rotary club on a Wednesday evening. Think like someone who is in the market for a salient investment; where would they go to socialize? If you can find out the answer to this question, you’re that much closer to achieving your goal.
Dress the part
This one might seem like a no-brainer, but you might be surprised at how often people miss this crucial step. Considering how important an inflated sense of confidence is worth in the world of business, looking like you’re successful is actually a reasonably reliable way to actually become successful in the end.
We’re not suggesting you go out and blow three months’ wages on Armani suits; all we’re saying is that a little bit of self-care and attention to your image will take you farther than you might imagine. Having your shirts and coats tailored and dry cleaned is a good place to start, and go from there. Just make sure that you look like someone an international investor would buy a property or two from!
This image control extends beyond simply dressing and grooming to a more professional standard, of course. Buying an older luxury car, for example, is a great way to project a professional and successful image without having to break the bank. Simply find creative ways to exude success!
Conclusion
We’ve got one last piece of advice for you; don’t be afraid to ask for help. When you’re just starting out in the foreign investor niche, everything can seem very intimidating and unfamiliar. That’s ok! Simply who works in this niche, get in touch with them, and invite them out for coffee. The advice they’ll give you will be priceless!