Responding to international leads can be a tough job, especially because there are cultural differences and constraints that can slow the process, becoming an obstacle for real estate professionals. We all know that today's real estate business is not only local - but global. Buyers are coming from every corner of the globe. Travel is common (and convenient) and lifestyle also contributes to the real estate trends we are experiencing. Real estate agents are delighted and interested in getting foreign leads.
After a while you might experience some anxiety because as your strategy to get more leads and close more sales starts gaining momentum, and you might see an email and think, "Oh my god... it's written in Chinese!" Well, we won't be providing you a 15 minute training session on how to speak Chinese, but we will tell you that if you are already a ListGlobally partner that all translations are automatic and included on all subscriptions.
Attracting international buyers is one of the biggest challenges that many real estate agents face and you want to receive quality leads. After all, time is money and you are tired of promises that won't convert to money in your pocket. In this article, we will be talking about 5 tips for responding to international buyer leads. Let's go to infinity and beyond!
Tip 1: Put yourself in their shoes
Imagine you are in China and looking to buy a house in the U.S.A. or in Europe because you want your kids to have the greatest education they can get.
Great, let's move on. What are your main concerns?
- The food
- The fact that he/she won't have the family nearby
- The comfort
- The neighborhood
- All of the above?
You are struggling to get information right? You need to find a great apartment or house but you need to know the laws, the educational system, the cost of living and many other things. Now, let's go back to you as an agent. When answering your leads, you should be a source of information. You should be their leading angel when it comes to buying property abroad. Our first suggestion is (bells ringing please): Gather information and categorize that information by business persona: (a couple searching for an apartment for their son, a businessman that is searching for a new home in a new country, etc. This way when responding to your leads you will be their Wikipedia for real estate.
Tip 2. Hey Doc! You should run a complete diagnosis
Now that you've prepared yourself in advance it is time to create benchmark questions in order to qualify your leads. Only with sales qualified leads (SQL) you will be able to improve your conversion rate. Invite your leads to a 15-30 minute call. Engage, dazzle and show them you are can be trusted.
Before the call, we suggest that you show them you are a real professional. Send them a "get to know" guide with some overview information about:
- The market and the country
- Pictures of the neighborhood
- Graphics and charts on the sales cycle and process for a foreigner
- International mortgage information
BUT... don't send too much information. A two page brochure for each persona will be more than enough. You don't want to intimidate your buyer. Keep the information simple and clear. During this call we suggest you ask:
- Why is your buyer searching for a home in your country
- What is the budget
- Mandatory house features
- Financing issues
- Explain how you will manage your work with them
- Set up clear goals and time-frame
- Others
Introduce your customer to your country, the neighborhood make them feel they are already next to you, living their dream. You will have them enchanted!
Tip 3: Be their eyes and soul in the country
You've captured your international buyer's attention and now they expect you to behave like a full-service broker. Assume they don't know anything about the market (hospitals, cost of living, social life, etc). Send them photos, videos and market information to reassure them you are committed to them. If they are only seeking an investment you can offer yourself find them tenants. And if the sale is closed why not help them to find a good designer to decorate the house?
Be creative and establish a connection with your buyers.
Tip 4: Answer quickly
Imagine someone that cannot just hop in the car and drive over to your office to resolve an issue or clarify any question they might have. We know that providing a timely answer to your local leads is important; it is much more so when interacting with foreign leads. Taxes and residence status can be complicated and international transactions are significantly more complex than local deals, so don't keep them waiting.
Tip 5: Spend time now, benefit later
Referrals work better than working with leads that never heard of you, right? For this reason it is essential to build a strong relationship and respect the cultural and traditional differences. The present clients will bring you new future clients through their referrals.
Conclusion
When working with foreign buyers, you face challenges that can be overcome with preparation, diligence and respect. They will meet you full of questions. Foreign clients may be a lot of work - at first. The sales cycle is longer but the delayed perks will come back to you. Plus, they are really interesting to work with!
