Understanding International real estate
by Seth Joiner
Traditionally it has been common place for property buyers to look for property
in their local markets. As travel has become more accessible and local
management companies are everywhere now it has become more and more advantageous
for large and small investors to look outside their areas for investments that
fit their investment criteria. Now that the internet has become more accessible
to everyone it has taken away much of the need to travel around to discover
these properties. With the research tools available it is easier than ever to
locate property, do market and property analysis, and submitting successful
offers without ever traveling to see the property until the deal is to be
finalized.
To understand why selling your commercial property internationally makes sense
versus just listing it locally we need to understand the direction of the market
and who are the players. First you need to realize that there are 50 million
real estate investors in the world today and the vast majority of them are
internet savvy information hungry tenacious experts. They are constantly
scanning both their local markets and international markets looking for the best
ROI (Return On Investment) while trying to limiting their risk.
Another factor that is also starting to play into the buying equation is the
devaluation of the US dollar and the US economy. More and more buyers are
looking elsewhere for emerging markets and higher ROI. Investor are beginning to
questions how safe of an investment that it really is to invest in the United
States. As buyers shift from their local markets to international markets so
does the trend for sellers to look internationally for buyers.
The key is to learn how to reach them in the most efficient way possible and by
doing so you can sell your property more quickly, for less money than
traditional methods, and with greater returns. Why not cut out the middle man
that has traditionally cost a significant percentage of your hard earned equity?
It makes sense doesn’t it? Obviously you still want to use a real estate lawyer
to put everything together for you but the good part about them is you would
have used one anyways and they charge you by the hour and not a percentage of
the sales price.
Then naturally comes the question do I create my own website to promote my
property or should I use established property listing websites. The short and
simple answer is it depends. If you are a developer that has many units or lots
to sell in a community it would probably be in your best interest to develop
your own website so that you can update it as things are being sold, and have
special promotions and offers. Even though you do that it would be advisable to
bring in as much traffic as possible so listing your property (or website) on
established property listing websites would be advisable. Even if you have the
greatest website in the world, if no one can find you then it won’t do you much
good.
On the other hand if you only have one property to sale then why waste your time
and money developing a website that will become obsolete within a few months?
Promote your property using as many property listing websites as possible. It
only takes one buyer that is looking for your particular property to close a
deal like that. Think like a buyer and search for your particular property that
you have for sale, then expand your search out to encompass like properties and
then any properties.
Find the websites that will allow you to list with them. Put it on free
websites, local websites, international websites and sites that you need to pay
for. The greater exposure you can get for your property the quicker that it will
sell. Look for website that give you tools that will make finding those buyers
easier, such as multiple languages, automatic alerts for potential buyers, maps,
research tools, etc.
Obviously the more that you learn and can be prepared for selling your property
the easier it will become to take a greater role in the sales process or just do
it on your own. Understanding that investors are stepping out of traditional
patterns to adopt a much broader approach to how they invest will make the you
as a seller better prepared to deal with the buyers of today.