Selling real estate to an international buyer cannot be a one time kind of relationship. In today’s hectic marketing activities, companies and professionals focus on capturing and converting more and more customers, losing existing customers left and right because of customer care issues or simply plaing lack of communication. Even conversion is much lower than it could be because the follow through after the initial contact is poor and doesn’t really keep the communication long enough to bring about the decision to buy on the other part.
With international buyers this factor becomes even more prominent and important because they expect of you a total care relationship and a long to medium term relationship. For one thing they will need your assistance in closing on the property and then in managing it, for the simple fact they are materially far from the place and might even never have the chance to visit it before the property is resold for a profit or rented.
Most of them are looking for buy-and-hold kind of deals and therefore want assistance in managing the property, in setting up the proper legal entity, in taking care of taxes and international fiscal issues. In short they want support and consultancy and they are usually willing to pay for it if the terms are clear and if they are being asked for it up front.
There is much work to be done initially to educate them and to find a property and an investing approach that will suit their needs. I usually provide some free assistance and counsel initially, possibly addressing them in groups (with teleseminars or the like), but I make it very clear that my assistance has a price and that after the initial stage I will start to charge for the work I do, upfront.
This helps build their respect in your work as well as give them the impression you are really looking for the right property for them and you are not necessarily trying to sell the first that comes your way (which is what you should be doing, anyway).
After you have gone through this initial stage, they will be your most loyal customers and they will be you best promoters. Look for a long time relationship when you are dealing with an international buyer and try to build one. You will be so much more successful.
Please read more of my blog posts on my new blog that has been created to host all of my content and that will be kept updated regularly from now on. Commodoreblack.com was my first blog ever and I owe it my beginning in this beautiful blogging world, but with experience I learned that it was better for me ton create a blog that carried my own name. And I advise you to do the same if you ever plan to start a blog.
