Building a successful multicultural real estate practice takes time, skill and business savvy, especially knowing how to grow your business without breaking the bank. Here are three areas global agents may want to explore.
Agent teams, taking a wide variety of forms, have long played an important role in the success of many real estate professionals. From pairs of family members—husband/wife, mother/daughter, father/son, etc.—to other partners, or larger groups focused on a particular geographic territory, you can find just about every type of real estate team tackling all sorts of markets.
Building a multicultural real estate practice may feel like a daunting task for any single agent. That’s one reason many global agents prefer to specialize in a particular niche market. Still, their efforts often rely heavily on building strong networking relationships with other key professionals.
Canadians make up the biggest contingent of foreign buyers of U.S. residential real estate. Could they represent a niche opportunity in your market?
When you think of international buyers, do you think of our neighbors to the north? You should—Canadians bought a whopping $9.4 billion of U.S. real estate last year. They make up the largest group of foreign buyers in the U.S. residential market, and they’re growing each year.
When the U.S. market is down, buyers from around the world go shopping. It’s no secret that global buyers with strong currencies are snapping up bargains here, but did you know that Canadians lead the pack?