R
BY SANDRA HUBER, MILOFF AUBUCHON REALTY GROUP
eal Estate is an ever-changing industry that
requires real estate professionals to stay
educated and on top of current trends and
changes.
Remember the times without the Multiple Listing Service?
Nowadays we can access the MLS so conveniently from our
computers, laptops, and even smart phones. Remember
the days you had to go through books page by page? The
World Wide Web has not just changed OUR industry in
many ways, it has changed countless industries. With every
change also comes a new opportunity. The tech-savvy
buyer usually starts their journey online – and they find a
lot of information right at their fingertips.
A home in Florida is still a dream – and a global dream at
that! The statistics the National Association provides us
with each year proves that. On the other hand, we now
find many customers looking for properties overseas, be
it as an investment, second home, for a later retirement,
or other reasons. Doing real estate business inbound or
outbound has become another “specialty” for our industry
created by a demand.
So, what are the 5 most important steps to start off your
International Real Estate Career?
1) EDUCATION
In my opinion, education is the most important part when
considering whether to specialize in global real estate. It
is important in order to serve international customers in
your market better as well as your clients who are looking
overseas. Education is essential to give you an idea of the
different real estate practices in other countries compared
to how we conduct business in our market. There are many
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little details that are especially important when dealing
with international customers that you need to be aware of.
Throughout the year, the Association offers a number of
great classes and programs to provide you with essential
information, e.g. At Home with Diversity (AHWD), Resort
and Second Home Property Specialist (RSPS), Certified
International Property Specialist (CIPS), but also smaller
programs that offer you to find out about visas, FIRPTA
(Foreign Investment in Real Property Tax Act), Mortgages
for International Buyers, and much more.
You should also consider taking time out of your busy
schedules to visit the programs the Global Committee puts
on. That committee works diligently to provide education
tailored to Realtors® doing business with international
customers so they can stay up to date on the new trends
and challenges. While a transaction doesn’t seem like it
would be much different between selling to US Citizens
and international clients, the bigger picture is that there
are many aspects of the entire transaction that can differ,
and those are the things you need to know.
2) PROFESSIONAL CONDUCT WHEN WORKING WITH
DIFFERENT CULTURES
Be aware that business around the globe is done
differently. You want to make sure you understand the
cultural background of your international clients. The
internet can provide you with information such as how
different nations conduct their business; what to do
and what not to do; remember to be respectful when
presenting and accepting business cards; etc. There are
many things you want to make sure you understand so you
don’t fall into a “cultural trap.”
I always suggest wearing business attire, even if your