When It Comes To International Real Estate Knowledge is Power

As real estate matures more throughout the world along with the increased transparency and impact of the evolving internet, real estate brokers have vast possibilities to gain lucrative international, long distance business to which they didn’t previously have access to.

The business of trading international real estate is on the rise, mainly thanks to the connectivity of our world and the Internet.

Astounding to many is the fact that ten percent of the total sales of real estate in the nation is associated with international buyers. On top of that total sales data in 2017 are demonstrating a pattern deserving of your attention in that they are climbing by nearly 50% every year totaling more than $150 billion. All the figures above procured from NAR (National Association of Realtors) and are thought to be accurate.

costa rica home for sale
Photo courtesy of costaricarealestate.com

The most appealing component to dealing with international buyers, from the real estate agent’s perspective, is deals including an international buyer have the tendency to return more substantial commissions. A prominent portion of international buyers and sellers are affluent global elites looking for promising investments and luxurious vacation homes.

Although do not for a moment assume that breaking in to this market is easy. It’s not!

Approaching this part of the marketplace however will include overcoming a couple obstacles including language and currency exchange to name a few. Regularly though many international buyers will never invest in to a country without doing their research and having strategies in place to reduce any “lost in translation” troubles.

Among all countries actively active in the US real estate industry, China demonstrably dominates and is responsible for over half the over-all international sales volume in the United States alone. All of this despite the many distinctions in culture, language and investing protocols.

With such a lucrative marketplace in existence, exactly how do you hedge in on it?

CPROP’s end-to-end electronic exchange administration system was made to expose real estate agents to international leads and assist them to safely and transparently close deals.

Fundamentally it utilizes technology to improve the sales process of companies, from the starting of a deal to closing. The following are 3 ways real estate brokers can jump on this immense opportunity.

Register with a trustworthy international program

Hedging in on the international real estate sector isn’t easy for real estate brokers who have not ventured here before. You shouldn’t go getting all dollars signs in your eyes rather than completely researching where on the Web these networks might be. Once you have found them you will definitely have to hedge inwards and gain trust within the international real estate investor community.

If the system includes a provider directory with unfiltered market ratings and reviews plus automated translations, better yet.

Think confidence and security

Photo courtesy of costaricarealestate.com

As the old saying goes, long-distance relationships rarely last, then again in this case they can and do you basically have to prepare specifically in the case of working across different languages.

Planning is paramount to productive international real estate buys and included in planning you must give some thought to trust and security.

Technology shifts at an awesome pace and today blockchain technology has entered the mix and permanently changed the way that realtors do business on the net.

“Blockchain lets real estate contracts to generally be so highly protected/encrypted that blocks any changes be unnoticed.” says Gonzalo Gutierrez a renowned Costa Rica real estate lawyer.

Possibly among the finest elements to working with blockchain technology is for down payments and payments held in escrow.

Locate dependable, successful alliance

One thing is closing deals within the country however it is a uniquely different thing when completing international deals and these sales require a whole lot more care to secure a clean closing.

“Considering all the moving parts to your awaiting contacts, leads and deals is essential to your success. Have you any idea about the real time standing of anybody in your pipeline right this moment? If you don’t you really should.” said blockchain advocate and SaaS developer Don Halbert.

An electronic digital transaction management system manufactured for international deals that walks parties through each step of the closing procedure are usually particularly helpful here. The benefit to this promising future technology is how this might improve the work flow, provide security and simplify communications for real estate brokers of international real estate.

Read More
Buyer’s Agent and Listing Agent, The Difference

While stepping into the real estate market for the first time, there are a lot of terminologies that confuse the hell out of newbies.
There are specific terms that even the most experienced real estate traders don’t understand. However, it is vital that once you step into a market; you know it inside out.


Start out with basics like what to call the major parties in a real estate deal and then catch up from there. During your learning, you’ll come to the terms, buyer’s agent and listing agent.

These often confuse many people. In a normal real estate market, someone who is selling a property hires a person known as a listing agent to market and sell the property for them.
While the person hired by buyers to assist them with the search and dealing process is known as a buyer’s agent.

Why Hire a Buyer’s Agent?
If you purchase a new property, hiring a buyer’s agent shall be a wise decision for various reasons.
First of all, enlisting a buyer’s agent would mean you have someone professional on your side who is serving in your best interest.

Secondly, experienced realtors bring their knowledge and experience which you can use in your search. Someone local would know the location and its people better than you.
Finally, realtors also have access to the Multiple Listing Service, a web-based database to assist realtors in gaining more information about listings.

Why Hire a Listing Agent?
In case you’re planning to sell a property, having a listing agent with you can help a great deal in closing a perfect deal.

According to our statistics, 90% of sellers hire a listing agent to help them sell their properties, which improves their profit on the sale.

A listing also possesses all the traits mentioned for a good buying agent and an ability to devise new marketing strategies to sell your property quicker.
The agent can also help you with preparing and maintaining your home for prospective buyer’s visits.

In conclusion, a buyer’s agent is someone you can also call a “selling agent” right after entering the contract.
Whereas a listing agent represents the seller in the deal, hence they’ll be called a seller’s agent.

Read More
6 Tips for Making Sure You Choose the Right Real Estate Agent and Save Yourself from Misery

There are real estate agents and agencies everywhere. How do you know which ones are good and which ones are not? Follow these 5 tips to find out more about potential agents.

1. Speak to Previous Clients

Talk with recent clients to find out what their experience was. You can also compare listings that were the same as yours in terms of asking price, selling price, time on the market and location. Not all agents are equal. Kelowna real estate agents at the Denk Team for example sell on average 1.8% higher than the average MLS sale. This is one example.

2. Check Licensing

Find out if the potential Tallahassee real estate agent is registered and licensed. Check for disciplinary issues or problems with the regulatory board.

3. Choose One That Wins Awards

Real estate agents who win awards are the best. Their peers decide who receives awards like ‘Realtor of the Year’. Agents who win these awards can be trusted for good service.

4. Choose One with Credentials

Some real estate agents specialize in certain areas of realty. These agents will have credentials behind their names to indicate where their specialty lies. This will help you find the agent with the right credentials for you. Examples include CRS (Certified Residential Specialist) and ABR (Accredited Buyer’s Representative).

5. Find Out How Long the Agent Has Been in Business

The longer the real estate agent has been in business, the more his or her knowledge and experience. You want someone who knows the area where your interest lies and who knows the process and navigation for what you want to do.

6. Look at Current Listings

Looking at what the agent currently has listed will help you see how they will represent you. Check online listings and how the properties are presented and advertised. Look at homes that are like the one you are looking to buy or sell and compare prices. You will also be able to see how many listings the agent has and whether they have a healthy business or not.

Read More
What You Need to Know Before Buying a House and Committing to a Long-Term Expense

Buying a home is a huge step and should be considered carefully. Use the list of what you need to do before buying a house to see whether this is really what you want.

1. Is it Worth it?

Weigh up the pros and cons of renting and buying. Both have their advantages and draw-backs. This is a decision you must make.

2. Know the Process

Learn about the process of buying a home. Find out what it entails and what you will need.

3. Watch Out for the ‘Fixer-Upper’

Fixer-uppers can be misleading. Be sure that you are willing and able to put in the work and finances that these properties often require.

4. Research the Prospective Property

Find out as much as you can about the history of the property and its utilities. This will give you an idea of what you are buying.

5. Deal with Difficult Buying Situations

Decide whether you are going to focus on buying a house or a selling a house. Doing both at the same time can get tricky.

6. Save

Save up to put down a larger down payment. This is especially the case in a hot market like Kelowna realtors are seeing there in the Okanagan Valley.

7. Get Your Financials Sorted

Make sure that you have a good credit history. Keep paying your bills on time and save up where you can. Practice living on the finances you will have after buying a home. This will tell you if you can afford it.

8. Keep an eye out for deal-breakers

You know what you want your home to look like and the features that it must have, but look out for the deal breakers. The 6 deal-breakers that might be a sign that you need to rethink are:

• Roof repair needed
• Location in high-risk flood zone
• Plumbing issues
• Restrictions on home improvement
• Outdated electrical systems

9. Buy at Less Than You Can Afford

“There are many home-buying calculators that tell you what you can afford. Be careful of going for a home that is your maximum. Rather find one that is a bit less than you can afford and gives you a buffer.” says a well-known realtor on Vancouver Island.

10. Take Your Time

There is no need to rush this important decision. Shop around for homes that you like, mortgages and insurance. Make sure you find the home that you will love to live in for many years.

Read More
5 Trends That Will Influence the Housing Market in the Year Ahead

The housing market always keeps us on our toes. The trends are aiming for a shift in the year to come. With all that is happening in the financial sector and political areas, things should get interesting. Keep an eye on the trends below.

1. Rising rates

Rates went up at the end of last year. This was only the second time in 10 years. However, we can expect at least another two or three increases in the coming year. This will lead to higher mortgage rates which will make it difficult for potential home buyers to get the house they want.

2. More Credit

Despite the rising rates, mortgage credit might be more widely available. This will be because of lending standards being loosened. First-time home buyers might get a break by being charged a lower fee than others who have owned homes before.

3. More New Homes

This might seem a strange trend looking at the economic environment, but expect more houses to be built. The high demand from buyers, higher wages for builders and looser credit standards, create the right environment for building new homes.

4. Medium-Sized Cities

Medium-sized cities will continue to rise as people flock to higher paying jobs. This trend strains the real estate market as there is often space limitations where these jobs are available. As younger people continue to search for higher paying jobs and low-cost living, this trend will keep going.

5. Foreign Buyers are Here to Stay

Foreign buyers are those who buy real estate in other countries in order to keep their money safe. As the economy of other countries become slow, they turn to those who are stable and will offer safe storage for their wealth. This influx of foreign capital will continue.

Read More