But today with air travel becoming increasingly more commonplace, immigration and living choices becoming more readily available and our own market in a recession, many smart real estate companies have turned toward international expansion as a new means of controlled growth.
At the same time many buyers in foreign countries are looking at the United States as an investment opportunity, in spite of or in some cases even as a result of our current depressed housing market. Concurrently, fluctuation in currencies and the advantages created as a result of exchange rates have also increased business opportunities in different markets around the globe.
While America is struggling through the current financial and economic crisis, as many other countries around the world are, several overseas economies find themselves in a stronger situation - even in some cases one of strong growth. Growth in China, India and Russia seems to be resulting in a race to see who can supplant the United States and become the world's next economic power.
And at the heart of many strong economies lies a strong real estate market. One where people have the right to live, own and transact freely with their homes. It is that ability to search, market, buy or sell real estate that forms the focus of this trend.
Three international trends that can impact your real estate business, irrespective of where you live or practice real estate are:
- Global and Multi Language IDX
- Global Multi Listing Systems
- Global Social Media Websites
For individual Realtors®, working the online global tools, websites, services and communities has become a key component in a comprehensive real estate strategy. Even when just serving the local market the importance of being able to translate listing data and serving customers in the language of their choosing is vital. Have buyers from foreign countries be able to find you, communicate with you and even browse your properties for sale. You never know where the next buyer may be coming from.
If you aspire to become an international player the time to start acting global is now.
This is an extract and update from my 160-page 2009 edition of the Swanepoel TRENDS Report.
