Global Real Estate: Local Markets Chapter 4: Serving the Global Market

In This Chapter Adapting your core real estate skills Presenting your value proposition Using Internet tools to build relationships and prospect Qualifying and serving foreign clients and customers 2

Adapting Your Skills Regulatory knowledge Market and product knowledge Financing Networking 3

Adapting Your Skills Presentation skills Communication and Listening Investment knowledge Patience 4

Adapting Your Skills Fiduciary duties Customer service Client loyalty Marketing Technology use 5

Adapting Your Skills Tax issues Value proposition Negotiations and decisions Property presentations 6

Qualifying Foreign Prospects Establish and define the relationship Use questioning skills May be an ongoing learning process Use a checklist 7

Qualifying Unsolicited Parties Make initial assessment of intentions Maintain sensitivity to establishing a relationship Probing questions may seem too intrusive and assertive Same misgivings as domestic clients plus uncertainty of buying property in foreign country 8

Real Estate Practices Around the World Cooperation Involvement of attorneys Role of notary Licensing standards Negotiable commissions Property records Title insurance Document authenticity 9

Does It Have to Be in Writing? Clients may believe that exclusive agreements limit market access Demonstrate advantages of representation How much you will do without a signed listing or representation agreement? 10

Contracts—End or Beginning? Basis for relationship and negotiating the details? View fill-in-the-blank boilerplate contract as unbinding? Sign to avoid losing face? Candid pre-contract communication Provide translated versions of contracts and agreements 11

Matching: Are We Speaking the Same Language? 12

13 Key Point Review