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How to Appeal to Foreign Real Estate Buyers Based on Current Trends

If you look back 15 to 20 years, you would likely see a trend of foreign buyers who, for the most part, were interested in purchasing luxury real estate or condominiums when investing in real estate here in the United States. However, this trend has changed in recent years, with more and more foreign buyers looking to purchase homes elsewhere. In order to best appeal to foreign buyers, it is important to know what they are looking for in the current housing market. Here are a few tips to appeal to the majority of foreign buyers in today’s purchasing climate.

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1. The majority of foreign buyers are now looking to purchase homes as permanent residents, as opposed to a home where they reside for only part of the year. While there are still many people looking for luxury vacation homes or condos, most (~60%) are actually living full-time in the homes they purchase, either as recent immigrants or with work or student visas. While focusing on non-resident buyers can still be an important and lucrative aspect of your strategy, knowing that the majority are actually looking for something more permanent can help shift that focus to appeal to even more foreign buyers with a  wider range of options.

2. Resident foreign buyers spend more on average than the typical U.S. buyer. A typical buyer will spend roughly $278,000, whereas a typical foreign resident buyer will spend around $473,500. Although not all foreign clients will spend more than your average American buyer, it is worth noting that many will be looking for homes in areas of town where the average price is within this range.

3. Not only are they spending more on average, foreign resident buyers are beginning to purchase homes in suburbs, small towns, and other rural areas more often than they purchase within larger cities. This could largely be accredited to things like a stable family situation and making sure they choose a home in a good school district with safe areas for their children to play, so keep these types of things in mind when looking to appeal to these buyers, especially those with school-age children.

Not every potential client you encounter will fall into the “average foreign buyer” category, of course, so the most important thing to consider will be each and every client’s individual needs and desires when it comes to home ownership. However, knowing what trends are current and on the rise when it comes to home ownership for foreign buyers in the U.S. can help put you a step ahead of your competition when it comes to appealing to this demographic, helping you become a leader in your area when it comes to foreign home buyers.

Effective Online Real Estate Marketing: When Your Market Doesn’t Speak English

Marketing to an audience that doesn’t speak English can seem a little daunting if that’s the only language you’re comfortable speaking. The great news is, however, you don’t actually have to speak another language to effectively market to another demographic! You can market to this audience in a variety of ways, and one of the best places to begin is with your online presence, since so many people begin their real estate property search online. Here are 3 tips for targeting your non-English speaking customer base virtually.

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1.     Start with your website. Websites are a great way to interact with an audience that doesn’t speak English. Your buyers are most likely starting their property search online and searching for listings in their preferred language. If your website and listings are translated, they will feel confident in your agency’s ability to assist them, and appreciate that you’ve taken the time to tailor your content to them. Be sure to use a professional translator or agency to handle this. Errors caused by free translation tools can be extreme and have a truly negative effect on your brand, even though you have great intentions!

BONUS TIP! Utilize social media to your advantage. Figure out which social networks your target markets are using most and use those to reach out to your new audience. You may even look into hiring someone who is bilingual and skilled in social media marketing to draft posts and share relevant content in your target market’s preferred language.

2.     Develop a multilingual SEO strategy. Once you have professionally translated your website, you’ll want to consider a multilingual Search Engine Optimization (SEO) strategy. If your website isn’t showing up in search results, the translation you’ve worked so hard and paid to complete will not provide much return on your investment. Analyze your audience and tailor this new strategy for them. You’ll find that it often differs greatly from what you’ve already created for your local English-speaking audience.

3.     Deliver an effective and targeted email campaign. If you are already sending out email newsletters to your clients, consider translating some of these for your non-English speaking clients. You may not have to translate everything within your newsletter, but if you know your client’s email address and preferred language, you can specifically target that group with your amazing your content. Email blasts in someone’s preferred language are more likely to drive traffic to your website and are a quick and easy way to stay in touch with those who have already decided they trust you enough to sign up for it! 

BONUS TIP #2! Don’t forget to ask for referrals or testimonials you can use in your marketing or on your website. Once you’ve driven more traffic there, it’s a great way for your new and/or potential customers to see why working with you is such a wonderful option.

You may also enjoy:

The Benefits of Translating Your Newsletter

How Social Media in Spanish Can Boost Your ROI

How to Use SEO For your Multilingual Audience

Global Real Estate Success (Even When You Don’t Speak Another Language)

Global Real Estate Success (Even When You Don’t Speak Another Language)

You may be wondering what it takes to successfully market to and attract international clients. While speaking the language of the clients you are marketing to may be beneficial, it isn’t absolutely necessary when it comes to reaching an international market. We’ve compiled a list of 5 tips for increasing your likelihood for success.

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ATS Client Feature: VoicePad

ATS Client Feature: VoicePad

It's time for a brand new ATS Client Feature in our monthly series! In case you're new to our Client Features, each month we share one of our favorite translation and interpreting clients. This month we're pleased to feature a client who has been with us since we opened our doors, VoicePad. If you're a real estate agent and could use their services for your business, please reach out to them!

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