Interna'onal Real Estate The Worldwide Property Marketplace

Transcription

1 Interna'onal Real Estate The Worldwide Property Marketplace MICHIGAN REALTORS Broker Summit April 23, 2014 Angela C. Eliopoulos ABR AHWD CIPS CLHMS GRI RSPS TRC GLOBAL OWNER PROPERTIES USA EUROPE /

2 TOPICS Why Interna0onal? Foreign Buyers in the USA Purchasing Proper0es Abroad Online & other Marke0ng Resources Networking Interna0onal Events Sample lis0ngs Open discussion

3 WHY INTERNATIONAL? IMPORTANT DATA The dollar volume of purchases by foreign buyers of real estate is es'mated at $ 68.2 billion for the 12 months ended March This accounts for about % of total exis'ng home sales of about $ 1 trillion over the same period. Eliopoulos 2010

4 FOREIGN BUYERS IN THE USA MAJORITY OF BUYERS COME FROM Canada China India Mexico United Kingdom

5 WHAT DO THEY BUY? Single- family homes for residen'al purposes Condos for students Second homes Commercial for investment

6 CLIENTS IN YOUR BACK YARD? Data.com www. Realtor.org/Research/Research/ReportsIntl Demographics, Real Estate prices, Ancestries, Race, Income, Educa'on, Employment, Crime, Religion, State By State Interna'onal Business Reports, Foreign Investment in US Real Estate Eliopoulos

7 Overall Top US 10 Ci0es Most searched by interna0onal consumers 1. Los Angeles, CA 2. Miami, FL 3. New York, NY 4. Detroit, MI 5. Las Vegas, NV 6. Orlando, FL 7. Fort Lauderdale, FL 8. Houston, TX 9. Chicago, IL 10. San Diego, CA

8 PURCHASING PROPERTIES ABROAD WORKING WITH BUYERS OF FOREIGN PROPERTIES Where to start from Ac'on plan in a nut shell 1) Iden'fy your foreign market(s) 2) Visit the area 3) Acquire Knowledge & Educa'on 4) Market your services widely 5) Network- network- network Eliopoulos 2010

9 Top 10 countries searched on REALTOR.com Interna0onal (excluding U.S.) in December Italy 2. Mexico 3. Jamaica 4. Costa Rica 5. Dominican Republic 6. Spain 7. France 8. Bahamas 9. Switzerland 10. Canada

10 PURCHASING PROPERTIES ABROAD QUICK CHECKLIST Make a list of client s requirements Confirm financial strength and method of payment Study the protocol, business prac0ces, nego0a0ng techniques and FEES in the country of interest Research for and interview agent(s) specializing in that country Confirm availability of Team of Experts she/he works with Ask if there is a need for interpre'ng services Inquire about 0tle insurance, escrow services, taxes and closing procedure

11 M A R K E T I N G 1. Tradi0onal Media (Print Adver0sing) Wall Street Journal/Home Magazines/In- flight magazines Look for combina'on print and online exposure (i.e. Unique Homes) 2. Online Media (Internet Adver0sing / Videos) Property websites, unique URL, YouTube.com, VisualTour.com 3. Networking with other interna0onal agents Via , blog, LinkedIn, Facebook, Google+, Twimer 4. Networking with other interna0onal service providers Developers, Amorneys, CPAs, Title Companies, Interior Decorators etc.

12 As of 2/2014, lis'ngs in 36 countries and 11 languages: The Americas (USA, Brazil, Costa Rica, Honduras, Jamaica, Bahamas, Mexico, Canada, Argen'na, Aruba, An'lles, Belize, Dominican Republic, Saint Lucia, Dominica, Columbia) Europe (Poland, France, Italy, Portugal, Romania, Spain, Slovakia, Bulgaria, Croa'a, Serbia, Latvia, Switzerland, Greece, Malta, Cyprus) Asia (Philippines, Israel, India, Thailand) Africa (Morocco) Oceania (New Zealand)

13 RESOURCES - Click on Global Resources hmp:// and- cer'fica'ons/cips- designa'on/cips- network/cips- search Find a Cer'fied Interna'onal Property Specialist hmp:// - Residen'al Property Investment Research - Foreign Currency Converter usa.com - USA Chapter of the Interna'onal Real Estate Federa'on Interna'onal Real Estate Federa'on based in Paris - Members in 50 countries around the world - Associa'on of Foreign Investors in Real Estate Click on Press Room & then on Annual Foreign Investment Survey

14 NETWORKING Amend Social Events, Mee'ngs at Local Board & Int l Councils, Conferences, Seminars, Embassy par'es, Foreign Clubs events, Chamber of Commerce mee'ngs etc. Find out about 2014 Interna'onal Real Estate Events at: Eliopoulos 2010

15 INTERNATIONAL EVENTS 2014 May NAR Conven'on, Wash., DC May th FIABCI World Congress, Europe, Luxembourg Oct MIPIM UK, Olympia, London October 23 SIOR World Conference, Nashville, Tennessee Nov 7-10 NAR Conference, New Orleans Dec 2-3 MIPIM Asia, Hong Kong

16 SAMPLE LISTINGS Residen0al / Resort Homes on the islands at ***Great bargain prices*** Example: Luxury villa in Mykonos Listed at 1.2 M euros (~1.4M dollars) SOLD at 800,000 (~$980,000)

17 Island of SANTORINI, Greece FOR SMALL INVESTORS 2 bed/2 bath windmill at 120,000 (~ $144,000) Poten'al ROI: 20% Example at

18 COMMERCIAL FOR SALE Athens, Greece Landmark 4- star Hotel in the historic center of Athens 400 rooms Walk to metro and entertainment Conference facili'es Pool/Café/Restaurant overlooking the Acropolis Fully renovated in 2004 Offered at 70M ~$86M

19 OPEN DISCUSSION Angela C. Eliopoulos ABR AHWD CIPS CLHMS GRI RSPS TRC GLOBAL OWNER PROPERTIES USA EUROPE Tel: / Eliopoulos 2010