What Decisions to Make on Marketing to Foreign Buyers? (Part 1)

“To market to foreign buyers or not?” This is the same powerful question as the famous “To be or not to be?” As a real estate seller of just one private property, or a developer with many properties, or a realtor you have to answer this question to yourself, having been equipped with all the preliminary information you can gather before you start doing anything.

Marketing costs money and takes time, so, without some thoughtful consideration and a solid marketing plan with a corresponding budget, you do not have to start spending money and time.

There are obvious situations where and when it is the only possibility to sell your property: Your country or area is in economic and financial problems and thus local buyers do not buy much. You have to answer “Yes”.

There are less obvious situations when the local real estate market is in balance more or less right now, but you hear around a lot how other sellers, developers and realtors benefit from selling real estate to foreigners. Your choice then.

Even in a hot seller’s market when it is no problem to receive a quick offer from a local buyer, sometimes it makes sense to market to the foreigners anyway, as you can get a higher price from the foreign buyers under the circumstances.

If you answer “Yes” to marketing to the foreign buyers, the next question is “To market to the foreign buyers in what country and language?” (Or countries and languages, maybe, but for the easiness of this discussion we will talk about one foreign country and language further in the blog, and if your situation requires, you can reproduce the result for several countries and languages.)

So, how do you find the foreign country for marketing your properties? In the following two posts I will present samples (case studies) of a research that each seller, developer or realtor should do in their own situations: Local real estate market conditions, options and budgets.

Copyright © 2017 by Olga Kellen
All Rights Reserved

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