Selling to Foreign Buyers “By Owner” vs. through Local Realtor (Part 2)

If your country regulations do not require a binding contract for sale of your property, nothing stops you from working with as many local realtors as you wish telling them all about your goal of selling real estate to the foreign buyers. Of course you cannot complain if you see that none of the local realtors really markets your property in such a situation; they do not want to spend on marketing if they know that anybody else may sell this property of yours including yourself and they will not get paid for their efforts.

Anyway, going with a local realtor while selling real estate is the laziest way that is only possible for a seller, as you do really nothing after choosing the local realtor according to your goal and rely on the realtor for everything including receiving the foreign buyers, talking with them in their language and taking care of the closing.

The final success of this method of selling real estate depends on the proper choice of this local realtor as they are not born equal, and this is your only task with this way of
marketing. We will talk more about choosing a proper local realtor in the next post. It can so happen that there is no such local realtor with the foreign connections that you require, and then this scheme is not for you.

Bypassing or actually lacking the local realtors with the necessary skills and turning to the foreign realtors for help with your sale directly would be sort of a half & half approach: A “By Owner” sale in your country and going with a realtor in the foreign country – requires from a seller more work and luck, but can definitely make him more money at the end.

The foreign realtors are the buyers’ realtors over there first of all, and they are working with the buyers to find them a suitable property internationally, that is why you as a seller should work on preparing your own promotional material in their language and make the foreign realtors interested in the financial terms of your offer to them, later to arrange an interpreter for the foreign buyers who come to see your property and finally to take care of the business of closing the deal. We will talk more about finding the proper foreign realtors further in this part of the blog.

A summary: As a seller looking for selling real estate to the foreign buyers you can use the help of a local realtor with foreign connections or contact the foreign realtors directly and both methods have their pros and cons.

Copyright © 2017 by Olga Kellen
All Rights Reserved

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