Tuesday
September 16, 2014

With International Clients, It's Less About Money

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With International Clients, It's Less About Money

To successfully navigate negotiations with global buyers — especially when they speak a different language — real estate agents need to be alert to buying signs and cultural taboos. 

Because discussions of money are off-limits in many countries, agents instead should ask foreign buyers about their preferences in order to gauge their ideal location and price range, rather than ask how much they want to spend. 

When the clients excuse themselves to discuss the property in their own language, agents should listen to their tone of voice to determine whether one client may be objecting to the deal. Agents also should serve as a resource by offering a staff member to translate on the clients' behalf when discussing contracts and disclosures with an attorney; inform them that down payments must be in a U.S. account for 60 to 90 days prior to the deal closing; and deliver concierge-style services for clients when they are in town. 

In addition, agents must emphasize privacy and confidentiality, understand how the buying and selling process differs in other countries, and show a curiosity and respect for the client's culture.

Source: "Negotiating a Deal With Global Real Estate Clients Is Easier When You Know Their Buying Signs, Cultural Taboos," Inman News (Feb. 3, 2014)

Copyright © 2014 Information Inc.

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