3 Great Ways to Build a Referral Network Without Borders

If you're looking to grow your business this year, it's time to look at one of the hottest trends in real estate – globalization.

Often times, brokers, builders and developers don't really know how to start working the international front, even though it really does start in your own backyard. That's because America really is a melting pot. And you have a ton of multicultural agents, buyers and sellers in your own marketplace.

So, how do you get started, or if you've done some things, how do you take it to the next level?

First, get to know your local college admissions and housing departments. More universities are looking to recruit foreign students because they pay higher tuition and higher learning has suffered from budget cuts. Upwards of 35 percent of foreign students will purchase a condo or home, far more than their stateside counterparts.

Even if you're in the heartland of America, you'd be surprised at the increasing number of international students that are now attending, way up from 10 or 20 years ago. And if you're in need of personal translation in person or in writing the language, these students can be an effective and affordable resource.

Second, make it a point to recruit multicultural agents. Often times they have a far larger network of friends and family extending on the international front, and this multiplier effect goes a long way.

Ms. Jenny Cui, who helped found the Austin chapter of the Asian Real Estate Association of America works hard to cultivate foreign buyers because they refer at a high rate, often pay cash, and buy at a higher price point.

"I had a Beijing family buy a home in Sugar Land, Texas, because of the highly rated schools, and a client from Shanghai that bought an $800,000 home in Austin, well over double the average cost for a home in the area," Ms. Cui states.

Finally, take a close look at Proxio, the industry's leading multicultural real estate sales platform.

Mr. Bill Hunt, an international business consultant and co-owner of the master franchise for Keller Williams in Costa Rica, puts it this way:

I've been telling people for years that if they're serious about international business, they have to be using Proxio. Being able to send potential buyers listing information in 19 languages is really rocking it, especially when you can weave it in your personal story to get the listing.

The bottom line is that you can't ignore globalization trends in real estate, and with the right tools, connection and agents, it's easier than you think.

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