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Are Virtual Tours Only for Luxury Properties?
Thursday, August 5, 2021 at 9:00 AM PDT The technology behind digital twins may be highly sophisticated, but getting started with Matterport and Insta360 is super simple. In fact, it's as easy as watching our webinar. Our hosts will share how seamlessly the products work together, the benefits of digital twins for the real estate industry and details of an amazing discount bundle to get you set-up and scanning for less. Register now!
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How to Attract International Real Estate Buyers
As a real estate agent, breaking into international markets can seem intimidating. For example, not only is there a language barrier, but the real estate process often works in different ways in different countries. However, working with international clients can be a very lucrative business. With that in mind, if you feel that you are cut out for the work, read on below to learn how to attract international real estate buyers for your listings, and as your clients. Break into the luxury market In truth, much of the foreign investment in the United States real estate market falls within the luxury category. So if your goal is building a stable of global clients, step one is to gain experience selling luxury homes. However, it's important to note that you don't necessarily have to start out working with an international client base. Instead, it may make more sense to build up a reputation for selling luxury real estate in your local market. This way you can have a chance to get accustomed to servicing the needs of a luxury buyer before you take on the extra pressure of dealing with an overseas buyer as well. As for going about that, you should align yourself with a brand that is synonymous with selling luxury real estate. Then once you have that brand power behind you, start marketing to neighborhoods that have luxury homes. Don't be discouraged if it takes you a bit to secure your first listing though. If you do a good job when the opportunity comes around, it won't take long before you earn a reputation as a real estate agent who knows how to handle luxury property. Get your international property specialist certification After gaining some needed experience, make it clear that you specialize in working with international real estate buyers. One way to make that perfectly clear is to obtain your International Property Specialist Certification from the National Association of Realtors (NAR). As the name suggests, this course focuses on teaching real estate agents the intricacies of handling international real estate transactions. It covers all the important information that you need to know before working with various international markets, as well as providing information on the specific transaction tools that you can use when working with a foreign buyer. The course is five days long, and it does come with an exam that you need to take in order to earn the designation. However, as long as you pass the exam, you can use desertification as part of your marketing strategy for your real estate business. For example, you can list the designation on your real estate website so that when an international buyer searches online for a real estate agent, they will see that you have the appropriate credentials. Invest in global marketing Put simply, if your ideal clientele is an international investor, you're going to need to market to global clients. With that in mind, your real estate marketing strategy should be a bit different than it would be for domestic buyers. In this case, your online marketing skills are going to be key. While a domestic buyer may be able to travel to see the property, a foreign investor is likely not going to be able to do so. To that end, the information that you provide for the listing is going to be very important to your client. In particular, this means the photos provided to your international buyer need to be spectacular. You'll also need to be extremely specific in the listing description. In addition, it's a good idea to pay attention to details that will appeal to foreign home buyers. Little things like changing square foot measurements to square meters can make a huge difference. That said, additionally, you may also want to look at marketing yourself and your listings on platforms that are geared toward international buyers. ListGlobally.com is one such resource. However, odds are that there are plenty of other venues aimed specifically towards international buyers, and you should be sure to do your research into the options that are available to you. Be prepared to be a full-service listing agent Regardless of the property type, expect to do more than just negotiate the offer and fill out the paperwork. Foreign buyers are looking for a liaison to the American real estate industry. You may need to explain how financing works, or how a transaction comes together in the American real estate industry. If a potential buyer does end up coming to see a listing, you should also be prepared to provide some recommendations. You may need to provide them with information on where to sleep and where to eat, for instance. At the very least, you should be ready, willing, and able to take on tasks that may fall outside of your normal job duties. The bottom line As an agent, working with international real estate buyers is very different than working with a domestic buyer. However, if you feel that you are well suited for this type of work, it can be a very lucrative niche to carve out for yourself. Now armed with this knowledge, you should have everything you need to begin working with overseas buyers.
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Using Online Marketing to Grow Your Luxury Real Estate Business
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Kendall Jenner's House in 3D: How virtual walkthroughs give A-list celebrities anonymity
How do celebrities move home so secretly? Let's face it, they don't sit up all night trawling home listing websites or hurriedly tidy their house ahead of a full day of viewings. So how do they go about moving house?
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Do You Have the Referrals to Move Up to Luxury Home Sales?
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Be the Analytical Realtor for Commissions on Steroids
This isn't a tutorial on changing your real estate market niche if you're happy with the one you're working. If first time buyers or lower priced homes are your markets, no problem. However, if you work higher priced homes or luxury homes, even condominiums or homes above $200,000, this information is going to change your income for the better. You're seeking "qualified leads" for higher priced homes, so logically, you're searching for prospects with the incomes that make those homes affordable. Who are these individuals? Middle or upper-level management people Self-employed business owners Attorneys, accountants, bankers and other professionals. These aren't the idle rich. They're all working in careers or business, and they all deal with a lot of detail in their business lives. In short, they all share some level of analytical tendencies. Now we know these targeted prospects have two things in common: they're analytical and they have the money to afford higher priced homes. How do we attract high-end buyers for real estate commissions?
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5 Tips for Getting Started in Luxury Homes
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What Luxury Clients Prefer: Apple Devices and Traditional Media
Apple's latest product announcements suggest that the company is trying to position itself as a luxury brand. At a media event on Monday, the company unveiled a $10,000 version of its new Apple Watch as well as a redesigned Macbook that comes in gold. But is Apple really the choice of the well-heeled crowd? The data suggests that it may be. Last spring, an analysis of 3 billion tweets found that iPhone users are geographically concentrated in wealthier areas. The map below shows how iPhones users (in red) coat affluent Manhattan, while Android dominates the less wealthy outer boroughs. The trend repeats in other locales, as well--San Francisco, Los Angeles, and London all map out along the same economic lines. So does that mean you should trade your PC in for a Mac or your Android devices in for an iPhone or iPad? Not necessarily. The best tech for you is what you feel most comfortable using. Android is great for those firmly ensconced in the Google ecosystem--Gmail, Google Drive, and your phone all work seamlessly together on Android. But if you work in a luxury market and you're trying to reflect the values of your client base, switching to Apple may be a route you should consider. At the very least, make sure that your website looks good and functions properly on iOS devices. Similarly, any apps you offer clients (like branded search apps, eSignature, etc.) need to work flawlessly on Apple products.
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Do Luxury Clients Prefer iPhones?
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Robo Agents and Their Tools
This post comes to us from the Market Leader blog: There was a long period when the real estate industry stubbornly refused to change with the times. Agents and brokers had to be dragged – kicking and screaming – into the age of technology. They faced a steep learning curve and scaled it admirably. Today, agents are not only technological whizzes, but some are at the forefront of using technology in real estate. Two of the newest tech gadgets being utilized by agents to photograph or take videos of their listings are the stuff of sci-fi dreams. Google Glass As the debate rages over whether Google Glass is legal to wear while driving, in movie theatres, and – soon, I'm sure – in Vegas casinos, the real estate industry is wholeheartedly embracing the technology. Google Glass looks like a pair of glasses with a rectangular projection on one side. That projection is actually a small Android computer that includes a screen, camera and microphone. Google Glass owners, at this point, are an exclusive, by-invitation only bunch, ponying up $1,500 for a pair. In other words, it's not available to the general public right now.
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How to Use LinkedIn to Attract Luxury Clients
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How to Sell a Luxury Listing
You've just taken your first million-dollar-plus listing. After celebrating your victory over the area's top luxury agent, reality will no doubt begin to set in. If you don't know the first thing about marketing high-end properties, you may wonder what you've gotten yourself into. You may panic. But, you're a pro and you'll do what all pros do – lots and lots of research. Unique Challenges Many established luxury agents recommend that the newbie get his or her feet wet by working under a top-producing agent who deals with high-end properties. The unique challenges of pricing, marketing and dealing with the parties are many and varied – not something one should tackle without experience. If you've already taken the listing, you may want to consider cutting your office's luxury home specialist in on the deal so you can learn as you go. Let's take a look at some of the unique challenges you'll face with your first luxury home listing. Pricing Luxury Homes Luxury homes are not tract homes. They aren't mass-produced by a single developer. They are typically architecture-designed and custom built.
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