international 101 - texas today and tomorrow (richard miranda)
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This is a presentation on Texas Today and Tomorrow by Richard Miranda at HAR's International 101 Day.TRANSCRIPT
International Real Estate in Texas:Cindy Fauth, Commercial & Global Services
National Association of REALTORS®
Texas International Homebuyers Report
12% of all international buyers
in U.S.
Impact is Immense
$11.06 Billion
Texas International Homebuyers Report
Third-largest immigration population in U.S.
6 of the top metro areas for immigration:
#6 Houston|Sugar Land|Baytown#8 Dallas|Fort Worth|Arlington
#26 Austin|Round Rock|San Marcos#27 San Antonio|New Braunfels
#28 El Paso#40 McAllen|Edinburg|Mission
Texas International Homebuyers Report
Naturalized citizens: 12% more likely to
own a home than native Texans
Over 75% of naturalized U.S. citizens in
Texas are homeowners, compared to only
63.5% of native citizens in Texas.
What Makes Texas So Attractive?
Criteria driving
destination choice:
Proximity to home country/airport.
Presence of relatives, friends, associates.
Job/education opportunities.
Climate and location.
Affordability.
Texas International Homebuyers Report
59% 18% 9% 5% 4%
Texas International Home Buyers Report
• Over 65% of Mexican homebuyers in U.S.
purchased in Texas.
• Mexican homebuyers accounted for $4.5 billion, or
approximately 5%, of all international home sales.
• 62% purchased to relocate, while 33% purchased a
home to serve as a vacation home or rental property.
• 46% paid with cash, 54% financed with a mortgage.
Foreign buyers spent $149,000 more (mean
purchase price) on homes in the U.S. than domestic buyers.
60% of foreign buyers paid in all cash, versus
about a third of domestic (U.S.) buyers.
59% of international clients were from
referrals.
NAR’s Profile of International Home Buying Activity
Realtor.com International
What should you be doing?
1. Don’t assume international clients are searching the same way U.S. clients do.
Commonalities: Internet Connection, Content, Video
2. Establish a niche.
What countries/cultures are your affinity? Think about:-Heritage-Language-Geographic location -Personal interests
What’s the draw for foreigners to your market? - Foreign companies- University/community college- Luxury properties, condos, coastline, or other lifestyle attributes
What should you be doing?
China: They don’t have Google. They use Baidu. What are their SEO search requirements/algorithms?
Establish a niche, think about how they search.
What should you be doing?
China: Uses SouFun real estate search engine.
Canada: Zoocasa
Tips from NAR Global
3. Video transcends language. Quality video of properties to market overseas. Visuals overcome language and timezone barriers.
4. Be the expert. What do you offer that they can’t Google?Know your market and neighborhoods in YOUR area.
Tips from NAR Global
Tips from NAR Global
5. Use tech to connect your offline connections online. Make it easy for people to get to you. Skype.FaceTime. Use Google Translate to respond electronically in their language (even if it’s just a phrase or two!)
CONTACT INFO ON EVERY PAGE OF YOUR SITE!
Tips from NAR Global
Challenges:
Language
Ability to travel
Too complicated, too time-consuming
Obtaining financing
Type of properties sought
REALTOR.ORG/GLOBAL
THEGLOBALVIEW.BLOGS.REALTORS.ORG
Give and Receive Referral Business
www.realtor.org/earncips
How can NAR help? How Can NAR Help?
Research
Education
Bilateral Partnerships
Global Business Councils
realtor.org/global
Join the Conversation
Facebook.com/narglobal
Twitter.com/narglobal
LinkedIn Official Group: NAR Global
The Global View Bloghttp://theglobalview.blogs.realtor.org/
