Thanks to our many resources, you probably have a good idea who is buying up property in the United States. However, have you considered looking at the countries Americans are moving to?
The U.S. State Department estimated that 9 million U.S. citizens lived abroad in 2016, which is a substantial increase over the previous decade. REALTORS® located both in the U.S. and abroad can benefit from understanding who is buying abroad, where they are buying, and what’s driving their decision to move.
1. Where are Americans moving? Check out where REALTORS® report their clients were moving in NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate.
2. Why are they moving? Americans choose to move abroad for a variety of reasons, and understanding these influencing factors can help you market your services to them. For instance, someone purchasing a vacation home now might ultimately plan to use it for retirement. Have your RSPS or SRES designation, in addition to CIPS? Use those credentials to market yourself!
3. What referral contacts do I have in those countries? After identifying what markets are hotspots for those in your market, check to see if there’s a CIPS designee in that market to assist potential clients. By using your network to share referral business, you are putting your client (and reputation) in the hands of someone who is trained in international transactions and opening the door for that designee to send future referral business to you. There are nearly 4,000 CIPS designees in 48 countries. Search for a CIPS designee and start making the connections you can’t afford not to have.