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Global Real Estate:Local Markets
Chapter 4: Serving the Global Market
In This Chapter
• Adapting your core real estate skills• Presenting your value proposition• Using Internet tools to build relationships
and prospect• Qualifying and serving foreign clients and
customers
2
Adapting Your Skills
• Regulatory knowledge• Market and product knowledge• Financing• Networking
3
Adapting Your Skills
• Presentation skills• Communication and Listening• Investment knowledge• Patience
4
Adapting Your Skills
• Fiduciary duties• Customer service• Client loyalty• Marketing• Technology use
5
Adapting Your Skills
• Tax issues• Value proposition• Negotiations and decisions• Property presentations
6
Qualifying Foreign Prospects
• Establish and define the relationship• Use questioning skills • May be an ongoing learning process• Use a checklist
7
Qualifying Unsolicited Parties
• Make initial assessment of intentions• Maintain sensitivity to establishing a
relationship• Probing questions may seem too intrusive
and assertive• Same misgivings as domestic clients plus
uncertainty of buying property in foreign country
8
Real Estate Practices Around the World
• Cooperation• Involvement of attorneys• Role of notary • Licensing standards • Negotiable commissions • Property records• Title insurance• Document authenticity9
Does It Have to Be in Writing?
• Clients may believe that exclusive agreements limit market access
• Demonstrate advantages of representation• How much you will do without a signed
listing or representation agreement?
10
Contracts—End or Beginning?
• Basis for relationship and negotiating the details?
• View fill-in-the-blank boilerplate contract as unbinding?
• Sign to avoid losing face?• Candid pre-contract communication• Provide translated versions of contracts
and agreements11
Matching: Are We Speaking the Same Language?
12
13
Key Point Key Point ReviewReview