How to Boost your Business
with the Bustling
Foreign Market
By: Bob Corcoran
MIREALTOR® | DECEMBER 2014
14
Let me start with an important question: are
you missing out on a consumer segment that
could boost your real estate business?
If you’re not looking at foreign home buyers (those looking to move here or recent immigrants), you might be missing out big time.
That’s because sales to foreign consumers in
the United States are sky-rocketing. A new
report from the National Association of Realtors (NAR) has found that from 2013 to 2014,
home sales to foreign buyers saw a whopping
35 percent jump from $68.2 billion to $92.2
billion. That’s a full 7 percent of the $1.2 trillion
existing-home sales marketplace.
Could you use a 7 percent increase in your
business? You might be able to achieve it in the
foreign market. There’s clearly room for more
agents. NAR says just 28 percent of agents they
surveyed reported working with buyers from
other countries.