presentation at michigan broker summit 4 23 14 rev...internaonal*real*estate* !...
TRANSCRIPT
Interna'onal Real Estate The Worldwide Property Marketplace
MICHIGAN REALTORS® Broker Summit April 23, 2014
Angela C. Eliopoulos
ABR AHWD CIPS CLHMS GRI RSPS TRC GLOBAL OWNER PROPERTIES
USA – EUROPE www.GlobalOwner.com / www.GlobalOwner.gr
TOPICS • Why Interna0onal?
• Foreign Buyers in the USA
• Purchasing Proper0es Abroad
• Online & other Marke0ng
• Resources
• Networking
• Interna0onal Events • Sample lis0ngs
• Open discussion
Eliopoulos © 2010
WHY INTERNATIONAL?
IMPORTANT DATA The dollar volume of purchases by foreign buyers of real estate is es'mated at… $ 68.2 billion for the 12 months ended March 2013. This accounts for about... 6.3 % of total exis'ng home sales of about… $ 1 trillion over the same period.
FOREIGN BUYERS IN THE USA
MAJORITY OF BUYERS COME FROM … • Canada
• China
• India
• Mexico
• United Kingdom
WHAT DO THEY BUY? • Single-‐family homes for residen'al
purposes
• Condos for students
• Second homes
• Commercial for investment
Eliopoulos © 2010 Eliopoulos © 2011
www.QuickFacts.Census.gov www.City-‐Data.com www. Realtor.org/Research/Research/ReportsIntl
Demographics, Real Estate prices, Ancestries, Race, Income, Educa'on, Employment, Crime, Religion, State By State Interna'onal Business Reports,
Foreign Investment in US Real Estate
CLIENTS IN YOUR BACK YARD?
1. Los Angeles, CA 2. Miami, FL 3. New York, NY 4. Detroit, MI 5. Las Vegas, NV 6. Orlando, FL 7. Fort Lauderdale, FL 8. Houston, TX 9. Chicago, IL 10. San Diego, CA
Overall Top US 10 Ci0es Most searched by interna0onal consumers
Eliopoulos © 2010
Where to start from … Ac'on plan in a “nut shell” 1) Iden'fy your foreign market(s) 2) Visit the area 3) Acquire Knowledge & Educa'on 4) Market your services widely 5) Network-‐network-‐network
PURCHASING PROPERTIES ABROAD WORKING WITH BUYERS OF FOREIGN PROPERTIES
1. Italy 2. Mexico 3. Jamaica 4. Costa Rica 5. Dominican Republic 6. Spain 7. France 8. Bahamas 9. Switzerland 10. Canada
Top 10 countries searched on REALTOR.com Interna0onal
(excluding U.S.) in December 2013
PURCHASING PROPERTIES ABROAD QUICK CHECKLIST • Make a list of client’s requirements • Confirm financial strength and method of payment • Study the protocol, business prac0ces, nego0a0ng
techniques and FEES in the country of interest • Research for and interview agent(s) specializing in that
country • Confirm availability of Team of Experts she/he works with • Ask if there is a need for interpre'ng services • Inquire about 0tle insurance, escrow services, taxes and
closing procedure
M A R K E T I N G 1. Tradi0onal Media (Print Adver0sing) Wall Street Journal/Home Magazines/In-‐flight magazines Look for combina'on print and online exposure (i.e. Unique Homes) 2. Online Media (Internet Adver0sing / Videos) Property websites, unique URL, YouTube.com, VisualTour.com 3. Networking with other interna0onal agents Via email, blog, LinkedIn, Facebook, Google+, Twimer 4. Networking with other interna0onal service providers Developers, Amorneys, CPAs, Title Companies, Interior Decorators etc.
www.Realtor.com/Interna0onal As of 2/2014, lis'ngs in 36 countries and 11 languages: The Americas (USA, Brazil, Costa Rica, Honduras, Jamaica, Bahamas, Mexico, Canada, Argen'na, Aruba, An'lles, Belize, Dominican Republic, Saint Lucia, Dominica, Columbia) Europe (Poland, France, Italy, Portugal, Romania, Spain, Slovakia, Bulgaria, Croa'a, Serbia, Latvia, Switzerland, Greece, Malta, Cyprus) Asia (Philippines, Israel, India, Thailand) Africa (Morocco) Oceania (New Zealand)
RESOURCES www.Realtor.org/global -‐ Click on Global Resources hmp://www.realtor.org/designa'ons-‐and-‐cer'fica'ons/cips-‐designa'on/cips-‐network/cips-‐search Find a Cer'fied Interna'onal Property Specialist hmp://www.globalpropertyguide.com/ -‐ Residen'al Property Investment Research www.xe.com -‐ Foreign Currency Converter www.fiabci-‐usa.com -‐ USA Chapter of the Interna'onal Real Estate Federa'on www.fiabci.org – Interna'onal Real Estate Federa'on based in Paris -‐ Members in 50 countries around the world www.afire.org -‐ Associa'on of Foreign Investors in Real Estate – Click on Press Room & then on Annual Foreign Investment Survey
Eliopoulos © 2010
NETWORKING Amend Social Events, Mee'ngs at Local Board & Int’l Councils, Conferences, Seminars, Embassy par'es, Foreign Clubs events, Chamber of Commerce mee'ngs etc. Find out about 2014 Interna'onal Real Estate Events at:
www.realtors.org/global www.fiabci.org
INTERNATIONAL EVENTS 2014
May 12-‐17 NAR Conven'on, Wash., DC May 17-‐22 65th FIABCI World Congress, Europe, Luxembourg Oct. 15-‐17 MIPIM UK, Olympia, London October 23 SIOR World Conference,
Nashville, Tennessee Nov 7-‐10 NAR Conference, New Orleans Dec 2-‐3 MIPIM Asia, Hong Kong
Homes on the islands at ***Great bargain prices***
Example:
Luxury villa in Mykonos • Listed at 1.2 M euros (~1.4M dollars)
• SOLD at €800,000 (~$980,000)
Residen0al / Resort
SAMPLE LISTINGS
FOR SMALL INVESTORS 2 bed/2 bath windmill at €120,000 (~ $144,000)
Poten'al ROI: 20% Example at www.windmill.gr
Island of SANTORINI, Greece
400 rooms • Walk to metro and entertainment • Conference facili'es • Pool/Café/Restaurant overlooking the Acropolis • Fully renovated in 2004
Offered at €70M ~$86M
Landmark 4-‐star Hotel in the historic center of Athens
COMMERCIAL FOR SALE – Athens, Greece
Eliopoulos © 2010
OPEN DISCUSSION
Angela C. Eliopoulos ABR AHWD CIPS CLHMS GRI RSPS TRC GLOBAL OWNER PROPERTIES
USA – EUROPE Tel: +1.703.989.5989
[email protected] www.GlobalOwner.com / www.GlobalOwner.gr