Research provides many excellent insights. To advance your business, however, those insights are only beneficial if they lead to action steps. Here are five high-priority items, based on findings from the Profile of International Transactions in U.S. Residential Real Estate 2018.
1. Pinpoint global niches in your market.
Who is buying in your market and why? NAR’s research reveals key trends, but you may need to dig deeper to identify specific local opportunities.
If your market is located in a U.S. state with high numbers of international buyers, you may be able to concentrate on one country and build a business plan around this group. If you’re in a market with lower numbers, you may need to take a different approach.
For example, if you identify an employer that’s hiring skilled workers from one or more countries, explore offering assistance with their housing needs, stressing your international credentials. For employers, it can be an excellent selling point when attempting to attract overseas talent.