Out of the $153 billion invested in U.S. residential real estate between April 2017-March 2017, those who primarily reside outside the United States (non-resident foreign buyers) accounted for 42 percent of all foreign buyers, according to the 2017 Profile of International Buying Activity in U.S. Residential Real Estate.
How can REALTORS® get in front of foreign tourists visiting the country? Who knows, they may fall in love with the area, and when they do you’ll want them to remember your name. Below are some tips for getting in front of the tourists through advertisement opportunities:
- Transportation: Look up where the direct flights are coming from. Is this reflective of your buyers? Place ads in the airport, taxis or on public transit.
- Hotels: USTA findings also show that each overseas traveler spends approximately $4,360 when they visit the U.S. and stay on average 18 nights. Look around and notice what hotels they are staying at most. Contact the hotel for ad opportunities.
- Leisure: Find creative ways to place ads among the top leisure travel activities for overseas visitors. USTA research tells us top activities are ranked as follows: (1) shopping; (2) sightseeing; (3) fine dining; (4) national parks/monuments; and (5) amusement/theme parks.
- Tourism Bureaus: Seek out online advertisements through your city or state’s tourism bureau website and publications. Most often these publications are also put in local hotels as guides to the area.
- Think like a tourist: Grab your fanny pack and Google “Things to do in (your city).” See what sites rise to the top and consider placing ads on these sites. Take notes of popular events in your area, then pocket a couple business cards and be there! You never know when or where you’ll meet your next client.
Your next step is to design an advertisement that showcases your global expertise. CIPS Designees can save time and money by downloading customizable CIPS advertisements located in the Global Marketing Center. Not a CIPS designee? Start earning your designation today!