Oct 10, 2016
Foreign investors represent a big chunk of buyers, particularly at the luxury end of the market. Mr and Mrs Average with a small semi to sell and a desire to realise their equity fast may approach a company such as https://www.propertycashbuyers.com/ in order to enjoy a quick sale. The situation is rather different if you own a penthouse apartment in London’s Canary Wharf or a luxury residence in Paris. Rather than accepting a discounted offer, you will have the means and the patience to wait for the right investor to come along. So how do you go about marketing a property to an overseas buyer?
The Advantages of Marketing to an Overseas Buyer
Foreign investors and buyers are often cash buyers. They are looking for the right property and when they find it, they are sometimes willing to pay a premium. Don’t assume your buyers will pay way over the odds, but if your property is in the right area and offers a good return on investment, you can charge a premium.
Know Your Buyer
The first thing you need to do is work out who your target buyer is. Look at the local property market and see if overseas buyers are interested in your type of property. If you live in a desirable urban area such as London or New York, the answer is likely to be yes, but if you live in a small town or rural area, you are probably better off targeting a local buyer.
Overseas investors are generally more interested in high-end property and luxury developments. They view property as an investment rather than as somewhere to live. This is especially true of investors from the Far East, who will buy properties without seeing them on the basis of capital growth and rental yield predictions or existing rental income.
Foreign investors are often keen to invest, but if they don’t know your property exists, it is hard for them to show an interest. To maximise exposure, you need to market your property online. Different countries have different property portals, so aim to create a listing on the one most relevant to your situation. You should also consider listing your property on international property portals in order to attract the greatest number of views.
Professional Property Listings
Use photos and a professionally crafted listing to attract interest from your target market. Photos and videos are crucial because foreign investors are not going to want to travel overseas to view a property unless it really excites them. Most are happy to go through with the purchase purely on the basis of photos, videos and text descriptions.
Many foreign investors are relocating and are therefore looking for a family home. Again, if your property is well located for schools and other local amenities, make sure you emphasise this on the listing.
Use an experienced estate agent if you think your property will appeal to overseas buyers. For best results, choose an agent with links to the country you are interested in targeting.