ARG Florida Realty, LLC is expanding its 100% real estate commission sales platform to new office in Miami.

ARG Florida Realty, LLC is expanding its 100% real estate commission sales platform to new office in Miami.

Blog written by Daniel Bollinger, article submitted by http://world.einnews.com

Congratulations to ARG Florida Realty for their expansion into the Miami area. This is a company that realizes opportunity when it presents itself and takes advantage of market forces. And the reason they have expanded into Miami? “Surging International Real Estate Buyers driving expansion of its 100% commission sales platform into its new Brickell Office in Downtown Miami.”

International buyers on average pay all cash, purchase a more luxurious home, and like Florida because it provides more value for the money.

Now why wouldn’t you want to have your listings translated into 18 different languages with SEO optimization in these languages to give yourself a global presence on the web?

Quotes:

“Surging International Real Estate Buyers driving expansion of its 100% commission sales platform into its new Brickell Office in Downtown Miami.”

“80 percent of surveyed Realtors said that international clients found Florida property less expensive than similar property in their home country. Overall, foreign buyers say the U.S. residential housing market provides a good value.”

“International buyers paid a median price of $216,477 for a home unit in Florida compared to the state’s overall median price of $144,074, and the U.S. median price of $187,483. In general, buyers from Brazil, Venezuela and Western Europe purchased above the median price.”

“84 percent of international transactions are cash sales.”

 

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Daniel Bollinger
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Source: http://world.einnews.com/pr_news/198234599/arg-florida-realty-llc-is-expanding-its-100-real-estate-commission-sales-platform-to-new-office-in-miami

ARG Florida Realty, LLC is expanding its 100% real estate commission sales platform to new office in Miami.

Surging International Real Estate Buyers driving expansion of its 100% commission sales platform into its new Brickell Office in Downtown Miami.

MIAMI, FL, USA, April 2, 2014 /EINPresswire.com/ — Hollywood, FL (I-Newswire) March 29, 2014 – Next month, ARG Florida is opening its latest office in Brickell, Downtown Miami. If you are an real estate agent or real estate broker and you want to make more money, then lodge your license with ARG Florida Realty.

At the March 26, 2014 real estate conference at the Conrad Hotel in Brickell, Downtown Miami, Robert Salmaci announced that Randall Layman has joined ARG Florida Realty, LLC in Hollywood, Florida as the Regional Sales Director for ARG Florida Realty, LLC in Hollywood, Florida. ARG Florida Realty is a full service commercial and residential real estate brokerage. Robert Salmaci is the principal broker and owner of ARG Florida Realty, LLC. Mr. Salmaci brings over 15 years of real estate experience to ARG Florida Realty. In the last three years ARG Florida Realty has closed over $75 million in real estate transactions. Mr. Salmaci and Mr. Layman are recruiting an “agent army” to serve the people and businesses of South Florida.

Mr. Layman said “South Florida is real estate. South Florida has never engineered a precision automobile. South Florida has never put a man on the moon. South Florida took a swamp and created the most enjoyable place in the world to work, play, and raise children.”

Real estate is the driving industry of South Florida.

For the 12 months ended July 2013, existing home sales in Florida – single-family homes, townhomes and condos – accounted for 327,350 transactions worth $74 billion dollars. Of that total, there were 22,572 transactions worth $6.4 billion dollars to foreigners.

•Two in three (63 percent) of Realtors in Florida have international clients, compared to the national average of 27 percent.

•Of the Realtors who have international clients, 33 percent (one in five state Realtors) said that international transactions made up 26 percent or more of their business compared to 12 percent of Realtors nationally.

•80 percent of surveyed Realtors said that international clients found Florida property less expensive than similar property in their home country. Overall, foreign buyers say the U.S. residential housing market provides a good value.

•31 percent of respondents say Florida’s percentage of international clients has increased in the last five years, compared to 21 percent at the national level.

•Canadians lead the way (30 percent of total Florida international sales) as the largest source of buyers, followed by Venezuela (8 percent), Brazil (7 percent), and the U.K. (6 percent).

•International buyers focused most of their effort in Miami-Miami Beach (21 percent of international sales in Florida), Orlando-Kissimmee (14 percent) and Fort Lauderdale (9 percent).

•International buyers paid a median price of $216,477 for a home unit in Florida compared to the state’s overall median price of $144,074, and the U.S. median price of $187,483. In general, buyers from Brazil, Venezuela and Western Europe purchased above the median price.

•84 percent of international transactions are cash sales.

•International buyers had a preference for detached single-family homes (47 percent of Florida foreign sales), followed by townhouses (11 percent) and condominiums (34 percent).

ARG Florida Realty based in Hollywood, Florida is now opening an office in Brickell, Downtown Miami to cater to its international clients. ARG Florida Realty pays 100 percent commission to its agents and brokers. There is only a $299 transaction fee. There are no and there will never be any desk fees.

ARG Florida Realty provides E&O Insurance, Real Estate technology, leads, CRM and Email Campaigns, IDX Agent Websites, 24/7 Access to Experienced Brokers, Online Office with Agent Tools and Transaction Desk, Marketing Materials, and One-on-One Training. Board and Non-board Affiliated Agents are welcome. In June, ARG Florida is opening its In-House Title Company.

ARG Florida Realty pays 100 percent commission. There is only a $299 transaction fee. There are no and there will never be any desk fees. In exchange, ARG Florida Realty provides E&O Insurance, Real Estate technology, leads, CRM and Email Campaigns, IDX Agent Websites, 24/7 Access to Experienced Brokers, Online Office with Agent Tools and Transaction Desk, Marketing Materials, and One-on-One Training. Board and Non-board Affiliated Agents are welcome. In June, ARG Florida is opening its In-House Title Company.

Call Randall Layman at (305) 747-1844 or http://myargrealty.com/index.php/join-our-team.

Randall Layman
ARG Florida Realty, LLC
305-747-1844
email us here

International buyers like the Southern California real estate market

International buyers like the Southern California real estate market

Blog written by Daniel Bollinger, article contributed by http://www.sgvtribune.com

As the international real estate market continues to heat up and grow California is once again getting major recognition as a hot spot for International Investors, especially Southern California.

These statistics are great for any Californian real estate agent who is interested in success in the coming years. 85% of respondents surveyed said that the United States is the ONLY country to purchase real estate because of our stability. 69% PAY ALL CASH. And the third quote mentions the amenities that International buyers are looking for. This is a great piece of information because if you can understand the amenities you should realize that this market segment wants “Luxury”.

So if you want to sell the most luxurious homes in your area to buyers who are mostly paying IN ALL CASH

Why aren’t you signed up with Real-Buzz.com?

Quotes:

Eight five percent of the buyers shopping for homes in the state last year said that they only considered purchasing a home in the U.S. because its stable government and financial system would guarantee their home investment.”

“The survey also found that 69 percent of international buyers paid all cash for their properties”

“The international set has an eye for style, too. Forty-four percent of the international home buyers purchased homes with designer kitchens, 26 percent purchased homes with a wine cellar, and 9 percent purchased homes with a sauna. Other home amenities that international buyers wanted include a private beach, putting green, heated floors and outdoor kitchens.”

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Daniel Bollinger
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Sales and Business Development Manager
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DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us

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Source: http://www.sgvtribune.com/business/20140403/international-buyers-like-the-southern-california-real-estate-market

International buyers like the Southern California real estate market

Posted: 04/03/14, 3:35 PM PDT |

Home buyers outside of the U.S. really like the Southern California real estate market.

A lot, according to the California Association of Realtors “2013 International Clients Survey.”

And they are especially high on Southern California, according to the association.

Of the homes purchased by international buyers last year in California, 35 percent were in L.A. County, 22 percent were in Orange County, 20 percent were in San Diego County and 14 percent were in Riverside County, the association said.

The international community is also a fan of our government and financial system, which I know some will find hard to believe.

Eight five percent of the buyers shopping for homes in the state last year said that they only considered purchasing a home in the U.S. because its stable government and financial system would guarantee their home investment.

Fifteen percent considered investing in other countries, including Canada, Germany, Mexico, China, Singapore, Sweden, and France.

Twenty percent of the buyers said they chose the U.S. for its desirable location and climate.

The survey also found that 69 percent of international buyers paid all cash for their properties, compared to 27 percent of traditional buyers who paid all cash and 32 percent who bought their home to live in.

The international set has an eye for style, too. Forty-four percent of the international home buyers purchased homes with designer kitchens, 26 percent purchased homes with a wine cellar, and 9 percent purchased homes with a sauna. Other home amenities that international buyers wanted include a private beach, putting green, heated floors and outdoor kitchens.

The survey was conducted via email to a random sample of Realtors across the state.

It did not ask for the total number of homes sold to international buyers last year.

A separate survey last week from the National Association of Realtors showed that vacation home sales rose strongly last year while investment purchases fell below the elevated levels seen in the previous two years.

Not a surprise, really, because it follows the trend in quarterly reports from market trackers like DataQuick.

The association’s “2014 Investment and Vacation Home Buyers Survey,” covering existing- and new-home transactions in 2013, shows vacation-home sales jumped 29.7 percent to an estimated 717,000 from 553,000 in 2012.

Meanwhile, investment-home sales fell 8.5 percent to an estimated 1.10 million in 2013 from 1.21 million in 2012.

 

Are you an agent thas has NOT taken advantage of their FREE Real-Buzz.com membership?

I recently discovered that many agents whose Association purchased free membership for their agents never signed up or enrolled for their membership?  Is that YOU?

Please click on the link below or read the list of organizations below to see if you are entitled to a FREE membership on Real-Buzz.com that you have not take advantage of!

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Daniel Bollinger
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(718)662-9493
DBollinger@Real-BuzzGlobal.com
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China Property Prices Continue To Rise

China property prices continue to rise

Blog written by Daniel Bollinger, Article written by Simon Rabinovitch

Housing prices increasing in China will boost US sales.  As the cost of buying a house in China grows, the value of a US home increases and increased buying activity should result.  This article discusses the developers viewpoints but realtors should look at this data from a buyers perspective.  As the cost of owning a home in China spirals upward the cost benefit of owning a home in the US increases.  Combine that with the property rights that the US offers as compared to China and the benefits are obvious.
Political instability and economic uncertainty are two factors in other countries that always benefits US sales.  Please read Emily Schmall’s article from last year dated July 2nd of 2013 entitled, “Brazil’s Turmoil Boosts Miami Real Estate”.(source: http://therealdeal.com/miami/blog/2013/07/02/brazils-turmoil-boosts-miamis-real-estate/).
Here is an article from Teke Wiggin dated January 12th, 2012 where he writes about, “The mass protests that have sent shock waves across Russia’s political landscape over the last month appear to have fueled Russian activity in the U.S. luxury home market.”(source: http://realestate.aol.com/blog/2012/01/12/russian-billionaires-invading-u-s-real-estate-market/).  That was 2012, this is 2014 and I’m sure you are aware of the events taking place in the Ukraine currently.  Watch for a spike in Russian buying activity in the United States.
You think anyone might look online for something nice to buy pronto?
What do you think is the best communication vehicle to reach residents in other countries interested in relocating to the US?
To learn more on how to capitalize on these trend lines:  http://www.real-buzz.com/about-us

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Daniel Bollinger
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1-800-448-2546 Office
(718)662-9493

Article Below

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February 24, 2014 3:48 am

China property prices continue to rise

By Simon Rabinovitch in Shanghai
Chinese property prices soared again at the start of 2014 but their year-long run of accelerating increases showed signs of losing steam amid the government’s moderate policy tightening.
New housing prices in China’s 70 biggest cities rose 9.6 per cent year on year in January, down from 9.9 per cent in December, according to a population-weighted average. Of the 70 cities monitored by the national bureau of statistics, six posted price declines from the previous month, up from just two in December.
China's house prices
The Chinese government has long used on-again, off-again restrictions to try to tame the country’s frothy property market. It has encouraged developers to boost supply of new homes as millions move from the countryside to cities, but also has attempted to stop speculators from buying up homes and driving up prices.
After clamping down on the property market for much of 2012, leading prices to edge down, the government held off from implementing new controls last year, and prices took off once more. Increases were especially steep in the country’s biggest, wealthiest cities, with prices up more than 20 per cent.
New home prices in Shanghai and Beijing rose 20.9 and 18.8 per cent in January from a year earlier, respectively, slowing a touch from their 21.9 and 20.6 per cent increases in December.
The government has gradually tightened monetary conditions since the middle of 2013, raising the cost of funding for banks and, in turn, nudging up mortgage costs for home buyers. Some analysts believe that an even bigger threat to the market is President Xi Jinping’s anti-corruption campaign, which is beginning to stem the flow of cash into high-end properties.
Developers across the country reported slow starts to the year in terms of transaction volumes in January and early February, potentially setting the stage for price discounts.
Concerns that the government could take more stringent measures to rein in price increases weighed on the shares of Chinese property developers on Monday.
The 21st Century Business Herald, a financial newspaper, reported that multiple banks had decided to halt issuing all loans to property developers. Other local media said the report was incorrect, noting that banks had long been restricting loans in smaller cities but continuing to provide financing to developers in bigger areas.

Shares in Vanke, the country’s biggest listed property developer, fell 6 per cent in morning trading on the Chinese stock market, with other developers’ shares also under heavy selli

Asia’s real estate investors will target non-traditional sectors and locations in 2014, says Colliers

Asia’s real estate investors will target non-traditional sectors and locations in 2014, says Colliers

Blog written by Daniel Bollinger, article submitted by Colliers

Colliers certainly knows what is going on in the realm of international property investing. In the research that I have done I have to agree with Collier’s when they write, “We think the world’s ‘gateway’ cities will see a quantum leap in real estate purchases by Chinese buyers in 2014.”

Read the rest of the article for the supporting arguments and the “push and pull” factors that are going to make the US real estate market explode this year.

Would you like to set yourself up to profit from this trend line? Then translate your listings into 18 different languages with SEO optimization in those languages to give yourself a GLOBAL PRESENCE on the web.

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Daniel Bollinger
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DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us
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Source: http://www.itbusinessnet.com/article/Asias-real-estate-investors-will-target-non-traditional-sectors-and-locations-in-2014-says-Colliers-3149707

Asia’s real estate investors will target non-traditional sectors and locations in 2014, says Colliers

March 27, 2014 —

HONG KONG, March 27, 2014 /PRNewswire/ — Asia’s real estate investors will spend more in a wider range of geographical locations and property sectors outside the region in 2014, according to a new report from Colliers International.

“Besides increasing global liquidity, the volume of outbound investments from Asia is being driven by both ‘pull’ and ‘push’ factors,” explains Piers Brunner, Chief Executive Officer, Asia at Colliers International.

“The main ‘pull’ factors are the higher yields available in the prime gateway cities of the US, Europe and Australia, the growth potential of property there, and the high level of transparency.

“The ‘push’ factors are the likelihood that the governments of Hong Kong and Singapore will keep existing local real estate cooling measures in place this year, and the relaxation of government policies concerning overseas real estate investments in Asian countries,” he adds.

“Chinese outbound property investments beyond Asia really took off in 2009, and they reached US$9 billion in 2013. We believe more Chinese developers will look overseas to support the needs of their local clientele,” says Terence Tang, Managing Director of Capital Markets and Investment Services, Asia at Colliers International. “We think the world’s ‘gateway’ cities will see a quantum leap in real estate purchases by Chinese buyers in 2014.”

Meanwhile, South Korea is another Asian country catching up in terms of growth. The country’s annual volume of outbound property investments increased by more than half in 2013.

The Colliers report describes the first two waves of outbound property purchases by Asia’s investors since 2000. The first wave targeted quality real estate in London and Sydney. In the next wave, investors are expected to expand their scope of interest to the fringe areas of gateway cities, such as London East and downtown markets in Manhattan, where investors will find prices more attractive than those in traditional core locations. Meanwhile, the gradual economic recovery and growing investment demand have begun to increase the popularity of commercial real estate.

The emerging trend will see outbound investors entering non-traditional sectors and committing to value-adding schemes, including conversion and development opportunities, in the secondary locations of gateway cities, says Colliers.

ABOUT COLLIERS INTERNATIONAL

Colliers International is a global leader in commercial real estate services, with more than 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most-recognized commercial real estate firm in the world.

SOURCE Colliers International

Copyright 2014 PR Newswire. All Rights Reserved

 

Chinese buy up overseas

 

Chinese buy up overseas

 

Blog written by Daniel Bollinger, Article written by Li Aixin

 

I try and post as many articles that I can about International Investors buying real estate in the USA. Right now Canadians are the largest group that are purchasing US real estate. Read this article and you will realize that you’re going to see this trend line change very soon. All the economic news is pointing towards China. Li states in this article, “There is mounting evidence showing that not only China’s super-rich but also its middle class are flooding into the overseas housing market.” The rich are always going to buy property in the Unites States as part of their portfolios. That is a standard that is not going to change. But the fact that the ‘middle class’ in China are purchasing a lot of housing in the states is a great statistic. China is experiencing inflation in their burgeoning economy. This is actually great news for the states. The price of homes in the US are actually CHEAP compared to what prices for real estate are in China. Combine that statistic with the fact that Chinese are not allowed to even own the properties they purchase in their country!!!

 

Why wouldn’t you want to set yourself and your company up to woo this new and wealthy clientele? Translate your listings into 18 languages and get SEO optimization in those languages today (especially simplified and traditional Chinese)! http://www.real-buzz.com/about-us

 

It’s not only residential as the article states, “… Chinese outbound investment into commercial real estate increased 124 percent …”

 

And do you like closing cash deals? “Nearly 69 percent of Chinese deals were made in cash”

 

Given the current economic and political climate this trend line is going to strengthen immensely going forward. If you want to prepare yourself to profit from this trend line now is the time.

 

If you want to be a top producer then start marketing your listings in 18 different languages with SEO optimization in those languages.

 

Learn more here: http://www.real-buzz.com/about-us

 
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Daniel Bollinger
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DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us

 
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Source: http://www.globaltimes.cn/content/851975.shtml#.Uzq8W1c_Yus

 

Chinese buy up overseas

 

Global Times | 2014-4-1 0:58:01
By Li Aixin

 

“Four million yuan [$644,000] for a house in Seattle buys just two toilets in downtown Beijing,” said Wen Jiajia, a character in the Chinese movie Finding Mr Right, indicating soaring property prices in China and the bargains to be had buying housing overseas.

There is mounting evidence showing that not only China’s super-rich but also its middle class are flooding into the overseas housing market.

According to a latest research by Jones Lang LaSalle (JLL), a real estate money management and services firm, shows that Chinese outbound investment into commercial real estate increased 124 percent to $7.6 billion in 2013. This compares to $3.3 billion in 2012 and $2.9 billion in 2011.

New York and London are the cities that attracted the most money from China into real estate. In 2013, Chinese investors spent $2.9 billion in New York, and $2.1 billion in London.

According to Alistair Meadows, director of JLL’s International Capital Group in Asia Pacific, the initial catalyst for this dramatic rise in outbound investment has been the introduction of the “Go Global” slogan by the Chinese government.

Flush with cash

The Chinese seem to be hard-wired to buy houses wherever they are. “In China, we are seeing increasing interest in buying new homes overseas,” according to Maureen Yeo, associate director of international project marketing at Knight Frank Beijing.

Yeo noted that the main type of buyer has changed from migration-oriented to investment-oriented.

Chinese people see buying overseas real estate as both investment opportunities and also second homes outside China, according to Affinity China, a travel consulting company. The properties they purchase as personal homes tend to be in the $1 million to $5 million range whereas as investment purchases range from $500,000 to $2 million.

Members of China’s emerging middle class have gradually become the major buyers of real estate.

“The median price of houses purchased by Chinese in Los Angeles is $425,000. The split between super rich and middle class is half-half. We see a growing number of the middle class buying more properties.” Chen Lili, a realtor from RE/MAX Omega Group in LA, told the Global Times.

“In 2013, the property in Los Angeles appreciated around 20 to 25 percent, in certain areas like Arcadia, the property appreciated 23 to 35 percent,” she added, noting that the main purposes of Chinese buying houses overseas are for their child’s education and as an investment.

“Nearly 69 percent of Chinese deals were made in cash,” Chen said, “Many of them were not aware that they could actually get a loan.” More importantly, it is more convenient to deal in cash, especially for those who don’t own a US Green Card and face a strict examination process at US banks.

“The domestic real estate industry has come into a bottleneck period. As the government has taken more restrictive measures, the profitability of investing domestic houses is not too optimistic,” Hui Jianqiang, research director at real estate information provider Beijing Zhongfangyanxie Technology Service Co, told the Global Times, noting that continually rising prices and tightening measures are combining to push more Chinese investors overseas.

Despite the pursuit of immigration and education, and the fact that Chinese are growing wealthier, both environmental pollution and the political environment are also reasons for outbound Chinese investment, Hui added.

“I don’t think I could afford the most expensive house while breathing the most toxic air,” Hao Zhou, a postgraduate student at Sydney University, told Global Times, as he is now planning to emigrate to Australia.

Increasing developers

“A number of Chinese property developers are out shopping for commercial real estate. Most of their houses are prepared for Chinese people, as the demand among overseas Chinese is picking up,” Liu Yuan, a senior research manager at the Shanghai-based Centaline Property Research Center, told the Global Times.

Except for certain global development programs, companies looking to buy properties overseas are focused on the areas with high concentration of Chinese, catering to the demand of Chinese residents seeking overseas homes.

Greenland Holding Group, a State-owned real estate enterprise in China, announced in February to invest $3.26 billion to develop hotels and homes in southern Malaysia. This is not the only investment Greenland made this year. It has unveiled details of its $1 billion Metropolis Los Angeles project in February and a $2 billion investment plan in London in January.

Other Chinese developers are simultaneously getting their feet wet abroad. China Vanke is teaming with real estate investor Aby Rosen to build a luxury midtown Manhattan condominium tower for its first project in New York. Even Chinese insurance firm Ping An has started its investment program in real estate markets. It bought the Lloyds of London building in the UK last year for $387 million.

According to Forbes, Chinese real estate investors are likely to dish out an estimated 1.1 trillion yuan, or $178 billion, buying up properties abroad in 2014 as residential or commercial properties.

After over 30 years accumulation of wealth and the drive of the government’s “Go Global” slogan, Chinese middle class, super rich and investment companies see better investment opportunity abroad and are targeting in the world real estate market.

 

The Chinese Buyers’ Club: Economic Shifts and Cultural Idiosyncrasies Guide a Fast-Growing Segment of the Condo Market

The Chinese Buyers’ Club: Economic Shifts and Cultural Idiosyncrasies Guide a Fast-Growing Segment of the Condo Market

Blog written by Daniel Bollinger, Article written by Chris Pomorski

Here is a great article about Chinese buying condo’s and homes. I have had the pleasure of meeting Shawn Elliott and Li Chen and I can say they are smart and savvy. They have embraced this trend line and I know they are going to be extremely successful as this trend only increases throughout the year and beyond.

If you want to be a top producer in your firm then start marketing your listings in 18 different languages with SEO optimization in those languages. Learn more here: http://www.real-buzz.com/about-us

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Daniel Bollinger
Social Media Coordinator &
Sales and Business Development Manager
Real-Buzz.com (Powered by Immobel)
1-800-448-2546 Office
(718)662-9493
DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us
Article Below
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Source: http://observer.com/2014/03/the-chinese-buyers-club-economic-shifts-and-cultural-idiosyncrasies-guide-a-fast-growing-segment-of-the-condo-market/
The Chinese Buyers’ Club: Economic Shifts and Cultural Idiosyncrasies Guide a Fast-Growing Segment of the Condo Market
By Chris Pomorski | 3/27/14 2:52pm

Brokers Juan and Li Chen, from left, have capitalized on booming Chinese demand for New York real estate. (Sasha Maslov)

It is not unheard of in certain towns on Long Island’s rarified Gold Coast—in Brookville and Manhasset, for example—for postal agents to allow the removal of the number four from property records, doorways and mailboxes. Where the swap will cause no undue confusion, the fours are often replaced with eights. The postal agents do this by request and the homes involved tend to be palatial. Once quite unthinkable, such requests have lately grown more common.
The uptick arises from an influx of Chinese residents whose estimable wealth, education and cosmopolitan sensibilities have done nothing to mitigate their belief that the number eight connotes prosperity and that four suggests death.
Prosperity, naturally, is to be wooed—death avoided. And New York real estate agents worth their salt have learned to act accordingly.
In 2011, in Nassau County five homes were sold for more than $10 million. Four were sold to buyers from China. Of those, Shawn Elliot sold three.
The proprietor of Shawn Elliott Luxury Homes, a real estate brokerage specializing in Long Island mansions, Mr. Elliott estimates that today more than 50 percent of houses traded on the Gold Coast that cost $5 million or more go to Chinese buyers. To service the demand, his firm now maintains dedicated phone lines manned by Mandarin-speaking representatives—a practice not uncommon among New York City agencies.
Fair Housing laws make precise figures difficult to calculate—or at least for residential brokers to acknowledge. But buyers from mainland China and Hong Kong account for about 25 percent of the city’s international market, or 8 percent overall. As a function of total residential sales in 2013, that puts their contribution at nearly $3 billion.
Numbers like those will elicit near-childish giddiness from brokers, and there is reason to believe that the well is far from dry. According to a January analysis by the Hurun Report, a group devoted to tracking China’s wealthy, 64 percent of mainland Chinese with personal wealth of $1.6 million or more had emigrated or planned to do so, with the U.S. being their favored destination.
Tallies from U.S. Citizenship and Immigration Services, an agency within the Department of Homeland Security, further bear that out: Last year, the office received a record number of applications for the EB-5 visa program, which allows foreigners to live here provided they sink a minimum of $500,000 into job-creating endeavors. (Mr. Elliott has facilitated EB-5-eligible Chinese investments in franchises like Dunkin Donuts, and in factories and hotel construction, among other things.) In 2013, Chinese nationals received 6,895 EB-5 visas, comfortably outdistancing any other group.
In some neighborhoods, postmasters have become used to the sight of Mr. Elliott, a middle-aged, rosy-cheeked man whose wide-legged suits and roundish physique make a pleasant, slightly nostalgic advertisement for suburban affluence.
He has been having house numbers changed, he told me, for about three years.
“I think I was the first,” he speculated. “So the reaction was kind of like: ‘Seriously?’ Now when I walk in, they know exactly why I’m there.”
Long Island homes listed by Shawn Elliott. (Shawn Elliott Luxury Homes)
That the last three decades have seen vast wealth produced in China is not news. Freed (relatively-speaking) from harsh economic restraints and spurred by massive infrastructure initiatives, manufacturers, entrepreneurs, real estate developers and financiers led growth that had, by the end of 2012, helped to create a total of more than 700,000 residents with investable assets of at least $1.6 million, more than twice the extant number in 2008.
Why, then, are so many newly minted millionaires eager to flee the land that lined their pockets at such depth and speed?
For one, the conditions that produced wild growth have lately run up against moderating—in some cases unsettling—correctives. And there is also the fact that the preferences of hungry strivers often differ from those of established executives perched atop healthy nest eggs.
According to a report last August issued jointly by Bain & Company and China Merchants Bank, between 2011 and 2013, wealth preservation and children’s education replaced wealth creation and quality of life as primary concerns among China’s moneyed classes. And though the Chinese economy continues to gain—at a rate of 7.7 percent last year—it is doing so significantly slower that during peak boom years, when it saw double-digit percentage growth.
Chinese banks have always offered very low interest rates on savings accounts, which have at times failed to outpace inflation.
“Simply parking money in an account is not very attractive,” Kenneth Pomeranz said recently. “And there is a feeling that the domestic real estate market is overheated and that there will be a correction.”
A massive construction boom attended overall economic expansion and vacancies are rampant, while condo prices in Beijing can outdo those in Manhattan. “We’re talking about a country with a very high savings rate,” continued Mr. Pomeranz, a professor of Chinese history at the University of Chicago and author of The Great Divergence: China, Europe, and the Making of the Modern World Economy. “For many years, people have been plowing back a lot of profits into their businesses. Now, if they think the economy is going to be leveling off, or at least growing more slowly, they may be deciding they want to put money somewhere else.”
New York real estate, of course, tends to be a pretty solid bet.
The threat of indictment or fine for corruption has generated an additional (and rather persuasive) incentive for Chinese emigration. “You have a situation where a lot of money was made, and an awful lot of it was made by private companies with close ties to government,” Mr. Pomeranz said. Because private citizens cannot own land, real estate developers, for example, require long-term land leases; Chinese manufacturing contracts often rely on government enterprises and public projects.
High-profile prosecutions last year of figures like Liu Zhijun, the former minister of railways, and of one-time Chongqing party chief Bo Xilai, meanwhile emphasized invigorated anti-corruption efforts. Mr. Liu received a suspended death sentence for taking some 64.6 million yuan—$10.5 million—in bribes. Mr. Bo, too—whose wife was convicted of murdering English businessman Neil Heywood—was found guilty of receiving bribes worth millions of dollars, garnering a life term.
Many lesser offenders—and even those who haven’t done anything wrong—also have cause for concern. “Lots and lots of people have gotten rich that have ties to the state bureaucracy in one way or another,” Mr. Pomeranz told me. Some fear the loss of ill-gotten gains, while others may simply be nervous about the questionable dealings of business partners. “Or they may be in a gray area. Rules in some cases were vague. Or rules were sufficiently unrealistic that everyone was violating them.”
Anti-corruption campaigns also represent opportunities for score-settling, and frequently create arenas in which blame caroms off some to settle unfairly on others: “The fact that someone is swept up in an anti-corruption campaign does not necessarily mean that that someone has does something unsavory.”
The Touraine condo building, at 132 East 65th Street, reflects the tastes of many Chinese buyers.
Juan and Li Chen are 28-year-old twin sisters and brokers at the Siderow Residential Group, a midsize agency based near Grand Central Station. Li began working as a broker last May, aiming at first to complete perhaps one rental deal per month. But using Weibo and Siba, which equate roughly with Twitter and Tumblr, Li swiftly developed a few hundred Chinese clients, many of them buyers. And Juan got her license and joined Siderow in August to help with the work load.
Born in 1985 outside Chengdu, a city of some 14 million in the Sichuan province, Li and Juan arrived in the United States in 2007 with an educational exchange program. They came of age during a period in which only-children predominated—the one-child policy was only recently loosened—and they consider that being constantly in each other’s company gave them a social advantage.
“Many Chinese people are very shy,” Juan told me. “They are not sure who are the right people to know. I love to talk to people.”
The sisters’ paternal grandmother was a domineering woman who took exception to her son’s failure to produce a male heir. Soon after Li and Juan were born, their father ceased working, grew depressed and began drinking heavily. He left the family when they were 7 and died two years later.
With their mother forced to work at low-paying jobs—she would eventually open a restaurant where Li and Juan washed dishes—and no funds available for child care, the sisters spent a lot of time playing on construction sites. The development boom was on, and in a pinch, the architects and builders that make up one branch of the family became babysitters.
The sisters watched as old structures were torn down and replaced with modern monuments of steel, marble and glass—a pattern that repeated itself across the country. It was to such buildings that the newly wealthy moved, raising children among doormen and luxury hotel-style amenities—the same amenities Li and Juan’s clients now seek in New York apartments.
“They are used to very good service,” Li said of her buyers, many of whom are still in college or graduate school and have access to family money. “They don’t want old. They want a gym, huge windows. They will not walk up even to the second floor. There must be an elevator.”
Quaint Village apartments with exposed brick get little traction with these buyers, whose average budgets hover around $1.5 million. “They don’t like a small space. They don’t like a lack of sunlight.” Ditto for Soho lofts: “They say, ‘I feel like I am living in an old factory!’” They have a point.
Last March, Time reported that a woman from China had purchased a $6.5 million apartment for her 2-year-old daughter in the famously grand One57 condominium building, speculating that the little girl would one day attend Columbia, NYU or Harvard. If not exactly typical, the deal was nonetheless emblematic of an increasing tendency among wealthy Chinese to purchase New York homes for young children.
“Chinese education is heavily oriented towards standardized test taking,” Ken Pomeranz said. “The competition is very intense, and people are starting to wonder if that’s what they want for their kid.”
Parents often arrive in New York versed in the hierarchies of local school systems. Shawn Elliott has arranged tours and introductions to principles and guidance counselors, providing translators as needed.
“The hand-holding that my firm does—the time that we spend to teach the Chinese consumer about the education system, hospitals and health care, insurance, how to get tickets to a show, et cetera—is enormous,” Mr. Elliott said. Trips to Rolls-Royce and Mercedes dealers have been arranged and obscure models procured. Inquiries about private jets are not uncommon.
More so even than with Western clients, Li Chen told me, “With Chinese people, you need to have one-to-one networks.” Her first sale—of a house in Yonkers to a Mrs. Wong—came after spending many hours with the buyer and her husband. She fetched them from the airport and guided them to their hotel, ferried them to restaurants and explained how and when to tip, hail taxis and acquire directions.
Mrs. Wong has since enlisted Siderow to aid in her search for a pair of commercial properties, and Li has visited her—and many others—at home in China, stoking a referral network that relies on face-to-face relationships.
In January, at the request of her blog readers, Li visited the cities of Beijing, Wuhan and her native Chengdu, where the runway smog was so thick that upon landing, she couldn’t believe the plane had descended from the clouds. (Deplorable air and water quality are oft-cited motivations for emigration.)
On some occasions, she entered university and office buildings expecting to meet for informal conversations with one or two people and was greeted by dozens of clients, prospective buyers, real estate students, leasing agents and commercial developers. Word had spread, and they were expecting a presentation on the New York market.
On a recent afternoon, I met Li and Juan in Manhattan for tours of several apartments. Before becoming a broker, Li regarded feng shui as a brand of superstition. She gave it little credence. Her clientele, however, largely feels otherwise—some insist on bringing consultants to apartment visits—and she has come to accept it as a comforting influence.
The first unit we saw proved eminently eligible. A one-bedroom condominium asking $1.5 million with high-end kitchen appointments and 1.5 baths, the apartment had shiny hardwood floors and huge windows, with views to the south, east and west. For many Chinese buyers, southern exposures are non-negotiable, and compasses often emerge from pockets at showings.
The East River was visible from the living room, satisfying a feng shui preference for water views that to some extent explains concentrations of Chinese purchases near the eastern and western edges of Manhattan and in the Financial District.
To Li, the layout looked favorable, too. No support columns impeded movement or sight lines, and the rooms were regularly shaped—the floors untilted and without levels. Were a buyer interested enough to make a second visit, Li said, he might well bring a bowl, which he would turn on its side and place in the center of the unit to ensure an even grade. A rolling bowl could sink a deal.
In the lobby downstairs, a Chinese man in his late twenties waited to see the unit. Juan and Li speculated that he would like it, though for some status-conscious types, its 38th floor location might be too low. “I had one businessman who wanted to rent only a penthouse,” Li said. “He was on the 30th floor, but he said it’s not high enough. He said, ‘I don’t want people stepping on my head!’”
Another property, a tiny one-bedroom situated atop a Downtown hotel, was cramped but light-filled and looked onto the Brooklyn Bridge. Li drilled the concierge about neighbors’ air rights and concluded that at less than $1 million, it might make for a sound investment.
A third listing held no promise at all. A $1.1 million condo in the Financial District, it, too, had a gleaming kitchen and water views. But the unit was irregularly slanted, and ductwork had been built over with boxy protrusions that many Chinese buyers find off-putting.
“We say when there are beams or molding on the ceiling, especially if it’s over the bed, that it’s like a sword cuts your heart,” Li told me.
Another deal breaker: the building’s close proximity of the West Side Highway, whose noise and confrontational aspect promise a flow of less-than-desirable energy.
Months ago, Li designed a Chinese version of her company’s name. Phonetically similar to “Siderow,” it employs a play on words that might mean “home makes you happy” or “willing to be happy.” Done in poetic, slightly antiquated language, the phrase implies a reverence for tradition while also suggesting progress.
“Sometimes, I feel like our life is really dramatic,” Juan said.
When the sisters arrived seven years ago from Chengdu, they were $15,000 in debt and had between them $100 in cash, which their mother had borrowed from friends. They have since married and bought apartments in Queens. With the proceeds from her real estate sales, Li aims to pay for a master’s degree in education from Columbia, where she has been admitted. Her own children won’t likely be washing dishes.
“If our mother had our opportunities,” Li said, “I think she would have a happier life. But we have been around wealthy people every since we came here. Not every rich child is happy. When children of rich Chinese talk about themselves, it’s very difficult for them not to mention what their parents did for them.” For some, the very fact of privilege makes it hard to understand who they are.
Sometimes, Juan said, “material things have to come before your dream. That’s a hard lesson to learn.”
Read more at http://observer.com/2014/03/the-chinese-buyers-club-economic-shifts-and-cultural-idiosyncrasies-guide-a-fast-growing-segment-of-the-condo-market/#ixzz2xC3RLNRV
Follow us: @newyorkobserver on Twitter | newyorkobserver on Facebook

 

Hooks and Hurdles for Chinese Investors in the U.S.

Hooks and Hurdles for Chinese Investors in the U.S.
Blog written by Daniel Bollinger, Article written by Hortense Leon
Once again it seems every week there is more and more positive information coming out of China in relation to US real estate. The numbers are staggering and I will go on record as stating the stats are only going to increase. If you read my blogs (https://realbuzzglobal.wordpress.com) and you still don’t feel the need to translate your listings into at least the four BRIC nation languages … all I can say is good luck to you.
Here are some highlights from this article:
“It’s no secret that Chinese developers and investors are turning to the U.S. market. Alongside Canada, China has been the fastest-growing source of international clients”
“There are many reasons for the influx of Chinese investors into the U.S. market. According to Malcolm Riddell, a U.S.-based investment banker and lawyer who lived in China for many years, “The Chinese have gotten rich, but China is an unpleasant place to live today in many ways.””
“But Chinese investors still prefer to buy in New York, because they see the U.S. market as more transparent and mature than the Chinese market, he says”
“Though the program (EB-5) has been around since the 1990s, transactions using the program have grown exponentially in the last five to seven years … Chinese investors in the EB-5 investor visa program are using roughly 80 percent of the available visas in this category per year”
Get your listings translated into 18 different languages with SEO optimization for each language on Real-Buzz.com.
To learn more on how to capitalize on these trend lines: http://www.real-buzz.com/about-us

To read even more news on trends affecting your business please like us on Facebook: https://www.facebook.com/RealBuzzNetwork

Daniel Bollinger
Social Media Coordinator &
Sales and Business Development Manager
Real-Buzz.com (Powered by Immobel)
1-800-448-2546 Office
(718)662-9493
DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us
Article Below
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Source: http://realtormag.realtor.org/commercial/feature/article/2014/02/hooks-and-hurdles-for-chinese-investors-in-us?sf2330924=1#.UzGflCuQwnM.twitter

Hooks and Hurdles for Chinese Investors in the U.S.
Commercial real estate deals are enticing an increasingly global group of real estate investors in China. Learn why they’re looking to the United States and what kind of roadblocks they face.
February 2014 | By Hortense Leon
This past November, the first Chinese company to be listed on the New York Stock Exchange, Xinyuan Real Estate Co. Ltd., began construction on a 400,000-square-foot luxury condominium development in Williamsburg, Brooklyn. Although Xinyuan is one of the largest Chinese companies operating in the United States, it is just one of many Chinese real estate entities drawn to the American commercial real estate market in recent years.
There are many reasons for the influx of Chinese investors into the U.S. market. According to Malcolm Riddell, a U.S.-based investment banker and lawyer who lived in China for many years, “The Chinese have gotten rich, but China is an unpleasant place to live today in many ways.”
Riddell says that pollution, food safety, traffic, and other issues have caused Chinese people to look outside their own country for opportunities, but that the situation is especially acute for real estate investors and developers. Chinese commercial real estate markets are generally considered to be in a bubble. To try to deflate that bubble, Riddell says the Chinese government has recently made real estate development much harder. One of the ways Riddell says they’re doing that is by squeezing financing sources, making real estate development less profitable than it was a few years ago.
Recently, China’s largest real estate growth has been seen in multifamily developments in the outskirts of big cities like Shanghai and Beijing, according to Ted Dang, principal at the Commonwealth Cos. in Oakland, Calif.
“A lot of these units are vacant, even though all of them are sold to middle or upper-middle class people who buy them not for their income but their appreciation,” he says. But, he notes that because of the rampant speculation, the government has cracked down in some cities and made it illegal for a family to own more than two properties.
In other Chinese cities, they’re limited to only one residential unit per family, says John Liang, executive vice president for investment strategies and international operations in the New York office of Xinyuan Real Estate Co. Furthermore, he says non-real estate investment options are also very limited. According to Xinyuan’s research, which examined 10-year returns in 2013, the Chinese domestic stock market performance was dead last in the world in terms of rates of return.
“China’s stock market is under-regulated and corporate governance is very weak,” Liang says. As for putting money into Chinese banks, says Liang, that is a losing proposition, because a bank deposit is tantamount to “a deposit account for the government,” which could take that money at any time.
Teaming Up with U.S. Partners
It’s no secret that Chinese developers and investors are turning to the U.S. market. Alongside Canada, China has been the fastest-growing source of international clients for members of the National Association of REALTORS®, according to the group’s latest Profile of International Buying Activity.
When Chinese nationals invest in commercial real estate here, they most often team up with American counterparts because the latter have the land, the expertise, or both, says Eric Anton, managing partner at Brookfield Financial in New York. Chinese investors contribute capital to their American partners in order to learn the American development business, he says.
“Because Chinese investors want to get into the [American] market,” says Anton, “they will suffer lower returns.” At the same time, Americans seek out foreign investors, including the Chinese, because they provide them with “cheap money,” he says.
In Manhattan, commercial real estate returns are roughly 3.5 percent a year, compared to 15 percent to 20 percent in Chinese cities, says Shang Dai, a Chinese real estate attorney based in New York. But Chinese investors still prefer to buy in New York, because they see the U.S. market as more transparent and mature than the Chinese market, he says.
Unlike many American investors, Dang says, “a lot of Chinese real estate investors aren’t that concerned with cap rates, tax shelters, or cash flow.” Just as they do in their home country, they concentrate on the potential for appreciation, which makes them more gamblers than investors, he says.
Relationships between Chinese investors and developers and their American partners are not without tension, says Darlene Chiu Bryant, executive director of ChinaSF in San Francisco, an organization that encourages business investment in Northern California by Chinese investors and works closely with the San Francisco Association of REALTORS®.
“In China, the system doesn’t protect [junior] partners the way it does in the United States, where everything is spelled out in black and white,” says Chiu Bryant. Because of these legal protections, Chinese developers often want to have complete control of the project, she says.
Chinese developers are also used to significantly shorter timelines in their own country, says Chiu Bryant. A Chinese developer may be able to finish a master development in China in five or ten years, whereas an American developer might do the same project in San Francisco in roughly 30 years, she says.
Business Differences
Also, it’s important to note that the Chinese system of doing business is very different from the American one, says Riddell. “You count more on relationships there than in the United States. Most commercial transactions in China are off-market; there are no brokers involved. If you trust somebody, you buy the building without a middleman,” he says.
While differences between the way business is done here and how investment is handled in China is an important consideration for all parties looking to make inter-country connections in commercial real estate, there are more concrete considerations.
“The difference between cultures is not the only impediment to American and Chinese partnerships. As much as Chinese investors hanker after American and other western countries’ real estate, there is a hitch,” says Riddell. “According to Chinese law, Chinese nationals are not allowed to take more than $50,000 out of China each year.”
Chinese investors who want to take more money out of the country can always apply for approvals from the government, but they don’t always get them, says Riddell. So they have to find other—sometimes illegal—ways to get the money out, he says. Some Chinese nationals even fill suitcases with cash in order to ferry the money out of the country, but it’s very risky.
“There is lots of [Chinese] money sloshing around out there that is not supposed to be, maybe coming from the corrupt official or the businessman who’s mis-invoiced his exports for 20 years and now wants to invest the money that is outside China,” says Riddell.
But for those who prefer to legally take money out of China, there is good news: “The general trend [within the Chinese government] is to relax the rules governing foreign exchange outflow,” says Xiaolin Zhou, a New York–based partner with Jun He, a Chinese law firm. Businesses and individuals still need approval to take more than $50,000 per year out of the country, but the approval processes are getting easier and are taking less time, he says.
Stephen Cowan, managing partner in the San Francisco office of global law firm DLA Piper, agrees. He represents Chinese investors who are executing million- and billion-dollar deals in the United States that require approvals for taking out sums over $50,000 at the provincial and national levels in China.
“While these approvals sometimes take months, I haven’t seen any of them being declined in the last six months,” says Cowan, which leads him to believe that they are easier to get today than a couple of years ago.
For those Chinese investors who are able to successfully transfer large sums of money out of the country, the U.S. government will often help them put their money to work. The EB-5 investor visa program enables foreign investors to obtain green cards by investing in American businesses and creating jobs. Though the program has been around since the 1990s, transactions using the program have grown exponentially in the last five to seven years, according to Ankur Gupta, real estate partner with the corporate advisory group at McDermott, Will and Emery LLP in Chicago. He notes that in the hotel sector specifically, “You can create more direct, permanent jobs than you can with other sectors, such as multifamily, industrial, or office.”
Gupta’s colleague at McDermott, Will & Emery, immigration partner Joan-Elisse Carpentier says this increase in EB-5 use has been driven largely by China. “Chinese investors in the EB-5 investor visa program are using roughly 80 percent of the available visas in this category per year,” she says.

Tom’s Tuesday Tips – Real Estate Marketing

Tom’s Tuesday Tips – Real Estate Marketing

Blog Written by Daniel Bollinger, Article submitted by Wendell Tumlis
Here is a great article about real estate marketing. Some quotes from this article that are directly applicable to Real-Buzz.com products and services are:
“To attract many buyers an agent needs to market the property to a broad audience.” And … “Marketing to broaden your customer base is essential to be successful.”
Want a ‘broad audience’? Would you like a global presence on the web where your listings can be viewed in 18 different languages with SEO optimization in those languages? Would you consider that broad?
Tom also points out, “Social media for real estate is like gold miners having free access to a vein of gold and being given all the tools to mine it.”
Our Facebook apps deliver just what Tom is talking about. All successful business people know that Tom’s NOT talking turkey here. It’s the truth.
To learn more on how to capitalize on these trend lines: http://www.real-buzz.com/about-us
To read even more news on trends affecting your business please like us on Facebook: https://www.facebook.com/RealBuzzNetwork
Daniel Bollinger
Social Media Coordinator &
Sales and Business Development Manager
Real-Buzz.com (Powered by Immobel)
1-800-448-2546 Office
(718)662-9493
DBollinger@Real-BuzzGlobal.com
http://www.real-buzz.com/about-us

Article Below
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Source: http://tumlis.com/blog/toms-tuesday-tips-real-estate-marketing/
Tom’s Tuesday Tips – Real Estate Marketing
Posted on March 25, 2014 by Wendell Tumlis Inc
Every Tuesday we sit down with Tom Horvath, Tumlis’ CEO and founder, to get some things straight and listen to the pulse of all things real estate. Today we talk specifically about real estate marketing for agents and how and why it’s important to real estate agents and home buyers and sellers alike.
Tumlis: Good morning, Tom. So is modern marketing important to real estate? If so, why?
Tom: Yes. For a number of reasons a clear, specific real estate marketing plan is very important to agents and brokers. But the primary one, like any marketing initiative, is that you want to let your potential customer base know you are in business and good at it.
Potential customers see agents who market themselves successfully and subliminally think that they will market their listings successfully as well. For agents who subscribe to working a geographical area in their community, marketing helps build recognition and brand awareness; an important part of relationship building (trust and credibility) with their prospective clients. Also, by successfully marketing themselves, an agent will end up talking with more people, both agents and prospective customers. As a result, they will have a much better pulse on the marketplace than someone who is just talking with a few people.
With respect to marketing listings, there is not a single more important thing an agent can do to serve their seller customer. An agent’s job (under normal conditions), when selling real estate, is to get their customer the highest price with the best terms in the shortest time possible. To do this the property needs to have demand, to create demand there needs to be buyers – preferably many buyers. To attract many buyers an agent needs to market the property to a broad audience. Simple description is that you want as many possible buyers as you can find at the top of your sales funnel, you qualify them on the way down, solicit offers and create competition to get the best price and terms and then close…at the bottom of the sales funnel.
Marketing to broaden your customer base is essential to be successful.
Tumlis: So what is the best real estate specific marketing story you’ve ever heard? Why was it so successful?
Tom: Hmmmmm…it would have to be a development project I worked on from 1996 to 2000. The developer found an ‘unserviced’ area in a market where there was great demand. They bought the land and put together a brilliant marketing program to presell the project. The marketing success came from creatively crafted marketing tools (brochures, ads, onsite features) and followed with brilliant direct mail campaign (this is before the Internet was king). Lastly, what they sold was lifestyle and they had a great staff to help customers understand the lifestyle that was for sale. They tapped into a vein of buyers and ended up adding another phase and selling the project out in 4 years when they originally projected it would take 7. They also ended up getting prices 4x what they originally planned…it was wildly successful.
Tumlis: What about social media marketing and real estate then? What do you think is the best social media marketing channel for real estate?
Tom: Social media for real estate is like gold miners having free access to a vein of gold and being given all the tools to mine it. Every agent should set up a ‘business’ social media page, separate from their personal page. They should invite friends, past and present customers and all their prospects to join their page. Why? First of all its free marketing. Second, your friends will network for you, third your past and present customers and prospects are familiar with the market and thus they are the single most qualified group of prospective buyers or referral source.
If you paid for adwords on Google to get the same quality number of respondents to an ad and if you had the normal number of social media contacts and if you posted the ad once a week it would cost you somewhere between $6,000 and $10,000 month to reach the kind of quality audience you can reach with social media for free. Lastly, if you want to be competitive get in the game…if your competitor goes into a listing presentation and shows what they are doing successfully with social media and you don’t, guess who probably wins the listing.
Tumlis: What about relationship marketing? What are best practices for that and agents?
Tom: Relationship marketing is how you develop your brand through social outlets. I have talked here before that I think great agent needs to be actively involved in their community. They need to participate in a variety of community activities, invite people over to dinner regularly, and then maintain those relationships in part through social media…which can greatly magnify a persons ability to manage relationships. Social media is great for relationship marketing.
Tumlis: Same with email marketing?
Tom: Yes. Same with email marketing, it’s just to a highly targeted audience. And subjects are key to that. Be compelling and ad value so your current and future clients will want to open, read, and then act on your message.
Tumlis: Thanks. Last question. If Tumlis were a food, what would it be?
Tom: Heck. We both know that there’s a lot of great food out there in the world. Especially here in San Francisco. However, none of it compares to how good Tumlis is.

 

Luxury Sales Continue to Bounce Back, Brokers Say

Luxury Sales Continue to Bounce Back, Brokers Say

Blog written by Daniel Bollinger, article written by Alyssa Abkowitz

Two statistics that I would like to point out in this article:

(1) “He adds that there were 697 home sales over $5 million in California in 2012, an all-time high, many of which were all-cash deals.”

(2) “Cash buyers, low mortgage rates and rising consumer confidence are among the biggest drivers pushing luxury housing in the U.S.”

The one thing this article fails to mention is where these buyers are coming from.  You will find in the other articles/blogs that I post that many of these buyers are INTERNATIONAL.  Most all-cash buys are usually by international buyers/investors.  To engage these buyers I would recommend using Real-Buzz.com to publish your listings in 18 different languages with SEO optimization in all 18 of these languages;  http://www.real-buzz.com/about-us

To learn more on how to capitalize on these trend lines:  http://www.real-buzz.com/about-us

To read even more news on trends affecting your business please like us on Facebook:  https://www.facebook.com/RealBuzzNetwork

Daniel Bollinger
Social Media Coordinator & Sales and Business Development Manager
Real-Buzz.com (Powered by Immobel)
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(718)662-9493
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source:  http://blogs.wsj.com/developments/2013/06/06/luxury-sales-continue-to-bounce-back-brokers-say/

Luxury Sales Continue to Bounce Back, Brokers Say

By Alyssa Abkowitz  – June 6th, 2013

ATLANTA — Cash buyers, low mortgage rates and rising consumer confidence are among the biggest drivers pushing luxury housing in the U.S., according to luxury real-estate agents at the annual conference of the National Association of Real Estate Editors.

The luxury markets, which vary from a low-end in Atlanta of $750,000 to a minimum in Los Angeles of $3 million, are rebounding as buyers bounce back from the housing crisis. International buyers are fueling some purchases, with up to 20% of buyers in L.A. being from overseas, says Kofi Nartey, an agent at The Agency in L.A. Many of them are paying full cash, speeding up closings and eliminating the need for appraisals. He adds that there were 697 home sales over $5 million in California in 2012, an all-time high, many of which were all-cash deals.

In other markets, the low interest rates are spurring sales. In Cape Cod, for example, buyers who traditionally paid cash are lining up for mortgages with 2.25% interest rates and 10-year terms, says Jack Cotton, an agent at Sotheby’s International Realty. In Atlanta, 80% of luxury buyers are financing their purchases, according to David Boehmig, president of Atlanta Fine Homes, who says pent-up demand has helped his market recover.

Amenities buyers are looking for include outdoor kitchens with large patios, home spas and properties with a story — say, a famous former owner or a renowned architect. Mr. Nartey says certain ultra-high-end clients also are drawn to the “wow factor,” citing one current home being built that went through a maze of hurdles to get the city of L.A. to allow it to build a moat around the home.

As for pricing, the highest sale in Mr. Cotton’s market in the past couple of years has been $19.5 million, while the Atlanta market has seen a $10 million sale. In L.A., Candy Spelling’s manor, which sold for $85 million, still holds the record in recent years. On list prices, Mr. Nartey said it won’t be long before the U.S. sees a $200 million listing — the record now is believed to be $190 million for a property in Greenwich, Conn. — but that many of these ultra-high-end properties are priced that way merely as a suggestion, or to invite only a certain caliber of buyers to the table. Most ultra-high-priced homes end up selling for 50% to 60% of the original list price, he added.

Agents are also seeing an increase in pocket listings, or listings that aren’t publicly put into the multiple-listing service, both as a way to keep a seller’s name confidential and to up the exclusivity factor.

Pocket listings are viewed differently depending on the market. Some agents don’t mind them, but other agents say they limit the exposure of the property, making it harder to sell.