International 101 - How to Attract Foreign Clients & Meet Your Objectives (Peggie Pentecost)
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YOUR INTERNATIONAL “CALL TO ACTION” How to define and reach your TARGET MARKET and serve the International Client in Residential Real Estate 1
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This is a presentation on How to Attract Foreign Clients & Meet Your Objectives by Peggie Pentecost at HAR's International 101 Day.
Transcript of International 101 - How to Attract Foreign Clients & Meet Your Objectives (Peggie Pentecost)
YOUR INTERNATIONAL
“CALL TO ACTION”How to define and reach your
TARGET MARKET
and serve the International Client in Residential Real Estate
1
WHERE TO BEGIN?
O Now that you have decided to work in the
International Market place, you will need a
PLAN OF ACTION!
2
CREATE A BUSINESS PLAN!
O Start with your Description of what you will
do and where!
O Work with Buyers? Sellers?
O What Countries will you concentrate on?
O What Resources do you have that you will
use?
O How will you bring added value to your
Clients?
3
DEFINE YOUR MARKETO Associations
O Do you have an affiliation with an association or
organization where you might find potential clients?
O Client Referrals
O Have you done business in the past with clients from
your concentration country?
O Relationship Building
O Do you know someone that can be a source for
meeting your potential clients?
O Personal Resources
O Do you speak the native language of your
concentration country? 4
MARKET CHARACTERISTICS
O WHAT IS THE OUTLOOK FOR YOUR INTENDED CONCENTRATION COUNTRY?
O What are your Clients looking for now and in the future?
O What distinguishing characteristics are found in your country of concentration?
O What are the Demographics of your country?
O What are your Clients critical needs?
O Is your target country a seasonal destination?
O What critical issues exist that affect your target country?
5
MARKET SIZE
O What is the current market activity for your target country?
O What are the future indicators saying about growth?
O What major events or changes will create opportunity or pose a possible downturn?
O What is the stability of your target country?
O What resources can you use for Data & Information?O Magazines, government publications & websites,
SBDC, Chambers of Commerce, Associations, Organizations, etc.
6
MARKET SIZEOWhat is the cost of living?
OWhat amenities are found there?
OWhat are the business development opportunities?
OWhat are the personal tax benefits or pitfalls?
7
MARKET SHARE• How will YOU gain your share of the market?
• What are your projections for growing your business?
MARKET SHARE REALIZED
OHow much do you want to make in your first year, fifth year, tenth year?
OWhat is the current number of sales in your country of concentration?
OWhat are the projections for growth during those years?
OHow do you plan to continually increase your market share in the future?
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MARKET SHARE DEFINED
Year 1
$500M Annual Sales, 2% Share at 2%
commission = $100,000 annual income
Year 5$750M Annual Sales, 3% Share at 2%
commission = $450,000 annual income
PROJECT YOUR MARKET SHARE!
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MARKET ADVANTAGEOWho is your COMPETITION and how
will YOU make yourself STAND OUT!O Travel to your proposed country of
concentration and get to know the local who’s who in Real Estate & Development
O Become an EXPERT in your Market!
O Be the GO TO Information Source for Clients!
O Build relationships with referral partners
O Join associations & organizations where you are likely to meet your future clients!
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MARKET ADVANTAGE
O Follow up with the people you meet and remember to TOUCH point them regularly!
O Find out what’s important to your CLIENTS and use that information to your advantage!
O Stay informed about Current Events that affect your Clients and your concentration country.
O Know the culture and practices of the your concentration country!
O Blog, write Articles or a Newsletter and send to your client base!
11
MARKET ADVANTAGE
OUnderstand the Real Estate Industry in
your concentration country and how it
could affect each client.
OBe aware of Regulations and Tax
Ramifications
OKeep up with Local Government and
Industry Projections and how they
affect your market.
12
IMPLEMENTATION
OFind a Mentor
OBuild a Team of Reliable Resources here and in your concentration country
OKeep the course and avoid distraction
OLearn the Language or get a good translator!
OBe true to your DEFINED MARKET and concentrate on serving them!
STICK TO THE PLAN!!!!!!!!!!
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Peggie Pentecost832-429-7887
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REALTOR ASSOCIATECircle of Excellence
PRESIDENT 2014, 2015
