Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Global Perspectives: Finding Global Clients

Global Perspectives: Finding Global Clients

Ratings: (0)|Views: 401|Likes:
Published by REALTORS®

Global clients can be found in every part of the U.S., including some surprising places. But for many agents who want to grow their global business, the biggest challenge is knowing how to find them. This issue of Global Perspectives helps you tackle that challenge by illustrating ways to pinpoint potential clients and cultivate relationships with them, using two specific examples—a case study of Colorado and a snapshot of working with Japanese clients.

Global clients can be found in every part of the U.S., including some surprising places. But for many agents who want to grow their global business, the biggest challenge is knowing how to find them. This issue of Global Perspectives helps you tackle that challenge by illustrating ways to pinpoint potential clients and cultivate relationships with them, using two specific examples—a case study of Colorado and a snapshot of working with Japanese clients.

More info:

Published by: REALTORS® on Dec 16, 2011
Copyright:Traditional Copyright: All rights reserved

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
See more
See less

09/17/2013

 
to local, international & lifestyle real estate
June 2011
4
STUDYING YOUR MARKET
Finding Global Clients
Global clients can be ound in every part o the U.S., including some surprising places. But or manyagents who want to grow their global business, the biggest challenge is knowing how to fnd them.This issue o
Global Perspectives
helps you tackle that challenge by illustrating ways to pinpointpotential clients and cultivate relationships with them, using two specifc examples:First, you’ll fnd a case study that examines the state o
Colorado
, where immigrationhas played a major role in shaping Colorado’s global landscape.Then, to provide a better understanding o how to make inroads with a particularimmigrant community, you’ll fnd a snapshot o
working with Japanese clients
a prominent group in the Colorado market, especially in Denver, but also in manyother cities.I you happen to work in Colorado, or with Japanese immigrant communities, thisissue will be particularly helpul. But i you don’t, the examples inside stillprovide a valuable model or conducting similar research on your ownmarket. The process, and many o the resources cited, can be used togain important insights and contacts no matter where you live and work.Ultimately, this type o research is a key component or fnding successas a global agent. Opportunities to work with oreign buyers and sellers,whether living in the U.S. or investing rom abroad, are present in every market. Knowing how tofnd them and work with them is what provides ocus to your eorts—and improves your results.
GP
 
2
~
Global Perspectives
June 2011
4
STUDYING YOUR MARKET
Step 1.
Explore your market’s demographic profle
Begin by taking a look at who lives in your area. A goodstarting point is the research available through theNational Association o REALTORS
®
(NAR) atrealtor.org/research/research/reportsintl. Here you’ll fnd State-by-State International Business Reports, as well as otherreports based on U.S. Census data, breaking outColorado demographics by county.Digging into these reports, you’ll fnd that in 2000, 17percent o the residents o Denver County were oreign-born and that a second language was spoken in 27 percento the households. For a summary o NAR’s internationalresearch reports and their contents, see the August 2010issue o the
Global Perspectives
newsletter, archived atrealtor.org/global/globalperspectives.The U.S. Census sitequickacts.census.gov/qdis alsoworth a visit because many topics have been updated with2009 data. For example, the 2009 demographic profle oDenver County shows that 34 percent o the populationwas Hispanic or Latino, and 3.5 percent Asian.
Take a
Closer Look
Any real estate agent with a long-term perspective knows that it makes good business sense to examine yourmarket or segments that are expected to grow in the uture, and begin investing your eorts to develop thosesegments now. The U.S. Census Bureau reports that the astest growing ethnic groups in Colorado are the Hispanicand Asian communities, which in Denver grew by 39 and 31 percent, respectively, rom 2000 to 2008, mostlythrough immigration. In contrast, non-Hispanic whites grew only 9 percent during the same period.This trend is expected to continue in the uture. (See graph below.) For an agent who wants to tap a growingsegment and has an interest in multicultural business, this presents a terrifc opportunity. Here are specifc stepsyou can take to begin developing business with these ast-growing communities and other parts o the internationalmarket in Colorado.
How to fnd global inuences and opportunities in your local market
Expected Population Growth by Ethnicity
2008–2013Denver-AuroraMSA
4.82%8.42%17.05%19.42%
Hispanic Asian AfricanAmericanWhitenon-Hispanic
Source:U.S.CensusBureau,2009NeighborhoodUpdate
 
Global Perspectives
June 2011 ~
3
Many Colorado area economic development organizations providedemographic community snapshots and summary topline trendsor site selection purposes.MetroDenver.org, or example, pointsout that ethnic and minority communities grew at twice the rateo the rest o the population between 2000 and 2008.GlobalDenver.orgreports that over 10,000 immigrants come tolive in the city each year.
Step 2.
Learn more about the communities andhow to connect with them
Relationships are the oundation upon which successul real estatecareers are built, and maybe even more so when working with theoreign-born. As Americans, we are used to meeting, greeting andgetting down to business. In many non-Western societies, gettingto know someone on a personal and social basis is a prerequisiteto entering into a business relationship. In other words, it’s moreabout building a cache o ace-to-ace contacts than building yourriend list on Facebook. You may fnd yoursel investing lots o time,eating lots o oreign dishes, and learning new customs, especiallywith older individuals.Attending activities and events sponsored by cultural associationsor your local REALTOR
®
association can help you become amiliarand at ease in new cultures, and gain recognition and respect inthe immigrant community. AtGlobalDenver.orgyou’ll fnd links tocultural associations and other organizations or all nationalitieswith a signifcant presence in the city, and contact inormation orgroups in other parts o Colorado.To become more amiliar with Denver’s Asian population, orexample, attend the Annual Colorado Dragon Boat Festival(cdb.org), a pan-Asian event held every July to buildunderstanding between the Asian-Pacifc American communityand the general public. It is a celebration across Korean, Japanese,Chinese and other Asian cultures involving boat racing, ood, andathletic competition which attracted more than 100,000 visitorsin 2010.On a smaller scale, the Japan America Society o Colorado( jascolorado.org), a leading cultural and business link betweenJapan and the state o Colorado, sponsors Meishi (business card)Mixers or networking within the Japanese-American businesscommunity.
Step 3.
Find the companies hiring oreign workers
Every year hundreds o highly-skilled and proessional immigrantscome to Denver to fnd employment. Many o them are sponsoredby their employers, companies that recruit degreed individualswho enter the U.S. on temporary work visas, and later apply ormore permanent residency, oten becoming homeowners. Thecompanies who hire them apply or the workers’ visas, which mightinclude H1-B, H2-B and green cards.To reach the workers, reach out to the companies that hire them.In the past, large private corporations, universities, researchacilities and hospitals have tended to be the largest sponsors inthe Denver area, bringing in large numbers o workers each year.For instance,MyVisaJobs.com, a visa job inormation portal andonline immigration community, reports that Ciber, Inc. has appliedor 200 highly-skilled temporary workers since 2001; Verizon, 149;Fujitsu Consulting, 122; and Qwest Communications, 128.You can also useMyVisaJobs.comto look or companies andorganizations in your area that are currently hiring highly-skilledoreign temporary workers. Enter your city’s name and state in thesearch tool and you’ll be able to view a list o companies, jobopenings, company background inormation, and even how manyvisa workers those companies have applied or since 2000 andaverage salaries. Presently, it reports that there are nearly1,600 openings in the Denver metro area or immigrantproessional workers.Company sponsors are required to cover workers’ travel costs andassist them in fnding housing upon arrival. Find and introduceyoursel to the contact within the company who is responsible orthis. Leverage your knowledge o local immigrant communities todemonstrate that you can be a valued resource in helping oreignemployees fnd their ooting in their new land.Newly arrived workers may not be in the market to buy a houseimmediately, but will remember your assistance when that timecomes. Meanwhile, as they make contacts within their culturalcommunity, you’ll probably receive reerrals. And, through them,you may be able to reach out to other immigrant workers at othercompanies who may be ready to look or a home.
Step 4.
Don’t orget universities
Universities and associated hospitals are among the largesttemporary visa employers, according toMyVisaJobs.com. TheUniversity o Colorado at Boulder applied or 136 H1-B visas in2009; Colorado State, 46; and 64 at the University o Coloradoat Denver. I a university, college or major medical center is inyour market area, add them to your list o targets.
(continued on page 4.)

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->