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Lawrence Yun, Senior Vice President Keunwon Chung, Statistical Economist Jed Smith, Managing Director, Quantitative Research
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Survey Conducted During October 2011. Questions Focused on Experiences During Past Twelve Months. Received a Total of 726 Responses. Analysis Indicates that International Sales Are
Important niche market for a number of Realtors. Are to a large degree based on referrals. Are a growing market. Result in transactions significantly above current median prices.
83 Percent of Miami Realtors Had Worked with an International Client in the Previous Twelve Months
The comparable result for Florida Realtors overall was 77%
Nine percent of Miami Realtors Closed 20 or More Domestic or International Transactions in the Past 12 Months 56 Percent Closed 5 or Fewer Transactions
Types of International Clients Served by Realtors Non-Resident Clients: the Typical Client for a Majority of Realtors However, a Significant Number of Realtors Serve Both Types of Clients
For Many Realtors: Occasional International ClientsA Small Percent of Their Total Practice
International Transactions with Median Price of $222,500 Significantly Above U.S. 12 Month Median of $166,400
Percentage of Clients Who Are International Has Changed in the Past Year
Concern by international clients concerning U.S. economy and projected home prices. Residence requirements/immigration issues. Language and diversity of culturescan be issues in completing transactions.
Diversity of expectations. Language capabilities important.
Language and cultural capabilities appear to be importantparticularly Spanish and Portuguese. The Market presents challenges.
Financing: Many buyers pay cash because credit scores do not transfer easily on an international basis. Failure to find a property may indicate additional opportunities for Realtors to provide improved service beyond current offerings.
Commercial transactions appear in a number of cases to be connected with visa and immigration opportunities. Many Realtors with international practices have a variety of designations indicating specialized expertise.