Why Local Home Sellers Should Pay Attention to International Home Buyers?
One
afternoon in between appointments, I walked to a Starbucks to grab a latte to return
calls and emails before I meet my next customer for the day.
While I was
in line to order I met a nice lady and we engaged in a conversation. We talked for
a while about Texas economy and many industries that have been impacted by
large companies relocating to the Lone Star State and many people moving
attracted by the booming economy, job opportunities and education quality.
This subject keeps surfacing, so as I got back
to my office, I decided to write this blog to share our conversation. This data
is fascinating and worth sharing to show home sellers that international buyers
cannot be ignore.
International home buyers added $121
billion to the US economy form April 2017 to March 2018, according to the Texas
International Home Buyers Report latest released by Texas REALTORS®.
Texas accounted for 10% of all
international homeowners in the US with $10.89 billion in one year alone!
Six Texas metropolitan statistical areas are in the top 50 MSA in the nation for immigration. (Ref Department of Homeland Security)
Houston-Sugar Land – The Woodlands
·
Dallas
- Fort Worth – Arlington
·
Austin
– Round Rock – San Marcos
·
San
Antonio – New Braunfels
·
El
Paso
·
McAllen
– Edinburg - Mission
Knowing this
data, the next question is, who are the top countries for international home buyers
in Texas?
- Mexico 38%
- China 7%
- India 6%
- United Kingdom 5%
- Canada 3%
Why is this
important to home sellers? Well… when considering a strategy to market your
property for sale, a local marketing campaign is not enough to give the
exposure you want to the largest number of buyers in the market. Most sellers’ goal
is to sell not only in the shortest time possible but also to obtain the most
profit for their property. The largest the number of possible buyers the best
possibilities to obtain an offer or even multiple offers.
From these 5
groups of International countries, buyers purchase properties in United State
for investment, vacation use and as primary residence.
·
52%
of foreign buyers in the US purchased their property as a primary residence
And here is the next fascinating statistics:
According to
the Profile of International Transactions in the US Residential Real Estate
2018 by the National Association of REALTOR®, foreign buyers are more likely to
pay cash than all existing home buyers. From all reported transactions:
·
47%
of Foreign Buyers paid cash vs 21% of all existing home purchases.
·
72%
of Non-resident foreign buyers paid cash vs 30% of Resident-foreign buyers.
On average, foreign buyers paid higher price
of all existing homes sold in the United Estates
When it
comes to global marketing, make sure to speak to an experienced REALTOR® who knows not only the local market but also is trained to served
International clients dealing with the US housing market.
Email to
receive a full copy of The Profile of International Homebuyers Texas 2018 or
The Profile of International Transactions in the US Residential Real Estate
2018 at brendataylor@remax.net or call 972-489-4050
If you are
considering selling your home, let me show you how beneficial can be marketing
your property to International buyers.
Brenda P Taylor
is a member of the National Association of REALTORS® where serves in global
committees in the local, state and national level.
CIPS
Certified Property Specialist, GMA Global Marketing Agent, Member of NAHREP
National Association of Hispanic Real Estate Professionals 
