Focus on Refining Your Expertise

What unique knowledge do you offer as a CIPS designee?¹ What sets you apart in your industry and local area? Think about what areas of knowledge you offer to your clients and continue to grow that knowledge. These can be on any number of topics and will largely depend on your region, but here is a quick hit list of particular subjects to stay on top of in order to reiterate your value and expertise to your clients.

Currency and Exchange Rates²

Your clients are relying on you to understand the exchange rates, patterns, and impact these could have on their finances and purchasing experience. Exchange rates and currency markets are in a constant shift, often changing by the minute, and they impact on every aspect of worldwide businesses. Small shifts in this area can have large consequences, so it’s imperative to stay tuned in to this area.

Local Market Practices³

Learn and understand what customers need and want. Do they expect a property to have land? Do they want garage space? Do they want a home that’s near public transportation? Keep up with investment trends: Research to understand the type of buyer who tends to purchase foreign property. Watch the trends of foreign buyers’ activity and use this data to make informed decisions.

Transaction Management

Learn the red tape in your region! Here are a few things you can do to keep on top of the details you’ll need when buying or selling real estate in the global landscape.

• Research the local laws, tax laws, zoning regulations, and any restrictions on foreign ownership.
• Lean on your network of lawyers, accountants, and property managers who can become sources of information for you.
• Realize how currency exchange rates may impact your transaction.
• Make yourself a checklist and stay organized throughout the process. This list can include things like inspections, property document review, contract information, and so on. This will help steer you and your client through the process and will reassure your client that you know what to expect!
• Ensure clear communication, instill confidence, and avoid misunderstandings by having documents translated, or include a translator if needed.

¹ homeabroadinc.com/certified-international-property-specialist-benefits/
² delawareinc.com/blog/exchange-rates/
³ agent.properstar.com/en/marketing-yourself-as-an-international-real-estate-agent