Sometimes, the best way to hit a target is not to aim directly at it.
So says Teles President Sharran Srivatsaa in his latest piece for Real Trends. In ‘Thinking Beyond The Border,’ Srivatsaa discusses his preferred strategy for targeting foreign clients, and it may not be exactly what you think.
“Many agents believe that once they list the home for sale on the MLS their job as a listing agent is complete,” Srivatsaa writes. “But the truth is, it’s far from over. The agent’s responsibility is to recognize and target the type of people who will look for the home and then laser focus the listing launch based on that information.”
The question is how to find those people. While we’ve become used to the idea of directly targeting demographics based on statistics and keywords, the real way to snag an international buyer is a bit more nuanced than that.
“It’s ineffective to just blast every publication in China for a needle-in-the-haystack Chinese buyer,” says Srivatsaa. “Instead, it’s important to understand who the buyer is, what their affinity to the home could be, why there is a draw and how to influence them or “shock” their psyche to pay attention to the commercial message.”
And how to shock that psyche? Our President has a couple of very effective tips.
Instead of going right to the buyer, it’s important to find the people they trust and let them do the advising for you.
“In our five years of research and experience in building an international database, which has driven more than $1 billion in direct deals, we have found that the best way to reach these international buyers is the rifle approach of curating the local market brokers that have documented relationships, and the international personal advisors of clients, who are their confidants,” he advises. “The number one source of connectivity is to know the advisors of clients, instead of the clients themselves.”
For Srivatsaa’s detailed plan of attack, read the full article here.