An Insight Into My Overseas Client Base
Breaking ground on international relations.
If you follow me online, you would have noticed I have been in Singapore the past few days - re-connecting with past clients and establishing new relationships in the local real estate market.
I’m often asked about my international client relationships and thought I’d share some insights given I’m on the ground and in the headspace.
Thinking bigger than Brisbane (or wherever your business is based).
The thing is, it’s easy to narrow your thinking to just locally when you’re in real estate.
We get into our bubble and forget there’s a whole other world of people out there waiting to be guided through the ins and outs of the Australian property market.
They just don’t live in the next suburb.
You won’t find them by doing a letterbox flyer drop or scanning RP data records for a phone number. Connecting with these people requires a little more planning and forward thought if you’re to establish a business relationship.
Yes, the majority of clientele are likely living locally, or perhaps interstate, but what about those who have moved abroad but still desire a connection to their hometown in Australia?
I remember signing my first internationally based client. It was an exciting moment and certainly opened me up to a whole new set of learnings and way of thinking.
Helping someone buy a property from afar is an incredibly satisfying experience.
You are typically their one trusted connection to the local landscape and this in itself bears a lot of pressure, but it also forces you to step up your game and really bridge the distance gap as best as you can.
I have worked with clients from all over the world throughout my real estate career, but the common countries where my clients have been based include Singapore, Macau, Hong Kong and Dubai.
Essentially, my clients are Australian expats who have chosen to live and work in Asia for a certain part of their working lives and as part of their life plans, have strategically chosen to leverage their earnings by investing in the Australian property market - namely, Brisbane.
How the pandemic impacted property.
During the Covid 19 pandemic, many Australian expats sought to secure property in Brisbane and I remember making those zoom calls to locked-down Aussies in their Singaporean apartment blocks, almost with a sense of guilt that I was on the outside, free to roam around, whilst they remained inside for weeks on end.
It was a trying time and one which I’m pleased is now behind us.
The past few days I have caught up with some of these exact clients whom I remember making calls to - checking in with a property update for their search but also being their connection to the outside world that was still seeming to function despite the strict lock-downs imposed.
Nurturing Existing Client Relationships.
Last Friday evening, Ben and I had dinner with a professional couple who I worked with during the pandemic.
C and M had engaged me to secure their first investment property in Brisbane and at the time, the market was in full covid boom, which made my job that much more challenging, but alas, we did eventually strike success in Ferny Hills.
Reminiscing on that time over dinner was somewhat nostalgic and now that the investment is secured, the couple are capitalising on the equity increase by making further improvements to the property via renovations.
C and M have since referred their parents to me for a purchase… and this is how it all starts.
Taking the time to go the extra mile during the search, stay in touch afterwards, and provide an after-service that shows you care about the future of the investment is what solidifies these relationships and promotes future referrals from those living abroad.
Connecting with local real estate agents.
Another point I go about making when I’m travelling to a foreign country is to research the local real estate market and seek out agents who look to have like-minded values and work in a similar space to me.
I’m genuinely intrigued with how the real estate game is played in different countries and always seem to find myself standing outside of a real estate office, looking to be pulled in for a chat about the market and local landscape.
This time around, I connected with Elaine She, an independent luxury real estate agent based in Singapore who has worked in the industry for several years, facilitating property sales and purchases for local and international clientele.
Pictured at The Providor Cafe at Raffles City. Connecting with like-minded professionals in your industry gives you a much broader view of business. It’s also a great way to establish international referral partnerships and have a trusted point of contact on the ground for when you return.
Meeting with Elaine was refreshing and she gave an interesting recap of how property is transacted in Singapore; put me in the know with the local trends, housing styles and price points and of course, the challenges she has experienced during her career. Some of which I can deeply resonate.
I found it fascinating to understand the vast differences in how real estate agents operate in Singapore, as opposed to how we do things in Brisbane.
One thing that stood out to me was that Buyer’s Agents like myself don’t yet exist in Singapore.
What are the steps I need to take to build my network abroad?
If you’re interested to understand more about how I go about managing international relations and the specific steps I take to nurture my networks so I get repeat clients and referrals, read this post - How I Build My Network Abroad.
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ABOUT THE AUTHOR
Wendy Russell writes about the realities of a career in real estate. She is a self-made woman and Independent Buyer’s Advocate based in Brisbane Australia, representing busy professionals in luxury home purchases.
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