Local Agents Remove Language Barriers, Build Trust to Close Deals

Lining up financing, going through the inspection process and ultimately getting one’s possessions under a new roof can involve a cascade of complications, from recalcitrant lenders to uncooperative weather on a tight moving schedule. The logistical headaches multiply when a client lives in another country. With these added complexities to contend with, it is critical that agents build trust quickly with such clients to ensure deals do not fall apart. Agents can do several things to make this happen.

Referrals from previous clients were cited as the most common source of international clients according to NAR, making up about 56 percent of leads. Another 20 percent said their leads were generated through online listings. Referrals from previous clients and contacts was ranked as the most important source for leads by 26 percent of Realtors, followed by friends and family at 19 percent, domestic sources by 9 percent and international sources by 2 percent.

Frost speaks Mandarin Chinese, which helps her avoid the language barrier issue with her clients from mainland China. She says that her language skills help her to build trust with those clients. She also has a large network of referrals.

“The referrals trust me because their friends referred them and had experience with me,” Frost said. “I think those clients are easier to work with because they trust me when I guide them. Some of my clients found me online through Zillow or through Trulia, and then those clients normally want to meet if they’re in Chicago. If they’re not in Chicago, I do conference calls with them to introduce my background and the Chicago market.”

Much of Sears’ international business comes via referrals, but he also uses his membership in international organizations to find clients and smooth the process. He has a Certified International Properties Specialist designation from NAR, and is the chair of FIABCI-USA Chapter’s Chicago Midwest Council. These and other credentials help him establish trust with clients.

“[FIABCI] is a unique operation because it brings people who are ancillary to the entire process,” Sears said. “Its members include people from banks, title companies, insurance, movers, lawyers and CPAs, so people can understand what the whole process is. These people have all been vetted, so you know they come recommended, and if you need something, someone will call.”

The logistical challenges and often limited time foreign buyers have to complete a transaction require keen local knowledge and the ability to quickly build rapport and adjust to a client’s situation. But as with local transactions, it all boils down to getting to know the client and how to best address his or her needs.

“You’re not going to show 50 places,” Sears said. “They don’t have time for that. They have very specific criteria. You take that criteria and find what they’re looking for, and they decide what they’d like to see and you schedule showings. They’ll fly in, typically for a week because they like to be here long enough to get a little flavor. It’s not like going to see one place, deciding whether or not you like it and going back home.”

Many factors will drive the future of international purchases in the Chicago area: activity in foreign markets, home prices and interest rates, just to name a few. But one thing is for certain: if agents hope to work with affluent international clients, they’ll need to develop a global perspective and strategies to overcome financing, time and language obstacles to succeed. CA