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Sign into your accountA connected globe means global opportunities for you
April 23 2015
Focus on a multicultural reach in your local market
As a Cuban-American living in Miami, I'm quite sensitive to the international nature of real estate. Brazilians, Columbians, Venezuelans, Russians, and many other foreign nationals fuel a very robust real estate market in Miami. And the same can be said about other gateway cities such as Los Angeles, San Francisco, New York, Houston, and many more.
If you're a real estate brokerage located in a gateway market, you're missing opportunities if your business lacks multilingual agents, multilingual staff, or a multilingual website. Without a multicultural focus, making outreach efforts overseas or being part of one or more international networks is impossible.
Most brokerages in these busy international markets understand the need for a multicultural business model in order to effectively compete. It's pretty much a requirement for success these days.
More and more, I'm seeing smarter brokerages in less international markets making efforts towards a multicultural model that are paying off. For example, I spoke to a development services company in coastal North Carolina recently. They told me how many of their buyers come from Canada and through their marketing outreach in markets like Toronto, Quebec, have encouraged Canadian buyers stop in their local developments instead of others.