Feeling eager to dive into the global real estate market but not sure where to start? Venturing into an international real estate career opens up opportunities to work with properties and clients worldwide, expanding your network and income potential. Discovering new cultures can be thrilling, and it’s natural to envision yourself leading a jet-setting lifestyle.
However, breaking into international real estate requires more than just making the decision. Keep reading for our top tips on getting started with an international real estate career.
What Is an International Real Estate Agent?
An international real estate agent is someone licensed to assist clients in buying and selling properties worldwide or expanding their businesses overseas. However, being an international real estate agent doesn’t necessarily require living abroad. Some agents work from their home country, while others opt for frequent travel.
Licensing works both ways. International real estate agents can reside in the U.S. and assist individuals from overseas in purchasing properties there. Alternatively, they can help U.S. residents relocating abroad find homes in other countries.
What Do International Real Estate Agents Do?
International real estate agents assist clients in purchasing or selling property in foreign countries. They also aid individuals whose businesses have expanded internationally in finding secondary homes and offer expert guidance on global real estate trends.
How to Become an International Real Estate Agent.
Get educated
If you’re aiming for success as an international real estate agent, dive into learning everything you can about global real estate. There are fantastic courses available specifically on this topic, so consider enrolling in one. These courses aren’t just about mastering the ins and outs of global real estate; they also cover areas like currency and exchange rates, building cross-cultural relationships, understanding international markets, and evaluating investment performance.
Remember, it’s always better to be over-educated than under-educated. No client will ever say, “You’re too knowledgeable about real estate, so I’m not interested in hiring you.”
Pass your state licensing exam.
Before you can snag an international license, you’ll need to be licensed as a real estate agent in your state. Each state has its own set of real estate laws, so your state’s real estate board is your go-to for info on the necessary classes and tests.
Work in the industry
Once you’ve got your real estate license in your state, start expanding your network, honing your skills, and soaking up knowledge from seasoned international real estate agents.
Obtain your CIPS certification
To become an international real estate agent, you must take five Certified International Property Specialist Certification (CIPS) courses acknowledged by the National Association of Realtors. The certification stays valid for three years.
You’ve got two mandatory core courses that delve into local markets in global real estate and transactional tools. Then, you pick three elective courses focusing on selling real estate in specific global regions.
Once you’ve wrapped up the courses, send in your certification application and pay the fee. You’ll need to score 100 points to snag that certification.
Get to work
Hey, congrats on becoming a certified international real estate agent! Now, let’s dive into action:
- Figure out which part of the world you’re keen on working in.
- Pay a visit to that area and get acquainted with it.
- Get the lowdown on what the market’s like over there.
- Start networking and making connections to grow your presence in that area.
Tips for International Real Estate Agents
Looking to make a lasting impression? It’s a smart move to pick up the language spoken in the country you’re eyeing. Potential clients will be wowed by your effort, and you’ll save on interpreter fees during negotiations.
Respecting and understanding the local culture is a given. Who wants to deal with someone who doesn’t appreciate their values and way of life?
Getting acquainted with the area you’ll be working in is key. Knowing the ins and outs is just as crucial as understanding the local customs.
As an international real estate agent, expanding your network in the countries you’re operating in is vital. Get to know the local business community, officials, and fellow real estate pros you’ll be collaborating with.
Consider specializing in a specific niche, like luxury homes. Being an expert in a particular segment of the market will set you apart from the competition, especially in overseas markets.