Main

Canadian Markets Show Positive Signs

Our neighbors to the north also have areas of hyper active real estate markets – both good and bad. Over the past few years as the US grows in political divisiveness, unrest is beginning to set in with respect to uncertainty in real estate verticals.

As we all know there are plenty of factors that play in to market fluctuations and trends including bubbles. In Canada there are currently three primary housing bubbles worthy of notice. Toronto, Vancouver and Victoria are currently neck deep in out of control housing bubbles making home ownership out of reach of many Canadians.

The median price for homes in Toronto are currently $875,000 while Vancouver sits around $993,300. Meanwhile in Victoria the median home price is $693,000.

An interesting biproduct of housing bubbles is their effect on other housing markets in other areas.

One area in particular is Calgary. With much of the focus on housing markets of the big three, markets like Calgary are benefiting. As median prices rising in areas like Vancouver & Victoria, homebuyers are forced to look to other areas where they can comfortably purchase and afford mortgages.

As of August 2019, the median price for single family dwellings in Calgary sits around $420,500. Which is considerably less than other metro cities across Canada while offering many of the same amenities.

Calgary as of 2019, has a populous of approximately 1.3 million which makes it Canada’s third largest city after Vancouver and Toronto.

So what’s the draw? Well where do we begin?

Did you know Calgary is infact the cleanest city in all of Canada? It’s true. Outdoor lovers are drawn here for the close vicinity of all sorts of outdoor adventure areas totaling almost 20000 acres of parks and outdoor areas. Also an interesting tidbit about Calgary is the fact it has 16 kms of overhead enclosed walkways connecting downtown businesses and buildings.

Calgary also offers a lower cost of living than many other metro Canadian cities and has the lowest sales tax.

That being said there are also some incredible areas surrounding Calgary to consider that are now amidst their own real estate boom.

Auburn Bay is a lakeside community(gated) that is widely considered the most popular for families while there’s also nearby Cranston, a master-planned residential community to the southeast of Calgary. In Cranston you’ll find everything anyone could want in the perfect neighborhood to raise your family.

So as you can see Calgary has a lot to offer while also saving you money in your homebuying experience.

Homes Are Selling To International Buyers Across the Area

The Internet transformed numerous facets of real estate however arguably by far the most affected was actually the ability for realtors selling international real estate, to contact a larger more diverse segment of real estate investor without having much difficulty. Which is the case within any sector, when opportunity presents itself like it has in international real estate, it can’t go disregarded. With figures like fifty percent growth in volume every single year and boasting an overall share of the actual real estate earnings of the U.S. at ten percent, the international home buyer is gradually becoming a factor to consider for any real estate agent trying to enter this sector valued at north of $150 billion in 2017. Which is as stated in NAR’s 2017 Profile of International Activity in USA Domestic Real Estate.
real estate international

Advertising courtesy of Galvan Real Estate

The most appealing component to dealing with international clients, from the realtor’s perspective, is transactions involving an international buyer have the tendency to return greater commissions. Best of all the reality that many international investors are well-off wealthy elites on the lookout for rewarding opportunities and also premium luxury 2nd or vacation properties. Like many things, there are various things to take into consideration before merely thinking that you are going to target international real estate investors. It can be problematic and you are going to need some assistance. According to Brett Elliott of Costa Rica Real Estate dot COM (CRREC), “Assuming anything will go smoothly in any international real estate transaction is a mistake. Expect the worst and plan accordingly.” The most significant difference between working with the domestic populous as opposed to internationally, would be the language barrier. In spite of this many foreign clientele employ people to break down the language barrier when seriously deciding on investment in another country. Of all countries actively partaking in the United States real estate marketplace, China really dominates and is accountable for over half the entire international sales volume in the US alone. All of this regardless of the many dissimilarities in culture, language and investing protocols. So is there an even better strategy for realtors to position themselves for this huge, lucrative market? CPROPs end-to-end digital exchange administration system is fashioned to present real estate agents to international prospects and help them to safely and transparently close deals. Fundamentally it uses technology to simplify the sales process of agencies, from the start of a deal to closing. The following are a few different ways any real estate broker can be a part of this developing segment of the real estate industry.

Join up with a trustworthy international base

Now you should not go believing it will be simple to get in to the international real estate sector. Realtors looking at stepping into the market of catering to overseas buyers and sellers should certainly think creatively and research segments of the internet where these pocket forums may assemble. Always remember also that considering your platform also offers automatic translations, this may also be a huge bonus.

Think confidence and stability

international real estate

Image thanks to CRREC

As the old saying goes, long distance relationships hardly ever last, still in this case they can and do you simply have to get ready particularly in the case of cross language communications. That may be why agents seeking to develop their international dealflow need a platform to accomplish these transactions with trust and security elements already in. Technology shifts at an incredible pace and lately blockchain technology has came into the mix and everlastingly changed how real estate agents conduct business on the net. Once a contract is concluded and executed, it can be saved to the blockchain, generating an immutable allotted ledger verified by a system of oftentimes thousands of computer systems, thus effectively eliminating any unnoticed changes to a contract. Most likely one of the greatest elements to employing blockchain technology is for down payments and money held in escrow.

Obtain responsible, successful alliance

There is no denying the difficulties in closing even a national deal but when you begin interacting with international investors and sellers you’ll discover a laundry list of more hurdles you’ll have to traverse among them language barriers. Have you any idea about your transactions standing in real-time, what’s left to complete and who should next take action? All of this being said, wouldn’t you recognize that an all inclusive electronic transactions SaaS system built to satisfy international real estate transactions from start to finish, be a welcome addition to all realtors? Routine transparency simplifies communications, loosens realtor time and eases everyones mind.