Communicate effectively with foreign investors to maximise your business’ potential

In the era of globalisation foreign investment has, more than ever, become an integral part of a nation’s economic stability and development. Australia is no exception, with international buyers showing great interest in our country’s lifestyle, natural resources and educational institutions. This fact, together with Australia’s diverse multicultural composition, has increased the necessity for real estate agents to develop their intercultural communication skills. 

While real estate agents generally become very strong interpersonal communicators with English speakers, they do not necessarily always learn how to adapt their communications methods to the needs of overseas clients. As such, they can fail to maximize the value of prospective sales and clients.

The key to effectively communicate with someone from another culture is contained in first understanding that you will need to be both more conscious of and strategic with your messages than you may usually be.

You should also make a point of proactively seeking out information about the person’s background – where they come from; what language they speak; their traditions and customs. Such information will make it easier for you to ascertain their expectations, barriers and eccentricities, which in turn will enable you to cater your communications approach to them.

Next, cultivate and demonstrate tolerance. You should always be prepared for the possibility that cultural differences may cause some communication problems, and be willing to be patient and calm, as opposed to hostile and aggressive. Responding to questions or concerns should always be done in a clear, slow and even manner, which will help to diffuse intensity and reassert control over the situation.

Another simple way to ensure that your dealings with foreigners are conveying your intended meaning is to be as direct as possible.  Try not to use large words if a more straightforward term exists.  Also, attempt to construct short and concise sentences – an approach that commonly increases the power and impact of messages.

In terms of language it is also best to steer clear of ambiguities, innuendos and implications. The English language uses conditional words such as “may” and “could” more than most languages.  To your foreign client/s, words like these could very possibly mean “will.” Again, keep your messages direct, clear and obvious and you stand a much better chance of pushing through a sale.

As technology, trade and economics continue to bring the world even closer together opportunities for foreign investment in the real estate market should continue to increase. Therefore, it is important for you as a real estate professional to consistently employ effective cross-cultural communication techniques when speaking to prospective overseas investors. In doing such, you stand a greater chance of maximising your success as an agent.

The importance of maintaining training

For professionals across many industries, it is often the case that once qualifications in a certain area have been completed and an individual progresses into employment, a good deal of time then passes before further training or education is undertaken.  While the knowledge and know-how that can be developed through experience in a role is highly beneficial, it also remains important for real estate agents to continue their external learning once established in a job. 

There are a variety of different topics that can be advantageous for agents to consider, ensuring that they remain up to date.  These can include evolving and advancing technologies, new methods of marketing, different approaches to the sales process and the like.  

Educational forums on many of these subjects will present agents with new ways of thinking and doing things.  Once learned, it will then be up to the individual agent as to whether they decide to incorporate these perspectives into their approach.  The important thing is that they are positioning themselves to better understand the various tactics available to them. 

There are a variety of different real estate training and education resources available to real estate agents.  CENTURY 21 Australia, for example, regularly conducts seminars across the country, designed to keep agents up to date with the very latest in real estate sales techniques and technologies.  Most successful agents find that by taking the initiative and engaging in such educational opportunities where possible, they are usually able to ensure that they remain up to date and maintain a competitive edge over other agents in their area. 

It must also be said that when considering new or developing ways of doing things, real estate agents should recognise their own personal strengths and what they do well.  With this in mind, agents can then make an informed decision about whether to incorporate newly learned skills into their repertoire of tactics, or to stick with their tried and true methods.

Regardless of whether real estate agents decide to apply the knowledge they acquire through training or not, the important thing is that they remain up-to-date and informed on a consistent basis throughout their careers.  And in today’s world of rapidly advancing technologies and emerging theories on sales approaches, there can certainly be some tangible benefits for agents who take the time to maintain their education. 

Become a better agent – determine what works for you

There is certainly no shortage of educational material and training courses aimed at providing real estate agents with a variety of ways to improve their performance.  Many of these resources can be very valuable and certainly enable agents to become better at what they do – enhancing their strengths and developing areas that might need some work.

It must be said however, that in professional settings there are certain ways that we as individuals do things that simply work for us.  As a real estate agent, this could be the way that you present to prospective clients or show buyers around a property for sale.  

In this age of rapidly advancing technology, new techniques and tools are providing alternative solutions for real estate professionals to conduct business and connect with markets.   On paper such new ways of doing things may look to be efficient and valuable, and many agents will be compelled to embrace them wholeheartedly.  

It is certainly positive when professionals view new developments with an open mind and consider how they might be best incorporated into daily practice.  However the danger with new developments can often be that people favour new, popular tools over methods that work for them and that they do well – to their personal detriment.  

By way of a simple example, many agents are now using tablets to deliver presentations to potential vendors.  While presenting in this format can definitely look professional, there are many agents who will look to use this new technology, yet in actual fact their own traditional means of delivery might actually be much more powerful and convincing.  

There could therefore be much value for real estate agents to take a step back and seriously consider what they do best and the tactics that work for them to achieve their ultimate goal – selling real estate.  When confronted with new mediums and tools, it is certainly worth agents considering how these might be incorporated into their overall strategy, however agents should take care not to be swayed by emerging technologies to the detriment of tried and true methods that they know they can execute and achieve results.  

Ultimately, finding the combination of new techniques and proven tactics that works best on an individual level could be an ideal approach for those real estate agents who wish to achieve personal success.