selling london property overseas to foreign investors/buyers

mbd7

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Apr 11, 2013
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1
Hi Guys

I wonder if I post this up, what reaction I might get back, I'm interested in positive/negative anyone who things they can help, work together, expand on this etc , I'm open to all thoughts and ideas

I'm just coming out of my last business which was successful but winding down now as its time has come and gone and I'm looking for a new fresh start.

I am looking for something to build, slowly if necessary but into something that can kinda become established in what it does over time

the sector I like is London Property as I don't see this going anywhere and I think its a good sector to try and break into and get some sort of foothold.
I have some contacts in property but isn't my background so wouldn't think of becoming a developer, or buy to let specialist as my background and expertise is in marketing albeit to the UK market.

Id like to try and establish a brand, a company that works with overseas buyers looking to buy prime property in London, through marketing deals and partnerships in overseas markets that generates calls, the callers can then be spoken to , their needs ascertained, and then appropriate properties forwarded. The buyer wouldn't pay anything initially ( maybe 18 months down the line when established could get a 0.5% for securing the right properties, discounts etc) but initially the developer in London will pay 2% for finding a sale, or if needs to be split between a local agent 1% each, would aim to get clients directly but working with local agents is also one angle

The issues as I see it are that London is very popular for all sorts of good reasons, so its a case of selling London and then selling the return on London and the London dream , its also very prestigious to own a London property, however the 2 biggest overseas markets are Singapore and Hong Kong , where most purchases come from but also the most competitive. But the way it is working now is that developers together with agents go over for launch weekends where they attempt to sell out in one weekend, however it is becoming harder because for instance last weekend there were 8 or 9 separate London property launches in just 1 weekend!

However I see this as something which isn't marketing specific developments as exclusivity arrangements come into place especially for the launch , but something where we market London and the service we can offer.

If we can build a foothold in Singapore and Hong Kong without being just a release weekend build a database of single and multi purchasers then can build into other areas of foreign interest such as mainland china, Malaysia, Thailand , etc and even middle east and Africa where people have started looking for London property but obviously sales volumes are not in the same volumes as Singapore and Hong Kong but less competitive and may be able to get a foothold in these markets before they really develop

As I say it isn't a get rich quick plan but want it to wash its face and then can build upon that over the years

I'm working on a website, high brand values, looking established and trustworthy etc, and then plan to work marketing deals off the back of that, my experience is in TV and thinking I can get a low cost advert but direct speaking in some of these local audiences perhaps on CNN or FOX network and then try and build some new enquiry's and branding through that, If we can find 1-2 things that work, then 4-5 a month then we have a business,

The local papers in Singapore I'm told are hammered

I am also planning on running some local pay per clock leading to country specific ( own language) landing pages together with the fuller full English website where people want to read in English but trying to keep it simple without having to recreate the website x 6 in many different languages just have different language landing pages

The idea will be to generate phone calls, and the websites will all look like we have a local presence with local telephone numbers and addresses through Regus

I am also investigating buying a LTD dormant company with min 5 years since established so we don't look too much like a start up

Im planning on going over to Hong Kong and Singapore , perhaps mainland china in a few weeks as an exploitative visit,

And also not forgetting that a lot of overseas purchases in London come from places like Russia and the USA which could form part of the plan

Its not going to be a high volume thing, but more one of quality not quantity, and I'm sure if we can put the right brand image across and handle the calls in a professional way, then we have a decent chance of being successful with the right marketing deals

Any thoughts or feedback would be very much appreciated

Thank you in advance
 

Psl

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May 4, 2010
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So you want to become an 'exclusive property concierge service'?

Will you market developments and sell 'off-plan'?

Are you looking to build a client base of exclusive property buyers in the countries mentioned, and then find them a suitable property based on their requirements?
 
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mbd7

Free Member
Apr 11, 2013
31
1
Thanks very much for your questions

I wouldn't use the word concierge as this has different connotations ie in terms of the flats sold, most buyers would identify a concierge service as something would want in a prestigious development

and in terms of exclusivity, we wouldn't tie the client into being their exclusive resource but obviously once we had established a relationship with them we would rather they continued to deal with us

I dont think we would get exclusivitiy on a development from a developer , certainly not as a start up, perhaps when we are developed and we have a hard core of buyers that we are aware of, we might be in a stronger position to look at this, but I dont think its nesecarry really to have exclusisiivity on developments , or tie buyers into being exclusive with us, we will live and die on the service we provide and thats fair enough

We would be an alternative to working with people alone, or being sold to by one agent or developer who may happen to be in town at the time, a type of hand holding service from a credible service providing clients with a good job is the idea so that anyone from overseas thinking about buying a property in London should be speaking to us, either first or last!

Yes the idea is to generate calls, start conversations with people interested in buying in London, identify their needs then service their needs on a bespoke basis and provide them things which meet their requirements which will hopefully follow through into sales
 
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Psl

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May 4, 2010
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So you have a property requirement property brief, from a foreign national and then you source a range of properties within the parameters of their requirements?

You go to the relevant estate agents to source the details of the properties that fit the requirement of the client and then present them to the clients.How are you going to present these property details to your clients, still images, video tours etc?

Have you got any agents on board with this idea?

I would think that you would be better with websites, hosted in the countries of origin, with the relevant URLS, e.g .HK, and in the language of the said countries.
Outline and offer your bespoke service on these sites and if you get any agreement with any agents, you can also offer some 'sample properties'.

I would offer your services on your websites as opposed to having a list of properties on the site, i.e. just another estate agent site.

I do think that the level of the purchase price of property in London will define the calibre of client that you will be dealing with, and this calibre of client will want a full personal service.
 
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mbd7

Free Member
Apr 11, 2013
31
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Thanks, that's pretty much it...in terms of the developments we will be looking to sell it will be prime London, so yes we're looking to generate new enquiry's, ave a conversation, ascertain their needs, and them find them a property and get paid 2% by the developer for finding them a sale

At first as I have a contact with one large London developer in the right areas who I can trust, I was thinking of just starting with them, and then taking it further from there depending upon what comes in, I expect that once we get started that developers would find us, or one advert in the London Property Gazette would probably find more stock if we needed it

We'll present the property in the same format that the developer already has set up, ie whatever "bumph" they have put together, we aren't planning on getting any dvd's made or anything where they dont have footage but its obviously easy to send them a video file where they exist, initially we wouldn't want to be incurring additional expense over and above what has already been created, so basically would be similar to a term sheet and details and then once again, we can take it from there whatever extra information they require, or if they wish to view the property

I haven't got agents on board but have a very good contact with a large London developer who I already work with in another capacity, although their stuff is currently being sold by agents through weekend releases but they only give them exclusivity first launch weekend, I wouldn't even dream of asking for this, realistically cannot be expected to push out people like Might Frank as a start up, it would be too much of a risk for them

Do you really think separate domain names are needed for different country's , I was thinking of just using the main internal .com

The issue wont be attracting agents or developers, would plan on dealing with developers rather than agents as its another mouth to feed, the key to success will be about generating the buyers

I had thought about having a property portal on the website , but might not be a bad idea to offer developers a free portal where they can put on some property's like right move, but where the enquirys come through to us to then work rather than themselves directly, and if theres no charge to them should be a bit of a no brainer?
I do think that the level of the purchase price of property in London will define the calibre of client that you will be dealing with, and this calibre of client will want a full personal service.- this isnt the idea and like you say just want to be offering the idea really, but maybe there is an angle to try and create some type of property portal at the same time ?

this is the type of draft script I have to generate the buyers for a low cost tv ad going out on some smaller Asian stations whether hopefully I can get a few good deals and start the ball rolling

this is only in draft form - once again any feedback would be appreciated, both positive and negative

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Psl

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May 4, 2010
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I do think country specific domains would be best, I think it would give the clients more comfort as the website is in the language of the country.

On the properties on your sites, I would put on some 'sample' properties of the type that may appeal to your clients.

I think you need to get away from the 'release weekend' scenario and offer a bespoke, tailored service to your clients where you visit them and build up a picture of what type of property they are looking for.

You will be taking away the clients need to contact multiple estate agents/developers in London and sift through the properties that do not meet their criteria.

You have a great offer from Ron, so take him up on it:)

Good luck.
 
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MOIC

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  • Nov 16, 2011
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    myofficeinchina.com
    Hi

    Just to give you some further insight of what we are offering:

    1 - Complete managed office to receive clients.

    2 - Trade Fair participation throughout China (and Hong Kong) in all the Premium fairs.

    3 - Target emails to all relevant prospective purchasers.

    4 - Adverts in daily & monthly publications targetted at property sales.

    5 - Complete managed sales information covering, visas, immigration services, taxes, schools and universities

    5 - All contacts forwarded to your London office.

    Subject to contract
     
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    mbd7

    Free Member
    Apr 11, 2013
    31
    1
    Thanks PSL

    is there anyone else who feels they have may have something to contribute to this thread...either positive/negative or potential working partnerships

    Still looking for someone who could convert our website into Mandarin

    things haven't progressed with Ron, and after seeming to be able to offer a lot in his 1-5/6 list, has now come back to us and suggested we come back to him once our business is up and running, and asking us for information relating to which developments we will be offering, when we have said, ( and another contributor) also said, that our marketing/website wouldnt be development specific, so he isn't really part of our plans anymore unfortunately, feels a little like we got our brains "picked" a little
     
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    Endurance Seo

    Free Member
    Jan 25, 2013
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    I have a web marketing service for companies looking to gain access into the Chinese, Indian (BRIC)economies. I am looking to put together something that will involve selling properties in London and the South East to investors in thes countries. If you want to contact me regarding this please feel free to. My website is the same as my company address.
     
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