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Por Favor, Estadistica

April 22, 2008

You know what I’d love to see when international real estate companies make grand pronouncements about globalization and its effects on local real estate? Numbers.

Joel Burslem profiled REA Group over at FOREM, and this passage jumped out at me:

Bottom line however, his [Simon Baker, CEO of REA Group] advice to agents to begin think of the local market as really being international in scope these days, as more and more consumers around the world are moving online to research real estate and looking at properties in other countries. To that end, there are all kinds of marketing and online advertising tools (including those offered by REA Group, natch) you can use to reach out to potential buyers beyond US borders.

‘ey Simon… d’ya think you could maybe define that “more and more” term a wee bit?

I mean, are we talking about a steady increase from three Singaporeans to four Singaporeans over the course of a year? Or are we talking about millions of international buyers here?

When you advise agents to utilize “all kinds of marketing and advertising tools” to reach out to these international folks of mystery, got any kind of a market size estadistica handy?

It’s hard to know whether American real estate companies should be investing hundreds of millions or like fifteen bucks to the “international” market without some idea of what ‘more and more’ means, y’know what I’m sayin’, homie?

-rsh

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3 Comments leave one →
  1. April 24, 2008 10:53 pm

    Hi

    I am glad you asked. I am more than happy to talk about traffic from outside a country into a country.

    Depending on a country and the portal, there are different percentages of traffic coming from outside of the country.

    For example, around 12% of the traffic to our Australian site (www.realestate.com.au) comes from outside of Australia. For our UK site (www.propertyfinder.com) around 15% of the traffic comes from outside of the UK. It gets even more pronounced for our site in the UAE (www.propertyfinder.ae) where around 70% of the traffic is from ourside of the emirates (not surprising really).

    Now our total network of sites have 9.4m UB’s per month.

    Anaedotally we hear that in some segments of the US market, 10% of the buyers are coming from overseas – perhaps these are people looking for a great deal.

    As you can see, i am more than happy to provide numbers – all you have to do is ask.

    Thanks

    Simon Baker

  2. April 25, 2008 9:57 am

    This is a great start, Simon. Thank you very much. 🙂

    I’m going to have more to say about this.

    -rsh

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  1. Metrics of International Real Estate Business « The Notorious R.O.B.

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