At the Silicon Valley Association of Realtors, a panel of international Realtors stressed culture is important when working with clients from other countries. Panelists at the program hosted by the local trade association's Global Business Council included Catherine Hendricks, with Keller Williams Realty - Palo Alto, from France; Terence Leary, with Alain Pinel Realtors Los Gatos, a native of Great Britain; Moise Nahouraii, real estate broker and owner of Referral Realty – Cupertino, Iran; and Atsuko Yube, real estate broker Global Real Estate Link, Inc. of Silicon Valley, Japan.
The foreign-born Realtors who have lived in the U.S. long enough to be well-assimilated into the American culture, noted one common trait that all clients value, regardless of their nationality, is trust. One way to build trust is to establish credibility by making sure your data and facts are correct. According to Yube, Japanese clients are very analytical, they read everything and scrutinize the data, so it is important to be prepared. Clients from Iran will verify all the information an agent gives them. If your information is inaccurate, you are bound to lose the client, said Nahouraii.
Building trust also means knowing the dos and don'ts of the client's culture. Leary said privacy is very important to the British and most Europeans, so don't expect to hear a voicemail greeting with your client's name when you call them. Also, the British are formal and business-like; they don't hug. Although British and Americans speak English, in order to prevent any misunderstanding, avoid using American slang, advised Leary.
Yube said Japanese clients do not hug. They shake hands or bow. They are formal and will always smile and nod, but "yes doesn't always mean yes," said Yube.
Hendricks said the French like to ease into business – have some wine, lunch, engage in rapport before discussing business. The French also don't hug; instead, they kiss. Like the British, the French are very private, especially with their finances, so they prefer to exclude the agent when they meet with the lender.
There is a general impression that most foreign buyers in Silicon Valley are Asian. Not so, according to Hendricks, Nahouraii and Leary. Hendricks said there are about 80,000 French immigrants in the San Francisco Bay Area and French schools are located in San Francisco, Palo Alto, Sunnyvale, Berkeley, Sausalito and Oakland. Leary said many Brits live in the Santa Cruz area because they like a countryside setting. Nahouraii said Persians prefer living close to convenience stores, shopping centers, a golf course, theaters and other cultural activities. Good school districts are important to all families.
Real estate is practiced differently in their countries. They have no MLS, no real estate licensing system, no title insurance, escrow and disclosures. Listings are open.
They stressed it is very important for agents to sit down with the client and explain the real estate transaction process. Leary said many foreigners are pleasantly surprised when they learn about a Realtor's professionalism and fiduciary duty to their client and the efficiency at which a real estate transaction can be completed in the U.S.
"As Realtors it is our goal to help everyone obtain that dream of homeownership, regardless of race, creed or color," said Mark Wong, chair of the Global Business Council. Wong, an agent with Alain Pinel Realtors Saratoga, is originally from Hong Kong. "Learning about the customs and nuances of different cultures and how real estate is practiced in other countries can help us become more successful in interacting with other agents, home buyers and sellers."
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
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