Navigating the Global Property Market: The Truth Behind International Property Portals
In the evolving world of global property listings, a stark reality surfaces, unveiling the challenges faced by today’s market.
The lack of regulation on Global Property Portals leads to listings appearing multiple times at different prices, raising questions about their effectiveness for both buyers and sellers.
My early advocacy for watermarking property imagery to combat image misuse on these platforms, initially met with resistance from local agents, has now become an international standard practice although not written in law.
However, the challenge has evolved. Properties are still over-listed, causing massive confusion for buyers and to the security for sellers. The practice of spreading listings across multiple agents and platforms is an old-fashioned tactic for Estate Agents that is just no longer sustainable, it is ostensibly for market penetration, often leading to buyer misdirection, resulting in confusion and disproportionately benefiting Agents, in my view. Is the property being promoted even for sale? I’d argue to say that every single one of us has experienced such practices.
With over two decades of industry experience, I’ve observed that only a select few international portals truly deliver high-end enquiries. Yet, many of these portals now employ a pay-for-placement trend, distorting market representation and disadvantaging independent agents.
As costs soar, this trend disproportionately benefits those with deep pockets, but do these companies actually deliver the level of service expected by clients once the enquiry is received? The amount of times I have asked for a trial is usually rebuffed, and agents get locked into lengthy contracts with no results usually through peer pressure.
This trend of ‘cost per position’ has now spawned a new breed of ‘property portal’ based solely on social media, introducing a whole new range of complexities and reform.
The solution, in my view, lies beyond quick fixes. Effective property buying and selling requires patience, strategic planning, and a blend of traditional and innovative marketing approaches, the traditional Estate Agent now needs to have a high level of marketing prowess.
We are currently in the midst of the most dramatic shift in property marketing, where trust and collaboration are paramount.
I have now rebranded myself as a Global Property Advisor, for years I debated how to pitch myself, an Estate Agent, a Buyers Advisor or a Property Finder, but in my role I am not only a representative for a buyer but also a seller, I am a Collaborator, a Mediator, and a Marketer of properties around the world.
So why use a Global Property Advisor?
Besides the reasons I have provided above, the answer is simple: for the same reason you would use an Advisor for mortgage, Travel, Tax, Insurance, or general Financial Guidance.
Investing in global luxury property, be it for a second home, relocation, or retirement overseas, is a financial commitment, probably one of the biggest you’d ever make and a massive lifestyle shift for you.
The real estate market demands a more creative, patient, and strategic approach through collaboration.
I advocate for a shift from the ‘post-and-hope’ strategy commonly used by Estate Agents to a more innovative, multi-faceted approach. As we step into 2024, I urge Buyers and Sellers of luxury overseas homes to seek a trusted Global Property Advisor.
Join me in streamlining your property search or selling your luxury or super prime property. I’m committed to transparency, simplicity, mediation, trust, and most importantly, collaboration.
If you are currently speaking to someone who is not prepared to collaborate, there is a reason for that. This is the world we live in today. My goal is to fulfil your goals in helping to buy or sell your overseas property.
That is my view, and it is really that simple.
Looking forward to an objective fulfilling 2024.
All the best,
Serge
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