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“International transactions are significantly different and more complex than domestic deals,” according to the NAR’s Web site, www.realtor.org, “and working with partners who know how to handle these differences can make or break the purchase or sale.”
According to the U.S. National Association of Realtors (NAR), approximately 209,000 homes in the United States were sold to resident and nonresident foreigners between April 2015 and March 2016. Foreign buyers spent more than $100 billion on U.S. homes, and realtors who dealt with international clients reported an increase of 7 percent from last year.
“Pick the best team you can,” advises Anthony Hitt, CEO of Engel & Völkers North America, an international brokerage based in Hamburg, Germany. “Sellers are wise to look for agents who are trained in the legalities and cultural traditions that come with a foreign buyer.”