How does a nationally known real estate powerhouse make it through today’s struggling housing market? Why not attract buyers from China, India and England?
Lynn Adler, a reporter with the Reuters News Service, wrote in a recent story that officials with Century 21 Real Estate during their firm’s recent global meeting in the Morrocan city of Marrakech urged Realtors to market to buyers from foreign countries. The hope is that these buyers, whose buying power has increased thanks to the sinking value of the U.S. dollar, are interested in purchasing real estate in the United Says.
Thomas Kunz, chief executive officer of Parsippany, N.J.-based Century 21 Real Estate, was quoted in the story as saying, “Bring the money in.”
I wrote earlier this month about real estate firm Keller Williams creating its own program to help real estate agents develop the skills needed to survive the current housing slump. Century 21’s efforts to reach out to foreign buyers is another example of a real estate firm taking a proactive approach to working through the down market.
Will it work? I don’t know. But at least Century 21 is trying.
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