Recent data suggest the Russian buyers market for international real estate is valued at more than €12 billion and property management firms and developers in key urban centers around the world are curious as to how to better attract investment. Industry insiders plan to reveal the secrets to marketing to this group of investors at Russian Summit 2011, to be held in Moscow in October. One tip unveiled is that Russians prefer to be courted in person when it comes to foreign transactions and knowing Russian culture will give sellers an edge. Also important is realizing what Russians seek, including properties in milder climates that are well away from the frigid temperatures of the Asian plains. For more on this continue reading the following article from Property Wire.
Forging a strong relationship with Russian real estate agents lies at the heart of selling to a group of cash rich buyers who are eager to buy properties all over the world and especially in locations like London, Paris and New York, it is claimed.
Industry heavyweights Knight Frank and Intermark Savills will reveal the secrets of selling to the Russians at the Russian Summit 2011 in Moscow next month.
With the recovery of the global property industry making slow progress, the Russian buyer is at the top of many developers and agent’s wish lists. The buyer market is estimated to be worth in excess of €12 billion.
Russia’s recent economic success combined with cold weather and an environment that is not always kind to business owners has created a strong desire to purchase real estate abroad. Already some shrewd international agents such as UK based Barton Wyatt or Montenegro Living, have identified the appeal of this buyer market, establishing networks and actively targeting Russian and CIS buyers.
‘Russia is different. It is a great market but you need to work at it and there is no substitute for face to face contact. That’s true in any business but it’s especially true in Russia where personal relationships really make a difference,’ said Kim Waddoup, co-organizer of Russian Summit and director of aigroup, the main internet sponsor of the event, who has lived in Russia for 20 years.
Forging these strong relationships with Russian agents is a key element of this year’s summit at the World Trade Centre Moscow which starts on 17 November 2011. It is the only conference and exhibition dedicated to helping international property companies meet real estate agents from Russia and the CIS.
Comprising two sections, a conference and mini exhibition, the conference is designed to educate and inform delegates on the Russian buyer market while the exhibition facilitates introductions to Russian agents and introducers.
speakers this year include Maria Kotova, executive director at Knight Frank Russia and Igor Indrikson, head of international property investments at Intermark Savills.
The presentations and specialist’s panel discussions will cover a wide range of subjects including which products are most in demand from Russian buyers, practical tips from international agents and developers on how to enter the Russian buyer market at minimum cost and who the most important agents are in the Russian market.
It will also look at the best way to acquire and manage agent partnerships over the long term, the most cost effective ways to target Russian buyers direct, tips on using Yandex, Google.ru and other online channels and insights into which offline channels work and the promotions that motivate Russian buyers.
This article was republished with permission from Property Wire.