Expand Your Sphere: Start Locally to Build Globally
Look to your local connections for referrals that open doors to international real estate business.
Tampa-based Aminta Goynes never imagined she would establish herself in a global market niche, much less become a partner with a real estate company in Dubai.
“It all started with a referral from a local client,” says Goynes, a Florida Realtors® Board Certified Professional with The Goynes Group, Coldwell Banker Realty. “They connected me with a buyer from Ghana who had dual citizenship and wanted to invest in property in Florida. I helped them, and they were so pleased with the level of service that they referred their sister, friends from other countries and a couple of clients from Nigeria who purchased property here as well.”
Since then, she has received a steady stream of international referrals.
“My clients in the Tampa Bay market, from veterans to locals who travel abroad, consistently refer international clients to me,” Goynes says. “These referrals aren’t from a website or social media but purely through word of mouth. Some live in other countries and want to purchase for the first time here, and others have already purchased here but want a better or different experience.”
The momentum has been so strong that Goynes hasn’t had to put much effort into a formal international marketing campaign.
“I consider myself fortunate that my referral base is the underpinning of my international business, and it continues to reward me,” she says, noting that her local civic engagement has also helped her unlock global opportunities. “I always say to start local because you might find an international opportunity within your local network. I’ve served in several capacities with local charities here in the Tampa Bay area, and it has led to meeting people who refer their friends, family, coworkers and colleagues.”
Last year, an opportunity arose for Goynes to become part of an overseas brokerage. There were a few countries from which to choose, she says, but she believed Dubai, a city and an emirate within the United Arab Emirates (UAE) known as the “city of opportunities,” was the clear choice due to its strong economy and welcoming business environment.
“I have quite a few investor clients and Dubai, with no income tax or capital gains tax, makes it an exceptionally attractive market,” she says, adding that she encourages those eyeing Dubai to seize the opportunity.
“As of early 2023, I am the owner and partner of an international brokerage called Global Opportunities Real Estate headquartered in Dubai. An extensive amount of groundwork and planning went into this; it was a couple of years in the making.” Her primary role with the brokerage is to facilitate transactions for U.S.-based clients who want to purchase in the Dubai market or buyers there who want to purchase property in the States.
Here’s her strategy:
Common Mistakes Global Buyers Make — and How to Fix Them
1. Align with experts
Doing international business requires having the right team in place, Goynes says. “I don’t advise going it alone because there are so many [complexities] involved that you could jeopardize your business, your name or reputation. It’s best to start by partnering with groups, individuals and fellow Realtors® who are already conducting business in other countries because you can collaborate with them to build your international business pipeline.”
Her Dubai brokerage is staffed with a team of multicultural and multilingual professionals who cater to the specific needs of overseas clients and ensure they receive personalized service.
She has also honed her expertise by earning the Certified International Property Specialist (CIPS) designation and the Global Real Estate Practitioner (GREP) certification, and she has served on the National Association of Realtors® Global Business and Alliances Committee.
2. Respect cultural differences
Goynes stresses the importance of honoring the communication styles, business protocols, traditions and mores of the specific culture you’re working with. “I tell fellow agents to follow the customs,” she says. Although hijabs are customary for women in Dubai, wearing them is not mandatory. “It shows a high level of respect if you do wear it though,” she says. “Even when my overseas clients are visiting and buying here in the States, I show respect for their culture and how they do things.”
The formal exchange of business cards is important to Japanese clients, for example, and clients from China prefer to establish relationships before a transaction takes place. Maintaining a high level of transparency is critically important because it builds trust and bridges cultural gaps. “If you speak the language of the country you’re wanting to do business in, that’s even better,” says Goynes, who is bilingual in English and Spanish. “You don’t have to be fluent because there are interpreter services available.”
3. Understand market insights
Do thorough research about your target overseas market. “If you aren’t the expert about the country, collaborate with those who are,” Goynes says. Her brokerage recently closed on a property in Dubai for a client who resides in Florida. “There are better investment opportunities in Dubai than in some places in the States, and there’s a price point for everyone who wants to purchase there,” she says. “Our brokerage is doing new construction and newer existing sales, which are mostly going to be luxury high rises. My website, amintagoynes.com, and my Global Opportunities company website [gogrouprealestate.com] are helpful for individuals who want to discover opportunities in Dubai.” Her Dubai brokerage also launched the Global Opportunities Real Estate Facebook page and @gogrouprealestate on Instagram.
4. Get techy
Goynes relies heavily on technology to help her stay connected with global clients. “Tools like WhatsApp make communicating across borders almost effortless,” she says, adding that she can text, have real-time audio and video calls, share property videos and promptly address queries. “That’s been very helpful to me.” She recommends finding out which form of communication is most convenient for your clients and following suit. “Communication has to be constant and on par with the different time zones,” she adds. “This helps clients stay fully informed and comfortable throughout the transaction.” She also does webinars and live tours. “When I get inquiries from prospective buyers, I invite them to a discovery webinar so they can see what the market looks like and the opportunities available. I follow up with a meeting for a deeper dive on what they want and put together a road map for getting them started.”
Goynes will be traveling to Dubai for the first time this spring. “I’m excited to put my boots on the ground there and meet with the team,” she says. For future business, her sights are set on Tanzania, Anguilla and Jamaica. “I haven’t delved into those places yet, but I’m having conversations and looking at completing some projects there,” she says.
Leslie C. Stone is a Vero Beach-based freelance writer.