BrokerageIndustry News

Fewer agents see foreign buyers

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The global recession and credit crunch are taking a toll on Realtor deals with foreign buyers, even as competition heats up between a growing segment of agents and brokers who specialize in working with these buyers.Fewer than one in four Realtors (22.5 percent) surveyed by the National Association of Realtors in the group's latest annual study reported having at least one international client in the year ending May 2009. That's down from 32 percent in NAR's first survey gauging activity by international homebuyers, conducted in 2007, and 26.2 percent in last year's survey.An even smaller group of Realtors -- 11.8 percent -- reported a successful transaction involving a foreign buyer in the last 12 months, down from 18 percent of those surveyed in 2007 and 13.3 percent last year.While the number of Realtors working with and completing transactions for international buyers has declined in recent years, the percentage of Realtors who say foreign buyers make up more than half of their bus...