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zoog
12-17-07, 08:40 PM
Realizing everyone in America is broke, Century 21 focuses on marketing to foreigners (http://www.reuters.com/article/gc06/idUSN0447085520071212).


NEW YORK (Reuters) - Century 21, the large U.S.-based real estate company, is looking to entice people from as far away as China into buying homes in the United States.

At a recent global franchise meeting in the Morrocan city of Marrakech, a push was made to boost U.S. home sales to foreigners with buying power swelled by a sinking dollar.

"Bring the money in," said Thomas Kunz, chief executive officer of Century 21 Real Estate in Parsippany, New Jersey, noting that many Europeans have a 45 percent discount on U.S. goods due to the strength of the euro against the dollar. "This is a marketplace that we need to really investigate," he told Reuters.

Century 21 is focused abroad and on broad education campaigns to draw domestic and international buyers to a record stockpile of unsold U.S. homes that has slammed prices.

"We've decided we're not going to participate in this pity party," Kunz said. "We're going to go out and educate our agents and managers, we're going to go out and help them educate the consumers that this is a buyable market."You just have to educate people that this is a buyable market, you see. They're not buying because they don't realize it, that's all.

dbarberic
12-18-07, 08:09 PM
A 45% discounts gets them to what..... 2001 prices?

Its not even a good deal yet for foreigners; not enough blood in the streets.