Thu09202018

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Market Your Property To Russians

Are you thinking of selling your Bulgarian property to Russian buyers, or do you want your agent to market your house to Russians?

No wonder, in today's market everyone would like to sell to them. They have a growing economy and an increasing middle class, Moscow is reported to have one of the highest populations of millionaires living there.

Over the past few years Russians have invested over 700 Million Euros into Bulgarian property.

Some reasons maybe due to the close links with lifestyle for both countries including religion, culture, language and close ties during the communist times - so therefore making Bulgaria a top choice for Russian buyers in today's property market.
All the talk of Russians buying in Bulgaria is easy but you need to understand how to sell to the Russians if you want to achieve a sale.


These are Quest Bulgaria's top ten tips:

1. Time
It takes considerable time to build relationships in Russia, which can make it much harder to be successful than estate agents. There is a phrase in most countries, which is little by little, something that a lot of British and Americans do not seem to understand. However, once those first few sales are made, then word of mouth soon gets round, particularly as Russians tend to purchase near to their friends, family and colleagues.

2. Contacts
Contacts and recommendations from others are critical, much more so than in western European countries. You need to start spreading the word that you are in the Russian marketplace and show them you have integrity.

3. Language
Your website or web page must be in Russian. Try to get someone in the office who can speak the language. If you can't afford to hire someone, then at least get a registered Russian translator to assist you.

4. Price
Russians are buying Bulgarian property for the status of owning an overseas property. They will not buy the cheapest because they prefer something better than their friends or neighbours. They frequently do not endeavour to negotiate the price.

5. Mentality
Russians go with their feelings and desire for prestige. It is important to highlight any particular features which will offer prestige or fulfil their aspirations.

6. Security
The Russians like their property to be ultra-safe. Bring to their attention any security measures you have in place and emphasise how safe and secure your property is.

7. Business conduct
The Russians are quite fanatical about dealing with people on their own level or higher. Even if you have a Russian speaker working in your office, don't leave the dealings with the Russians to them, Russians will feel snubbed if you leave discussions to what they percieve as "an office junior"; ensure you are there in all meetings.

8. Scams
Not unlike Bulgarians, Russians are very well aware of scams and are more than sceptical. So, you have to make sure you are open and transparent. Business dealings are very direct and people come to the point quickly without superfluous words or sales talk.

9. Smart
The Russian business dress code us 'up' rather than 'down', on the side of caution. If you decide on a dress-down code, then they may look at you as if you are not worth doing business with.

10. Alcohol
If the Russians have a drink, whether you are a drinker or not, do join in - they are likely to be offended if you don't. The only way to avoid this is to have a seriously good reason why you cannot have a drink.