Real Estate Translation Services
Commercial and residential real estate translations help boost sales. The American dream of owning a home is now attainable to non-english speakers. With middle and upper classes growing across the world, money is no longer the main barrier- it’s language. If you’re a realtor or work at a financial institution offering Real Estate Investment Trusts (REITS), real estate translation services can help you reach a greater audience and substantially increase your sales.
The rise of Foreign Real Estate Buyers
All across the globe, we have seen a massive increase of individuals and families who are independently wealthy. For example take China, where GDP has averaged almost 10% for the last 20 years. This has led to many Chinese citizens investing a portion of their net worth beyond the great wall, mostly into homes in America and Canada. A portion of the recent housing boom over the past few years is a result of these new investors. Some of them simply buy to have a safe haven for their equity, whereas others are looking to establish a foothold into the American lifestyle and community for either them or their next of kin.
When visiting Southern California recently, we had a chance to meet with a real estate firm that focuses exclusively on Chinese nationals looking to buy in America. When discussing their challenges, their main issue was these potential buyers speak little to no English. This highly complicates the process and the firm has many bilingual agents to make interpreting easier. But one thing they did not have was a relationship with a translation agency who can help with the real estate translation process.
Real Estate Documents Requiring Translation
Getting the proper information to buyers is key. Think about a standard home listing with photos, a description of the home, the neighborhood, and sales terms. As we’ve discussed before in previous articles, machine translations won’t necessarily work in this scenario because terms for “living room” “patio” “pergola” all have different words depending on the region in which you are located. This is one reason why using native translators who understand real estate terms is essential. One of our main points of pride at TSI is we only hire native translators who have localized experience for the target language and industry alike.
Other documents that require translation go beyond real estate sales and marketing materials. Once a buyer is interested in making an offer, the process of submitting said offer with applicable bank documents, loan approvals and proof of funds is a whole other challenge - it’s difficult enough processing this as a native English speaker, so just imagine how difficult it would be with little to no understanding of English! Bilingual real estate agents can do in-person interpreting, but when dealing with legal documents, it’s extremely important to get terms perfectly correct. We have a select group of translators who specialize in real estate related subjects.
Commercial Real Estate Translations
It’s not just potential homeowners looking to buy in to the American dream - commercial real estate has seen a surge as a result of international economic growth. The beauty of a healthy global economy, is that the benefits go both ways. For example, we’ve helped companies based in Singapore open offices in America. They counted on TSI to translate legal contracts to help close the deal. And more commonly, we’ve seen clients of ours expand their business beyond America and open offices overseas. As one would expect, this required a great deal of assistance when purchasing offices abroad.
Whether commercial real estate translations or residential, TSI has the experience to ensure your deal isn’t botched due to miscommunication. Contact us for information on your next translation project, or just drop us a line to get added to our mailing list for discounts and deals on translation services.
Francis Semmens is the founder of TSI and author of all blog posts with a focus on translation for clients and translators alike.