After living and building business’s in China for many years,
I would like to share my experience in making deals happen with
Chinese clients and shed some important light on the the finer details
of the culture, the beliefs with some real honest truths on how
China cash buyers may make decisions when
buying real estate in North America.
Many agents have unfortunately grouped the buyers as one.
Chinese cash buyers are all different; Chinese immigrants,
long-term residents, American born (ABC’s), and buyers
from Taiwan, Macau or Hong Kong. To some degree
their degree of wealth will factor in what needs
they have as well.
Keep in mind the varying degrees and ability to converse in English,
which may range from nonexistent all the way up to native level.
Another mistake is that agents or sellers make is to misunderstand that,
the way a Taiwanese buyer, a Hong Kong buyer, a Mainland Chinese buyer,
or Singaporean, all negotiate properties differently and have different needs…
Too much emphasis is made about the number 8,
the unlucky number 4, auspicious colors, Feng Shue,
and the ability to say basic greetings in Mandarin Chinese
as being seen as someone knowledgeable about the
different types of China cash buyers.
Those things are only scratching the surface, so to speak, and quite superficial.
With that said, here are some important,
yet still, generalizations that one must
keep in mind are:
1. Brick homes are valued a lot.
2. Swimming pools are not important.
3. They like level, clear land and not so big on trees.
4. The prefer low maintenance land, yard work is not a hobby.
5. Street level entrances are not liked, something on the high side.
6. Like newer homes vs. old ones. Heritage buildings are not appealing.
7. Location is important, close to a prestigious school, not a corner lot or on a cul de sac.
8. Feng shue does matter a bit, like being able to see right through
the back door through to the front is not appealing, either.
9.They want to build a relationship with the agent that gets them the best deal, regardless of ethnic background.