It’s a sellers market in many areas so why should you target Chinese buyers? Why do through the hassle if there are already multiple bids on each property? What’s the benefit to you the agent and to the seller in a hot market? In short, Chinese clients give you the speed and ability to win a bidding war.
1. First, find out what Chinese want. “Listen to What do Chinese want” podcast to get an idea of the types of areas, schools, designs, neighbours, size, number of rooms and most importantly why they want those types of house. After you know what the majority of Chinese want in your area. If you are a China Cash Buyers member, listen to the “Renegade Research module” so you can research your specific area for Chinese buying behaviour. How to write a listing that attracts Chinese buyers. Then after you know what Chinese want…
2. Make a one page ‘cheat sheet” with notes to show sellers why your clients are interested in their house. Perhaps show them, if it’s in a good school district, how many Chinese families with young children value the house higher than local buyers. Show them that you did your homework. And that you are the gateway to these buyers.
3. Show how you will market their property to Chinese buyers. The social media you use, show them your wechat network. The people on your network. Again China Cash buyers members should pay special attention to the Chinese Social Media Module.
4. Speed Talk about your clientele. How they think. How fast they move. Give them a history lesson on Chinese in your area. How they are moving in. What they are thinking. Give them a lay of the landscape and how it will affect them. Make it abundantly clear that you are the expert on Chinese in your area.
5. Do a bit of research on Chinese buyers in your area. How much they buy and explain it to the seller. Talk about your clients.
6. Chinese win the bidding wars. In Australia some buyers leave when they see an abundance of Chinese bidding because they know their buyers are limited by what the property is valued at by the bank. Cash buyers are not. It’s up to them and their need/tastes. Not some anonymous bank employee. Explain a bit about the difference between cash buyers and those looking for a mortgage. The length of time it takes to get approved. A cash buyer can quickly up their bid. They can pay more than the property is valued at if they want it. I’m not saying that every Chinese buyer will do that but it’s important for them to know that they are able to do that if they want the property. That will eliminate waiting and wishing. And often win the bidding war.
This is just a short summary of the benefits of working with wealthy Chinese buyers. For China Cash Buyer members, listen to the “Getting Listings Module” for in depth explanations and further methods and tactics for winning the bidding wars in a sellers market. To optin to our full course and start reaping the benefits of both having a great clientele and being the agent with the listings wealthy Chinese investors want, click here. http://www.chinacashbuyers.com/special/welcome.html
