I got an interesting call yesterday from a buyer who is bringing 30 other investors on a tour of Los Angeles, San Francisco and Hawaii. She wanted an agent who could add her on WeChat and give her an overview of the market.
I called some agents who I thought were preparing to handle Chinese buyers and guess what…? Not ONE of them was ready for a Mandarin speaking buyer! I was shocked. They were ready for many things but basic communication somehow got overlooked. I know this is a sticky topic and most readers do not speak Mandarin. Does that mean they cannot help her? Luckily not necessarily. But in this case, they just were not ready.
Preparation is the key to serving Chinese real estate buyers. Chinese investors can be divided into a few key categories. Chinese buying real estate for education. Chinese families buying a home abroad for immigration purposes. Chinese business people investing in infrastructure to support their current business.
A good example of Chinese business people investing abroad is an exporter who feels that now is the time to purchase a warehouse in order to service his company storage needs abroad. Of a Chinese retailer looking to buy commercial properties abroad. Or perhaps a wealthy Chinese business owner looking for a plum property to display his status to other potential business partners abroad.
There are a variety of Chinese buyers and the more you know about Chinese investing in Los Angeles, for example, the more you will sell. It’s that simple. One thing is for sure. Most Chinese buyers in New York, Chinese investors in Sydney, buyers from China in Seattle have slightly or significantly different priorities from local real estate investors.
I can’t give you specifics for your area unless you optin to the course but can tell you this, knowing how you are viewed and why Chinese are buying in your area is one of the keys to success selling to HNWI Chinese investors.
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