Few companies have been successful with Chinese buyers. We work Chinese property investors and help them to connect with real estate businesses. We provide a strategic entry point to some of the best Chinese portals that are important for investors and also provide instructions on maintaining control over discussions. There was a 60 percent increase last year in foreign applications to purchase Australian residential property as well as an amazing increase in the value of approved applications by 75 per cent. According to a report by the Foreign Investment Review Board (FIRB) mostly this investment has been done by Chinese property investors. In spite of a number of limitations that were placed on foreign real estate investment which also affected the economy of China, still the buyer markets remained strong and active. According to the statement from South Australia’s regional government the; ‘Chinese are still investing and buying property in Australia despite the situation of the economy in the last 6 months’.
Many Real estate companies are working in conjunction with chinese partners . Damac, the largest agency in Dubai have been named as the number one sales agent by the state interested in Chinese market. Behind the success of big agencies like Damac in Dubai, or Chinese Giant ‘Wanda’ there lies considerable and intelligent digital efforts resulting in business expansion to accurately targeted investors.
We are going to discuss the top 5 tips for working with Chinese property investors
Speak Mandarin or have a Chinese native speaker for the sales
One of the helpful tips Benji (our expert Real estate Marketer) shared was that along with his team of lawyers, transport managers and business advisors he always took a close translator with him wherever he travels. He added that we can’t rely on the translator of the opposite party with whom we are making a deal. He said it is not scary to make a deal in fact it is scarier to sit in a room where you simply don’t know what is being said. Therefore he advised to take your personal translator because of trust issues, one can’t trust what deal is going to be done with our partner until we are honestly told what other party said. We can hire a Chinese translator but this does not result in the same level of trust.
Advertising to get Leads
In China, expert believes that it is necessary to catch leads uniquely and convert them in relation to the Chinese market. It is unnecessary to approach costly Chinese conferences or exhibitions… you have smartest way to catch overseas Chinese investors. Digital advertising in China is the most effective method, you need to have an online presence, buy online ads, be on social media. Advertising on Juwai in combination with the real-estate portals in China in order to develop the right relationships. It is not cheaper, really… but buyers are usually bigger.
Try to understand cultural differences
If you rely on interpreters to carry out communications with the Chinese then you are advised to ask about the ways of communication that are culturally sensitive. This can be done just by paying attention, come across in the most respectful way. As we know the language that is used by the Chinese more frequently we can assist in your client relations. Always take off your shoes in someone’s home and know which member of the family you have to address, this is the case with formal communication too. You can make your communication culturally sensitive by observing critical points.
Don’t underestimate trust (ereputation)
Trust plays a vital role in doing business with Chinese property investors, if you do something that is not transparent or is questionable then you might be at risk of being blacklisted. Business deals need trust to be accomplished. To instil this you can attend New Year festivities or other community event for better understanding. If you break their trust they will never work with you as Chinese investors want clear and fair communication.
Develop an online strategy to attract buyers:
There are different strategies to attract buyers for property sale. One of the most convenient strategies is to develop a good presence on Baidu, the largest Chinese search engine, this is how you attract Chinese, international buyers. It’s better to develop a positive presence on your website for good business in property dealing, buyers will remember you and good design with a Chinese url inspires trust.
Customer Service is a must if you want to realize a good lead generation campaign.