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5 must-know Golden Week real estate selling tips
By Juwai, 28 December 2015
Mark down 8 February 2016, because it’s the first day of the Lunar New Year.
For international agents and brokers, this is doubly important because it marks the start of the first Golden Week for 2016 – one of two biggest opportunities for rich Chinese to property hunt abroad.
Chinese high net worth individuals (HNWIs) have been known to travel overseas and property/university hunt, all at the same time. So if you’ve been targeting this window of opportunity to market to Chinese buyers, it’s time for you to shape up now.
Shape up now, with a month and a half to go
That’s not actually a lot of time, but it is just enough for you – and your listings – to get whipped into shape in time for the Lunar New Year Golden Week.
Fly ‘n Buy Chinese investors are typically short on time when it comes to property hunting on their holidays, so it’s imperative you provide them with as much information as possible in the shortest time.
Meticulous preparation is your best weapon for your Golden Week campaign, so do your homework and plan early – it’s a no brainer. What kind of information are Chinese property buyers looking for though?
Check out nine factors we shared in the past that may impact Chinese investor decision-making. If you’ve read that, you have a good start on how to best position your listings to appeal to Chinese buyers.
Map out your Golden Week real estate strategy
That said, here are a few more tips for marketing to Chinese during Golden Week:
#1 Start early
Chinese buyers are savvy investors who actively research online before deciding on a destination, as well as who to contact upon arrival. Having your listings updated and ready for online perusal early is not just important, it's imperative – Chinese buyer property searches on Juwai.com can surge as much as 66% in the weeks preceding Golden Week.
#2 Think Chinese
Chinese property hunters come from a very different culture with differing perspectives. This makes them very unlike your local buyers, so rethink the content on your listings and marketing materials. Does the copy appeal to a Chinese buyer's mindset? Does it feature nearby attractions and conveniences? These are but some of the aspects you need to reevaluate ahead of time.
#3 Do the legwork
Let's face it, a lot of pertinent information can only be discovered upon arrival. This is where you could offer invaluable assistance, such as breaking down the ROI for them, or summarising important information regarding immigration, financial, tax, and legal systems in your country. Such initiatives are time consuming, but could pay off very well indeed.
#4 Put them at ease
What can you do to help make them feel more comfortable investing in a foreign city? Consider offering the services of a Chinese interpreter, or be their personal tour guide around the city so they could better understand the lifestyle offered. Most importantly, listen to what they want in a property, answer questions patiently, and give them time and space to decide – this helps instill trust and confidence in you as their agent.
#5 Keep in touch
As with most international clients, some Chinese buyers need more time. However, even if they don't immediately close the deal, there’s no harm in getting in touch after they’ve left your country, such as sending them potential properties of interest via WeChat regularly or sincere wishes for the holidays.
Good luck, agents!
Now that we’ve shared the above golden tips, we hope you now have a deeper understanding when it comes to formulating your Golden Week strategy.
Good luck, and may the best agent win!