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Quote of the Week: 'Guanxi' crucial with Chinese buyers

By Juwai, 03 November 2013

"Chinese individuals tend to emphasise trusted relationships or ‘guanxi’ in making property investments."

Georg Chmiel, CEO of LJ Hooker

'Guanxi', which means 'relationship', is similar to the idea of social capital and can often be considered as the Chinese equivalent to what we usually call 'business networking'. In China, 'guanxi' is crucial to having a successful business.

Recognising the significance of 'guanxi' for the Chinese, LJ Hooker swung into action and has now appointed a Shanghai-based concierge in partnership with Juwai.com to act as a conduit between Chinese property investors and vendors from both Australia and New Zealand.

“Chinese individuals tend to emphasise trusted relationships or ‘guanxi’ in making property investments. Having a Shanghai-based Chinese national to help our LJ Hooker agents will enable them to more effectively build these relationships,” said Georg Chmiel, CEO of LJ Hooker.

Read the full article here to find out more on how the personal concierge would impact on sales for the Australian and New Zealand vendors.