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Real estate agents get more questions about immigration

By Juwai, 07 November 2013
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If you are working with property buyers from other countries, chances are you have already studied up on your country's immigration law.

If so, that knowledge has probably helped you work with an overseas buyer and close a sale. Many wealthy real estate buyers from overseas also want to emigrate.

The majority (57%) of rich Chinese, reports the Economist, have contemplated emigration. Meanwhile, 6% of China’s wealthy have already signed up for foreign citizenship, reports Wei Gu of the Wall Street Journal.

An Australian real estate agent who recently exhibited with Juwai Event Services at a property expo in Shanghai, China got more questions than he expected about visas.

"There were people looking at investing over here and others looking at migrating," Alexander Stevenson, Investment Specialist with LJ Hooker Sunnybank Hills in Brisbane, Australia, told Juwai.com. "The buyers looking at emigration had so many more questions than we expected. They wanted to know about immigration, tax, schools, and so on."

At the expo in China – Stevenson's first – he generated one offer, 50 registration of interest by buyers, 10 qualified prospects, and the likelihood of 2 or 3 additional sales in short order. "We will definitely go back," he said, "because the market potential is incredible.”

Chinese emigrate more than citizens of any other country. In 2011 alone, 150,000 Chinese got visas to emigrate to other countries.

In the US, "If you want to focus on that international segment, people will ask you about immigration," Jim Park, Chairman of the Asian Real Estate Association of America, told an audience at Inman's Real Estate Connect 2013 Conference.

"You can lose a client by not knowing how to respond to tax issues, immigration."

 

 

Related Links:

The visa run

EU eyes flexible visa rules for China tourists

Significant visa applications dominated by Chinese investors eyeing NSW and Victoria

 

[Image source: US Passport by Christopher Rose on Flickr.com]