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Three quick tips to win Chinese property buyers
By Juwai, 09 October 2018
Chinese property buyers and investors are among the most coveted by property developers and real estate agents around the world. Getting inside the mind of a typical Chinese property buyer will help you to understand how they operate when looking to buy or invest in overseas property.
Carrying on the growing trend of Chinese spending overseas, last year continued to break property purchase records.Spending on international properties reached US$119.7 billion for the year, up 18.1% year-on-year. Chinese buyers are a demographic you cannot ignore, but if you're new to marketing to China where do you start?
Here are three short and simple tips to help you, as a real estate agent or property developer, understand the mindset of a Chinese property buyer, and ultimately achieve more sales.
Let’s start with word-of-mouth, which is by far the most important marketing asset when dealing with Chinese property buyers. Getting everything right in your transaction with just one Chinese property buyer means he or she could recommend your company to many colleagues and friends. That viral marketing will be more valuable than anything you can buy. But, get things wrong and the same applies. Jumping into the Chinese market without an experienced partner, or without doing proper research, could ending up costing you more than just money.
The Great China Firewall
Do not believe that building a Chinese language website will automatically drive sales to your business. Many organisations are spending vast amounts of money developing Mandarin websites and employing staff in the expectation that getting to the top of Google will bring Chinese property buyers to their door. Many of these flash, expensive websites aren’t accessible from mainland China, so it goes without saying that makes them completely invisible inside China.
Motives for buying
You need to understand what motives are driving Chinese property buyers to invest in overseas property. If you are marketing a project that doesn’t match their goals, whether in terms of rental yields, the potential for capital appreciation or in a location that doesn’t offer world-class international education then you’re going to face a challenge. Motives change almost on a monthly basis, so you need the latest information and why Chinese are buying and where. Motivations for Chinese buyers could include purchasing for their own use, for rental yields, for retirement or for emigration. As a real estate agent or developer working with Chinese buyers and investors you need to be ready to answer all these questions, and more, with up-to-date, correct information. If you have something that matches the needs and goals of Chinese property buyers and investors then you shouldn’t delay. Act quickly to showcase your offerings while the window of opportunity remains open.
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