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10 ways to build better trust with Chinese property buyers
By Juwai, 18 April 2017
$225 billion – that’s how much Chinese buyers are projected to spend on international property between now and 2025.1
With so much at stake, it’s no surprise that international agents and brokers are scrambling to secure their slice of the pie. However, those wanting to stake a claim onto the $225 billion would first need to build up trust with prospective clients from the Middle Kingdom.
How do you build trust with foreign clients on the other side of the world, though? After all, not only do they hail from a markedly different culture, but they also speak an entirely different language!
To put you on the right track, we impart ten trust-building tips to help you cultivate stronger relationships and guanxi with Chinese below.
#1 Present the process
Homebuying can be stressful, particularly for Chinese buyers unfamiliar with overseas transaction practice and processes, so brief your client clearly and manage their expectations with a factsheet with your listings or website that explains the length of the process, regulatory hurdles, visa requirements, and incurrable fees.
#2 Narrow the focus
Make your client explain their goals early on and work closely to them. Chinese want overseas property for varying reasons, be it for own use, educational, emigration, retirement, or lifestyle purposes. So brush up on these local factors to quickly meet your clients’ needs.
#3 Present your network
Show your client a network of local lawyers, surveyors, and school admission offices. This assures them that you offer related services to help make their deal as smooth as possible.
#4 Share regular updates
Send out a weekly/monthly newsletter packed with latest deals, new listings, market trends, and updates – this cements your position as a go-to source for Chinese expertise and investment opportunities.
#5 Consistent communications
Bridge the time zone gap by fixing your availability with China-friendly times, and be sure to answer e-mail replies within 24 hours. Chinese buyers tend to be fast-movers, and any dawdling or delay in reply could cost you should they choose to move on to another more responsive agent.
#6 Show your success
Showcase your expertise with testimonials from satisfied clients or case studies of deals that you have delivered. Jaded with countless cases of scams and hoaxes, Chinese are heavy on trust, and such testimonials could help boost their trust and confidence in choosing you as their agent.
#7 Tie-up with technology
Chinese have become some of the most tech-savvy consumers on the planet, so leverage technology for maximum reach and results. We suggest you consider using QR codes or pushing regular updates on QQ or WeChat – this not only extends your brand reach online, but also offers easy access and communication between you and your clients, thus forging a closer guanxi at the same time.
#8 Perfect your pictures
Invest a little extra in making sure your pictures put your listing in the best possible light. Nothing turns a prospective buyer off more than a poorly-chosen photo, especially with Chinese buyers who are growing more discerning and sophisticated.
#9 Offer essential after-sales services
You may close a deal but don’t close the door on your client – follow up on your client after their purchase or move, and offer your assistance to help them ease into their new settings.
#10 Above all, be honest
Inaccurate listings and false promises are an absolute no-no if you want to build trust, credibility, and a lasting guanxi with Chinese.
Remember, building a good relationship with one Chinese buyer could secure you a good recommendation that may open up more opportunities and referrals in China itself, so make these pointers are part of your offerings to maximise your chances of bringing deals in the door.
Liked this tip article? Read 10 tips to better success with Chinese buyers or 11 tips to up your Chinese marketing game as well!
Sources: 1: Auction.com: Top four reasons Chinese buyers invest in U.S. real estate;