Taylor adds that American real estate agents can get more bang for their buck by marketing to wealthy Chinese buyers. Trying to reach the whole country on the Internet would not be an effective strategy, he warns.
“Asia has more high net-worth individuals than any other part of the world, but people on the average income won’t be able to buy your property,” explains Taylor. “Focus your efforts on the high net-worth Chinese. They often make multiple purchases over a short period of time.”
Most of these buyers are also extremely loyal and have a tight-knit family structure.
“First-generation (Chinese-Americans) might have little understanding of the English language, so they rely on friends and family,” adds Taylor.
These traits often make it difficult for an American real estate agent to build a reputation among Chinese communities, but once that trust is established, it can pay huge dividends for the agents because they’re likely to get the client – and all future deals within that client’s family.
“Be patient,” Taylor says. “It’s a longer lead, but it’s a more powerful lead.”
Andrew King is an award-winning journalist with 15 years of experience with the Gannett newspaper company, appearing in The Journal News (Westchester, NY), Asbury Park Press and USA Today. He also contributes to The Real Deal, TheLadders.com and TechPageOne.com.
