How Foreign Buyers Are Different (Part 2)

As promised in the previous post about foreign buyers, let’s see what Chinese buyers are looking for, according to some American, Australian, Canadian and Western European realtors selling homes to the foreign buyers:

– New or like-new properties, preferably two stories at least, as then a home is considered a mansion

– Condos in large metropolitan cities and university towns for their children going to schools over there

–  Feng Shui features that have been already mentioned; the details are beyond the scoop of this blog, but there are many books available on the subject of Feng Shui principles; it is not unheard of hiring a Feng Shui consultant by a seller to make a property more attractive to the Chinese buyers; some developers in the areas like California where the Chinese love to buy properties internationally, do this even at the initial stage of just starting the new homes construction as it is much easier at this stage to arrange positioning of the future homes according to Feng Shui and thus secure sales to the Chinese buyers

– Properties adjacent to good schools catering to foreign students

– Properties with the good prospective appreciation in value to preserve and multiply the invested money; the Chinese buyers might even purchase a property unseen if they consider the property a solid investment

– Preferably no number “4” in the address, date of showing or price (meaning “death” in the Chinese culture); some realtors even ask cities to change some homes’ addresses to exclude “4” to be able to offer it in the lucrative Chinese market

– The number “8” is very welcome (meaning “wealth” for the Chinese).

International realtors selling to the Chinese, based on their experience give the following advice on how to deal with this group of the foreign buyers:

– Communicate in Chinese with the help of the bilingual staff and partners, or translators and interpreters

– It is important to advertise on websites that are hosted in China, not in other countries

– Prove that the property is great for the long-time investing by solid financial and investment data

– Develop trust with the buyers and it will bring all their family and friends to buy around and use your services afterwards.

A summary: Your property may be more attractive to the foreign buyers from a particular country than to the locals and often you can sell faster and even get a higher price because of that – just look at it from the point of view of a foreigner.

Copyright © 2016 by Olga Kellen
All Rights Reserved

 

 

 

 

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