As China continues is ascent into the economic elite, its citizens are increasingly looking to the United States for real estate. The Chinese urban housing market has become incredibly saturated and for this reason prospective Chinese buyers are looking to the United States for buying opportunities. As the prospects of business with China continues to grow it is important to understand how to best serve and communicate with their buyers.
Although they may not all speak English, this doesn’t mean they are uneducated. On the contrary, most Chinese buyers are quite smart and savvy. The perception is often that because they are Chinese they will chose a Chinese agent. “Chinese people do not necessarily have to work with Chinese agents, just like Caucasian clients do not necessarily have to work with Caucasian agents,” said Hong Kong native Mark Wong, an agent with Alan Pinel Realtors in Saratoga, Calif. He also suggests that it is important to establish a relationship built on trust, and for agents to do their research on Chinese culture before conducting business. The panel at “Doing Business with China”, hosted by the Silicon Valley Association of Realtors, also emphasized the importance of understanding Chinese gestures and their meanings, as well as the symbolic meaning of different colors and numbers.