Chinese buyers are currently part of the fastest-growing sector of global real estate buyers, seeking out areas that offer an appealing way of life, immigrant investment, and educational prospects.
However, when compared to a domestic purchase, cross-border property buying is frequently a time-consuming process. Selling a home to a Chinese buyer has a unique set of challenges.
As a result, it is important to have a deep grasp of buyers’ purchasing behaviours. So, how does a developer or agent based outside China reach out to Chinese buyers and understand what they want?
The Long Buying Cycle
Language and transferring money out of China are 2 barriers that contribute to this lengthy buying cycle. Additionally, a ban on information within China, for example-no Google and Google maps, makes it difficult for purchasers to conduct independent searches. As a result, it is critical to establish a long-term strategy targeted to the Chinese market.
Be specific about your properties – this necessitates a careful balance of being truthful while also emphasising the worth of your product, otherwise you will disappoint and lose your audience.
To take it a step further, you can provide virtual tours of the property and be ready to answer questions and clarify details.
The 3 Types Of Chinese Real Estate Buyers
Chinese investors who are currently residing in Mainland China but wish to purchase a property in another country.
Chinese residents who are currently residing abroad and looking for a property in another country (for example, a Chinese citizen living in Canada but looking for a property in America).
Domestic buyers who live outside of China and want to buy a home in their present country of residence.
These three categories of buyers have distinct requirements and desires, and sellers would be wise to pay attention to them. After you’ve determined which category your prospective Chinese consumer belongs to, here are 6 tips on how to sell to them more effectively.
Tip #1 – Language Maybe A Barrier But Not A Block
The language barrier is a hindrance to worldwide real estate trading. Fortunately, you may overcome this obstacle by using translation services to create simplified and traditional Chinese commercials and marketing campaigns. It will ensure that your ads are understood by your target demographic, enhancing your chances of generating and converting qualified leads.
It is also advisable to include elements of Chinese culture and symbolism in your advertisements on occasion. Incorporating red as the background colour, for example, will appeal to Chinese viewers because red is linked with good luck. You may also expand your audience by marketing during Chinese public holidays like Chinese New Year.
Tip#2 Chinese Real Estate Platforms – Acquire a more direct audience
On these websites, there are as many real estate agents as there are buyers. As a result, you’ll need to stand out and amaze your audience by creating a strong and appealing profile with engaging listings. It is also recommended that you connect your profiles to your WeChat page and other marketing channels for a broader reach.
You can begin by creating a listing on fang.com. This extremely popular and robust real estate platform receives millions of monthly visitors.
Tip #3 Boost Credibility With A Professional website
Fraud is rampant in worldwide real estate markets, with numerous scammers preying on naive wealthy Chinese buyers. It is crucial to be (and appear) credible in every way.
Beyond your listings on social media and real estate forums mentioned above, your prospective clients will want to discover more about what you have to offer. They anticipate finding a website with detailed information about amenities, neighbourhood and transportation alternatives, and, of course, pricing.
Tip# 4 Social Media & Native Search Engines Are Your Best Bet
Chinese citizens, like the rest of the global residents, spend a lot of time on social media. However, because to the Great Firewall, they are unable to access social media networks such as Facebook, Instagram, or YouTube and must instead rely on WeChat, which has 1.2 billion monthly active users.
WeChat is a wonderful medium for connecting with potential customers. On Chinese real estate portals such as Anjuke.com, 95% of enquiring buyers leave WeChat contact information rather than mobile numbers.
There are millions of potential buyers on Chinese social media, but you must stand out from the crowd.
-Identify a target demographic and construct a buyer persona
-Identify content topics and cadence, budget for paid ads, media buys in relevant magazines, and so on.
Post properties for sale or market updates on your feed so that buyers may stay up to speed on what’s going on in your markets.
Baidu is extremely popular among Chinese real estate investors. So, in order to be recognised among millions of other real estate listings, developers, and agents, you must be competitive and ensure your site is optimised for search engines.
Tip #5 OOH Advertising Produces Results
Out-of-home media marketing is still quite powerful, and it works best if you know where to acquire the correct placements that are likely to be seen by Chinese consumers.
Tip #6 Feng Shui & Numerology
When it comes to buying property, many Chinese believe in feng shui – a Chinese traditional method that promises to harness energy forces to balance individuals with their surrounding environment. Feng shui “rules” consider house placement, layout, street numbers, and so on. For example, if the land is slightly raised to the rear of the house, it indicates protection, while an open space leading to the front door means good energy can gather and flow through to nourish the home and family.
Don’t be afraid to highlight beneficial feng shui features in your marketing content while avoiding highlighting any bad ones.
The Chinese believe in numerology as well. When it comes to buying a property, numbers play a big part in their decision. In Chinese culture, the numbers 6, 8, and 9 are regarded lucky, however the number 4 is considered extremely unlucky since the pronunciation of the word ‘four’ in Mandarin sounds far too similar to the term for ‘death.’ The more lucky digits appear in a house location, floor level, or price, the better it is in real estate.
There are numerous instances wherein real estate agents and developers were able to make a speedy sale just by changing the house’s street address number, for example, from 64 to 66.
While marketing strategies differ between North American and Chinese audiences, with the proper platforms and tactics, you can successfully convert your leads.
As Chinese market professionals with years of expertise, Digital Crew essentially knows all of the techniques for success, as far as the Chinese demographic is concerned. We were able to improve our services and strategy in the Chinese market over time. We have a wealth of real estate experience, as well as numerous successful collaborations.
However, every business is unique and necessitates a unique approach. So, please do not hesitate to contact us so that we can discuss your projects and provide you with the solutions you require.