International

The playbook for winning Chinese homebuyers

Pacific Union uses concierge services, Chinese website, targeted ads to reel in luxury buyers

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The Chinese couple that real estate agent Amy Sung began working with in September initially thought they wanted a property between $1.2 million and $1.6 million. Pacific Union's Amy Sung But after touring communities with Sung around Stanford University -- where the couple is looking to buy -- they adjusted their price range: They're now eyeing listings that cost between $2.2 million and $2.6 million. If Sung closes a deal with the couple, she’ll owe a hat tip to her broker, Pacific Union International. The San Francisco-based firm connected the pair with Sung in the first place, after reeling them in through its Mandarin-language website. Brokers like Pacific Union are devising strategies to target high-flying Chinese nationals. Pacific Union uses tactics such as offering up concierge services, serving up its listings on Chinese-language websites, networking at events for the country's silver spooners, communicating through popular Chinese social networks, and us...