International

The playbook for winning Chinese homebuyers

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

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...