Stories about Chinese buyers who are house hunting in the U.S. are common. The Chinese are the largest group of foreign buyers in the U.S., and they continue to grow in importance. Both residential and commercial agents are working diligently on ways to be in front of this group. But what are some of the common mistakes that have caused agents to lose the deal in the process? Every deal is certainly different, and some agents have more experience than others, so it's difficult to generalize. Nevertheless, highlighting previous pitfalls might help other agents be more successful with Chinese buyers in the future. Here's what you should avoid: 1. Setting up a conference call at 3 p.m. EST Our team in China is specialized in identifying Chinese buyers of U.S. houses via a wide area of marketing initiatives. We will then refer these qualified buyers to agents who are members in our network. Through email, we put the agent in contact with the buyer. In many cases, our me...
- Chinese buyers live in a completely different timezone halfway around the world, so check the time change before you propose a virtual meeting or call.
- Sending potential buyers strings of emails straight from the MLS is a mistake -- they need more insight than the fact sheet will provide.
- Don't use American acronyms because Chinese buyers won't know what they mean.