Accessing the Asian Market: Thoughts from a Gwai Lo

Accessing the Asian Market: Thoughts from a Gwai Lo

Here are some quick "how to" suggestions presented at the 2016 Sotheby's International Realty Global Networking Event in Las Vegas, Nevada. Over 2500 agents from all over the world are here to network and share. We are honoured that our team has been asked to share what we have learned over the past three years. Any comments or thoughts are always appreciated.

 Thoughts from a Gwai Lo!

1. Commit to retooling your business and your mindset. If you have a team, add Mandarin speaking agents and start learning basic language and foods.

2. Join the Asian Real Estate Association of America in your local area or nationally.

3. Attend AREAA Conferences.

4. Look for groups within your local Real Estate board. Toronto has 2: one Cantonese (CREPSO) speaking started by the Hong Kong born REALTORS and a new Mandarin speaking organization (CCRP) of Mainland Chinese.

5. Attend their fundraisers and involve yourself as a volunteer. Make a commitment.

6. Learn about Feng Shui and what drives an Asian Buyer.

7. Learn about the Private and Public Schools in your trading area.

8. Travel to Asia and establish business contacts in Hong Kong, Taiwan, Beijing, Shanghai, Singapore, Japan, South Korea. Visit every Sotheby’s office in those locations and offer presentations about your local market and what would be attractive to Asian clients.

great wall of china
The Great Wall of China

9. Advertise your properties on web sites within China: Juwai and Cameiju.

10. Download and start using WeChat.

11. Get used to eating out of the ordinary food as Chinese celebrate around food. It is traditional to host and be hosted.

12. When you visit colleagues for business bring gifts.

13. Learn how to present your card and how to receive their business cards. It is ritualistic.

14. Know that negotiation is a must and never be offended when you see low bids or are asked to prepare offers that are lower than you would have suggested.

15. Know that if the client really wants the property, they will pay. If not, they are just enjoying the negotiation.

16. Realize that you are embarking on a journey to a lifestyle. This is a major business commitment.

accessing the asian buyer

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