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Negotiating key to selling to Chinese

Negotiating key to selling to Chinese

by Reporter 0 comments

Brendan Wong

Agents that want to effectively target Chinese buyers need to provide a means for them to negotiate prices, according to one Sydney director.

Director of Richardson&Wrench Mosman and Neutral Bay Richard Simeon said there was a perception that because Chinese acted quiet, they were being rude.

“But they're actually quite shy and they're quite private and they're also negotiators. Everything is negotiated.

“If you don't set a framework where they haven't the ability to negotiate with you then you're probably not going to get a sale.”

Mr Simeon who has sold over 180 million dollars worth of properties to Chinese buyers recently returned from the Luxury Properties Showcase in China.

The international real estate expo was an invitation-only event that allowed Shanghai’s elite property investors to interact with international real estate experts from 25 countries. 

The four-day event was major success with Australia particularly being a drawcard for Chinese investors, Mr Simeon said.

“A lot of them have a preference for Australia because it's on the same timeline, they want their children to be educated here, and they've got a mandate or a desire to either retire or move to Australia.”

Mr Simeon was accompanied by Monica Tu, owner of Black Diamondz Property Concierge, who acted as a translator.

He said travelling to the expo was an opportunity for him to find the best buyers for his vendors and to build relationships with Chinese buyers so that he would be their first point of contact when they came to Sydney.

According to major Chinese listing portal, Chinese investors spent an estimated $5.4 billion on Australian real estate in the 2012-2013 financial year. 

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