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A top network has entered into an exclusive partnership with Juwai.com to market all of its real estate listings in Australia, New Zealand, and Indonesia in the Chinese language.
The Ray White Group strengthened its existing ties with Juwai.com by recently signing a “strategic partnership agreement”.
Ray White Group chairman Brian White said: "This agreement makes Juwai.com our exclusive Chinese partner and will lead to new transactions and better outcomes in Ray White offices across the country.
"[The] Chinese spent almost $6 billion on real estate in Australia last year, generating $147.5 million in commissions for agents.
“With spending by US and UK buyers plummeting, Chinese buyers are virtually the only major foreign buyer group that hasn't cut back on its investments in Australia," he added.
The Ray White agreement cements Juwai.com as the dominant Chinese platform for Australian real estate agents seeking to market properties to Asian buyers.
Juwai.com was founded by Australians Andrew Taylor and Simon Henry in 2011.
It ranked as the number one Chinese-language global property portal based on listings, online pages and search rankings, according to Chinese search engine Baidu.com
Mr Taylor, a former senior executive at REA Group, said Juwai.com was now the exclusive Chinese partner for all four of the top networks in Australia.
He said Juwai.com had delivered $3 billion worth of leads to Australian agents and vendors in the first half of 2014.
"While a majority of our consumers are in China, a significant share of leads we generate for Australian property come from Chinese speakers residing in Australia," he said.
"Australia is the second most popular country in the world for Chinese buyers on Juwai.com, after the USA. The UK, Canada and Germany follow in third, fourth and fifth places.
“The Australian locations that receive the most Chinese buyer interest are, in order: Sydney, Brisbane, Melbourne, the Gold Coast and Adelaide," he added.
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