Marketing to the Asian community is more than just digital and print advertisements. It is also about knowing the people who you will be marketing to. You need to be careful and learn as much as you can about Asian customs and be prepared for any type of encounter. When doing business with the Asian community, it is recommended to have someone who speaks the language. The fact is, the biggest pool of Asian buyers are currently coming from Mainland China. It is also good practice to have a team of professionals available, such as electrician, inspector and handyman that speak the language. This will help the buyer/seller transition into their new home.
Buyers and Sellers favour companies that can display their professionalism and good reputation. Asian buyers and sellers are looking to build trust with their agent. If you break their trust they will never work with you, as Asian buyers want transparency.
When it comes to financing you need to be able to understand the behind scenes process that could be taking place when dealing with an Asian buyer. Family members can have significant input during the decision-making process, as they could be the one financing the transaction. When a transaction is completed, it is not unusual to have a large portion of the purchase done in cash. Culturally, Asians are taught to save as much as possible and it is not uncommon for an Asian to have 2x times their salary saved. Stricter rules in China have limited individuals to exchanging only $50,000 (US)2 a year and as a result could have a significant impact when speaking to a potential buyer overseas.
Feng Shui can be another potential hurdle when a buyer looks at a home. Feng Shui is a Chinese philosophy that is based upon the belief that there are many benefits to harmonizing people with their surroundings.
For example, if the address number contains a 4, that might be just enough for the buyers to decide not to buy the house. The number 4 is considered to be unlucky in China because it sounds similar to the word “death”. On the other hand, the number 6 and 8 are considered to be lucky. Six sounds similar to “fluid”, “happiness”, or “blessings” and eight sounds similar to “prosper”, “wealth” and “fortune”
When listing a home in communities such as Markham, Unionville and Stouffville one must be mindful that even the way a home is situated on a street can effect its Feng Shui.
For example, a home that sits on a T-intersection may have Feng Shui that is less than ideal because the universal energy (called Chi) is rushing too strongly from the road towards the house; this negatively affects the energy of the whole house. In many cases, you can feel how the energy of the T-intersection literally “hits” the house with sharp, aggressive, Sha Chi quality of energy.
It is imperative that the Feng Shui principles of the home are presented in the absolute best light. If not, there are Feng Shui experts who can c, make recommendations and certify the property. consult homeowners on and
On top of making your home harmonize with people, it is also very important that you harmonize with the different Asian cultures.
- Originally a British colony and understands the types of common laws that are in Canada; tort law
- Well educated business people
- Understand Western Society
- Mandarin and Cantonese speaking
- Between capitalist Hong Kong and the rest of China
- Demonstrates caution with financial investments
- Sophisticated money managers
- Mandarin Speaking
- Took advantage of recent economic growth in China
- More eager with financial investments
- Predominantly Mandarin speaking
Now and in the future, the Asian market will continue to be a significant buying force of real estate. Whether you are selling real estate in another province or locally in Markham, Unionville, Stouffville and surrounding areas, understanding the key details of your Asian community will separate you from the rest of the pack and keep you in the forefront of Asian buyers. Even with the foreign buyer tax being recently introduced into the Greater Golden Horseshoe (Hamilton to Peterborough), Asian buyers will still be flocking to the Great White North.
2 The Globe and Mail