The Chinese real estate market is a very specific market. It is difficult to sell properties to a Chinese buyer. However, many are entering the market. First is the United States, which invested $14.3 trillion in real estate in China in 2019. In addition, Chinese buyers spent $33 billion buying property.
If we take a closer look at the market, we can see that prices are stable. According to data from the National Bureau of Statistics, prices of second-hand houses even decreased by 0.2% last September in the four major cities (Beijing, Shanghai, Guangzhou and Shenzhen).
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Strategies to conquer the Chinese real estate market
Real estate in China is a buoyant market. This is why a significant number of developers are trying to seize an opportunity there. But the complexity of the market overwhelms them.
A specific approach must be adopted in order to adapt to the market and its consumers. The legislation is also very strict, and we must be aware of it so that it does not act as a brake.
There are three steps you need to go through in order to sell your property on the market:
- Work on your Visibility on the market
- Improve your Brand image
- Sale your products
Work on your visibility on the Chinese Real Estate market
In order for your company to gain a foothold in a market, you need to make it visible. This is especially true in China. A company already established and recognized on the international market will not necessarily be in China. Indeed, China must be approached in a different way. Countries have their own referencing tools.
Baidu boosts your brand awareness
Baidu is the first Chinese search engine, we could compare it to Google. So do you realize the visibility you could have if your company was well referenced there? 1 million users, per day.
Your referencing is essential. You will thus be visible to the targeted real estate agents.
In order to do this, it is necessary to know how to use Search Engine Optimization techniques. Forget the techniques you already know. Baidu has its own rules. That’s why you need to learn more about it. GMA, a professional in Chinese digital marketing has written articles to inform several techniques that promote good SEO by Baidu.
This is one of them :
Improve your Brand image
Once you are visible. You need to attract your target. To do so, an adapted brand image is essential.
But how to adapt your brand image to China?
You must apply to Chinese standards. The sales process is often long and will be even longer for you. Notably because of legislation, language barriers, currency, etc. You must therefore arm yourself with patience!
Baidu is one of the elements you must master. But the one you will get to know by heart is WeChat. It is no longer a secret that WeChat is an essential application for doing business in China.
WeChat to develop your real estate agency image.
You probably already know WeChat. But do you know it as a Chinese person knows it? Probably not. The real estate agents with whom you are going to collaborate are familiar with the platform and use it every day for commercial purposes.
What you should know about WeChat?
WeChat’s mini-programs are a real revolution for e-commerce. It allows any company to have a personalized online store. It is indeed very simple to customize its site via the HTML5 format. The mini-apps are, thus, used as a front brand for the customers. It is, then, essential to reflect the right image.
What’s more, users don’t need to download any application, just open the Wechat mini-program, and they can start shopping online, play video games, etc. It is very convenient and user-friendly.
A Chinese Website is your real estate agency portal
A Chinese website is essential for your business because it is a good and reliable way for you to educate your targets. A well-designed Chinese website can be very helpful. Just keep in mind that your website content and design should cater to the Chinese audience and it should be hosted in China or nearby for good user experience.
Please note that the storytelling strategy is very popular in China. You can present your brand value, concept, and launch new products on your website to give viewers the first-hand information.
Customer Service is important in China
Gaining the confidence of Chinese consumers is complex. Storytelling is an element that will add value to the quality of your products.
What is really needed, however, is direct communication with your customers. This is why it is essential that you install a Chatbot within your web platform. This is common in China, it allows you to build confidence by proving to the consumer that you are there for him. In this way, you can promote the brand image, and your real estate agents are more likely to do business with you.
The story of Yue Hao: a successful initiative in the real estate business
Yue Hao is a career real estate agent in Beijing. She used to feed her professional website WeChat with photos of the properties she was selling. One day, she had the great surprise to be contacted by a Chinese entrepreneur. He wanted to know more details about the famous Baccarat Residences tower in New York.
As a result, the parties began to discuss the application. As a result, Miss Hao very quickly took the initiative to create a WeChat group with all the people involved in the deal: the lawyers, the buyer, and herself. WeChat allowed them to communicate discreetly because the groups are confidential. In the end, the deal was concluded for 13 million dollars.
This record explains a lot about the way business is done today. E-commerce, social media could be better exploited by everyone. All we need to do is know how to use the range of features available to us.
Do not hesitate to contact us so that together we can exploit all the functionalities of the tools that are within your reach.
GMA is the leading Chinese digital marketing expert, with more than 8 years of experience. We are your trustable partner.