Advertising US property to Chinese buyers

[Practical Magic]

Has anyone tried advertising their US property online with Juwai or another website that promises to get your ad seen by Chinese buyers? It's not free (between $100-200 per month with 3 month minimum), so I'm leery to try it without referrals. ~Are there any other methods mustachians have used to reach Chinese buyers?

[Amesenator]

Zillow has linked up with Leju, a China-based counterpart, to facilitate searches by would-be purchasers from China of property in the US: http://investors.zillow.com/releasedetail.cfm?ReleaseID=869834

Good luck!

[Practical Magic]

Thank you, I'll check it out!

[lovesasa]

Not sure if this is helpful or not, but $100-$200 a month is a good bit of money here (in China). I would be willing to bet you could find a real estate company here who would be willing to represent your property for that. Not sure if that would be better or worse in the buying market. As far as rentals go, it is my impression that a far higher percentage of buyers go through agents/rental agencies than in the United States.

That being said, I only have experience as a renter here, not a buyer or seller. YMMV.

Any particular reason you are targeting Chinese buyers?

[Practical Magic]

Thanks for your feedback. I decided not to sign up with the fee-based site and will see how Zillow performs. In our area (PNW) we keep hearing reports of Chinese buyers paying cash for properties, many of them sight unseen, as a way to get their money out of China. That sounds perfect for a property we've been thinking of putting up for sale, and were curious how a person might target that large yet seemingly elusive market.

[lovesasa]

Again, full caveat that I have not purchased or sold real estate in China. I just live here and read/hear about this stuff.

A lot of my students' parents own property in the US. I think many of them buy as a way to get their money out of China, and some think it will help the immigration process if they choose to relocate in the future (it probably won't).

I would say buyers in the big Tier One cities (Shanghai, Beijing, even Hangzhou and Shenzhen) are probably a bit more sophisticated investors and will have been around the block and know that they're doing at least a bit more in terms of property investment. The niveau riche in up and coming second and third tier cities might be more likely buyers. In these areas a lot of people have been getting rich quick but often have very little education, let alone financial education, about what to do with their money. These are the type of people who have a lot of extra cash they want to get out of the country fast, but probably don't know more sophisticated alternatives to "I guess I'll buy a house in the US."

If you do find a Chinese buyer I advise you to watch yourself and make sure you get as much as possible in writing and everything is handled extremely legally. Rule of law here can be a bit... wavy... at times, he who has the money that greases the wheels makes the rules, and mainland buyers may expect things to work the same way in the US.

[Distshore]

Try also searching for local realtors who have links with China.  Many major markets in the US and Australia (similar situation with Chinese investors) have realtors who specialise in this niche.  Such realtors may have Chinese realtor partnerships, or links with advertising companies in China, and often have native speakers on staff as well to cater for investor tourists.

A family member of mine sold a house this way for a good price and good settlement terms only a few days after listing, though this was not in Seattle.