JULY / AUGUST 2013
dollars and euros and getting nothing – or very little – back. Is there a problem? If so, is the dip in China’s economic success story to blame? Are buyers just being more picky? Are there too many exhibitors, not trying hard enough, who don’t really ‘get’ China? In short, is this a problem with the buyers or with the exhibitors?
We asked several successful sellers to China what exhibitors are doing right and wrong and what they could do to help themselves sell property in China. On the subject of poor
performances by western sellers, Benjamin Locke from Atlas Blue Property has no complaints, but says, “I have seen many scams on the client and the developer.” He advises, “Don’t come into the market knowing little to nothing about China and giving your money away to ‘marketing
agencies’ claiming to have access to thousands of interested clients. Some of the local ones in China know very little about overseas property.”
Andrew Batt of
www.allproperty.
com.sg says, “China is a tough
China is a tough market to crack, but it’s lucrative
market to crack, but one that can be extremely lucrative if you get it right. It’s so easy to get it wrong.” He has seen a high-end agency spend thousands of pounds on a fancy booth and supporting literature, but what they failed to do was understand the Chinese culture. “They failed to get any return whatsoever from their
investment because they assumed Chinese buyers make decisions in the same way as everyone else. They don’t, and that was an expensive lesson for them.” Jacky Li, founder of Sky Property, pointed out that, compared with the market in 2011 and 2012, there are far more developers and agents from all over the world coming to China to promote their products. He says that the quality of what they’re selling can vary considerably: “Some of them sell properties which are good value for money, while others are clearly just intending to make some quick money. For sellers the situation feels quite chaotic, and there is so much more competition this year.” But what most exhibitors have commented on is the huge number of buyers, even with so many exhibitions to choose from. One of the UK’s biggest exhibitions, A Place in the Sun Live in London
07
www.opp-connect.com
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