Estate agents in Australia are missing out on the chance to target audiences in China, according to a new report coming from a Chinese property expert.
Andrew Taylor, chief executive officer of Chinese listings portal Juwai.com, told Real Estate Business that only two per cent of Australian agents looking to get a slice of the rising foreign investment market are on the right social sites.
The vast majority are still running campaigns on the likes of Facebook and Twitter, despite these being banned by the government in China, and only a very small number are on sites like Weibo, which are active in the Far East nation.
"Social media fuels Chinese purchases of real estate in Australia by helping them find properties and agents, helping them communicate with agents and giving them a way to share the properties they are looking at with their friends,” said Mr Taylor, as he added that he believes investment from Chinese buyers has increased by some 75 per cent in the past two years.
Other reports have claimed that Chinese investors snap up 19 per cent of all new homes built, showing just how important it is to make sure that agents are in touch with the right people.
Posted by Craig Francis