Chinese homebuyers searching for properties in the United States will find it much easier to perform the hunt thanks to the new WeChat channel set up by U.S. real estate giant Zillow. By using the China-based messaging app, Zillow is connecting with prospective property buyers "in a new way."
Zillow's use of WeChat paves the way for Chinese home shoppers to gain ready access to crucial information such as the prevailing market trend and the best way to negotiate with real estate agents operating from America. The company's WeChat channel is manned by personnel speaking the native Chinese language that makes its more convenient for users.
"A direct connection to a Mandarin-speaking real estate agent will be extremely helpful as buyers are starting their home search," Greg , chief business officer of Zillow Group, told China Daily.
Also via WeChat, homebuyers are advised on how to navigate their way into securing the property of their choice, which Zillow said appears focused for now on three key U.S. states namely California, New York and Washington. Chinese buyers also tend to home in on prime properties located in Los Angeles, New York, San Francisco and Seattle.
These cities alone attracted the tens of billions of dollars poured in by Chinese homebuyers in the past two years. In 2014, some $22 billion generated by the U.S. real estate market were credited to home shopping spree that originated from China.
The numbers spiked to whopping $28.6 billion by March 2015, China Daily reported, pointing to the U.S. National Association of Realtors as source of its data.
It was clear to Zillow that Chinese homebuyers are zeroing in on specific real estate locations in America and according to Schwartz the use of WeChat and other Internet-based communication tools make it easier for these shoppers to connect with well-versed property agents.