Sotheby's International Realty to Target China's Wealthy with New Juwai.com Alliance
Sotheby’s International Realty has announced an alliance with Juwai.com that enables the luxury real estate brand to generate Chinese buyer interest on one of the world’s most prominent real estate websites with over two million monthly visitors. As a truly international brand, Sotheby’s International Realty now has the most global representation on Juwai.com, displaying luxury listings from 65 countries and territories.
Chinese Real Estate Buyers
China is already the second-largest source of visits to sothebysrealty.com, only after the United States, and accounts for one out of every 10 visitors. Additionally, in a recent report released by RSIR, the imposition of a 15% foreign investment tax in Vancouver, B.C. is increasing search traffic by Chinese buyers for real estate in the Puget Sound. Matthew Moore, President of the Americas for Juwai.com, noted significant changes: “Juwai.com buying enquiries to Seattle increased by 143 percent in August 2016, compared to one year earlier. Meanwhile, buying enquiries to Vancouver dropped by 81 percent during the same period, with all of that drop concentrated in the premium end of the market.”
The partnership with Juwai.com is timely, and offers another platform to optimize global exposure for brokers and clients. “There’s no doubt that Asian homebuyers, particularly from China, continue to be a material component of our local real estate market,” said Dean Jones, President and CEO of RSIR. “Our Asia Services Group is uniquely qualified to assist foreign buyers as they are specialized in the language, culture and logistics necessary. We view Juwai.com as a strategic portal to showcase our Asia Services Group and all the properties that RSIR represents.”
Details of the Alliance
The Sotheby’s International Realty brand alliance with Juwai.com includes the following components:
Listing display: Sotheby’s International Realty property listings will appear on Juwai.com and in its real estate search results.
First responders: Juwai.com’s Chinese-language team is located in mainland China so they can respond to consumer inquiries in real time, translate the inquiries into English and forward them to the Sotheby’s International Realty sales associate who has the listing.
Brand page: A Sotheby’s International Realty brand overview page carries information about the brand, a contact form and the network’s listings – all in one place.
Banner advertising: Sotheby’s International Realty banner ads will run on the Juwai.com homepage, promoting the company’s new brand page and listings to Juwai.com’s audience.
“We are constantly looking for opportunities to expand globally by adding new distribution opportunities that showcase properties to affluent consumers in key growth markets,” said Wendy Purvey, Chief Marketing Officer, Sotheby’s International Realty Affiliates LLC. “The alliance with Juwai.com achieves that by giving us better access to a market that is already one of our most important, and which promises great future growth.”
Realogics Sotheby’s International Realty, which has offices in Seattle, Bainbridge Island, Kirkland, Issaquah and Madison Park, offers exclusive Sotheby’s International Realty® marketing, advertising and referral services that are designed to attract well-qualified buyers to the firm’s property listings. Property listings from Realogics Sotheby’s International Realty also are marketed on the sothebysrealty.com global website, as well as on the firm’s local website, rsir.com.
As a Sotheby’s International Realty affiliate, the firm and its clients also benefit from an association with the Sotheby’s Auction House, allowing the firm’s sales associates the opportunity for real estate referrals with auction house clientele as well as the unique ability to refer real estate clientele for appraisal services for jewelry, art, antique furniture and collectibles.
The Sotheby’s International Realty network currently has more than 19,000 affiliated independent sales associates located in approximately 850 offices in 65 countries and territories worldwide. Each office is independently owned and operated.
Realogics Sotheby’s International Realty flagship office is located at 2715 1st Avenue in Seattle, WA. For additional information, please contact 206.448.5752.