Real Estate Articles
Realtors learn not all Chinese are the same
Silicon Valley has had a large share of Chinese buyers and Realtors have learned not all Chinese are the same. Their world view and how they engage in real estate can differ, depending on where they were born and raised.
At a Silicon Valley Association of Realtors program, Realtors Amy Sung, Mei Ling and Mark Wong, three overseas born Chinese (OBCs), recounted their adjustment to the American way of life and differences among Chinese. Wong, a Realtor with Alain Pinel Realtors, said adjusting to the America culture was easier for him. He is from Hong Kong, a former British colony, where English or a mixture of Cantonese and English are spoken. Hongkongers are open, forward thinking, embrace the western culture and way of doing business, said Wong.
Sung, who is with Pacific Union International Realty, is from Taiwan. She said because of Taiwan's separation from mainland China, Taiwanese are western oriented, but also very entrepreneurial, since the island is dependent on imports from other countries to survive.
"Everything in Taiwan is about doing business. You have to be in a trade. It is ingrained in our blood," said Sung.
Ling, an agent with Sereno Group, was born in mainland China and grew up when traditional elements of Chinese culture were wiped out by the communist government. Her generation is more conservative, places value on education, is frugal and works hard for their money. She said younger Chinese buyers from wealthy families in China spend money freely, want new and expensive homes. The "super rich" clients from the mainland pay all cash and are very secretive about their finances. Ling added not all Chinese buyers feel a loyalty to one agent and will drop one for another.
Alan Wang, an American born Chinese (ABC) Realtor with Keller Williams Realty, says ABCs like him "know you have a voice. You are able to speak your mind and learn to speak up." ABC clients and agents are also "more up front." Though he speaks Chinese, Wang said many ABCs can't and have assimilated into the American culture. They play football, basketball, eat hamburgers. He works well with Taiwanese and Hongkongers, who adapt well to the American way of doing business. He struggles more with Chinese from the mainland, who are more conservative and demand greater effort to earn their trust.
The panelists encounter Chinese clients who seek favors because they, too, are Chinese. Wang said, "It's all about fairness and ethics. It is a turn off if a Chinese client insists on a better deal just because they are Chinese. Ethically, it puts us in a bad spot."
The panelists explained asking for a commission rebate is part of the Chinese culture and should not be taken personally by agents. "They have every right to ask, but we also have every right to say no," said Wong.
Despite some differences, the panelists said Chinese share general traits. They dislike confrontation, so a nod merely means "I hear you," not yes; and "maybe" means no. They don't like to "lose face." They have a strong family support system and great respect for hierarchy and the elderly. Once you gain their trust, you are a friend forever. Recognition of mainland China is a sensitive topic to many OBCs, so stay away from the subject of politics!
"Despite the differences, at the end of the day we are their agents and have to look after their best interest and treat them with respect and take care they don't lose face," said Wong.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.