Launched in 2011, the Hong Kong-based Juwai, one of the world’s largest international property search and information platforms for Mandarin-speaking Chinese consumers, has announced its partnership with LJ Hooker.
The agreement will see LJ Hooker residential and commercial listings marketed directly to Chinese international property buyers via Juwai.com. This will enable LJ Hooker agents to tap into the rapidly growing AU$4.2 billion Chinese investor market.
Chinese buyers are becoming increasingly active in the Australian real estate market and spent over AU$4.2billion on Australian property in 2011, a significant increase from the AU$1.1 billion spent in 2009. For Australian agents, this represents about AU$48 million in commission.
Globally, Chinese international property buyers are also making their presence felt, with over US$28 billion in residential property purchases in 2011, up almost 70% on 2010 sales of US$18.3 billion.
LJ Hooker’s franchise network of 690 offices across Australasia sells more than 40,000 properties each year, collectively worth over AU$15 billion.
Georg Chmiel, Chief Executive of LJ Hooker said he was excited about the opportunity the partnership with Juwai.com presented to LJ Hooker’s agents, clients and consumers.
“Over the past 18 months LJ Hooker has been investing heavily in the online and digital space for our agents as well as clients, and has demonstrated great results with over 40 per cent increase in traffic on ljhooker.com.au in the last 12 months — extending its lead as biggest franchise website in the country.
“Through this portal we will further expand the online reach of our residential and commercial listings and provide access to one of the fastest growing markets for our clients,” he said.
“We are delighted to have LJ Hooker join Juwai.com, and to play the lead role in the network’s reach into China and South East Asia,” said Simon Henry, Co-Founder of Juwai.com.
“Juwai.com covers 49 countries, and we have observed it as the most innovative real estate networks in each country that are the first to take a holistic approach to reaching the Chinese international property market. LJ Hooker is clearly the market leader in Australia, in terms of innovation and providing value to the agents in its network. We are proud to be working with them.”
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