Raine & Horne, one of Australia’s best and longest-established real estate brands, with offices in every Australian state and territory and also internationally, announces today a new partnership with the No. 1 Chinese international real estate website, Juwai.com.
Under the partnership, Juwai.com becomes the exclusive Chinese-language marketing partner for Raine & Horne. The agency network will channel all of its China marketing investment through Juwai.com.
Juwai.com will automatically market, in China, every single Raine & Horne residential, commercial and rural listing. Raine & Horne will conduct network-wide marketing on Juwai.com, and individual offices and agents can also upgrade their listings and branding on Juwai.com with options including email direct marketing, advertorials, feature properties, translation and Chinese-language brochures and webpages.
This agreement follows similar partnerships between Juwai.com and idealista.com in Spain, Italy and Portugal, and Chicago-based Luxury Portfolio International.
Chinese investment in Australian property climbed 149% over the most recent financial year to a new high of A$5.9 billion, making China the number one source of international real estate buyers in Australia.[i]
Australian real estate agents earned an estimated $147.5 million in commission on Chinese buyer transactions that year.[ii] Australia is the second most popular country in the world for Chinese buyers on Juwai.com. The USA is the most popular country, and Australia is followed by the UK, Canada and Germany.
Individual mainland Chinese investors have these key motivations:
- Seeking yields and capital gains.
- Obtaining educational opportunities for their children.
- Internationally diversifying their investments.
- Enjoying an attractive lifestyle and living overseas for business or emigration. Many wealthy Chinese have a primary residence in Beijing, and second homes in Australia, the US and the UK.
The Australian locations that receive the most Chinese buyer interest are, in order: Sydney, Brisbane, Melbourne, Gold Coast and Adelaide. [iii]
Angus Raine, Executive Chairman and CEO of Raine & Horne said, “We have been in Asia for 30 years, including more than a decade in Hong Kong. A relationship with Juwai.com will help us achieve our objectives in China and the region.
“Chinese nationals are making their presence felt in capital city markets around Australia. We expect this to continue, given Australia’s proximity to China and our comparable time zones.
“Linking with a leading online gateway such as Juwai is a fantastic opportunity for Raine & Horne, as our brand and our heritage as a 131-year-old, family-owned firm will resonate in the region.”
Andrew Taylor, co-CEO of Juwai.com, said “Raine & Horne has the kind of long-term pedigree that can appeal to Chinese buyers. Any company with such a history is considered a trustworthy guide to buying a home in Australia.
“It makes us happy to be able to help Raine & Horne agents earn more commissions, win more listings and provide even better results to their vendors.
“With 63 million Chinese sufficiently wealthy to invest in Australia, agents should be stepping up their efforts to attract those buyers to their suburbs and their listings.”
[i] Foreign Investment Review Board, Annual Report 2012-13.
[ii] Total transaction value multiplied by estimated average commission rate of 2.5%.
[iii] Based on Juwai.com user data, 2013. 82% of Juwai.com users are from mainland China. 18% are from other countries.