Coldwell Banker Residential Brokerage, the Bay Area’s largest provider of real estate services, announced today that it has launched a new international marketing program focused on international investors looking to buy high-end homes in the United States.
The initiative will market Coldwell Banker Residential Brokerage listings here at home on a global basis through a combination of print and online advertising, targeted direct marketing, and other outreach efforts.
Additionally, the program will leverage Coldwell Banker Real Estate LLC’s extensive network of offices and sales associates throughout the Far East to find qualified buyers of local properties.
Homeowners in Asia have become the fastest-growing segment of offshore buyers for U.S. homes, according to recent industry figures. Buyers in China alone now represent 9 percent of the $41 billion spent annually by international buyers, according to the National Association of Realtors – nearly double the total just three years ago.
Chinese buyers now trail only Canadians as the top buyers of U.S. properties. India is tied with Mexico for third at 7 percent. For offshore buyers, California remains one of the top locations in the nation, according to NAR’s study.
“For a variety of reasons, buyers in Asia are increasingly looking to the U.S. in general and California and the Bay Area in particular when it comes to real estate investments,” said Anne Treacy Johnson, regional vice president of marketing for Coldwell Banker Residential Brokerage.
Affluent Chinese residents are facing increasing limitations from their government on purchasing real estate as China battles inflation and what the government and many investors fear might be a real estate bubble. Properties in the U.S., even in more expensive Silicon Valley communities, are considered relatively cheap compared to escalating property values in China.
That combination of spiraling real estate prices and growing limitations by the Chinese government are prompting many well-heeled citizens to look overseas for places to invest and perhaps relocate. The trend has led to a rapid growth of Asian populations in Bay Area cities, such as Cupertino, where more than half of the residents are Asian, according to the U.S. Census Bureau.
“Given the strong international demand for our properties, it’s critical to reach Asian buyers with a very targeted and strategic marketing program in their home countries,” Johnson said. “Our goal is to put Coldwell Banker Residential Brokerage listings in front of the widest possible audience of affluent buyers from Asia, and do it in a sophisticated style that potential buyers in these countries prefer.”
Coldwell Banker Residential Brokerage will be marketing the properties with extensive advertising in a host of influential global publications, including the Wall Street Journal Asian edition, Unique Homes magazine, Millionaire Asia, and Previews International Homes & Estates.
The program also gives agents the opportunity to showcase their properties on leading international websites, including ListGlobally.com, EastWestLuxuryEstates.com, the Wall Street Journal’s online Chinese edition and Caimeiju, one of China’s top websites specializing in luxury properties in America. In all, listings will be exposed to more than 15 million buyers worldwide on more than 550 highly trafficked websites.
Additionally, Coldwell Banker Residential Brokerage has launched its own “micro site” for international buyers of high-end California homes called CBPCalifornia.com. The site will be used when consumers in China, Russia and the Middle East search for California listings using their native search engine — Baidu, (the Chinese version of Google), Yande (the Russian version of Google), and Google UAE.
The company will complement the Internet and print advertising efforts with a direct marketing program overseas that is designed to reach more than 100,000 affluent individuals in the Europe, Asia and the Middle East. The network of buyers is an exclusive marketing tool for Coldwell Banker Residential Brokerage agents.
Coldwell Banker Residential Brokerage is working to leverage one of the largest networks of agents worldwide as part of the program.
“One of the biggest tools we will be using is our global network of 86,000 sales associates in 3,200 offices in 49 countries around the globe,” Johnson said. “This incomparable network of real estate professionals will support our marketing efforts on the ground in each of these countries and give our listings a truly global reach in order to attract the right buyers for our properties.”
For more information about the new international marketing program, please contact Coldwell Banker Residential Brokerage’s marketing department at 925.275.3085.