The rise of the Seattle housing market has been such a consistent refrain for the last several years that there’s little question whether the Puget Sound has “arrived” yet.
Motivated homebuyers from diverse backgrounds are drawn by the region’s spectacular environment, great schools, vibrant culture and world-class companies. The only reason sales could decline in Seattle is insufficient inventory, not waning demand.
International buyers have been an important factor in this surge, with Chinese consumers leading the charge. It’s no surprise Seattle was the most searched U.S. market in 2017 according to Juwai.com, China’s top real estate search portal, and that many Chinese plan to go on shopping tours during the upcoming Lunar New Year celebration.
Increased demand means increased competition, especially in an inventory-scarce market like Seattle. With fewer available properties than interested buyers, consumers sometimes resort to time-saving and corner-cutting tactics to get to the front of the line, like waiving inspections, purchasing homes sight unseen or doing comparison shopping before putting in an offer.
Since our company was founded, Realogics Sotheby’s International Realty and our brokers have had an unwavering commitment to always follow best practices throughout the home buying process. We know how important it is to ensure buyers are protected, that they have the information they need to make educated decisions and receive the best counsel from objective, professional experts both here at RSIR or among our preferred list of advisors including accountants, lawyers, inspectors, school admissions consultants, immigration specialists and the like.
We also understand the unique factors that Chinese consumers face when contemplating a home purchase in the Puget Sound. That’s why we founded the first-of-its-kind Asia Services Group, a network of trusted, experienced brokers who speak Chinese and understand Chinese culture, and are able to serve as responsible, accessible advisors when Chinese consider buying a home.
With Chinese New Year approaching, RSIR recently hosted a Town Hall meeting with the Asia Services Group to review best practices when working with overseas buyers. The meeting was attended by China Daily reporter Linda Deng, who covered the findings in a recent China Daily cover story, and was moderated by Marc Berger from Nyhus Communications.
Find the top ten results from this meeting on the original source from RSIR.