Written By: - Date published: 7:32 am, July 30th, 2016 - 87 comments
Categories: business, capitalism, Ethics, housing, International - Tags: capitalism, china, for sale, housing, housing crisis, ray white, real estate
Speaking of the housing crisis:
Ray White signs deal with Lianjia as it launches into China
Ray White has expanded its agency services to China, signing an agreement to list new and old properties for sale with China’s largest real estate agency, Lianjia, also known as Homelink.
Lianjia, which has more than 6000 branches in over 25 cities in China, will co-list Ray White’s New Zealand and Australian and properties in Mandarin on its websites.
The exposure to Lianjia’s audience – about 260 million Chinese buyers – will provide Ray White with the leverage into China and, more importantly, fulfil the organisation’s strategy of becoming more diverse and a brand that is more attractive to the Chinese community. …
The move has, unsurprisingly, attracted some criticism, see Politicians slam deal for more NZ house ads in China, and ‘You suck Ray White’: Kiwis threaten boycott after agency signs deal with Chinese company, and Labour’s response reported here. The company responds:
It’s not up to us to make a moral decision on foreign ownership
Ray White says marketing New Zealand and Australian properties to Chinese buyers is “nothing new” and it is up to the government to put a stop to it, not the real estate industry. …
Spoken like a good capitalist, and exemplifying all that is wrong with unregulated capitalism. So OK then, ball’s in your court National. Now what?
Bonus explaining from RW:
We understand your concern and we would like to reassure you that our Australian-led partnership with Homelink, also known as Lianjia, is not designed to sell off more New Zealand homes to foreign buyers.
The partnership is a move made in response to the increasing globalisation of the real estate industry. Many of our customers, particularly in Australia, have been requesting this type of marketing opportunity for some time.
Well past time to stop digging.