Bridging the Cultural Gap With Chinese Investors

MIAMI—All, or at least many, eyes are on China. Miami has a lot to gain from catering to Chinese investors looking to jump into the commercial real estate boom. As I mentioned in part one of this article, developers are taking notice, traveling to China to market their condos and raising the city's profile among wealthy Chinese.

GlobeSt.com caught up with Arnstein & Lehr partner Anthony Kang, to get some practical advice on how South Florida's commercial real estate community can bridge the cultural gap with Chinese investors and developers. If you missed part one, you can still read it here: How Miami Can Attract more Chinese Investors.

GlobeSt.com: What are some tips you can give real estate professionals to help bridge the cultural gap?

Kang: Truly get to know your client. Understand the client's background. Do not group all Chinese clients into one group, as each may have different levels of experience, sophistication, and familiarity with the US real estate market.

Like clients from any other country, clients from China may have vastly different goals and needs from each other. Read and understand customs of Chinese businesses and professionals.

Always show respect, and always remember the importance of a trusting relationship. In terms of other specific, practical tips, I would suggest: Insist on paying for meals, even if it means taking off your tie and aggressively wrestling the check from the waiter/waitress.

And yes, do wear a tie, even if you know your Chinese visitors just finished a round of golf. With a slight bow, present your business card with both of your hands and place it directly into the recipient's hands.

GlobeSt.com: What does Miami have to do to differentiate itself from other US cities already popular among Chinese travelers and investors?

Kang: Miami can emphasize its immense diversity, its proximity to Latin America, and its efforts to make Miami more welcoming for travelers and investors from China.  Also, compared to New York and California—which are more well-known to Chinese investors—Miami's lower prices represent potentially better values and investment opportunities, especially if Miami can continue to improve on its cultural, educational, and business developments.