Online real estate marketplace Auction.com LLC and AREAA Global, a subsidiary of the Asian Real Estate Association of America (AREAA), are joining together to develop commercial real estate (CRE) ownership opportunities for Chinese investors.
Per the agreement, Auction.com will guide interested buyers through the transaction process and train CRE professionals in the AREAA network on its online platform. AREAA Global will establish a licensed consulting service to deliver customer inquiries to Chinese-speaking brokers and agents who have been trained to use the Auction.com platform.
‘As the only business trade organization focused extensively on facilitating international partnerships between real estate professionals in the U.S. and Asian investors overseas, AREAA Global is the ideal partner for us in this endeavor,’ says Auction.com CEO Tim Morse. ‘Providing local market, Chinese-speaking real estate experts will help Chinese investors make informed buying decisions and gain a better understanding of Auction.com's transaction processes.’
‘As the world's largest investor in U.S. residential and now commercial business, Chinese investors are becoming a critical part of ensuring strong demand and consistent capital flow for U.S. real estate,’ says Allen Chiang, AREAA's global chair. ‘Through this partnership, we can benefit both U.S.-based sellers and buyers from China.’