F
or years, a significant portion of the real estate market on Long Island and across the US has been influenced by Feng Shui, an ancient Asian custom that dates back over 5,000 years. Despite its importance, many real estate professionals and homeowners are unaware of this practice or how to prepare homes for sale to cater to this audience.
Feng Shui is a well-established tradition that many buyers, particularly those from Asia, use when searching for properties. As a certified international property specialist, I've studied the basics of Feng Shui and other international customs, which has given me insight into its significance in real estate transactions.
According to the National Association of Realtors, by 2024, Chinese buyers had become the second-largest segment of international homebuyers in the US, accounting for 11% of the market. In 2015, they spent $28.6 billion on residential properties, but this decreased to $7.5 billion in 2024 due to higher interest rates.
To tap into this growing audience, it's essential to understand Feng Shui and its importance to Asian buyers. A study by the Asian Real Estate Association of America found that Feng Shui is the second most critical consideration for these buyers, after schools and neighborhood safety. In fact, 86% of respondents stated that Feng Shui would play a significant role in their home purchasing decisions.
Moreover, 79% of Chinese buyers were willing to invest in a home that incorporated Feng Shui principles, with 90% believing it would increase the resale value. Furthermore, 36% of these buyers would not work with brokers or agents who weren't knowledgeable about Feng Shui.
As someone who has studied and practiced Feng Shui, I can attest to its significance in real estate transactions. My instructor, Mr. David Lauster, a renowned expert in Feng Shui, shared his first encounter with a Chinese couple in 2005, which was both hilarious and profound. To learn more about Feng Shui, visit the link provided.
Stay tuned for part 2 next week, where I'll share my video from our class in 2015 that showcases Mr. Lauster's experience with Feng Shui.
