F
or decades, real estate buyers on Long Island and across the US have been influenced by Feng Shui, a 5,000-year-old Asian custom. Despite its significance, many brokers, agents, and homeowners are unaware of this practice when preparing homes for sale to attract this audience. However, it's a well-established tradition that many buyers or their financially supporting relatives use when searching for a home or commercial property.
As a Certified International Property Specialist (CIPS) and Graduate of the Realtor Institute (GRI), I've studied Feng Shui and other international customs. By 2024, Chinese buyers had become the second-largest segment of international residential real estate buyers in the US, behind Canadians. According to the National Association of Realtors, Chinese buyers purchased $28.6 billion worth of properties in 2015, decreasing to $7.5 billion by 2024 due to higher interest rates.
To tap into this audience, it's essential to understand Feng Shui. The Asian Real Estate Association of America (AREAA) found that Feng Shui is the second most important consideration for Chinese buyers, after schools and neighborhood safety. Eighty-six percent stated that Feng Shui would play a critical role in their home purchasing decisions, with 79% willing to invest in a home incorporating these principles. Moreover, respondents were willing to pay 16% more for a home that complied with the philosophy.
In 2015, I enrolled in a Feng Shui course taught by Mr. David Lauster, who had previously managed US embassy purchases and sales worldwide. His first encounter with a Chinese couple in Orlando, Florida, is documented in a video that showcases his initial lack of knowledge about Feng Shui. To learn more about Feng Shui, visit the link: bit.ly/4k7zfHf.
Next week, I'll share part 2 of this series and provide a link to my video from our class in 2015. As a seasoned real estate professional with over 43 years of experience, I'm committed to helping you navigate the complexities of international transactions and Feng Shui principles. Contact me at (516) 647-4289 or [email protected] for a free consultation or value analysis of your home.
