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Guanxi in Sydney, Queen of England in crumbling castles

 
A Coldwell Banker Cayman Islands Realty take on the Real Estate news 

Picking up from last Friday's salute to you renters out there: a just-published realtormag.com survey finds that, as we suspected,  51% of renters want to own their own home

In Cayman, the main obstacles to home ownership are unchanged. How to save for the down payment, what the closing costs will be, are my wages too low... What can you do to put a plan for home ownership in place this week?  Call us

US Analysts say increasing sales for single-family homes shows both a strengthening of the market and that real estate is an excellent investment. 

Investors, they say, should focus not on location but on the project partners and its ability to generate yield. 
That report mirrors happenings in Sydney where property prices are climbing again. 

As in other global markets Chinese investors are buying up real estate due to restrictions in their own jurisdictions. Local real estate agents on the ground are in two minds about the effects of the influx on the neighbourhoods and their futures. 

These agents are also reporting on differences in dealing with and negotiating on real estate deals with their Chinese clients. Guanxi for example, refers to the relationships one holds with other people which allows them to call in favours or exert influence on behalf of others. The article explains its similarities to how we view social capital.  

It is a word, we feel describes how a good relationship with a real estate agent should be.  
Elsewhere this survey shows 40% of people not yet looking to sell already know which estate agent they will use, having already fully formed their opinion of him or her. Is this true of all professions I wonder?  

We are certainly keen to hear your opinions of us?  Contact us at any time

Spare a thought, for your choice of agent sellers. In Cayman, it should always be someone you like and feel like you trust. While you can get rid of the broker if you are selling a property, you can't get rid of the broker's work.  Selling can be a more arduous task than buying. 

While we're on the subject, you are in good real estate company at our offices - Coldwell Banker US has been ranked No.1 performing team based on sales volume.  

Finally, it is reported Her Majesty Queen Elizabeth is living in dwellings that are crumbling about her royal ears.  

One hopes she can call upon the good Guanxi of her loyal subjects to make the necessary upgrades, reportedly in the region of $71 million, after all, one must preserve ones curb appeal at all costs