Posted 3/3/2024, 3:30:12 AM
Chinese Homeowners Turn to Social Media to Boost Sluggish Home Sales
- Chinese homeowners are using social media like Xiaohongshu to advertise and sell their properties directly amid a sluggish housing market
- Social media allows sellers to market properties in more diverse, attention-grabbing ways than just using a real estate agent
- Some sellers have managed to find buyers and sell their homes within months using social media
- However, the fundamental supply-demand imbalance in China's housing market persists, making it tough to sell even with social media
- Real estate agents still play an important role negotiating prices and handling legal aspects of sales