The MLS estimates that there are approximately 5.8 million residential properties in New York State.
Chinese buyers, according to a recent report from the National Association of Realtors, are the largest foreign buyer group in the USA. Juwai.com estimates that the liberalization of capital controls in China could bring $110 billion of new Chinese real estate investment to US.
The United States is the most popular country in the world for Chinese real estate buyers, as measured by user activity on Juwai.com in the second quarter of 2015.
New York State is their third most popular US state – after California and Florida. New York City is the second most popular city in the US.
Under the terms of theagreement, NY State MLS listings will be advertised on Juwai.com to the portal’s monthly audience of 2.6 million users. The listings will also be available on Juwai.com’s iOS app.
The agreement encompasses all of the MLS's members, in all of the state’s 62 counties, including New York City and Long Island.
Dawn Pfaff, NY State MLS President, said: “Syndicating listings directly to Juwai.com will be a true benefit for our members, because it is the number one source of Chinese buyers.
“We can now ensure our members get this additional exposure for their listings, and that only the most current listing data gets displayed.
“Many agents are hearing directly from sellers that they want their property marketed in China.”
Simon Henry, co-CEO of Juwai.com, said: ”Juwai.com has the largest audience of Chinese property buyers and gives agents the opportunity to reach the largest possible audience – not just in the US, but globally.
“Only on Juwai.com can agents be sure that Chinese buyers can actually see their listings, as our site is hosted not in the US but in China, and thus is not blocked by what’s been called the Great Firewall of China.”