International Brokerage Firm Plays an Active Role in Representing Region Attracting Overseas Investment
Realogics Sotheby’s International Realty (RSIR), the Pacific Northwest’s largest affiliate for the fast-growing global real estate network is welcomed as a new corporate member to the Washington State China Relations Council (WSCRC). Dean Jones, RSIR’s President and CEO was invited to join the board as well as the Inbound Investment Committee. He will also help lead the new Real Estate Sub-Committee providing a platform for both residential and commercial interests in Washington.
“The Washington State China Relations Council provides an important voice in Washington as the world’s two largest economies explore opportunities that will benefit our members and our region for decades to come,” said Jones. “I look forward to serving this tremendous institution and contributing both here at home and overseas.”
Jones has taken a keen interest in promoting the Puget Sound region at property shows in China and in hosting numerous delegations on real estate and investment tours. He travels to China often to establish business networks and is tapped as an expert on recent Chinese investment trends in the Pacific Northwest by both local and international media. RSIR also established their “Asia Desk” – a collective of real estate brokers familiar with language and logistics when working with overseas buyers. A video entitled “East Meets West” highlights the many trends that are drawing Chinese demand for local real estate.
“We have noted Mr. Jones’ knowledge of investment trends and enthusiasm for promoting Washington state in China,” said Kristi Heim, Executive Director of WSCRC. “He’s been a key presenter to Chinese investment delegations in the past and now we’ll enjoy a more regular presence as we explore new initiatives and broaden our membership.”
PICTURED ABOVE: A Recent Washington State China Relations Council Event. (Left to Right): Kevin Corbett of PLUS Investment; Dean and Stacy Jones of RSIR; Olive Goh of CITI Private Bank; and Gary Locke, former Governor of Washington and previous US Amabassador to China.
The Washington State China Relations Council, founded in 1979 following the normalization of diplomatic relations between the United States and China, is the leading organization engaged in China-related activity in Washington state. A private and non-profit business association dedicated to promoting stronger commercial, educational, and cultural relations between the state of Washington and the People’s Republic of China, the Council is the oldest non-governmental statewide trade association in the United States dealing specifically with China. Its more than 100 members include leading companies, ports, banks, universities, cities and international organizations.
Inbound investment from China to the US, specifically to the Seattle/Bellevue metro area has expanded significantly in recent years, according to Jones. By example, the National Association of Realtors says that Chinese nationals eclipsed the Canadians as the top foreign buyer for residential property in the US for the 12-month period ending March 2015 both in terms of total units purchased and the aggregate dollar volume.
RSIR has produced a video documentary called “East Meets West”, which captures many of the driving forces attracting Chinese homebuyers in the region. Jones also notes a similar trend in commercial real estate investments and development.