Like Tree7Likes

Potential relocation from US to HK

Closed Thread
Page 2 of 2 FirstFirst 1 2
  1. #11

    Join Date
    Apr 2003
    Location
    Hong Kong
    Posts
    3,988

    Sorry, hate to be the killjoy, in my view, the OP is wasting his time because:
    1) seems to be fresh grad level with no experience, obtaining working visa very very difficult;
    2) has to learn local real estate law and get license;
    3) does not know any landlords, and maybe no language skill to communicate with same;
    4) doesn't know that HK real estate is really really local, would not be HK agent, would be local agent completing with hundreds of agents;
    5) starting at bottom means endless days of cold calling;
    6) if asked about property matters, e.g village house, ding rights, Illegal structures, gov. land, Short-term tenancy, building management, ghost house, does not know and it takes time to learn;
    7) without Cantonese difficult to get past security guards to show property, ask about the management fee, clubhouse facilities, etc.

    as @Elegiaque says OP needs a lot of cash to cover learning time.

    my 2 cents

    chingleutsch likes this.

  2. #12

    Join Date
    Nov 2007
    Location
    Wanchai
    Posts
    5,063

    You can try approaching JLL (Jones Lange Le Salle) In the States first and then getting relocated internally.

    They have quite a large presence in Hong Kong and recruit a lot of expats.

    They also seem to have a large number of openings in HK at the moment, mostly for local management and maintenance staff but also a couple of other roles so it's worth a shot.

    https://sjobs.brassring.com/TGnewUI/...ch=hong%20kong


  3. #13

    Join Date
    Sep 2017
    Posts
    6
    Quote Originally Posted by MandM!:
    Yes anyone can get a real estate license. You'll need to study intensely for the test, I would say full time for about a month. You can study online from where you are now as all materials are on the EAA website. Then when you arrive sign up and take the exam.

    Do you have loads of cash? Real estate is basically a commission only role--you're very likely to not earn much the first few months even if you are good at sales and for sales most agents focus on new properties and those commissions are actually paid years later--most agents just have the job to satisfy their parents and earn a 5-10k hkd salary. Unless you are a stellar salesperson then unlikely you will make any decent money. There are agencies who hire foreign agents and sponsor their visas. Usually they classify you as a more Business Development role but you'll have huge KPI's and quotas to meet. Some of the larger companies will charge you for not meeting quotas such as being late to work, not enough new listings found, not enough new phone calls, etc. Some agents will work on rental listings to get commission in the pipeline.

    Given hk has huge taxes on foreigners buying real estate (30%). Who is your targeted audience to sell too?

    It will take time and experience before you can get into a commercial property role and that will likely be along the lines of relocation or management -- not sales.
    I'm assuming the exam there would be somewhat similar to the California Real-Estate License Test that I just passed. I had no trouble with this at all (passed first attempt).

    Your explanation of commercial real-estate/real estate and the starting environment actually translates well to the US side too. More specifically to the commercial side, but it is often shared that one can expect to have a slow first couple years with very little pay. In my case if I were to live in HK, there would be a few more hindrances though.

    Ideally I would not have a limited target audience, but to break out of only dealing with English-Speaking clients, I would greatly have to improve my Mandarin/Cantonese.


    Quote Originally Posted by Elegiaque:
    I suggest you look into the masters programmes here in real estate, like this one:

    Master of Science in Real Estate | HKU Faculty of Architecture

    That way you can get a student visa, although you won't be able to work under that visa privately.

    You will need a LOT of money to be able to support yourself here in Hong Kong. It isn't easy. To be honest, a lot of people are suffering because of the real estate industry. In Hong Kong a small shoe box costs hundreds of thousands of USD. Are you sure you want to contribute your professional life to helping this unfair practice of our society?
    Good idea about pursuing a Masters to obtain a Visa.

    Should I stay in the US, the area that I would pursue Commercial Real-Estate at would be the San-Francisco area of California. Comparing HK to San-Francisco, I would almost think SF surpasses the cost of living of HK (not when comparing Sq. Ft to Sq. Ft.). So in that regard, I know that with either of these locations will require hard work to make it sustainable.

    I'm aware of the ridiculous costs for living in a "shoe-box" over there, but with my focus I most likely would not be too involved with housing prices. I would enjoy working more with businesses and helping the country prosper by providing efficient commercial options/locations.

    Quote Originally Posted by Mrs. Jones:
    Have you looked into Singapore instead OP?
    I have not looked into Singapore at all. I'm aware that they speak English commonly there as-well, correct?
    Elegiaque likes this.

  4. #14

    Join Date
    Dec 2002
    Location
    θ–„ζ‰Άζž—
    Posts
    47,964
    Quote Originally Posted by Trebor:
    You can try approaching JLL (Jones Lange Le Salle) In the States first and then getting relocated internally.
    Another one that came to mind was IP Global and a few other places that sell to investors.

    And then there is the EB-5 thing... Hot in china! Esp if you're connected with the Kushners.

  5. #15

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    You won't be able to pick up the local language and culture anytime soon ~ probably never able to sell to local/mainland market.

    You'll be draining money for some time too. Hk isn't cheap.

    The hk real estate exam is much different than the California exam~in fact you have no chance of passing without a thorough study of hk real estate rules. Different ways of doing business here.


  6. #16

    Join Date
    Oct 2012
    Posts
    6,531

    The other thing to keep in mind about university programs is that the university itself will provide you a lot of support. It's really an ideal way as a young person to move abroad. I'm not completely sure, but I think after graduation if you liked HK you would have the opportunity to seek a job here.


  7. #17

    Join Date
    Feb 2016
    Location
    Faroe Islands
    Posts
    2,209
    Quote Originally Posted by Elegiaque:
    The other thing to keep in mind about university programs is that the university itself will provide you a lot of support. It's really an ideal way as a young person to move abroad. I'm not completely sure, but I think after graduation if you liked HK you would have the opportunity to seek a job here.
    Yes you get a year to look for a job.

    http://www.immd.gov.hk/eng/services/visas/IANG.html
    Elegiaque likes this.

  8. #18

    If your long term ambitions lie more in commercial property development, have you tried getting a graduate entry role with one of the big property companies? You would probably have a better chance with one of the ones of Western origin where lack of Chinese is less of a constraint. I know both Hongkong Land and Swire Properties take graduate trainees, though the competition for these roles is intense.

    Otherwise, your best chance of getting a role at entry level would be through networking - do you know anyone already in real estate in HK? Also consider getting a role with an international real estate company with strong HK connections and working in the US for a couple of years then getting a transfer.

    TheBrit likes this.

  9. #19

    Join Date
    Sep 2017
    Posts
    6
    Quote Originally Posted by Elegiaque:
    The other thing to keep in mind about university programs is that the university itself will provide you a lot of support. It's really an ideal way as a young person to move abroad. I'm not completely sure, but I think after graduation if you liked HK you would have the opportunity to seek a job here.
    Thank you for the input! That is a great idea. I'm curious what the parameters on joining the university would be.
    This would provide a great way to form contacts while obtaining temporary visa.

    Quote Originally Posted by Scousebanana:
    If your long term ambitions lie more in commercial property development, have you tried getting a graduate entry role with one of the big property companies? You would probably have a better chance with one of the ones of Western origin where lack of Chinese is less of a constraint. I know both Hongkong Land and Swire Properties take graduate trainees, though the competition for these roles is intense.

    Otherwise, your best chance of getting a role at entry level would be through networking - do you know anyone already in real estate in HK? Also consider getting a role with an international real estate company with strong HK connections and working in the US for a couple of years then getting a transfer.
    I've been looking at the CBRE job listings, they have a good amount of positions listed where they only require "English". I may reach out to CBRE in the US and inquire if it would be better to transfer, or go in as a new hire in HK. In regards to the graduate trainees, I have not researched that type of position. Do the companies basically sponsor you to fulfill a graduate degree (while working for them)?

    I do not know anyone within the Real Estate industry yet, (in Hong Kong of course). I've attempted to reach out to a couple members on a different website, but have yet to receive a response. If I ever could get in touch with someone that is, that would be very helpful!

  10. #20

    I have some local friends with real estate licenses. Some are high school graduates, some have degrees from HKU, UST, PolyU, City, some have studied at universities overseas. Most were good enough with their businesses in their first and second years of career. They have very basic pay only as agents. Comission is the main income.

    The amount of english speaking clients, or the wealthy english speaking clients is low. Most profitable income come from the local or Mainland clients. Local companies are not interested to hire a westerner or overseas chinese due to different cultures and they don't want staff unable to read and write Chinese. Applicants should demostrate their Chinese level by a certicate for example HKCEE or HKDSE. It is very hard to compete with the locals fluent in both spoken and writen English, Cantonese and Mandarin.

    I also have a Chinese American friend as an agent of US properties, clients are HK and Mainland Chinese. What the clients like is his ability to explain things and deal with companies and people in fluent Mandarin, Cantonese and English. He is not the usual can speak Cantonese can't read Chinese type of Overseas Chinese people. And he was born and educated in HK, with US college education, with HK Permanent ID card and China Home Return Permit, obviously different case.

    Last edited by lighthse003; 30-09-2017 at 05:49 PM.