by Macrealty Marketing Team | Jul 3, 2015 | Company, In The News
From politicians to bankers, charity mavens to retail entrepreneurs, these are the leaders who are having a big impact behind the scenes and at centre stage in British Columbia.
If you’re a reader of the business press—or any story featuring the power brokers in our midst—you’ll be struck by one thing above all else: the paucity of women. While some may argue that “them’s the numbers”—and yes, women are poorly represented in the boardrooms and backrooms of B.C.—the fact is that we in the media bear some responsibility. The evidence of powerful and dynamic women leaders abounds. It’s just not being reported as frequently.
That, in part, is why BCBusiness decided to do this survey of B.C.’s Most Influential Women: to put a distinctly female face on power and influence in B.C….
Lynn Hsu
President and CEO, Macdonald Realty
Influence: Taiwanese immigrant Hsu has helped turn Macdonald into one of the largest full-service real estate firms in B.C–and the gateway for Mainland Chinese investors.
The panel says: “Macdonald is far bigger than even the real estate industry realizes, in terms of the amount of transactions. They’re one of the largest residential brokers in B.C., and on the commercial side, the amount of real estate that they’re transacting–they’re doing deals that are as big as what Colliers or CBRE is doing.”
Read about the other 50 Most Influential Women in BC at BCBusiness
by Macrealty Marketing Team | Jul 2, 2015 | Company, In The News
Beyond Borders
Macdonald Realty’s Shanghai office is meeting the needs of its clients and bearing fruitful results
As seen in BCBusiness July 2015 issue.
As the demands of the BC real estate market change, realtors and their respective real estate agencies must react accordingly to stay in the game. For one agency, this meant thinking outside of the box and stepping out of its time zone.
When Macdonald Realty opened its office in Shanghai, China, last year, it was branded as “The Canadian Real Estate Investment Centre.” But Dan Scarrow, who manages the Shanghai office, says that his Chinese clients had their own words to describe it. Impressed with the office’s scope, they say that it covers “an entire dragon of services.”
Those services include residential resale, commercial sales and leasing, new development project marketing and property management. While American, Australian, New Zealand and European real estate companies had established offices in China, Macdonald Realty was the first company in China with a sole focus on Canadian real estate. The company decided to open the office as a response to their clients’ desire for better access to the Chinese market.
Scarrow is uniquely qualified to run the office. He has been working with Macdonald Realty for nearly 10 years, and has worked as an executive assistant for the CEO, and as a residential and a commercial agent. He is a born-and-bred Vancouverite, but he is half Taiwanese. “The upshot is that Mainland Chinese see me as a white Canadian, but I’m also able to communicate with them in Mandarin,” he says. “I guess you could say that, in China, I am an authoritative foreign curiosity and hence memorable.”
His company, says Scarrow, has several competitive advantages. “Our intimate knowledge of the market is what makes us uniquely valuable to investors here,” he says. “We are small enough to be agile, but big enough to provide a full range of brokerage, management and advisory services.”
Scarrow works with Chinese clients who are in the process of immigrating to Canada, with new Canadians and with pure investors. Those interested only in investment tend to look at new condos and commercial properties. “What resonates with investors in China is the perception of Canada as a safe and secure investment climate, in contrast with China’s robust, but volatile, environment,” says Scarrow.
In order to stand out in today’s highly competitive real estate market, Macdonald Realty has undertaken several innovative marketing strategies. As technology has made property information widely available to the public, Scarrow notes that the role of the real estate agent has shifted: from gatekeeper of information to interpreter and negotiator. To meet the demands of those roles, Macdonald Realty has been working with an outside training organization to offer all agents the exclusive Certified Negotiation Expert (CNE) designation. Macdonald Realty has also launched its own magazine called Macdonald Realty Luxury Homes, to help market its luxury home listings in Canada and in China. Produced by the company’s own in-house creative marketing team, the magazine has proven to be a hit.
But from his own experience, Scarrow says that the most important way for an agent to get ahead is to be a competent professional first. “Doing a fantastic job with one client will generate more long-term business than even the most successful email campaign,” he says. “Start with the people who know and trust you, do an unbelievable job for them and continue learning about how to be a professional from the good agents and managers around you.” Dan Scarrow manages Macdonald Realty’s Shanghai office sults just come a lot easier.”
This article was originally posted on BCBusiness, June 12th, 2015.
by Macrealty Marketing Team | Jun 9, 2015 | Company, In The News
The HGTV House Hunt is on once again! This year we are nominated under 3 categories, with 4 of our listings in beautiful BC. Tour amazing homes across the globe, vote for your favorites, and enter for your chance to win a $10,000 cash prize! And remember you can vote for your favorites once a day. Follow the instructions below to vote for Macdonald Realty Nominees for HGTV’s House Hunt 2015:
Step 1: Tour the homes in the category.
Step 2: When you’ve found your favorite, click “I’m Ready to Vote.”
Step 3: Choose your favorite by clicking “Vote.”
Step 4: Click “Continue to Next Category” to tour more homes.
A mix of contemporary style and country charm brings this spacious, eat-in kitchen to life. Charcoal gray cabinets and gray stone countertops blend seamlessly together, while a gray and white chevron tile backsplash breaks up the monochromatic space. The large island pairs with country-style barstools to provide additional seating for dining. Click here to vote for this listing as your favorite Amazing Kitchen!
Sprawling mountain views and a luxurious infinity-edge pool and spa, what’s not to love? Relax, unwind and take in the incredible views of the natural Fiord of Finlayson Arm and the Saanich Inlet. Click here to vote for this listing as your favorite Privacy, Please candidate!
Located on 25 acres of deeded land with a private 10-acre lake, the Huston Family Estate offers an unparalleled atmosphere with breathtaking views of the majestic Chilko Valley. Click here to vote for this listing as your favorite Privacy, Please candidate!
This backyard view of the home shows off the pairing of stone and neutral siding that were used for the exterior. The landscape and hardscape includes a small pond and evergreen trees. Click here to vote for this listing as your favorite International Homes candidate!
Thank you to our global partners Luxury Portfolio International for bringing attention to our amazing collection of luxury homes listed across British Columbia by our Macdonald Realty agents.
by Macrealty Marketing Team | Feb 24, 2015 | Community, In The News
When Vancouver-based Macdonald Realty dispatched Dan Scarrow, the agency’s vice-president of corporate strategy, to China last March to investigate the feasibility of launching a branch office in Shanghai, the assignment was initially only going to be for four months.
A year later, Scarrow, a second-generation Chinese Canadian who is fluent in Mandarin, is still there. The Vancouver Sun reached Scarrow in Shanghai by phone last week to discuss his progress, objectives and challenges in building a bridge for residential and commercial real estate investment between China and British Columbia as the new managing director of Macdonald Realty’s Canadian Real Estate Investment Centre in Shanghai.
Q When you first were dispatched to Shanghai at this time last year, it was for a four-month assignment to investigate opening up a Macdonald Realty branch in China. Why are you still there?
A We actually have ended up opening up an office here. We have a representative office over here in Shanghai now doing project marketing and commercial and residential prospecting for our Vancouver and British Columbia offices. We’ve branded it as the Canadian Real Estate Investment Centre, so it’s offering a one-stop shop for Chinese investors looking toward anything to do with Canadian real estate, specifically B.C.
Q Why did Macdonald Realty want a presence in China?
A It was sort of two-fold. The first one is that Chinese investors are becoming a bigger and bigger part of our market — both on the residential side and the commercial side. And after our investigation over here we found that there are no other Canadian [real estate] companies over here in China that actively do this, so we would be the first one.
Q What’s been the biggest adjustment living in China for you personally?
A Shanghai is a pretty easy city for an expat to get used to. I think that the rest of China would be a much more difficult adjustment, but Shanghai itself is a pretty cosmopolitan city with a pretty global outlook and a pretty robust expat community. So it’s not as difficult. The challenge, I guess, that everyone talks about is the pollution aspect. They talk about it here the same way Vancouverites talk about the rain.
Q What’s your mandate in terms of building links between commercial real estate in B.C. and the Chinese market?
A Our main mandate is to promote B.C. commercial properties over here in China. I think we all acknowledge that China has been growing. It has created the fastest-growing wealthy and middle class in human history, so tapping into that market I think is going to be increasingly important for Canada and Canadian companies over the next decades.
Q What’s the most common question you hear from Chinese clients interested in investing in British Columbia’s commercial real estate?
A The most common question actually isn’t about real estate. It’s with what is happening in immigration. The biggest question is what is Canada’s current immigration policy and what will it be moving forward, just because there have been so many changes to Canada’s immigration policy in the last few years, and I think everyone is a little bit confused as to what it will be moving forward.
Q Any unwelcome surprises or challenges doing real estate business in China?
A Not really. It’s been interesting in the last year because there were the big changes to the immigration program — the investor immigrant program in the middle of last year and continuing until today. And also with the collapse of oil prices and the subsequent drop in the Canadian dollar. That’s been another thing we’ve had to deal with, but more in a positive sense from our investors’ point of view because now Canada’s real estate market is seen as even cheaper than it was prior to that change.
Q In a blog post last year you wrote that wealthy clients in China are more interested in placing their children and a portion of their wealth outside of China than they are in immigrating themselves. Why do you think that’s the case, if it still is the case?
A It still is the case. If you’re a wealthy Chinese individual it’s likely because you have a large business still in China. China does not recognize dual citizenship and it’s just more difficult for you to actively operate your business without Chinese citizenship. So a lot of people, they’re not willing to give up their business so they’re not willing to give up their Chinese passport either.
Q Which areas of Vancouver’s commercial real estate market are your Chinese clients eager to get involved in?
A For a lot of our clients it’s hotels. But it’s an education process as well, letting them know which asset classes are involved or available in B.C. Hotel investment is more of an active business, so while we have a lot of hotel operator clients who are interested in buying hotels, if they don’t have that kind of experience we like to talk to them about some of the other opportunities that might be available. Some of the hotter ones would be street-front retail with redevelopment potential. That goes very quickly for us. We probably have 15 very serious-type buyers that would snap up products like that immediately, but we can’t find enough product for them. It’s a lot of investment-type product that has income right now but has development potential in five to 10 years.
Q What’s the next step for your operations in China?
A Right now we’re working with a couple of developers to promote their projects over here [in China] and so we’re doing project marketing and then also working with our residential agents to make sure the listings that we have are exposed to the widest possible audience. And finally — obviously — exposure of the commercial real estate realm. I think that’s really the big push right now. A lot of investors have already bought a home for themselves in Vancouver and they’re looking for ways to diversify their investment portfolio in Canada, and really the promotion of the commercial real estate, and the education of those buyers, is our next step.
This article was originally posted on The Vancouver Sun, February 24th, 2015. Written by Evan Duggan.
by Macrealty Marketing Team | Aug 21, 2014 | Company, In The News
Once again, for 2014, Macdonald Realty is number one on Business in Vancouver’s list of Biggest BC businesses owned by women. Lynn Hsu tops this list which in which businesses are ranked by total number of staff. Thank you to all of our Realtors and staff who make up this impressive number!
See all the rankings at Business In Vancouver.
