It’s important to know and speak Mandarin Chinese as a business person in the United States, especially within the real estate market. Did you know that the largest foreign investment and marketing for NYC real estate is China? In fact, The Washington Post says buyers from China ranked #1 among foreign nationals buying property in the United States for the fourth year in a row, with home sales to this demographic totaling $27.3 billion. Projections show Chinese investment in U.S. real estate could reach $50 billion by 2025.
If you’re in the real estate business and you frequently work with companies who must relocate their associates from China to live and work here, you can position yourself favorably by knowing Mandarin Chinese. How else will you communicate the amenities and price points of homes, apartments and condos? How else will you gain their trust, put them at ease with living in a brand new place, and maybe making a business partner or friend out of it all? You can’t risk losing a potential sale just because you couldn’t understand each other.
Knowing Mandarin Chinese while in America is good no matter what industry you’re in, though.
While it may be a no-brainer to learn Chinese when working or traveling abroad, many people fail to realize that knowing this language in our own country can present untold benefits in the American workplace.
One big thing hindering American companies – particularly start-ups – from growing quickly and moving forward is that they get caught up in hiring low-cost offshore developers, virtually assistants, writers and so on. That’s all well and good to save a few bucks, but the communication barrier is too great in order to keep a well-oiled machine growing. How can you communicate your needs to your freelancers and offshore accounts if you can’t speak their language? They likely know limited English, so it makes sense to meet them halfway. Being fluent in the language can bring even more benefits, as now you have opened up the lines of communication for more than just one small job at a time. Don’t underestimate the value of networking!
Unfortunately, many businesses, projects and start-ups fail because they don’t have the communication skills to find the contractors they want in China, and they certainly can’t work effectively with any contractors they DO find. Being fluent in Mandarin helps you interact smoothly with off-shore freelancers, leading to a good rapport and quicker project management because there is no language barrier involved.
If you don’t have the necessary language skills to communicate in Mandarin Chinese, you may be forced to hire America contractors, who come at a much higher price point. There goes your profit margin.
Knowing Mandarin Chinese in America also puts you at a higher level of importance if you work within an American firm that frequently works with overseas manufacturers, producers, and the like. Your value as an employee grows exponentially when you know the language of the country in which your company has frequent business dealings with. You will be chosen to sit in on meetings on your own turf, as well as meetings overseas that demand a business professional who knows Chinese.
Take the smart route: learn Mandarin Chinese – even if you never plan to leave the country. BRIC Language Systems can give you the tools necessary to achieve this.