A new platform focused on wealth education and creation has been officially launched today (4 September), offering brokers the chance to connect with locally and overseas-based Chinese buyers interested in the Australian property market.
Called Grei, the website and mobile app has already organically built up more than 300,000 Chinese-speaking users since it first went live a year ago. It combines wealth education resources, financial management tools and access to solutions providers in the same online location.
Australian brokers can use the system to gain access to the 1.2 million Australian-Chinese population, as well as investors located in China and elsewhere abroad, and it presents a new lead generation opportunity for those targeting this segment of the market.
In an interview with
Australian Broker, Grei co-founder and CEO Philip Peng said the platform was originally built to provide financial planning and education – which is under-developed in China – to a growing middle class, which has increased to 100 million people.
“I wanted to build this platform to encourage the top professionals to share their knowledge with the new middle class. Before, they only serviced those with money because their time is very valuable but via our platform they can share their knowledge with the locals.”
The current version of the site has built up a solid collection of content partners and service partners, Grei director of strategic partnerships and brands Stella Li said.
Brokers listed on the platform will sit alongside selected entrepreneurs and thought leaders who will provide access to information and insights through articles, Q&As, webcasts, etc. Additionally, potential property investors can directly contact experts, including brokers, listed on Grei.
“Mortgage brokers can offer their knowledge via our model and can benefit our users by helping them understand mortgages and the mortgage process,” Peng said.
While Grei currently offers a brief introductory promotion where brokers can list for free, the standard listing price will be $2,500 per year. This fee will come with additional services, Li said.
“We’re going to provide certain services. For example, we’ll help brokers set up their profile and market to the Chinese audience. Even if they’re English speaking, there is no need to worry because we have our own team to tackle the language barrier,” she said.
The initial annual fee will include a minimum of 10 to 20 generated leads for brokers. If brokers can bring in even more leads, this will then incur a further ‘leads fee’. The exact amount for this is yet to be determined, Peng said.
Profiles allow brokers to produce their own curated content, conduct digital Q&A sessions with interested users and then get in touch with those users to generate leads. The Grei team will also follow up on any leads to review the quality of service.
Brokers will also get assistance in building their brand amongst Chinese buyers, Li said, plus gain access to online and offline events organised by the company.
“We run these offline events once every week or two weeks,” she added. “We will host events with our partners. For example, if a broker lends through our platform, Grei will host an event bringing the broker and users together.”
Peng said he was interested in working with the best mortgage brokers in Australia to help share their knowledge and reach out to the Chinese community.
“We look at criteria such as customer satisfaction and years in service, and then we will invite them to join,” he said, adding that interested brokers can also contact Grei directly.
Moves by the Chinese government to restrict foreign investment will not affect the platform as it targets Chinese communities outside of China, Peng said.
“This is a knowledge-sharing platform. For knowledge itself, there are no boundaries. Today, it’s not only about Australia but also about the USA and UK. We want to encourage best practices from developed countries to developing countries.”
While the platform will initially launch in Chinese here in Australia, Grei will also roll out an English language version early next year.
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