Thursday, September 29, 2022

Buffett's Berkshire, Chinese property portal team up

Buffett's Berkshire, Chinese property portal team up

BEIJING – Berkshire Hathaway HomeServices on Monday said it entered a marketing agreement with, China's largest international property website, to attract wealthy Chinese buyers looking to purchase homes in the United States.

The real estate affiliate of billionaire investor Warren Buffett's Berkshire Hathaway Inc said the agreement will allow the roughly 2 million monthly users of and to browse its franchisees' residential listings.

Gino Blefari, Berkshire Hathaway HomeServices' chief executive, in a statement said the Chinese are the leading buyers of U.S. property apart from Americans, and the agreement with will make it "much easier" for them to shop.

Berkshire Hathaway HomeServices may also be hoping to benefit from Buffett's popularity in China.

The 86-year-old "Oracle of Omaha" recently let Coca-Cola Co put his smiling likeness on cans of Cherry Coke, which he drinks often, in China.

He is also providing real-time translation only in Mandarin for the May 6 webcast of Berkshire's annual shareholder meeting and the firm is a large investor in Chinese car company BYD Co.

Berkshire's HomeServices of America Inc, the second-largest U.S. residential real estate brokerage, is the majority owner of Berkshire Hathaway HomeServices. –Reut