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Austin Realtor reacts to proposed Chinese home buyer tires

Posted on 06/02/2023 by
Photo illustration of Rosalia Chiu with the city of Austin and circles in the background.

Photo Illustration: Lindsey Bailey/Axios. Photo: Courtesy of Rosalia Chiu

We caught up with Rosalia Chiu, who has worked as a real estate agent in the Austin market for 21 years, to ask her about proposed legislation that would bar Chinese nationals from buying property in Texas.

  • Born in Hong Kong, she moved to Austin in 2002 after a career in consulting and project management in Taiwan and Silicon Valley. She lives in Leander and calls her real job “retirement community service.”
  • She speaks Mandarin, Cantonese, Shanghainese and Taiwanese Hokkien — and at least half her clients are from Asian backgrounds, she tells Axios.

Why it matters: State Sen. Lois Kolkhorst, a Republican from Brenham, has proposed banning citizens, governments and entities from China, Iran, North Korea and Russia from purchasing property in Texas — and Gov. Greg Abbott has said he would sign the bill into law.

Between the lines: Tray Bates, vice president of governmental affairs at the powerful Texas Realtors association, says that “our members have concerns about the impact of this proposed legislation and the association is discussing those concerns with its membership, bill authors, and other stakeholders.”

How do you feel about this proposal?

“America is the land of freedom. Anyone should be able to buy a home. If they have the money, why not?”

Why do Chinese nationals buy in the Austin area?

“Many come to school here and some are investors, who have never lived there. Some want to buy a condo for their kids who go to UT — we call them kiddie condos. They’ll sell it when their kid graduates. Some are corporate executives who work with a company here, they like Austin, and they decide they want to buy a house.Or they come as tourists and want to buy property here.

  • “They’re not out to control the economy or something. They’re not scammers or terrorists.”

As a Realtor who handles Chinese buyers, this could harm your income, correct?

“This is about equal opportunity for everybody. I’m not opposed because of my bottom line.”

Category: Realtor
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  • Exploring the World of Antique Jewelry
  • The Health Risks of a Sedentary Lifestyle vs. Active Sports
  • The Future of Nutrition: Technology-Enhanced Eating
  • The Ultimate Kitchen Cleanup Guide for Home Cooks
  • Exploring the World of International Street Food

alternative ways to sell your house buy my house home realtor home sellers house buying companies house realtor houses how do you search by mls number? how to sell your home online how to sell your house by owner how to sell your own house my realtor national association of realtors realtor realtor.com find a home realtor.com florida realtor.com mi realtor.com official site realtor.com rentals realtor.com texas realtor definition realtor homes for sale realtor logo realtor md realtor nc realtor near me realtor net realtor on realtor one realtor pa realtor pronunciation realtors realtor websites sell home by owner sell home for cash sell home online sell home quick selling a house sell my home sell my own home steps to selling a house by owner the realtor the realtors what does a realtor do yahoo real estate listings

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