2015-01-04

Beijing Real Estate Agents Drop Their Fees Again

Early in December I posted Realtor Price War in Beijing, covering news that fees were down to 1.5%. They've fallen yet again, down to 1%. According to this report, foot traffic is down as well and inventories are up 30%. Some small realtors are even settling for a flat fee of about $1,250, which is well under 1% for homes in Beijing. Unless a miracle happens, 2015 will be the year of consolidation for this industry.

From Google Translate:
Yesterday afternoon, the reporter visited a number located in the Chaoyang District of intermediary companies found within each agency are relatively deserted stores. Located in North Bali Zhuang store near an intermediary, not even one customer, employee and some eat fruit, some in the chat.

In an intermediary stores called "Jody real estate", said the intermediary broker fee is 2.7% of the housing price, "but now discounted, some listings only charge 1% commission fee."

A staff member of the 21st century also said that 2.7 percent of the agency fee is the "official price" is actually charged only 1% -2%. In addition, the chain of family property, I love my family, said store employees, agency fees "There is room for discussion." The agency has publicly said it would cost to 1.5% of the "think of real estate", whose staff also said that the agency fee can also be discussed. In addition, some small intermediary promise even received only seven or eight thousand.

Visited the reporter found that the current intermediary gives each hand housing prices are lower than last year, but the amount of housing stock is much better than last year and more than 30 percent. Over expressed broker, intermediary fees are actually lower this year by second-hand housing turnover forced by the downturn.

iFeng: 北京中介为冲业绩暗降中介费 二手房涨幅小

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