8 Ministries Announce Plans to Crackdown on Real Estate Agencies

A focus will be on false listing, as well as illegal or unlicensed entry into financial services.
iFeng: 住建部等7部门联合印发意见 加强房地产中介管理
Recently, the Ministry of housing construction and other seven departments jointly issued the relevant management advice, calling on verification listings have been sold or rented houses, to two working days from the date of signing the contract listings removal; agency does not meet the terms of trade can not be affordable housing and other housing to provide intermediary services; financial services and other services will not be binding and the like.

In addition, the establishment of business partnerships for a growing number of financial institutions and intermediaries, Opinions requirements: intermediary institutions to provide housing loan agency services, shall be the principal to choose financial institutions, financial services and other services may not be bundled; intermediaries not provide or in cooperation with other agencies to provide down payment loans and other illegal financial products and services may not be charged or disguised rebates and other expenses charged to financial institutions; financial institutions, intermediaries shall not cooperate in the real estate department for the record and to provide financial services.

Centaline Dawei, chief analyst analysts believe that a lot of real estate agency to extend the industrial chain, from the sale of second-hand housing rent to credit, a lot more like the structure of the financial intermediary company, it offers a range of dazzling financial derivatives service. Many intermediaries disguised monopoly of buyers choose the possibility of other financial institutions. After the monopoly agency is pushing up prices and the role of the will. Adjustment in these areas to improve the standardization conducive to the healthy development of the industry.

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