Govt Looking to Clean Up Real Estate Brokers

The government is tightening the screws on the real estate industry. The cartoon below shows the government reaching in to pop the bubble blown by the real estate broker.

Agents are accused of bait and switch, false listings, and raising prices with or without the knowledge of the homeowner.

"The housing just sold," look at the recommendations, "not a floor of the same size", "head of the household temporarily increase the price" ...... Recently, reporters during the visit, made the remarks heard many intermediaries. In this regard, an industry source told reporters that this is likely to be posted online store listing information is false. "First with low prices to attract consumers into the store to visit, and then to recommend other houses, which is a lot intermediary usual tricks." The sources said the price generally recommended listing than hang out online or stores posted housing prices by 10% to 20%.

In addition to the false listings, prices also put out false. Public Miss Qiu told reporters that she had Nanpu Island through intermediaries at a fancy set of over 110 square meters in Guangzhou Country Garden with more than 50 square meters and the roof top listings, list price is 1.7 million yuan. Subsequently, the other looked at a large agency, introduced the apartment and found list price some 1.8 million yuan, and some even up to 1.85 million. "The same set of houses, different mediation, even with a different list price, and the difference between the lowest and the highest price actually 150,000 yuan." Ms. Qiu this angry.

"This phenomenon is very widespread." In a large intermediary who has worked eight years in Guangzhou property consultant Ho revealed that the main reason is some intermediary privately raise housing prices, some owners did not know, but some did it with the permission of the owners. "Earn that part of the money, the owners and the agency will split it, usually 30-70, 40-60 or 50-50." Ho said.

New policies are being prepared to standardize listings and regulate the lightly controlled industry:

In order to standardize the intermediary market, the Ministry of Housing was in March disclosed that the agency will be to rectify the chaos seven areas, including normative agency listings published comprehensively promote the transfer of real estate network to sign contracts, real estate transactions strengthen financial supervision, strengthen real estate agencies record management, strengthen agency management and other employees.

Luke Hua said that now rectify and standardize the market intermediaries forthcoming implementation of the new policy, and this policy will be refined and workable.

To regulate the availability of information release, for example, the Ministry of Housing on the proposed agency listings prior consent of the principal to be released, but also to the local housing authority before it can be published listings verification; unified agency to be prepared the housing conditions manual, the basic situation indicated housing, water heating supporting case, ownership status, the listing price or rental property fees content; the transaction has been completed, it shall be promptly removed from the listings on the site, and shop.

iFeng: 中国将出台新政 房产中介或遇史上最严整顿