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Regulatory authorities have taken action to standardize real estate brokerage services and pilot the "direct sale" of second-hand houses in multiple locations

Time：2023-05-10 10:31

Yesterday (May 5), the Ministry of Housing and Urban-Rural Development and the State Administration for Market Regulation issued the Opinions on Regulating Real Estate Brokerage Services. The Opinions regulate real estate agencies from ten aspects, such as excessive fees charged by taking advantage of their dominant market position, unspecified prices, bundled charges, and abuse of customers' personal information.

The Opinions make it clear that institutions that provide agency, intermediary and other brokerage services for the sale of newly built commercial housing and the sale and leasing of stock housing shall file with the local housing and urban-rural development department in accordance with regulations. Housing and urban-rural development departments at all levels should comprehensively carry out real-name registration of brokerage practitioners, strengthen the management of brokerage practitioners, and accept social supervision.

The Opinions point out that the brokerage services provided by real estate brokerage institutions consist of basic services and extended services. Basic services are a package of necessary services provided by real estate agencies to facilitate housing transactions, including providing information on housing customers, taking customers to view houses, signing housing transaction contracts, and assisting in real estate registration. Extended services are additional services such as agency loans provided by real estate agencies entrusted by the parties to the transaction. Each service can be provided separately. Brokerage institutions shall publicize service items, service content, and charging standards in places or channels such as stores, websites, and clients, and must not mix prices and bundled charges. Before charging fees, a real estate agency institution shall issue a list of fees to the parties to the transaction, specifying the standard of fees and the amount of fees, which shall be signed and confirmed by the parties.

At the same time, the Opinions point out that real estate brokerage institutions should reasonably reduce the fees for housing sales and leasing brokerage services. Encourage the implementation of tiered pricing according to the principle that the higher the transaction price and the lower the service fee. Guidance is shared by both parties to the transaction for brokerage service fees. All localities are required to establish and improve housing transaction management service platforms, and strengthen the management of trading housing, real estate brokerage institutions and practitioners. Encourage the provision of convenient services such as housing verification, housing release, and online contract signing and filing to transaction parties through the housing transaction management service platform.

Establish a housing transaction management service platform and pilot the "direct sale" of second-hand houses in many places

The "Opinions" released yesterday also mentioned that municipal and county housing and urban-rural development departments should establish and improve housing transaction management service platforms, and encourage parties to provide convenient services such as housing verification, housing listings, and online contract signing and filing to the parties to the transaction through the platform. At present, some regions in China have launched relevant platforms, and both parties can directly conduct second-hand housing transactions through the platform.

In April this year, the information release platform for stock housing in Daxing District, Beijing was launched. Residents of Daxing District of Beijing can upload their housing information independently, and buyers who meet the purchase restrictions can browse the listing information through the platform, contact the seller directly, and make transactions. It is understood that the platform has completed information verification before public release to ensure that the listing is true and valid. At the same time, the platform provides functions such as map house search and condition filtering, which is convenient for buyers to retrieve information.

Zhao Xiuchi, Professor, School of Urban Economics and Public Administration, Capital University of Economics and Business: It is a good thing for the people, because the establishment of this platform enables (buyers and sellers) to directly transact, reducing transaction costs and improving transaction efficiency.

The reporter learned that due to the short online time of the platform and the limited listing to Daxing District, Beijing, the current number of listings is small. Zhejiang, Hangzhou, Ningbo and other places have also launched platforms with similar functions. Industry insiders pointed out that the establishment of such a housing information release platform is conducive to breaking the monopoly of housing and giving full play to the role of market competition. However, the second-hand housing transaction process is more complicated, and professional intermediaries and practitioners also play an important role in property rights investigation, price discovery, transaction negotiation, etc.

Yi Chengdong, Professor, Department of Urban and Real Estate Management, Central University of Finance and Economics: In addition to information acquisition and communication between buyers and sellers, second-hand housing transactions also include procedures such as applying for loans, unmortgages, transfer transactions, and paying taxes. The government-led stock housing trading platform offers buyers and sellers a new option, but it is not "de-intermediary".

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