On March 20, news broke out that Chain Home Shanghai had suddenly taken down tens of thousands of second-hand houses!
According to the data on Chain Home’s official website, the number of second-hand property listings in Chain Home Shanghai last week were all about 38,000 sets, which suddenly decreased by about half on the day of March 20. The reporter learned from a chain home Shanghai store real estate agent, a large number of second-hand listings off the shelves with the new rules of Shanghai second-hand housing that began to be implemented last year.
According to the new rules, from December 15, 2020, the second-hand houses bought and sold in Shanghai must obtain the verification number and two-dimensional code representing the identity before listing, to truly sell the house in clear code. This reporter confirmed from several sources that the buffer period reserved for intermediary platforms by this new regulation has ended.
On the day of March 20, the number of second-hand properties in Shanghai suddenly showed only 16,000 sets.
Previously, the public data of Chain Home showed that from March 13 to 19, the number of second-hand property listings in Shanghai was around 38,000.
Figure according to the official website of Chain Home
This reporter found today on the official website of Chain Home that the number of second-hand property listings in Chain Home Shanghai resumed to more than 20,000 sets.
In just a few days, the number of second-hand listings in Shanghai has been reduced by about half.
The reporter called a store of Chain Home Shanghai and got the answer from the agent: “According to the relevant policy, now the landlord to shelve the listings, you need to upload the landlord’s ID card, real estate license or property transfer, many documents are not complete, or the house listing code has not been uploaded, the chain home platform extranet does not show, so there is a large number of listings off the shelves. “
The policy mentioned here refers to last November 16, the Shanghai real estate transaction center office issued the “Shanghai inventory housing source verification and information release operation specification (for trial implementation)” (hereinafter referred to as “Shanghai second-hand housing new rules”). The new rules are aimed at the second-hand housing market fake listings, low price “fishing” and other acts.
Shanghai Real Estate Transaction Center Office issued the “Shanghai Second-House New Regulations”
Why March 20?
According to the new rules for second-hand properties in Shanghai, the listed properties must be verified by the online filing system to obtain the property verification QR code and clearly marked.
Simply put, a landlord who wants to entrust an agency to help release information to sell a house needs to log into the government’s online filing system for inventory contracts and apply for property information verification.
After the verification, each set of listings will be given a unique “identity” QR code.
At this Time, intermediaries then through stores, websites and other types of platforms to release housing information, and must clearly identify the housing verification number and two-dimensional code.
When consumers look at the house, they only need to take out their cell phones to scan the code, they can find out the house’s floor area, floor, price, inspection time, brokerage stores and other information.
In addition, the new system will automatically compare information every day, and properties found to be unqualified will be automatically removed from the shelves to ensure the authenticity and timeliness of the listings.
The new regulation was officially implemented on December 15 last year.
Immediately after the introduction of the new regulation, the employees of Shanghai Chain Home’s second-hand and luxury home divisions received the Notice on Compliance Requirements for Listing Release.
The notice emphasized that if the new regulations are not implemented, the city transaction center will take regulatory measures to urge rectification such as: revocation of commission filing, interview, written warning, fine, online real estate website exposure, inclusion of integrity record, suspension of online signing key, etc.
Internal notice of Shanghai Chain Home
It is worth noting that the notice also mentions that unverified listings will not be displayed on Chain Home and Shell from March 20.
This also explains the sudden cut in the number of second-hand listings in Shanghai on March 20.
The end of the policy buffer period
A real estate agent of a store of Chain Home Shanghai told reporters that as the property documents gradually replenished and perfected, the listings will be restored to the shelves one after another, but there are some older landlords who have some difficulty in cooperating.
From last year’s November 16 policy release, to this year’s March 20 strict implementation, the industry said that the policy to the intermediary platform reserved buffer period has ended.
In addition, on March 19, the Shanghai Real Estate Brokerage Industry Association launched a self-regulatory initiative to all real estate brokerage agencies in Shanghai to regulate listing and information release: in addition to not listing and releasing unverified listings, listings with inflated prices should not be released.
Self-regulatory initiatives to regulate listing and information release
The company’s new policy is not only in Shanghai, but also in Hangzhou, where it was reported on March 12 that after the release of the “3.3” new property market policy, intermediaries have checked more than 100,000 listings and taken down more than 7,890 sets.
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