China moves to reg­u­late real es­tate agen­cies

Fiji Sun - - World News -

Chi­nese au­thor­i­ties are for­mu­lat­ing mea­sures to strengthen reg­u­la­tions on real es­tate agen­cies, which have be­come a ma­jor source of cus­tomer com­plaints due to mis­lead­ing in­for­ma­tion. The Min­istry of Hous­ing and Ur­ban-ru­ral De­vel­op­ment is work­ing with re­lated de­part­ments on poli­cies to reg­u­late hous­ing list­ings of agen­cies and strengthen man­age­ment of bro­kers, vice min­is­ter Lu Ke­hua said at a press brief­ing. The min­istry also promised to im­prove credit in­for­ma­tion sys­tems in the sec­tor and step up su­per­vi­sion over real es­tate agency prac­tices.

Fabri­cat­ing hous­ing list­ings and ir­reg­u­lar fee charges are among the usual com­plaints filed by clients.

Ac­cord­ing to re­search from 2014, 43.8 per cent of 30,000 peo­ple sur­veyed in Bei­jing said they had en­coun­tered “bad be­hav­iour” from real es­tate agents when rent­ing apart­ments.

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