During the last half of this year, the local administration of industry and commerce plans to crack down on the real estate market, control the agencies, and curb illegal trading.
The administration, together with real estate market authorities, will take the following three measures to achieve this goal.
1. Increase regular supervision of real estate agency activities. Put a stop to businesses ooperating without licenses or professional certificates. Check and punish severely any agencies that are selling homes without following local home exchange center procedures.
2. Supervise real estate agent activities. Put an end to certificate borrowing.
3. Crack down on such illegal activities as forging contracts, flipping apartments or houses (buying then re-selling at an outrageous price), and swindling (using a fictitious name when signing a contract so as to charge the 1% service fee).