2/8/2018-7

The Bureau of Land Supervision will strengthen the regulatory agent rebate

The property market is hot, and new ones are sold in large quantities. Cases of complaints against estate agents have also appeared. The Estate Agents Authority (“the Lands Bureau”) received a total of 169 complaints in the first half of this year, representing a decrease of 8% as compared with the same period last year. However, the number of complaints against the promise of a rebate has increased by 67% to 15 cases. In the second half of the year, a new practice notice will be added to further regulate the practice of rebates.

A total of 169 complaints were received in the first half of the year

In the first half of the year, the number of complaints about second-hand residential properties accounted for 89 cases. The figures were similar to those in the first half of 2017. The number of complaints against first-hand residential properties accounted for 23 cases, a decrease from 37 cases in the same period last year. 38%. However, the number of individual complaint categories has increased, including the failure to fulfill the promise of rebates, from 9 in the same period last year to 15 this year, all involving first-hand residential properties. And misleading mortgage information has as many as 15 complaints this year, 1.1 times more than the same period last year.

In the first half of 2018, the Lands Supervision Bureau conducted 771 inspections at the first-hand property sales office, inspecting 907 agent shops and spotting 339 online advertisements. During the period, 49 cases were found to be illegal, 17 more than in the first half of last year. Among the 15 cases of breaches involving first-hand residential properties, including 12 cases of first-hand property sales offices.

Mr Leung pointed out that the number of agent fights increased from one case last year to three in the first half of this year, which seriously affected the image of the agency industry. Therefore, a consensus was reached with 32 developers and a charter was signed to improve the sale of first-hand properties. Sales order.

In the first half of the year, the Lands Supervision Bureau took action or dispose of 162 licensees, revoked 26 licences and suspended 13 licences. The two figures were increased by 11 and 5 respectively compared with the first half of last year.

Mr Leung said that in view of the increase in complaints about the rebate commitments and the different practices of the rebates, the SFC considers introducing a new practice notice in the second half of 2018 to further provide guidelines for the industry to follow in order to regulate the rebate. Reduce disputes.