Agency complaints decreased by 28% in 306 cases last year
The Estate Agents Authority announced that a total of 306 complaints were received last year, a decrease of 28% year-on-year, of which 47 were related to the first-hand building and 45% year-on-year. At the same time, 28 complaints related to the agent’s failure to fulfill the rebate promise. The local supervision bureau stated that the returning servant was a commercial operation and did not intend to interfere.
Local Supervision Bureau: Refunds do not interfere
According to the Estate Agents Authority, a total of 306 complaints were received in 2018, a decrease of 28% compared with 2017. The most important types of complaints involved were 69 cases of improper handling of provisional sale and purchase agreements or leases, and inaccurate or misleading provision. Sexual property information, involving 35 cases.
As regards the current sale of first-hand flats, common agents have “returned commissions” to customers. Last year, they also received 28 complaints from agents who failed to fulfill their promises. Liang Yongxiang, chairman of the local supervision bureau, said that the phenomenon of rebates is no secret. The local supervision bureau will not arbitrarily prohibit commercial activities. Whether the agency provides concessions should be adjusted by the market itself, but if the agency promises to provide concessions, it must be honored.
50% reduction in complaints about sales order
At the same time, there were new agents in the new market. There was a dispute between the agent and the developer on the commission. Liang Yongxiang also said that the commission level should wait for the agent and the developer to discuss it on their own. The chief executive of the bureau, Han Yuping, pointed out that the local supervision bureau would not set a commission level because of the opportunity to damage competition.
In addition, the SAR Bureau conducted a 152 cases of irregularities in the past year. Among them, 16 cases of first-hand property sales point order problems were recorded, a decrease of 50% year-on-year. This was mainly due to the introduction of the first-hand property sales chart agreed with the developer last year. And the practice notice issued by the authorities.
Last year, there were three incidents involving real estate agents. Han Yuping revealed that two of them were being processed, while the other one was completed. The agent was suspended for one month.
The number of complaints about the sale of overseas properties by licensed estate agents increased by 36% from 11 in 2017 to 15 in 2018. According to the Administration, two of them involved the unfinished buildings in the United Kingdom. The remaining complaints were that they did not fulfill the promise of providing parking spaces and had no title certificates.
Mr Leung pointed out that the adjustment of the property market this year is also a consolidation period for the industry. The industry can make good use of this year to adjust and improve the areas that have not met the standards.