[photopress:property_e_house_China.jpg,full,alignright]The China Real Estate Top 10 Committee has named E-House China’s largest real estate agency and consulting company for 2007. This is the fourth year in succession. E-House also received awards for the best overall strength and as the best comprehensive service provider in China’s real estate agency and consulting sector.
The China Real Estate Top 10 Committee is a real estate market research task force jointly organized by the China Real Estate Association, the Enterprise Research Institute of Development Research Center of the State Council of PRC, the Institute of Real Estate Studies of Tsinghua University and the China Index Academy.
E-House also announced that on April 2, 2008, it will formally roll out the 2008 edition of its proprietary CRIC database system. E-House will offer both basic access to the database for a flat annual subscription fee and value-added services for premium fees to suit special needs of its customers.
The subscription service is offered to real estate developers, investors and other institutions in China’s real estate industry.
E-House China is one of the premier agencies which contracts with real estate developers in China.
Similar to the US counterparts RE/MAX or Keller Williams, E-House advertises and sells homes to individuals and collects a selling commission on each transaction. Currently the company generates the majority of its revenue from its primary real estate agency services. The primary services essentially denote that this is the first time the property in question has been sold on the open market.
Developers rely on EJ to sell these new homes, and, in a tightening market, they will be even more likely to retain a professional agency instead of trying to sell the properties themselves.
Sources: Source: Fox Business and Seeking Alpha.