Lianjia, China’s leading real estate brokerage, slashed its sales commission and started charging both sellers and buyers rather than just buyers in response to surging listings of existing homes following Beijing’s easing of housing policies, reports Caixin.
Starting Tuesday, Lianjia cut its commission fee on property sales in Beijing from 2.7% to 2%, several agents from the brokerage confirmed with Caixin. Buyers and sellers will split the fee equally.