Nanning releases new regulations for real estate agents


Recently, Nanning Housing Security and Real Estate Management Bureau drew up “Notification on Regulation for Capital Supervision in Housing Stock Transactions (Draft Regulation)” (hereinafter referred to as the “Draft Regulation”), which is going to be implemented from September 1st, 2018 with a period of validity of 5 years.

According to statistics, in the current housing stock trading market, over 90% of the transactions are completed via real estate agents. However, due to lack of supervision in real estate transaction capital, the security of transaction capital for both buyers and sellers cannot be effectively guaranteed. In order to safeguard the lawful interests of both sides, and contain illegal activities of collecting and shifting transaction capital by real estate agents, the “Draft Regulation” has explicitly outlined code of conduct for real estate agents, forbidding them to collect housing stock transaction capital.

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