February 24 morning, the Shanghai Municipal Construction Committee interviewed play bubble shooter the person in charge of the chain of home. Preliminary findings, there is a chain store company-related non-standard business practices, the authorities have decided to launch a formal investigation, and asked the company to actively cooperate with the chain.
At the same time segment, Homelink Group in Shanghai market more stores to be found suddenly removed all the window advertising. As potential users a real estate agent, I had to go carefully stroked a stroke what happened?
I did not expect such a breaking pull, found the whole estate agency industry may be in for big muffled death.
Chain of home real estate financial landscape
Founded in 2001, the chain of home real estate agent industry as "old cannon child." The past two years, as a former industry benchmark, the chain of home repeatedly with action to prove its giant status. Even in the Internet wave of the impact it will still be able to grow into giants, because of its excellent management and service system, and can "advance with the times."
At present, the chain business is divided into three major blocks: Asset Management (Tintin rent, comfortable home), transaction management (new houses, second homes), financial management (chain of home finance, management, etc. through room), mutual promotion between the three.
Chain of home finance in the chain's home Internet real estate finance platform, known as "the first sale of real estate - Paying - Money 'real estate financial closed-loop mode.
Docking there are investors to invest on the financial needs of the chain of home Money Online, go online while docked in the chain of home buyers apply for business owners. The borrower mostly from the sale of the chain of family housing customers, mainly for short-term liquidity borrower generated during the real estate transaction, such as the owners need to sell to pay off the mortgage, the bank granted loans to buy a house because of customer lending is slow and can not pay the balance due, the owner change Housing, housing mortgages and the like.
In addition, the chain of family financial system as well as in Beijing Rongxin guarantees established in 2006 and began operations in 2015 through the processing room, by the Beijing chain of home finance in the Financial Investment Guarantee Co., Ltd. is responsible for operations, and management through the room Homelink Group is the third-party payment platform, in July 2014 the Chinese people's Bank issued a "pay business license", it is currently the only company licensed housing guarantee payment platform.
Room processing undertaken through the payment function is to provide housing for the play girl games second-hand housing buyers and sellers "managed funds", as well as support housing deposit, paying back the principal, property settlement deposit transfer Construction Commission and other managed funds, in order to ensure that second-hand housing transaction process financial security.
With this real estate venture known as the safest and most reliable asset, it looks "Internet real estate finance +" model is relatively low: real estate agency on the hands of the customer has several suites, for the month the number of "big data" is internet financial platform to do the strongest wind control when a reassurance, and the internet can provide a very important financial assistance for the new house, trading second-hand housing.
Vice president of the chain hotels, CFO Wei Yong told China Economic Net interview in 2015 when he said: "The current (Homelink) overall profitability of the financial services accounted for nearly 10% over the next five years to achieve 50% is possible." As of February 23, 2016, the cumulative amount of investment platform has more than 175.5 billion yuan, over 310,000 users, the highest single-day trading volume of nearly 200 million, the average daily volume of over 38 million yuan, the per capita amount of investment more than 160,000 yuan.
Since the financial and real estate is a natural fit, the chain of family financial products and can "make it easier to buy a house," and how authorities would have been pummeled it?
Things are changing
The problem lies in the chain of family himself.
Observant people can find in the chain of family financial management website, almost all products are Chinese and provide financial guarantees principal and interest guarantee letter. In fact, the financial guarantee business information in the letter, whose sole shareholder is the Beijing-linked real estate brokers.
(Related Business information look up information from the enterprise)
Li Tong room registered in August 2013, just as a single corporate identity is executive director of the chain of family property. Treatment room through the shareholders in financial guarantees and letters in Beijing and two Thai Investment Advisory Co., Ltd., and Beijing and the Thai Investment Advisory Co., Ltd. In addition to shareholders, Chairman Zuo chain of real estate, there are vice president Wang Yong chain of real estate group.
(Related Business information look up information from the enterprise)
According to the 2015 report shows the chain of family financial management, internet cumulative turnover of 13.8 billion, the average monthly turnover of over one billion, one-day financing of billions of dollars to finance two months to the chain of home computing standard one year, at least in the stock of more than 2 billion . While the financial letter as security, industrial and commercial registration display its registered capital of 500 million, the chain of family financial guarantee amount has already exceeded the company's registered capital guarantee.
In fact, before 23, 24, exposed violations chain of home, in addition to the media last September noted that the phenomenon of over-collateralization chain financial platform. Companies in the financial management of a general letter of guarantee is a contract to guarantee qualification, not having a financing guarantee qualified companies.
In the chain of family roles set before them, "Li room through a third-party monitoring platform in the form of cut real estate transaction. After signing the contract the buyer and seller, the first call processing room through direct payment, buyers and sellers can see the down payment has been recorded at the same time by the management of the housing through the housing property identification, can confirm the transaction, and then call the seller first payment in kind of the whole process by the management through the room to monitor the safety of funds, so that buyers and sellers are assured that transaction. "
And a recent People's Daily reports indicated that there may be reason to freeze funds housing through an opaque problems. Originally chain of home treatment room can only be undertaken through a "fund custodian," but due to the current related regulations still make strict limits on third party depository of funds, management function room through the actual burden is more biased in favor of "financial deposit tube".
You understand yet? That is, not only did the chain of home players, and when the referee, its platform end real estate finance, payment terminals, terminal and wire secured under all the business side of the company or set up their own direct management, this model led to its financial platform the risk is not dispersed in the event of bad debt, loan or guarantee company audit standards loosening up, or is funding strand breaks, financial risk chain will be systemic, and it is difficult card off risk conduction.
Since November 2014 Chain of family financial on-line, as of 2015 Q3, the chain of home finance cumulative investment reached 9.37 billion yuan, invested more than 27 million users, 142,700 yuan per capita amount of investment, duplication of investment was 80%, compared to the Bao investment balance to $ 400 per capita. Currently the chain financial business has accounted for 10% of total revenue, while 2017 is expected to contribute 20% of revenue, the chain of home finance CEO Wei Yong predict the next five years will provide financial services to 50% of net profit chain of home.
Although we are more or less on the Internet as the representative of the chain of home real estate finance have questioned, but after all, the chain of home finance is indeed achieved good results. Unexpectedly, just past the Lantern Festival, the chain of family was hurt.
Homelink wrong in what?
We turned up to see the fuse of the incident. According to media reports: the chain of family mediation first case of deception the reputation of Shanghai Huang real estate mortgage and landlord, in Mr. Huang Qi Cheng paid the down payment, the house was seized three successive courts. The innocent party Homelink, Mr. Huang will require parents to name the assets as collateral, in order to make credit guarantees before they agree to continue to handle the transaction.
After another "victim" Mr Chong to pay a deposit, before the signing of the formal agreement was only told that play Angela Games phase own house 167 million mortgage, real estate license can not handle, but this turned out to be by the mortgage intermediary chain to work on behalf of the staff lent home for its purchase of other property.
From these two cases, the chain of family company of Shanghai wrong in "a room two to eat," and move "processing room through" help-hosted precipitation funds.
In fact, the protection of traditional intermediaries between buyers and sellers is relatively low, the chain of home buyers and sellers and to strengthen the protection of the tripartite mediation, that is, buyers and sellers are requested funding in the chain stay home. The buyers and sellers are all involved in the chain of family funds precipitate a certain period of time, from this perspective, "Li Tong room" and "Alipay" secured Taobao transaction is entirely consistent.
Buyers paid a deposit and down payment on houses was "processing room through" third party accounts frozen, until after the end of the housing transfer will unfreeze the funds, transferred to selling customers to avoid problems caused by housing property buyer customers can not transfer, or because not enough money to purchase the buyer's customer, resulting in customer seller "money lost two room" and other phenomena occur.
But this account is actually secured through its wholly owned subsidiary in the financial letter. The letter is responsible for the financial chain of real estate transactions of all property rights verification, managed funds, mortgage loans and financing. Insiders said, "If the managed funds on deposit in the bank, bank transfer accept the instruction, and the platform will be able to cut off funding.
But the chain of family property as a medium of exchange, rather than through the chain of home treatment rooms and custodian bank as a financial payment platform, will form funds management room through precipitate, forming a pool of funds. In the case of insufficient information transparent, real-time monitoring of capital flows is difficult. "
Have huge amounts of money in precipitation, originally played on a "fund custodian" of the chain of home gradually start a "fund depository."
Some analysts said that the chain of home hand housing transactions in 2015 is expected to 400 billion, with an average of 40% down payment estimates, the year 160 billion down payment funds, the daily precipitation of funds 428 million, based on an average precipitation of 10 days each transaction capital calculation, Facilitation of 8% calculated in 2015 is expected to bring 93.8 million of income, of course, the chain of family income if the money is used to get his way will be even greater. Mr Chong case sufficient proof, Homelink really spent money pool of funds, to lend.
Frozen Games -
Juegos de Frozen -
Jogos de Frozen -
Permainan Frozen -
Игры Холодное сердце
Giochi di Frozen -
Frozen Spelletjes -
Gry Kraina lodu -
Elsa Spiele -
Jeux de Frozen -
Elsa Oyunlari
Although there are risks if their chain of family self-control is strong enough, it is now the financial system would not be so criticized. But in the face of commercial interests, to be honest, there are a few real estate agents hold back.
I am not against anyone, most real estate agents here, you are likely to step followed the chain of home
Internet banking concept is the Do not fire in recent years related to financial items and start-up companies have mushroomed to grow up. In 2013, the country's P2P platform is only 800, one year after 1613. By 2015, the cumulative domestic P2P platform has reached 4329.
Compared to other industries, as a high-quality real estate assets, combined with the financial well deserved, the risk is smaller. Major real estate or real estate brokerage firm will not miss this opportunity for development.
For example, Vanke and Minsheng Bank launched the "10,000-Man Po", launched green "real estate treasure," Peace House launched a "good loans", etc. In the real estate agent who, the Albert I love my family launched the "my home mortgage," SouFun's "world-prime" Homelink "home many treasures," LaSalle Bank's "home cloud loans," In addition the Central Plains, Q Housing Network, a lot of room, live-off, E-house China, etc., to engage in cross-border finance.
Real estate agent to do so much financial, Homelink is why only carry out public display, this is just a chain of family's "original sin" it?
Second-hand housing market has always been a national policy, transaction marketing aspects fully asymmetric information market, because real estate, transportation, floor, renovated second-hand housing price differences are quite different, ordinary home buyers is difficult to accurately measure the national policy on prices and the additional factors impact.
Second-hand housing market has been on the prevalence of the problem of false listings. Many real estate agent is the intermediary of the Internet channel only channel to attract users to a shop, hang out online listings are mostly false, so the real buyers want to eliminate second-hand housing prices opaque, only in the actual number of viewing to learn about the actual market price listings.
Both cases, the cost of capital chain to offer the same monthly interest rate of 1.6%, which is an annualized 19.2%, far more than four times the bank lending rates, but also higher than 18% of the loan interest rate ceiling previously specified. Although not clear evidence that links funding in Loaning process whether the violation, but at least from the village, yellow two cases, the financial risk of the Loaning money is still very high, and big profits.
Some analysts believe that the authorities require Homelink offline financial products, not simply to punish the chain of home, but out of the agency and some buyers' offer for off-site "exposed the dangerous behavior of the atmosphere. In the past, buyers purchase a house, the first suite of the leverage ratio of about 1: 3, the current buyers use "Homelink" financial leverage support and the off-site with the capital frequently 1: 7 serial leverage ratio: 5 or even 1.
By major publicity agency data can be introduced: the chain of home sales in about 210 billion yuan traded using leverage, housing the world about 200 billion yuan, I love my family about 800 billion yuan, the entire industry through intermediary "off-site with the capital "realization turnover purchase had more than 1 trillion yuan, such a fact caused by the Shanghai municipal government to worry about systemic risk outbreak.
With E Rent treasure lesson, local government concern is not without reason. Since the real estate transaction process, from start to finishing all purchase procedures, there is a certain cycle. In this period, real estate agent can precipitate a lot of money.
From the point of view of the chain of family events, driven by the interests, a number of real estate agents to seek to maximize the benefits of using its dominant position in the real estate aspects of the transaction, at the illegal operation. On the other hand, China's real estate agent market over the years has always been the lack of unified planning and guidance, and the lack of a unified management system integrity.
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