Complaints about real estate agencies increasing
February 29, 2016 Category Real estate, Weekly
Dodgy real estate agencies can make buying a new home a nightmare. The number of complaints about real estate companies made to the Shanghai Consumer Rights Protection Commission last year soared by 40% to over 790. More than 50%of complainants are unhappy with the quality of service they receive and many complain of dishonest practices. Agencies lie about prices and other information, and continue to advertise attractive properties that are already sold to lure potential buyers, the investigation found. The real prices of about 41% of apartments on the market are on average 23% higher than the figure stated by brokerages. Other concerns include agents not allowing buyers and landlords to meet, telephone harassment and the imposition of extra fees. Agencies are also less than honest on the condition of properties – 56% do not match the description offered. A Shanghai Commission of Housing and Urban-rural Development Management official said the government is looking at ways to improve regulation of the industry, the Shanghai Daily reports.
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