The performance of the real estate industry is in the doldrums, which is not only difficult for developers, but also for real estate intermediaries.
Recently, the news that q-room.com plans to close more than 40 stores in Shanghai has spread wildly in the industry. Rumors such as “q-room.com is in arrears with employees’ salaries” and “there is no money in the account” have also spread.
q real estate network Shanghai area “closure” event employee: Shenzhen “main battlefield” will not be affected temporarily
Recently, the Shanghai regional company of Q housing network is facing the issue of “closure”.
In an announcement entitled the implementation plan for the closure of Shanghai Yunfang Data Service Co., Ltd. (Draft), Shanghai Yunfang said that the company continued to suffer losses and was unable to maintain normal operation. In order to prevent further expansion of operating losses, the company decided that from now on, Shanghai Yunfang headquarters, in addition to retaining necessary personnel, urged other employees to go through resignation procedures within a time limit; All businesses of Shanghai Yunfang store will be suspended, and the stock business in the process of promotion can continue to be completed, or the contract can be terminated unconditionally after reaching an agreement with the customer.
In addition, the draft shows that the headquarters of q-room group plans to use the existing stores of q-room in Shanghai to give priority to the existing teams of Shanghai company, and encourage the existing teams of Shanghai Yunfang to participate in the operation of q-room in Shanghai. Some real estate agents and insiders believe that stores can continue to open, but they are not direct stores.
Business information shows that Shanghai Yunfang Data Service Co., Ltd. is 100% owned by Shenzhen Yunfang Network Technology Co., Ltd. (Shenzhen Yunfang), and Shenzhen Yunfang owns the brand of “Q room network”. In addition to Shanghai, people close to Q housing network told reporters that the Commission in Shenzhen of Q housing network was still not issued in January this year. In this regard, when the reporter asked the relevant person in charge of Shenzhen Q housing network brand for confirmation, the other party replied: “it is understood that the Commission in Shenzhen has been issued, and all official replies to the outside world should be subject to Hubei Guochuang Hi-Tech Material Co.Ltd(002377) .”
Some internal employees of Q housing network also told reporters that the business losses in Shanghai are relatively serious, the “main battlefield” in Shenzhen is not affected temporarily, and the normal wages and commissions are still paid normally.
former “troublemaker”
Q real estate, formerly known as Shihua real estate, is a real estate Internet platform with o2o mode as the core and real estate transactions as the main business. Its new broker model once caused a sensation in the real estate intermediary market.
In 2014, the mode launched by q-room.com at that time was to win over brokers and give brokers a commission much higher than the average level of the industry. The new mode of q-room network will release a commission ratio of 55% to 85%, and different sharing ratios correspond to different cooperation modes. In this mode, the traditional intermediary company has transformed into a platform with a large number of houses and customers, while the broker can carry out business independently through the platform without restraint, and thus obtain more profits.
At that time, this new model led to the boycott of former “allies”. In the Shenzhen market, Shenzhen Zhongyuan, Meilian, China Merchants, Haiwang, Hong Kong real estate and then Zhonglian real estate issued a statement, including that brokers who joined Q real estate after September 18, 2014 will be included in the “blacklist” of several major intermediaries and will withdraw from all real estate projects entrusted to Q real estate.
Also since 2014, the real estate intermediary industry, once regarded as a deep and difficult real estate intermediary industry, has been continuously penetrated by Internet enterprises. For a time, new real estate platforms such as SouFun, anjuke and 58 in the same city rose with the trend. However, later facts proved that stirring the lake water of the traditional intermediary industry with the Internet model seems to be a false proposition. It is always difficult to maintain the way of using the high commission of financing to absorb brokers and low commission to attract customers. The competition in the real estate intermediary industry has returned to offline stores in recent years, at least the integration of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) . Yan Yuejin, a well-known real estate analyst, believes that the advantage of o2o mode is asset light operation and relatively controllable cost, but the difficulty is that the current market is not highly dependent on such platforms and it is relatively difficult to expand business.
real estate intermediary industry suffered losses from many listed enterprises in the cold winter
According to the data, Shenzhen Yunfang Network Technology Co., Ltd., the main company corresponding to q-room network, is a subsidiary of A-share listed company Hubei Guochuang Hi-Tech Material Co.Ltd(002377) ( Hubei Guochuang Hi-Tech Material Co.Ltd(002377) . SZ).
In 2017, the A-share listed company Hubei Guochuang Hi-Tech Material Co.Ltd(002377) announced that it would purchase 100% equity of Shenzhen Yunfang by issuing shares and paying cash, with a transaction consideration of 3.8 billion yuan. Through this major asset restructuring, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) , originally mainly engaged in the R & D, production and sales of asphalt materials, has entered the real estate intermediary service industry across the border. In that year, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) ‘s revenue and profit increased significantly.
Data show that Hubei Guochuang Hi-Tech Material Co.Ltd(002377) operating revenue and profit increased significantly in 2017 and 2018. According to the announcement of Hubei Guochuang Hi-Tech Material Co.Ltd(002377) at that time, the overall operating performance increased significantly in 2017, mainly because the restructuring target Shenzhen Yunfang was included in the scope of the company’s consolidated statements since August 2017. The main reason for the growth of the company’s performance in 2018 was that the good operating performance of Shenzhen Yunfang led to the sharp increase of the company’s overall operating performance.
However, from 2020, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) performance began to decline sharply, and the net profit attributable to the parent company lost nearly 3 billion yuan in that year Hubei Guochuang Hi-Tech Material Co.Ltd(002377) the performance forecast released in January this year shows that the company expects the net profit attributable to the shareholders of the listed company to be RMB 900 million to RMB 1.3 billion in 2021.
As for the reasons for the pre loss of performance in 2021, Hubei Guochuang Hi-Tech Material Co.Ltd(002377) said that it was mainly due to the serious loss of the company’s real estate intermediary service business in the reporting period. First, due to the impact of policy regulation, the operating income of Shenzhen, the main source of profit, has fallen sharply; Second, the company continued the policy of increasing the proportion of broker’s Commission in the second half of 2020, and the relevant variable costs increased more year-on-year. Although the proportion of broker’s Commission was reduced in the fourth quarter, it had little impact on the decline of variable costs in the whole year; Third, in the first half of 2021, the company added about 400 stores and closed some inefficient stores, resulting in a large increase in relevant costs. In addition, the company also mentioned the impairment of goodwill, intangible assets (trademarks) and the impact of the provision for impairment of receivables.
In fact, in addition to the Q real estate network under Hubei Guochuang Hi-Tech Material Co.Ltd(002377) company, many other companies in the real estate intermediary industry have not achieved satisfactory operation and performance in 2021.
For example, another listed company Shenzhen Worldunion Group Incorporated(002285) ( Shenzhen Worldunion Group Incorporated(002285) . SZ) released the performance forecast for 2021, which shows that the company expects the net profit attributable to the shareholders of the listed company in 2021 to be a loss of 850 million yuan to 1.25 billion yuan.
Shell, a leading enterprise in the real estate intermediary industry listed in the United States, just made a profit in 2020 and suffered a loss again in 2021. In 2021, the company’s net loss exceeded 500 million yuan, turning from profit to loss year-on-year.
intermediary market ushers in great changes
According to the data released by Shenzhen real estate intermediary Association, in terms of institutional market share in 2021, Q housing network has a 9.5% share in Shenzhen’s second-hand housing market, ranking fourth. As a real estate brokerage company founded in Shenzhen, Q housing network maintains a high market share in Shenzhen.
In February this year, the number of transfer of second-hand houses in Shenzhen was 872, down 44% month on month, and the trading volume has fallen to the lowest value since 2008. The once popular second-hand housing market in Shenzhen has cooled down rapidly after the introduction of the reference price of second-hand housing. The current trading volume is enough to make the real estate agents feel a chill: This is called “more monks and less”.
According to the latest data released by Shenzhen real estate intermediary Association, the monthly per capita online signing of the industry was 0.07 sets in 2021, down 61% from 0.18 sets in 2020. Affected by the reference price policy of second-hand housing, the online signing volume of second-hand housing market continued to decline, and the monthly per capita online signing volume also continued to decline. In addition, under the “unilateral agency”, the requirements for real estate intermediaries are becoming higher and higher. According to the data released by Shenzhen real estate intermediary Association, a total of 63 brokers were blacklisted in the industry in 2021 due to illegal practice, of which 32 brokers were severely punished by the self discipline professional committee of Shenzhen Real Estate Association for “lifelong prohibition” due to serious violations.
The real estate industry and the intermediary agency industry have always been prosperous and lossy. With the drastic changes in the real estate market, the intermediary agency industry is naturally unable to survive. How to get rid of the pain of industry reshuffle is an important lesson for every real estate agency.
