Beijing Real Estate Market Cools

The latest problem for realtors: finding customers.

On Tuesday evening, 6:00, Yang Lei single broker hands with a small stack of leaflets, standing on the sidewalk outside the store intermediary. Occasionally encounter people who linger, Yang Lei always enthusiastically send a printed leaflet full of listings. "In fact, this big day on Tuesday, the station which issued leaflets is wasted effort." Yang Lei said that since entering in September, Monday to Friday working days, the store has never been traded, are also signing the occasional weekend. "Business Day leaflets, only to accumulate points customers." Over the past ten minutes later, his hands leaflets sent out only two, one of which was given a house just come up to ask how much of their own households.

Done a few years of the broker, Yang Lei's hands is not without old customers. Unfortunately, these customers are either waiting for a buyer of a particular size, or is wandering around, just the price of hesitation, etc. who do not give him the real deal. So, he thought every day: where to look for new customers.

In June and July, Yang said more than 100 groups would visit new properties. By early September, it was down to 50. Now, sometimes nobody shows up.

The article relies on data from the first 10 days of the month though, which was impacted by the military parade. That week opened with a sales drop of more than 20% according to data from realtor 我爱我家, with new home sales off 37.6% and existing home sales down 7.7%.

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