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Fake information, prices and overcharges among rampant tricks by real estate agencies: watchdog
Online Edition
SOME real estate brokerages were found to trick buyers with fake information and prices of properties and charge extra fees, the Shanghai Consumer Rights Protection Commission said today.
The information of some already sold properties was still put online to lure buyers and the real prices of about 41 percent of apartments on sales are higher than that was claimed by brokerages, an undercover investigation by the commission found.
A resident surnamed Huang paid 2.8 million yuan in August as down payment for a 4 million yuan apartment in Hongkou
District under the service of Lianjia, Shanghai’s largest real estate brokerage, and the apartment on mortgage was frozen by court later because the landlord couple owed 150 million to banks due to failure in business.
Huang was told by the salesperson of Lianjia that the landlord had good financial situation with the husband owning several companies and the couple sold the apartment to buy a better one before signing the contract.
"It is a true nightmare for me," he said.
The real conditions of 56 percent properties are different from brokerages' promotion information.
"An apartment looked exquisite and clean on photos turned to be shabby and old, and another apartment said to be in the center of a residential complex is actually close to the roads," said Yang Qing, a commission official.
The number of complaints over real estate brokerage service received by the commission soared 40 percent last year.
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