Chinese property market continues to be sluggish. In order to sell her house, Ms. Yang, a homeowner in Hangzhou, recently made an “unusual move” by inviting nearly 200 real estate agents to come in groups to view the house, sparking discussions online.
In recent years, the Chinese real estate market has been consistently slow, with prices dropping significantly. Second and third-tier cities have even experienced a “halving” of property prices. Investment bank Goldman Sachs recently predicted that by 2025, Chinese property prices will further decrease by 25%.
Against this backdrop, selling property is not easy for the public. According to reports from Hangzhou TV station, Ms. Yang, a homeowner in Yuhang District, has a 177.77-square-meter apartment for sale at a price of 6.96 million yuan. To expedite the sale, she advertised that “those who close the deal within 7 days will receive a reward of 18,888 yuan; those who do so within 15 days will be rewarded with 10,888 yuan.” Through this incentive mechanism, on March 6, Ms. Yang gathered around 200 real estate agents within three to five kilometers to visit the property in groups.
In order to motivate the real estate agents, Ms. Yang also prepared beverages, fruits, and game prizes at her home. A video circulated online shows Ms. Yang distributing raffle tickets to each agent at the door, then enthusiastically guiding them through the house, showcasing every selling point in detail, and presenting carefully prepared gifts during the viewing. Finally, Ms. Yang also organized a lottery game segment, creating a lively atmosphere.
Ms. Yang stated that her intention was to quickly sell the house.
One real estate agent surnamed Zhong who attended the viewing commented, “Eye-opening! I’ve been in the industry for over 5 years, and this is the first time I’ve encountered this type of property viewing.”
On March 7, the topic of “Hangzhou woman greeted by 200 real estate agents at home” trended on social media.
Netizens expressed various opinions, with some saying, “Such an innovative way of viewing properties.” “This homeowner is quite savvy! Now the real estate agents will have to work hard to market the house for her!” “The homeowner must be in marketing…” “In order to sell the house, one tries every possible means, reflecting the state of the real estate market…”
“Back then, in order to sell my house, I created a promotional page for the property, highlighted 12345 advantages, even made an H5 electronic link, then went to nearby shops one by one to recommend it. Although the deal was eventually closed by a different agent not from the vicinity, I can totally relate, haha.”