On January 22, 2024, the Foshan Real Estate Association held a briefing on the Housing and Urban-Rural Construction and Water Conservancy Bureau of Foshan District 5 of Foshan Branch, representatives of towns and streets, 60 real estate brokerage institutions and their practitioners, 12 banks participating in the supervision of stock housing funds, A total of 120 people from 11 media organizations organized a training meeting on the publicity and implementation of the supervision policy of stock housing transaction funds in Foshan City, which was mainly to introduce the supervision policy of stock housing funds and the optimization of system functions in detail to enterprises and media on the spot, and promoted the convenience and safety of the stock housing transaction system, so that the general public can understand and prevent the risk of stock housing transaction funds, safeguard the legitimate rights and interests of the parties involved in housing transactions, and create an efficient, fast, standardized and convenient stock housing transaction mechanism.
Zhang Wu, member of the party group of Foshan Housing and Urban-Rural Development Bureau, said in his opening speech at the meeting that the demand for the real estate market in Foshan is shifting to the stock of housing, and the demand structure has shifted from the first-hand housing to the first-hand housing linkage stage, and in 2024, Foshan Housing and Construction will adhere to the high-quality development of the real estate industry to provide good services and guarantees, actively adapt to the new changes and citizens' housing purchase preferences, conduct in-depth research, and finally all real estate industry participants consciously follow and actively promote the new policy of the stock housing transaction.
In this training meeting, He Yezhu, chief of the real estate market supervision section of Foshan Housing and Urban-Rural Development Bureau, publicized the background and related content of the stock housing fund supervision policy for the on-site personnel, and there were many highlights in the new policy publicized by He Ke, and the editor summarized the following 7 points:
1. Online one-stop fund supervision service: Foshan stock housing online signature filing and transaction fund supervision system combined with the "Foshan Smart Real Estate" WeChat official account to provide online handling services, including but not limited to housing verification, contract signing, fund supervision and fund arrival after the transfer, all of which can be completed online one-stop. At the same time, an offline processing window will be set up to facilitate the elderly who do not have smartphones, compatriots from Hong Kong, Macao and Taiwan, minors and other persons who cannot be authenticated online.
2. Uniqueness of regulatory accounts: Foshan Housing Security and Real Estate Registration Information Center, as the only subject of regulatory accounts, can open special supervision accounts for stock housing transaction funds in the first batch of qualified banks in the list of 12 supervised banks to ensure the safety of transaction funds.
3. Humanization of capital supervision: In principle, it is required that the purchase price must be included in the fund supervision account, but the parties to the transaction are allowed to determine the supervision amount according to the contract, and the full amount of supervision will be explored and promoted in the future. However, the deposit part is not within the scope of supervision for the time being, and it is up to the buyer and seller to handle it themselves.
4. Raise the threshold for cancellation of supervision: Buyers and sellers who choose to cancel the supervision of funds can apply online and go through a strict offline review process to strengthen the security of transactions. In particular, for transactions facilitated by real estate brokerage institutions, it is emphasized that intermediaries are not allowed to induce buyers and sellers to give up capital supervision, and tripartite transactions are required to be fully included in the supervision of funds for stock housing transactions.
5. Clarify the responsibilities of the process: real estate brokerage institutions can handle electronic signatures through the "Yueshangtong" mobile phone application, which can realize the whole process of online signing of stock housing contracts, improve the efficiency of follow-up real estate tax payment and real estate registration, and shall not charge additional agency service fees, let alone evade capital supervision in violation of regulations. If the real estate brokerage institution does not sign or upload the real estate brokerage service contract through the "intermediary end" of the supervision system, the relevant commission claims will not be supported. The supervising bank bears the responsibility of verifying the wishes of both parties, strictly approving the cancellation of the supervision business, and providing timely feedback on the approval results, and at the same time using information technology such as face recognition and electronic signatures to ensure the safety and convenience of the supervision process.
6. Industry supervision and self-discipline: Foshan Real Estate Association actively promotes the use of the "Guangdong Commercial Pass" mobile phone application among brokerage institutions, organizes training to improve business capabilities, guides all real estate brokerage business to be carried out through the supervision system, and gives self-discipline punishment to non-compliance behaviors in a timely manner and reports them to government departments.
7. Strengthen the role of government functions: The housing and urban-rural development departments in all districts are to increase the extent of supervision of the conduct of real estate brokerage institutions and practitioners, and punish violators in accordance with laws and regulations, including but not limited to deducting points for creditworthiness, publicly notifying, suspending business authority, restricting their engagement in all types of real estate intermediary services, and so forth, and include information on their violations of laws and regulations in the enterprise credit information system, and implement joint disciplinary action mechanisms.
At the meeting, Ms. Zhou Qian, Executive President of Foshan Real Estate Association, Mr. Li Wei, Director of the Real Estate Agency Professional Committee of Foshan Housing Association, Foshan Leyoujia Real Estate Brokerage Co., Ltd. and Foshan Lianjia Real Estate Brokerage Co., Ltd. also spoke on the supervision of stock housing funds: President Zhou Qian expressed her firm support for the development of stock housing fund supervision business, and promised that Foshan Housing Association will actively cooperate with relevant departments, encourage member units to actively participate in fund supervision business, strengthen self-restraint and standardized operation, strengthen publicity and education and training on relevant policies and regulations, and advocate that the whole industry jointly help the development of stock housing fund supervision business. The director of the special committee and other enterprise representatives expressed that they will fully cooperate with the implementation, actively promote the development of the stock housing fund supervision business, actively reflect the market dynamics and industry demands, provide useful suggestions and opinions for policy formulation, and make positive contributions to the healthy development of the real estate market.
At the end of the meeting, Foshan Housing Security and Real Estate Registration Information Center and Chengdu Fanglian Cloud Code Technology Co., Ltd. conducted a comprehensive and systematic explanation from two aspects: capital supervision business process and operation process, to help brokerage institutions, practitioners, and other banking personnel improve their understanding of the stock housing fund supervision policy. At the same time, the operation of the fund supervision system was also demonstrated on the spot, guiding everyone to be familiar with the specific business system, improving the business level, and laying a good foundation for the promotion of follow-up related work.
This training meeting introduced in detail the new policies and specific implementation measures for the supervision of stock housing transaction funds in Foshan, clarified the rights and obligations of all parties to the transaction, the operation specifications of the regulatory body and the supervised bank, as well as the roles and responsibilities of industry self-discipline and government supervision, in order to effectively protect the rights and interests of home buyers and promote the healthy development of the real estate market by strengthening capital supervision. The new policy can give great confidence to home buyers, reduce the occurrence of capital disputes in stock housing transactions from the process, and make stock housing transactions more secure, comfortable and convenient.