REAL estate agencies are now required to acquire valid housing offer codes before issuing pre-owned home ads, according to a recent notice from Shenzhen Real Estate Intermediary Association.

The move is aimed at cracking down on bogus home ads. The housing market has been plagued by fake home ads, many with nonexistent low-priced offers, put up by real estate agents to solicit potential buyers.

Real estate intermediaries and brokers will get a valid code after signing an entrustment contract with clients via the city’s real estate information system. This code makes them eligible to issue pre-owned home ads.

Shenzhen launched the new version of its online pre-owned home transaction system Nov. 19.

During the transition period from the system’s old to new version, those who have gained or will gain a code via the old version and have had or will have a paper entrustment contract before Dec. 31 will be regarded as having a valid code.

Otherwise, intermediaries will be considered as not possessing the required a valid code and will be banned from issuing related home sales information, according to the notice.

The city’s real estate market supervision regulation states that agencies need to release authentic home sales information and provide corresponding information codes.

The association has urged the city’s housing agencies to pull down unqualified home ads.

(Wang Jingli)