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15 July 2015

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58.com Partners with Real Estate Agents to Ensure Authentic Housing Listings

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BEIJING, June 13 (Xinhua) -- Chinese leading online marketplace operator 58.com has partnered with domestic real estate agent firms to ensure authenticity of its listings and improve development of the property brokering sector.

They vowed to ensure real estate posted on their platforms would be authentic, working to terminate the practice of users posting fake information.

The partnership also proposed standards to evaluate the authenticity of housing listings, and will pool its strengths to build an evaluation and monitoring system.

"Ensuring authenticity is essential for a win-win situation for the real estate industry," 58.com CEO Yao Jinbo said, adding that the company would continue to serve as a platform for the whole sector.

The web company also decided to establish a claim fund worth 100 million yuan (15.62 million U.S. dollars) to help address consumer complaints regarding fake posts.

The company's online marketplace now covers about 50,000 real estate brokering firms, 70,000 apartment buildings and it is estimated that over 30 million users seek housing information on 58.com and other similar platforms each day.

Source: Xinhua