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JD.com enters China’s second-hand housing market

CKN
minutes 2018/10/24 06:21:39
2,808
China's Financial News, China News ,JD

Oct 24, 2018 (China Knowledge) - E-commerce giant JD.com will be entering the second-hand housing market with partners including Chinese property firm 5i5j Real Estate Brokerage. The partnership aims to improve customer experience through verifying listings on its platform.

JD.com, which already has 82 developers and 35 service providers with its real estate department, provides more than 2,000 listings across 20 cities. Last October, the company announced plans to enter the property rental market. JD.com promises to do more than just apartment listing but also account for its customer’s safety.

The tech company will verify that listing on its platform comply with industry standards to avoid dangerous levels of formaldehyde. Furthermore, the company will also change lock and keys every time there is a new renter. 

5i5j commenced operations of JD.com yesterday, allowing users to find listing that have accurate terms and prices. 5i5j’s other partners include US-based Century 21 Real Estate and Beijing’s property search engine Zhuge. The company currently has 1.7 million apartments across 100 cities.

JD.com will use its technology, big data, and marketing strengths to enhance 5i5j’s efficiency. It will also provide operating tools to reduce costs and benefit consumers through branded store operations.

JD.com and 5i5j will offer discounts on brokerage fees during the Double Eleven shopping festival on November 11.

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