|
1 Existing Homes to Take Over China's Housing Market |
|
|
1 | (10) |
|
1.1 The Conditions for a Booming Market of Existing Homes |
|
|
2 | (3) |
|
1.2 Why Will China's Existing Homes Take Over the Market? |
|
|
5 | (1) |
|
1.3 What Is the Potential for the Existing Home Market? |
|
|
6 | (5) |
|
1.3.1 The Three Sections in the Market of the Real Estate Brokerage Industry |
|
|
6 | (2) |
|
1.3.2 An Estimation of the Market Potential of China's Real Estate Brokerage Industry |
|
|
8 | (3) |
|
2 Changes in Pre-internet Real Estate Brokerage Industry in the US Over the Century |
|
|
11 | (20) |
|
2.1 The Characteristics of Real Estate Transactions |
|
|
11 | (1) |
|
2.2 The Roles of Real Estate Brokers |
|
|
12 | (2) |
|
2.2.1 Why Do People Hire Real Estate Brokers? |
|
|
12 | (1) |
|
2.2.2 What Essential Part Do Real Estate Agents Play? |
|
|
13 | (1) |
|
2.3 The Process of a Real Estate Transaction |
|
|
14 | (3) |
|
2.3.1 Choosing a Real Estate Broker |
|
|
14 | (2) |
|
2.3.2 Signing Listing Agreement |
|
|
16 | (1) |
|
2.3.3 Marketing the Homes for Sale |
|
|
16 | (1) |
|
2.3.4 Information Paradox |
|
|
17 | (1) |
|
2.4 Changes in the Pre-internet Real Estate Brokerage Industry in the US Over the Century |
|
|
17 | (6) |
|
2.4.1 Accidental Matching of Information Before 1880 |
|
|
17 | (1) |
|
2.4.2 The Appearance of Real Estate Agents and the Dominance of Open Listing Agreement During 1880--1950 |
|
|
18 | (1) |
|
2.4.3 The Prevalence of Multiple Listing Services From 1950 to 1995 |
|
|
19 | (4) |
|
2.5 How Does an MLS Connect the Links in the Industrial Chain of the Real Estate Brokerage Industry? |
|
|
23 | (3) |
|
2.6 Much Discussed Issues in an MLS-Dominant Market |
|
|
26 | (5) |
|
2.6.1 Smaller Brokerages and Increased Concentration Ratio |
|
|
26 | (1) |
|
2.6.2 Fixed-Percentage Commission: Reasonable or Unreasonable? |
|
|
27 | (1) |
|
2.6.3 Traditional Broker's Boycott Against Nontraditional Brokers |
|
|
28 | (3) |
|
3 What Changes Has the Internet Brought to the Real Estate Brokerage Industry? |
|
|
31 | (20) |
|
3.1 The Driving Force Behind the Transformation of Information Media |
|
|
32 | (1) |
|
3.1.1 The Three Periods in the Development of Information Media |
|
|
32 | (1) |
|
3.2 The Driving Forces Behind the Transformation of Information Media |
|
|
33 | (1) |
|
3.3 What Changes Has the Internet Brought to the Real Estate Brokerage Industry? |
|
|
34 | (7) |
|
3.3.1 Web 1.0 (1995--2005): Listing-Centered B2C Platforms |
|
|
35 | (1) |
|
3.3.2 Web 2.0 (Since 2005): User-Centered B2C Information Platforms |
|
|
36 | (5) |
|
3.4 Who Has Lost the Battle to the Internet? |
|
|
41 | (4) |
|
3.4.1 The Defeated Print Media and Brokerage Offices |
|
|
42 | (1) |
|
3.4.2 The Fall of Multiple Listing Services |
|
|
42 | (2) |
|
3.4.3 The Brokers' Weakened Role as Information Channels |
|
|
44 | (1) |
|
3.4.4 Reorganized Transaction Procedures |
|
|
44 | (1) |
|
3.5 The Future: Smarter Users to Be Expected |
|
|
45 | (6) |
|
3.5.1 Information to Be Made Transparent |
|
|
46 | (1) |
|
3.5.2 Smarter Users to Be Expected |
|
|
47 | (4) |
|
|
51 | (10) |
|
4.1 The Three Tricky Issues in the Real Estate Brokerage Industry |
|
|
51 | (1) |
|
4.2 The Impossible Trinity in the Real Estate Brokerage Industry |
|
|
52 | (3) |
|
4.2.1 The UK Scenario: Open Listing Without Multiple Listing Services |
|
|
53 | (1) |
|
4.2.2 The US Scenario: Exclusive Right-to-Sell in Combination with Multiple Listing Services |
|
|
54 | (1) |
|
4.3 The Chinese Version of the Impossible Trinity |
|
|
55 | (1) |
|
4.4 Can the Impossible Trinity Be Solved in China? |
|
|
56 | (1) |
|
4.5 What Must Be Done to Solve the Impossible Trinity in China? |
|
|
57 | (4) |
|
4.5.1 Monopolizing the Listings |
|
|
57 | (1) |
|
4.5.2 Sharing the Listings Without Revealing Client Information |
|
|
58 | (1) |
|
4.5.3 Enforcing Stricter Control and Regulation |
|
|
58 | (1) |
|
4.5.4 Developing a Business Ecosystem |
|
|
59 | (2) |
|
5 Why Does the Internet Impact China More Tremendously? |
|
|
61 | (6) |
|
5.1 Monopoly Over Active Listings |
|
|
62 | (1) |
|
5.2 Traditional Brokerages' Market Share and Their Capacity to Handle Offline Procedures |
|
|
63 | (1) |
|
5.3 The Size and Professionalism of the Brokerage Talent Pool |
|
|
63 | (2) |
|
5.4 Centralization and Standardization of Homes |
|
|
65 | (1) |
|
5.5 The Speed of Mobile Internet Penetration |
|
|
65 | (2) |
|
6 Zillow---Online Media Tycoon in US Real Estate Brokerage Industry |
|
|
67 | (18) |
|
6.1 Zillow---The Largest Online Information Platform in US Real Estate Brokerage Industry |
|
|
68 | (5) |
|
6.1.1 The "Genes" that Zillow Carries |
|
|
69 | (1) |
|
6.1.2 The Market Zillow Has to Deal with |
|
|
70 | (2) |
|
6.1.3 The Nature of Zillow: The Biggest Real Estate Media Company in the US |
|
|
72 | (1) |
|
6.2 How Does Zillow Reorganize the Industrial Chain of the Real Estate Brokerage Industry? |
|
|
73 | (6) |
|
6.2.1 Dual Strategy: Free Access for Users + Subscription for Paying Real Estate Agents |
|
|
74 | (1) |
|
6.2.2 Home Valuation---A Path Way to an Active Database |
|
|
74 | (5) |
|
6.3 What Is the Potential for Zillow? |
|
|
79 | (6) |
|
6.3.1 A Popular Belief: Zillow with Huge Potential |
|
|
80 | (2) |
|
6.3.2 Popular Belief Debunked: Zillow's Potential not as Great as It Seems |
|
|
82 | (3) |
|
7 Redfin---A Developing Vertical e-Commerce Model |
|
|
85 | (16) |
|
7.1 Redfin---A Disruptor of the Real Estate Brokerage Industry in the US |
|
|
88 | (4) |
|
7.1.1 A Media Company Mating with an e-Commerce Company |
|
|
88 | (1) |
|
7.1.2 Redfin: An E2E e-Commerce Focusing on User Experience |
|
|
89 | (3) |
|
7.2 What Is Redfin's Comparative Advantage? |
|
|
92 | (2) |
|
7.2.1 Adequate Traffic Base |
|
|
92 | (1) |
|
7.2.2 Complete, Up-to-Date and Accurate Listing Information |
|
|
93 | (1) |
|
7.2.3 More Efficiency with Lower Commission |
|
|
93 | (1) |
|
7.3 Why Does Redfin Develop Relatively Slowly? |
|
|
94 | (2) |
|
7.3.1 The Strong Opposition from Traditional Real Estate Agents |
|
|
94 | (1) |
|
7.3.2 Inadequate Financing |
|
|
95 | (1) |
|
7.4 Why Will Redfin Eventually Move into a Fast Lane? |
|
|
96 | (1) |
|
7.5 Why Will me Chinese Version of Redfin Rise and Thrive? |
|
|
97 | (2) |
|
7.5.1 E2E: The Key to Better User Experience |
|
|
97 | (1) |
|
7.5.2 E2E: The Only Business Model that Generates the Last-Second Economy |
|
|
98 | (1) |
|
7.5.3 A Revelation to Investors: Good User Experience Over Good Business |
|
|
99 | (1) |
|
7.6 Is It Possible for Real Estate Brokerages to Transform into E2E e-Commerce Companies? |
|
|
99 | (1) |
|
7.7 Is It Possible for Online Media Companies to Transform into E2EE-Commerce Businesses? |
|
|
100 | (1) |
|
8 The Falls and Turns of Real Estate Media |
|
|
101 | (18) |
|
8.1 The Rise of Real Estate Portals in the Personal Computer Age |
|
|
102 | (4) |
|
8.1.1 Two Structural Shifts: Eyeballs and Advertising |
|
|
102 | (3) |
|
8.1.2 Revenue Source of Real Estate Websites: Providing Traffic and Building Professional Profiles |
|
|
105 | (1) |
|
8.2 Move---The First Real Estate Portal in the US and the World at Large |
|
|
106 | (4) |
|
8.2.1 The 3C Model: Listing Information as the Cutting Edge |
|
|
107 | (2) |
|
8.2.2 The 3C Model: Supporting Real Estate Agents |
|
|
109 | (1) |
|
8.3 Move---A Fallen All-Star Stock |
|
|
110 | (3) |
|
8.3.1 From Success to Failure |
|
|
110 | (1) |
|
8.3.2 Internal Reason: Slow Growth of User Base |
|
|
111 | (2) |
|
8.4 External Reason 1: The Highly Competitive and Decentralized Online Advertising Market |
|
|
113 | (1) |
|
8.4.1 External Reason 2: The Strong Community of American Real Estate Agents |
|
|
113 | (1) |
|
8.5 How Should China's Real Estate Media Transform Themselves? |
|
|
114 | (2) |
|
8.5.1 Listing Information |
|
|
114 | (1) |
|
8.5.2 Neighborhood Information and Home Valuation |
|
|
114 | (1) |
|
8.5.3 Evaluation System for Real Estate Agents |
|
|
115 | (1) |
|
|
115 | (1) |
|
8.6 The Pathway to the Rise of China's Online Real Estate Tycoons |
|
|
116 | (3) |
|
8.6.1 The Courses of Development |
|
|
116 | (1) |
|
|
117 | (2) |
|
9 How Should China's Real Estate Brokerages Transform Themselves? |
|
|
119 | (12) |
|
9.1 The Former Homelink---A Brokerage Based on Information System |
|
|
119 | (7) |
|
9.1.1 Homelink as a Brokerage |
|
|
120 | (3) |
|
9.1.2 Homelink as an IT Company |
|
|
123 | (3) |
|
9.2 The Future Homelink---An Internet-Based, Data-Driven Broker's Platform |
|
|
126 | (5) |
|
9.2.1 What Is an Internet Platform? |
|
|
127 | (1) |
|
9.2.2 What Is an Internet-Based and Data-Driven Real Estate Platform? |
|
|
128 | (3) |
|
10 Are the Sharing Economy and the Maker Economy Here to Stay? |
|
|
131 | (6) |
|
10.1 Airbnb: A Benchmark for Home Sharing Economy |
|
|
132 | (2) |
|
10.2 We Work: A Benchmark for Co-working |
|
|
134 | (3) |
|
10.2.1 WeWork Operating Model |
|
|
134 | (1) |
|
10.2.2 How Did WeWork Obtain High Price Difference |
|
|
135 | (1) |
|
10.2.3 Risk and Valuation of WeWork |
|
|
135 | (2) |
|
11 How to Build a Data Ecosystem for Real Estates? |
|
|
137 | (8) |
|
11.1 Users' Changing Demands for Property Data |
|
|
138 | (1) |
|
11.2 What Home Valuation Service Is Expected? |
|
|
138 | (2) |
|
11.3 Upgrading Home Valuation Tools and Operating Systems |
|
|
140 | (1) |
|
11.4 The Trends in Home Valuation Service |
|
|
141 | (1) |
|
11.5 Building a Multi-source and Multi-dimensional Data Ecosystem |
|
|
142 | (1) |
|
11.6 The Internet + Valuation = ? |
|
|
143 | (2) |
|
12 Long-Term Apartment Rentals for Youth---A New Frontier |
|
|
145 | |
|
12.1 The History of Long-Term Apartment Rental |
|
|
147 | (2) |
|
12.2 The Industrial Chain of Long-Term Apartment Rental |
|
|
149 | (1) |
|
12.3 The Target Markets of Long-Term Apartment Rental |
|
|
150 | (2) |
|
12.3.1 High-End Market (Including Medium and High End Market) |
|
|
151 | (1) |
|
|
152 | (1) |
|
|
152 | (1) |
|
|
152 | (2) |
|
12.5 Individual Apartments |
|
|
154 | (4) |
|
12.6 Apartment Blocks Versus Individual Apartments |
|
|
158 | (3) |
|
12.7 Potential Problems and Their Solutions in Long-Term Apartment Rentals |
|
|
161 | (1) |
|
12.8 Secular Trends in Long-Term Apartment Rental |
|
|
162 | (1) |
|
12.9 The Future of China's Long-Term Apartment Rental---A Prediction Based on EQR's Development |
|
|
163 | |