On Legal Issues Of Real Estate Brokers Market’S Self-Regulation In China

After years of development and growth in China’s real estate brokerage industry, the basic fundamental principles and procedures are quite well established and solidified. The fast growth of the industry provides not only great convenience for purchase and/or lease of housing units, but also it lowers the risk for developers, cuts down the society trading cost, nurtures the market, enhances internal communication, and thus emphasizes the essence of real estate brokerage in a well-functioned real estate market. However, business ethic code on self-discipline within the industry has not stepped up to its game. As the market matures, it demands a proven self-discipline management to reach the further development stage. Currently the interrelated associations and parties in the industry are far from performing their designated duties as major self-discipline organizations. In addition, specific researches on such topic are rare to come by, mostly found in projects on market economics or executive management and so on. In this following article, the paper have performed analysis on the major problems in the existing self-discipline system based on associated law theories, as well as expected legal status and competency fallbacks of self-discipline organizations. Recommendations to further complete the self-discipline system in real estate brokerage industry are also attached.The main four sections of the article are:The first section goes over the fundamental theories associated with self-discipline system in the real estate brokerage industry and analyzes the basic concept, nature, characteristic, and pattern. It highlights the significance of the self-discipline system from the market’s perspective, and lays the groundwork for discussions and recommendations in the later sections.Second section focuses on the current status and existing problems of China’s real estate brokerage industry in terms of business ethics on self-discipline. From current industry progression, self-discipline group development, related government laws and regulations to the self-discipline system in details; all of which will be ingredients to the analysis, after which it will be applied to real world situations. From development and realistic practices, one can understand the underlying problem of the business code on ethics and self-disciplinary regulations, which consists the incompetent methods, unclear legal status, and inadequate overall supervision system of self-discipline on real estate brokerage industry.The third section of this article provides a comparison analysis between the self-discipline system of China and US, and how the latter inspired the existing regulations of the earlier. First part contains an analysis on the mainframe, organizational dynamic and detailed competency of the US real estate brokerage industry’s self-discipline system. One can conclude that the inspired solutions are: construct a formal and organized legal system; establish self-discipline organizations’ independent legal status; form an instant information-sharing system; improve current damage compensation system.The last section of the article investigates how to perfect China’s Real Estate Brokerage industry in terms of business policy on self-discipline.. Based on the analysis of the previous sections on the existing problems of ethics management in the real estate brokerage market, the article’s last section targets these specific problems and makes resolution and improvement suggestions and strategies. These existing problems can be resolved by balancing the establishment of self-discipline and executive supervision and by keeping conservative prediction on the outcome of the real-time supervision policy. By gaining a deeper understanding of the law, one can confirm that real estate brokerage self-regulatory groups can maintain an independent stance. Through formalized problem disputing procedure, improved executive efficiency and sufficient stable supporting fund, the overall general dispute settlement mechanism can be perfected.