JD.com this week announced a partnership with one of China’s biggest housing brokers, 5i5j, to make it easier for the nearly 500,000 monthly visitors to China’s second largest ecommerce player to buy and lease homes online.
The two parties signed a strategic cooperation agreement on Monday promising to work together to share data and create verified listings of second-hand homes and rental housing.
One day later, Beijing 5i5j Real Estate’s flagship store opened on JD.com, providing listings of second-hand homes in 13 cities, including Beijing, Shanghai, Changsha, Hangzhou, Nanjing, Nanning, Chengdu, Suzhou, Tianjin, Taiyuan, Wuhan, Wuxi, and Zhengzhou.
Renting a Home on Your JD.Com Account
The new partnership enables JD.com users to lease homes via 5i5j.com’s online store, and pay their monthly rent directly through their accounts on the ecommerce platform. Members of the site’s JD.com Plus premium service can get 20 percent off on brokerage fees when they buy second-hand apartments through the newly launched store, as well as in 5i5j’s 3,500 offline shops in 17 cities.
According to the announcement by 5i5j on Monday, JD.com will also harness its big data resources and online network to streamline the online home search process and make it easier for web users to find their dream homes. In 5i5j’s newly-launched online shop on JD.com, the new partners indicated that all listings for second-hand housing and rental units are guaranteed to have accurate pricing and other terms.
To contribute to the partnership, 5i5j also indicated that it is transferring some of its most successful brokers to serving customers through the online store. Via the online portal, the brokerage says that it enabling potential homebuyers to browse listings of second-hand housing and arrange site visits of properties, as well as handling documents for purchases and rental transactions.
The two parties said that, through the new platform, they will also offer extra discounts on commission fees and coupons for buying second-hand properties during the country’s Double-11 shopping festival on November 11th.
JD.com’s Business in Real Estate Section
JD.com first stepped into the real estate market last October, when the technology giant created a property section on its online retail website.
At present, JD.com’s real estate shop, realestate.jd.com, gives visitors access to listings of homes from 82 property developers, including Country Garden, Vanke, Sunac China Holdings. One year after it first opened, the online real estate portal now gives lists new homes in some 2,027 real estate projects in over 20 cities.
Regarding its role in the real estate sector, the online titan said it will not get involved in real estate development, but will focus on being service and platform provider for the industry.