1 on 13, Shanghai飘起this year’s first snow. Zhang’s Shanghai创辉rental companies (that is, rental创辉Group Co., Ltd. Shanghai Branch), it seems like snow fell on the floor of the same quietly dropped.

Zhang mid-2007 from another real estate intermediary创辉switched to video, as Shanghai’s Minhang District, a company manager. “It’s a very attractive salary, recruitment notices are often so written: ‘basic salary + commission + benefits + bonus + subsidies’. “Zhang told the” Business News “, but recently, the company in Shanghai about nearly 200 stores, almost all closed overnight,” a large number of employees do not work, basic, and are讨薪. In my example, 11,12 last month’s salary has not yet issued, of which the arrears of wages in December had more than 4000 pieces. “

创辉rental once the country is determined to open shop in 3000, so the domestic real estate intermediary industry,” Wang stores “and the eventual realization of the listing. Shanghai Changning Road, No. 1828,创辉rental Shanghai headquarters, the first of its 1489 national branches, the door closed. Adjacent to the 21st century real estate Rui Feng Changning Road store manager, told reporters葛建, from 7-8 last year to date, he has witnessed Shanghai创辉rental companies planning to close down from the whole process, “(they) are some indications abnormal, just to get the property market slump, then on the point of death. “

fulfilling prophecy

In fact, rental创辉night in the beach collapsed, a few months before showing signs.

in its Shanghai headquarters, the reporter saw a manager who shook the hands of the pile of “lifting / notice of termination of labor contracts” and “prove the relationship between labor contracts”, namely stamping invasive Hui video’s wholly-owned subsidiary of Shanghai Hao-Yu创辉real estate consulting firm seal.

“The Wages in November last year, has so many employees on the company’s economic situation in doubt. By the end of December, the company suddenly impose upon all staffxxthe new labor contract, agreed in January from this year onwards, no longer issued to staff salary. “史小红more than 10 came from all regions of the manager, the manager agreed.

these allegations, at a press obtained Huang Jie and many other employees of the “lifting / notice of termination of labor contracts,” the original and a copy of the original has been confirmed.

It is worth mentioning that in recent months, Shanghai’s best-known of several real estate person in charge of intermediary firms, have on various occasions our reporter创辉predicted rental will be forced to evacuate on海滩. Shanghai Real Estate Agents the two giants - Shanghai Centaline Property Agency Ltd. (hereinafter referred to as “Shanghai Zhongyuan property”), Managing Director Tan hundred, China in the 21st century real estate, senior vice president and general manager of the Shanghai region in this paper, Zhang Weiping interview, as if by prior agreement said a word, “It is the collapse sooner or later things. “In many Shanghai counterparts, the创辉video is an” outside the barbarians. “

hundred Tan said: “We have already seen a few months ago on the (rental创辉the closure of) such an outcome. Intermediary company’s operations must be in line with the laws of the market, how can there be a company in one street to open several stores at the same time the? Do not feel good to earn money. “

reporter noted that in the Shanghai South Railway Station next Shilong Road, Minhang District of龙茗Road, Xuhui District of Wanping Road, are” more than a road创辉” phenomenon. A direct consequence of this approach is that the Direct Direct stores and between stores in the availability and sales outlets in many fields such as the existence of direct competition, making a single store profitability weak and can not form a joint force. People in the industry believe that this is clearly contrary to the general principles of intermediary shop.

“创辉rental operation is not in accordance with the laws of intermediary operations, similar to transit home, and its operating line is not desirable. “Zhang Weiping said,” it committed a fatal error, is estimated to be too optimistic on the property market. Its tight financial chain mode only to adapt to the situation of surging property market, once the market turns cold, there will be major crisis. “

otherwise” ambitious “expansion

创辉rental records of the Group web site of its ambitious goals: in the “large base in Shenzhen, over the Pearl River Delta, chain the whole of China” strategy under the guidance of the next five years to 3000 the layout of stores nationwide, and seeks ways to IPO listing.

“wantonly extended创辉rental shops have an important driving force is to ‘the biggest, most outlets’ identity, the introduction of VC or PE, the eventual realization of a dream IPO. “Zhongyuan (China) Property Consultants Limited, a senior told reporters.

2007 on before and after 8 years, broke into the创辉rental on the beach, in a very short time about the initial signing of the lease of 200 stores, quickly overtook the years of careful cultivation of “a brother” Shanghai Zhongyuan property. At that time, the number of the latter only 132 stores. But at the same time, the industry has questioned the rate of expansion of voice also started to float to the surface.

veteran real estate intermediary, Lutheran property Xia Liang, general manager of China for this kind of “impulse” poured cold water poured acts. In his view, the intermediary firms to seek listing enclosure in Happy Valley against the market trend, more consideration is for the venture capital to facilitate the realization of departure, rather than long-term management; long-term operation of intermediary firms should lay a solid foundation for the basis, rather than blindly Topsy capital Rubik’s cube.

Familia real estate胡正华chairman also believes that the IPO of a company to package the costs will be about more than 1000 million, if the IPO just to圈钱, it is not a big significance. After all, competition among peers is a marathon, not the 100 meters sprint.

current indications are that the rental创辉fruitless trips to the beach in the meantime, the base camp in Shenzhen stores are shrinking, in the outlying cities of Wuhan and other places are also in a retreat situation. This time in Shanghai to close some stores, but also became a peer, “bargain hunting” targets. So, its IPO dream to be drifting away.

hot buyers paragraph

despite the implementation of second-hand housing in Shanghai has filed a registration system for online transactions, but the regulatory aspects of funds in the transaction has not yet made the standard requirements. As the second-hand housing transaction process is relatively complex, currently in Shanghai, intermediary firms still play an important role in supervision and control of funds.

According to the survey, the current second-hand housing transactions, the more common approach to fund management by intermediary companies and banks to enter the joint supervision of funds and expenditures. The seller and the buyer signed the contract when the second-hand housing transactions, the banks at the same time arrived at the scene to examine the lender qualifications, a preliminary review after the passage of the first payment to buy a house to pay people to sell. With banks followed by a review of the contract through bank loans, as well as other relevant information, real estate intermediary to the Real Estate Trading Center for Real Estate and his evidence of the C of E, he of the C of E and real estate certificate will be given to banks to make mortgage loans in 7 working days of selling people into account.
It is noteworthy that this part of the transaction process links the existence of security risks. Shanghai Yi-chen Letter Home Real Estate Broker Co., Ltd., a gold property consultancy, explained that this is because the buyer may sometimes be the first payment will be commissioned intermediary companies to switch to the seller; In addition, some second-hand housing transactions are non-loan transactions, so there have been & ldquo ; to pay or to do real estate transfer “issue - in both buyers and sellers do not trust each other’s circumstances, often by paying back the principal intermediary companies to custody, the transfer is completed, by intermediary companies who paid to sell ; the event of such a home is similar to transit agencies, the transaction will rapidly enlarge the risk.

interview, more than 10 rental创辉manager, company manager made no attempt to conceal the existence of misappropriation of clients funds. According to them, a reflection of the Shanghai headquarters创辉rental store’s access to many funds, such as the sale and leasing of the commission, customers trading down, paying back the principal, such as cash, in the day-to-day operations, not directly into the company accounts , but was assigned to enter the Shenzhen headquarters to Shanghai’s high-level part of the personal accounts.

Although the Ministry of Construction has repeatedly banned Estate Agents funds may not be managing customer transactions, access to illegal profits, but a number of Shanghai Real Estate Agents industry veteran to our reporter said frankly that the intermediary eat “the difference”, embezzlement, customer transactions occupied capital, has been the industry’s “open secret”, monitoring more difficult. Among them, certainly can not be rented or sold创辉”alone.”

Shanghai, according to a well-known intermediary firms responsible person revealed that Shanghai创辉rental companies have an internal incentive systems, as long as a property consultant can convince customers to buy a house on the floor, shall so-called “corporate accounts & rdquo ; on, they will receive financial incentives. Zhang confirmed to this newspaper: “It is this internal system, each can be to achieve a 100 yuan reward. “

property intermediary for the purchase of its regulatory capital is rolling, as long as there is business, it is possible to continuously receive the funds. Thus, part of an intermediary company will take this part of funds for the “Happy enclosure”, or funds to obtain interest income from lending. Hot period in the property market, some control of thousands of billion of real estate capital intermediaries, and even with the “type of financial institution” some of the features.

But it is this practice, to second-hand housing transaction security funding potential problems. Once the property market had a larger decline, a number of difficult to intermediary companies may turn on prone Zhongtian, president of蒋飞卷款home to escape such an incident.

rental创辉As for whether there is a similar question of funding, is currently unclear. Journalists call on many occasions its chairman Lin Hui, and Shanghai, the company’s total head, deputy general manager of East China A district肖建生phones are to listen to nobody answered.

Chinese version:应验的预言 创辉租售上海“门店王”崩塌原因！

1月13日，上海飘起了今年的{dy}场雪。小张所在的创辉租售上海公司(即创辉租售集团有限公司上海分公司)，似乎要像落在地上的雪花一样悄然化掉了。

小张于2007年年中从另一家房产中介跳槽到创辉租售，出任上海公司闵行区的一名店长。“它的薪资很诱人，招聘启事往往都是这么写：‘底薪+提成+福利+奖金+补贴’。”小张告诉《{dy}财经日报》，但近日，公司在上海的大约近200家门店，几乎一夜之间全部关门，“大量的员工基本不工作了，都在讨薪。以我为例，去年11、12月份的薪水还没有发放，其中12月份的欠薪就有4000多块。”

创辉租售一度立志要在全国开3000家店，做国内房产中介业的“门店王”，并最终实现上市。在上海市长宁路1828号，创辉租售上海总部所在地，也是其全国的第1489家分行，大门紧闭。紧邻的21世纪不动产锐丰长宁路加盟店经理葛建告诉记者，从去年7、8月至今，他目睹了创辉租售上海公司从筹建到关门的全过程，“(他们的)一些迹象不正常，正好碰到楼市走向萧条，于是就不行了。”

应验的预言

事实上，创辉租售在上海滩的一夜崩塌，几个月之前就已露出端倪。

在其上海总部所在地，记者看到了店长们手中握着的一大叠《解除／终止劳动合同通知书》和《解除劳动合同关系证明》，分别加盖有创辉租售旗下全资子公司上海市昊宇创辉房地产顾问有限公司的公章。

“去年11月的欠薪已经让很多员工对公司的经济状况产生怀疑。12月底，公司又突然硬性要求所有员工xx新版劳动合同，约定从今年1月开始，不再向员工发放底薪。”史小红等10多名从各个区域赶来的经理、店长一致表示。

这些说法，在记者获得的黄杰等诸多员工提供的《解除／终止劳动合同通知书》正本和副本原件上，得到了印证。

值得一提的是，最近几个月间，上海最知名的几家房产中介行的负责人，曾在不同场合向本报记者预言创辉租售将被迫撤离上海滩。沪上两大房产中介巨头——上海中原物业代理有限公司(下称“上海中原物业”)董事总经理谭百强、21世纪中国不动产高级副总裁兼上海区域总经理张卫平在接受本报采访时，不约而同地说过一句话，“它的倒闭是早晚的事情。”在许多上海同行看来，创辉租售是一个“门外的野蛮人”。

谭百强指出：“大家几个月前就已经看到了(创辉租售倒闭)这种结局。中介公司的运营必须要符合市场规律，哪有一个公司在一条街上同时开好几家门店的？不要觉得钱很好赚。”

记者注意到，在上海南站旁的石龙路、闵行区的龙茗路、徐汇区的宛平路等，均是“一条马路多家创辉”的现象。这种做法的直接后果是，直营门店与直营门店间，在房源、客源等诸多领域存在直接竞争，使得单店赢利能力弱，而不能形成合力。业界人士认为，这显然有悖于中介开店的一般原则。

“创辉租售不按照中介运营的规律进行运营，类似于中天置业，其运营路线是不可取的。”张卫平说，“它犯的致命错误之一，是对楼市估计太过乐观。其紧绷的资金链模式只适应楼市一路高歌猛进的情况，一旦市场转冷，就会出现大危机。”

另有“宏图”的扩张

创辉租售的集团网站记录着其宏大目标：在“立足大深圳、密布珠三角、连锁全中国”的战略指引下，未来五年要在全国布局3000家门店，并谋求以IPO方式上市。

“创辉租售大肆扩店有一个重要的推动力，就是以‘全国规模{zd0}、网点最多’的身份，引入VC或PE，最终实现IPO梦想。”中原(中国)物业顾问有限公司一位高层告诉记者。

2007年8月前后，创辉租售闯入上海滩，在很短时间内初步签署了约200家门店的租约，迅速超越深耕多年的“一哥”上海中原物业。当时后者的门店数量仅为132家。但同时，业内对此扩张速度的质疑之声也开始泛起。

老牌房产中介、信义房产中国区总经理夏智亮给这类“冲动”行为泼了一瓢冷水。他认为，中介行逆市跑马圈地谋求上市，更多考虑的是为风险投资商套现离场提供便利条件，而不是长远经营；长远经营的中介行应当夯实基础，而非一味地玩转资本魔方。

福美来不动产董事长胡正华也认为，一家公司IPO的一揽子成本大概要1000多万元，如果IPO仅仅为了圈钱，那意义就不大了。毕竟，同行之间的竞争是一场马拉松，而不是百米短跑。

目前迹象显示，创辉租售在折戟上海滩的同时，大本营深圳的门店也在萎缩中，在外围城市武汉等地也处于退守态势。这次在上海关闭的一些门店，更成了同行“逢低吸纳”的目标。如此来看，其IPO梦想应渐行渐远了。

烫手的购房款

尽管上海已经实施二手房交易网上备案登记制度，但在交易资金监管环节尚未作出统一要求。由于二手房交易流程相对复杂，目前在上海，中介行仍然扮演着资金监管的重要角色。

据本报调查，目前二手房交易中较普遍的资金管理办法，是由中介公司和银行共同监管资金的进入和支出。在买卖双方签订二手房交易合同时，银行同时到场，负责审查xx人资质，初步审查通过后，买房人支付首付款给卖房人。凭借银行随后审查通过的银行xx合同，以及其他相关资料，房产中介到房地产交易中心办理房产证和他项权证，他项权证和房产证复印件将交给银行进行抵押，xx则在7个工作日内打进卖房人账户。
值得注意的是，这一交易流程中的部分环节存在着安全隐患。上海易居臣信房地产经纪有限公司一位xx物业顾问解释，这是因为买方有时可能将首付款委托中介公司转交给卖方；另外，部分二手房交易是无xx交易，于是就出现了“先付钱还是先办房产过户”的问题——在买卖双方都不信任彼此的情况下，房款往往由中介公司来保管，过户完成后，再由中介公司支付给卖房人；一旦出现类似于中天置业这样的中介公司，交易风险就会迅速放大。

采访中，10多名创辉租售的经理、店长并不讳言公司存在挪用客户资金的问题。据他们反映，创辉租售上海总部旗下的门店获得的诸多款项，诸如买卖与租赁的佣金、客户买卖的定金、房款等现金，在日常的运营中，并不是直接打入公司账户，而是一度直接打入深圳总部委派到上海公司的部分高层的个人账户。

虽然建设部一再明令房产中介不得管理客户交易资金，获取非法收益，但是，上海多位房产中介业资深人士向本报记者坦言，中介吃“差价”，挪用、占用客户交易资金，一直是业内“公开的秘密”，监管难度比较大。这当中，创辉租售自然难以“独善其身”。

据上海一家知名中介行负责人透露，创辉租售上海公司有一个内部激励制度，只要置业顾问能够说服买房客户把楼款放到所谓的“公司账户”上，就会获得经济奖励。小张向本报证实：“是有这样的内部制度，每实现一笔就可以得到100元的奖励。”

对房产中介来说，其所监管的购房资金是滚动的，只要有业务，就有可能源源不断地获得这笔资金。于是，部分中介公司便拿这部分资金用于“跑马圈地”，抑或进行资金拆借来获取利息收益。在楼市火爆时期，部分掌控上千亿元资金的房产中介，甚至具备了“类金融化机构”的某些特征。

但正是此做法，给二手房交易的资金安全埋下了隐患。一旦楼市出现较大幅度下滑，一些难以为继的中介公司就可能铤而走险，就容易出现中天置业总裁蒋飞卷款逃跑这样的事件。

至于创辉租售是否存在类似的资金问题，目前还不得而知。记者多次拨打其董事长林凤辉，及上海公司总负责人、华东A区副总经理肖建生的手机，均没人接听。

2008-01-16