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EXECUTIVE SUMMARY
XXX (or “the company”) is an integrated professional real estate service company by providing real estate information services, secondary real estate brokerage services and primary real estate agency services through its unique . Started 5 years ago in Beijing, XXX was a successful traditional agency and brokerage company with more than 1000 real estate sales professionals and annual sales (commission revenue) of RMB100Million (2009). Since 2006, the company has been investing heavily in the R&D of proprietary real estate database system, and later in June 2008 launched the website backed by its database system which allows traditional brokers to manage and publish their listings and interact with potential property buyers more efficiently. Since its inception, xxx has built up premium brand name and solid foundations in Beijing. The company is expanding nationwide by marketing its website xxx.com, and assisted by setting up local offices and third-party service centers in 25 major cities. The offline presence will well supplement its online portion and provide high quality, secure transaction services. The company is also setting up national call center to serve those who have difficulties in accessing Internet. As xxx markets its website, it has developed 5,000 enterprise members with over 100,000 outlets and over 500,000 sales professionals by end of August 2009. Such a network is covering 10 million potential property buyers. Currently xxx.com has Alexa ranking of 2,000 globally with PV of 15. The website also possesses a forum with more than 1,000,000 registered users. Along with recent economic boom, the real estate market in China has been growing extremely rapidly, especially the secondary real estate brokerage sector. Statistics shows that approximately 90 percent of secondary property transactions were done through brokers or sales agents. According to relevant research report, in 2009, 150,000 units of secondary properties were traded in Beijing. The total value of secondary real estate brokerage market in the 25 cities where xxx currently has presence was RMB800Billion in 2009. Under the conventional brokerage rate (2.5% of total transaction value), brokerage commission in these 25 cities were RMB20Billion in total. xxx’s major customers include traditional brokers who will use the database system to exhibit their listings, and real estate developers who will be adverting at xxx.com and use the company’s primary real estate agency services. Other customers are service companies in real estate industry like decoration companies and designers as xxx.com is a targeted media to reaching their potential clients. Besides traditional secondary real estate brokerage companies, the company also allows individuals who has their primary property resources, or “individual brokers”
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