Core Viewpoint - The real estate intermediary market is undergoing significant changes, particularly with the introduction of new commission structures by major players like Beike, which has sparked controversy among homeowners and raised concerns about the impact on housing prices and market dynamics [1][2][9]. Group 1: Changes in Commission Structures - Beike has implemented a policy where buyers pay 0% commission and sellers bear a 3% commission in major cities like Beijing, Shanghai, and Guangzhou, with trials in Chengdu [1]. - In Shenyang, Beike adjusted the commission to 2% for sellers and 1% for buyers, raising the total commission rate to 3% [2]. - The changes are seen as a response to the high inventory of 236,000 second-hand homes in Shenyang, which requires over four years to deplete at the current sales rate [9]. Group 2: Market Reactions and Implications - Homeowners are expressing dissatisfaction with the new commission structure, fearing it will increase their costs and complicate sales [1][9]. - The increase in seller commission may lead to higher home prices as sellers might raise prices to cover the additional costs, potentially negating the perceived savings for buyers [9]. - The market is likely to experience a "layered coexistence," where Beike continues to attract clients willing to pay for secure transactions, while smaller agencies offering zero-commission models may appeal to price-sensitive buyers [14][15]. Group 3: Small Intermediaries and Market Dynamics - Smaller intermediaries are adopting a "free revolution" approach, advertising zero commission and full rebates on new home commissions, which attracts budget-conscious buyers [12]. - However, the quality of service may vary, and there are risks associated with lower-cost options, particularly in complex transactions [12]. - The market may ultimately educate buyers about the risks of low-cost services, leading to a potential return to established intermediaries for those seeking reliable transactions [14][15].