经济观察报在小红书上咨询多位发布低价房源的博主后发现， 多数房源要么已经"卖出"，要么根本不存在，但可以推荐其他 项目。换言之，小红书上大量的高性价比房源，只是销售人员 和中介机构用于吸引流量的"诱饵"。 作者：田国宝 封图：图虫创意 "北京菜市口复式公寓，130平方米三居室，带独立小院，总价161万元。" "北京车公庄，79平方米上下两层三居室，独门独院，现价142万元。" "北京劲松83平方米三居带花园小院，精装修，总价165万元。" 在小红书上，此类"核心商圈、豪华装修、价格诱人"的低价房源信息并不罕见。每条笔记下通常 都有数十甚至上百条咨询留言。 经济观察报在小红书上咨询多位发布此类低价房源的博主后发现，多数房源要么已经"卖出"，要 么根本不存在，但可以推荐其他项目。换言之，小红书上大量的高性价比房源，只是销售人员和中 介机构用于吸引流量的"诱饵"。 "假房源"曾长期是房地产中介行业的顽疾。链家创始人左晖早年在公开演讲中提到，2010年前， 国内中介行业中高达90%的房源信息为虚假房源，消费者平均要看完10套假房源才能接触到一套 真实房源。 2011年，链家在北京率先推出"真房源"体系，经过内部阻力、 ...

"北京车公庄，79平方米上下两层三居室，独门独院，现价142万元。" "北京劲松83平方米三居带花园小院，精装修，总价165万元。" 在小红书上，此类"核心商圈、豪华装修、价格诱人"的低价房源信息并不罕见。每条笔记下通常都有数十甚至上百条咨询留言。 经济观察报在小红书上咨询多位发布此类低价房源的博主后发现，多数房源要么已经"卖出"，要么根本不存在，但可以推荐其他项目。换言之，小红书上大 量的高性价比房源，只是销售人员和中介机构用于吸引流量的"诱饵"。 "假房源"曾长期是房地产中介行业的顽疾。链家创始人左晖早年在公开演讲中提到，2010年前，国内中介行业中高达90%的房源信息为虚假房源，消费者平 均要看完10套假房源才能接触到一套真实房源。 2011年，链家在北京率先推出"真房源"体系，经过内部阻力、市场低谷及同行抵制等多重考验后，最终推动行业从虚假房源泛滥走向相对透明化，改善了中 介行业口碑，推动了整个中介行业进入"真房源"时代。 然而，当专业平台的"真房源"标准逐渐成为行业共识时，小红书、抖音、闲鱼等平台以UGC（用户生成内容）构建的内容生态，在缺乏针对性监管的情况 下，大量个人与中介利用平台发布虚假房源， ...

Core Insights - The article discusses the legacy of key figures in the real estate industry, particularly focusing on the impact of Left Hui and the current challenges faced by Peng Yongdong, the CEO of Beike, in maintaining the company's values and performance after Left's passing [1][2][4]. Group 1: Leadership and Legacy - Left Hui is recognized as the only acknowledged leader in the real estate transaction service sector, despite the presence of other prominent developers [2]. - Peng Yongdong faces the challenge of proving that Left's spirit and values continue to thrive within Beike, especially during a period of significant transformation [5][11]. - The comparison between Peng and Left creates pressure for Peng, as Left is seen as a spiritual icon for the industry [4][5]. Group 2: Business Model and Transformation - Beike's recent "tenant separation" policy aims to enhance operational efficiency by splitting roles between sourcing properties and client development, reflecting a response to market changes [16][17]. - The policy is a reaction to structural changes in the market, such as an increase in property listings and a decrease in average transaction prices, necessitating a more specialized approach to real estate transactions [19][20]. - The initial implementation of the policy has faced challenges, with slow progress reported in the early months [13][22]. Group 3: Financial Performance and Employee Sentiment - Despite a challenging market, Beike reported significant growth in transaction volume and revenue, with a 34% year-on-year increase in total transaction value in Q1 2025 [71]. - However, employee dissatisfaction has risen due to drastic reductions in base salaries and commission structures, leading to a perception of exploitation [62][65]. - Peng Yongdong's substantial salary increase post-Left's death has drawn criticism, especially in light of the company's struggles and employee pay cuts [61][66]. Group 4: Industry Challenges and Criticism - Beike's commission structure has come under scrutiny, with reports of high fees imposed on developers and franchisees, raising concerns about fairness and transparency [73][74]. - The integrity of Beike's "true source" initiative is questioned, as reports of false listings and data manipulation have surfaced, undermining the company's foundational promises [77][81]. - The article highlights a growing disconnect between the company's operational practices and the original vision of creating a healthy work environment and improving consumer experiences [83].