（原标题："牛市"逆行者！26岁券商分析师 转行房产中介） 晚上8点，上海链家某门店的灯光依然明亮。26岁的小谭合上刚打印的《上海学区房政策解读》，指尖 在平板上划动着最新的板块成交数据——这不是他曾经熟悉的券商研报，而是今天要为客户定制的"置 换方案"。 几个月前，他还是某证券汽车组的研究员，每天盯着屏幕上的行情软件和PPT，为"某新能源车企季度 毛利率下滑XX%"的结论熬到凌晨。如今，他的工位搬到了社区门店，手机里存着无数人民广场、南京 东路、淮海东路等上海热门房产板块的"冷知识"，能为购房者讲清"前滩三林的教育资源梯度"和"大虹 桥扩区发展对房价的影响"。 回顾来看，小谭称，他在2021年夏天以北方某券商暑期实习生的身份踏入金融圈。那时他以为，"转 正"是努力的终点——直到被分到煤炭组。由于"周期行业波动大"，他婉拒了留用机会，转而在某证券 研究所继续"闯关"。 2023年，小谭第一次面对金融行业的"残酷"：转正名额在"今年不招新人"后化为泡影。为了"先入行"， 他退而求其次，加入了某私募。2024年，他终于"杀"回券商，以汽车组研究员的身份入职某证券。同年 9月，正赶上研究所裁员的小谭因为没有派点，成 ...

【导读】券商分析师转行新路径：99年小伙投身链家卖房 券商分析师，转型新路径来了！ 近期，中国基金报记者关注到，某券商曾经的汽车行业研究员小谭选择告别金融行业，成为上海链家一 名房产中介。这样的转型路径在行业内尚属少见。 从券商到链家，从"分析师"到"楼市咨询师"，这个1999年出生的年轻人，用一场主动的转身，找到了属 于自己的归属感。他向记者表示，"人生是来体验的，不是来吃苦的。人生的成功也不是年薪百万，或 者上海几套房，开心和有意义是最重要的。" 投身券商研究所遭遇裁员 99年小伙决定去卖房 晚上8点，上海链家某门店的灯光依然明亮。26岁的小谭合上刚打印的《上海学区房政策解读》，指尖 在平板上划动着最新的板块成交数据——这不是他曾经熟悉的券商研报，而是今天要为客户定制的"置 换方案"。 几个月前，他还是某证券汽车组的研究员，每天盯着屏幕上的行情软件和PPT，为"某新能源车企季度 毛利率下滑XX%"的结论熬到凌晨。如今，他的工位搬到了社区门店，手机里存着无数人民广场、南京 东路、淮海东路等上海热门房产板块的"冷知识"，能为购房者讲清"前滩三林的教育资源梯度"和"大虹 桥扩区发展对房价的影响"。 回顾来看，小 ...

国泰海通房地产新周期 列电话会 纵横 法律声明 * 会议启用白名单,如需参会请联系您的国泰海通对口销售 | 序号 | 日期 | 时间 | 内容 | 主讲人 | | --- | --- | --- | --- | --- | | 1 | 8月24日 | 16:00 | 开篇:地产过去,现在与未来 | 涂力磊 | | | | | 一、回看过去:海外研究 | | | 2 | 8月25日 | 20:00 | 从美日对比,看好中国地产信用修复能力 | 谢盐 | | 3 | 8月26日 | 20:00 | 穿越周期,七十年稳健前行 -- NIHON HOUSING,日本经济 | 涂力磊 | | | | | 寒冬中十倍回报物业龙头 | 陈昭颖 | | 4 | 8月27日 | 20:00 | 城市更新国际对比 | 黄可意 | | 5 | 8月28日 | 20:00 | 新加坡组屋模式 -- 从中新比较,看新加坡组屋制度特点 | 谢盐 | | 6 | 8月31日 | 16:00 | 从普尔特看房地产如何走出衰退 | 涂力磊 | | | | | 二、关注当下:公司深度 | | | 7 | 9月1日 | 20:00 | 招商蛇口公 ...

Group 1: Company Initiatives - Starbucks China has introduced "Starry Study Rooms" in some Guangdong stores to provide consumers with a study space during the summer, with plans to explore more interest-oriented spaces and activities in the future [1] - Beijing Lianjia has selected 1,411 renovation experts to offer a one-stop service for home buying and renovation, aiming to help customers make comprehensive decisions during the home buying process [3] - Meituan has launched the "Ten Thousand Brands" initiative to support 10,000 well-known restaurant brands with traffic support, joint customization services, and brand assistance, with over 5,000 brands already onboard [5] Group 2: Industry Developments - The first agricultural open-source Hongmeng domestic replacement project has been launched in Hubei, focusing on building a fully autonomous and controllable system for the agricultural industry, integrating AI and domestic replacement technologies [2] - Korean fashion e-commerce platform MUSINSA reported a significant increase in Chinese tourist spending, with a 257% increase in transactions at one store and a 180% year-on-year increase at another [4] - The launch of the AIGC video generation model "Steam Engine" by Baidu has seen rapid adoption, with over 300,000 registered users and 200 million pieces of content generated in just two weeks [8] - XREAL has released its flagship product, XREAL One Pro, continuing its dominance in the AR market with a leading global market share [9] - The "Wanzhi Platform" 2.0 version has been launched by Zero One Everything, featuring an enterprise-level agent capable of deep thinking and task planning [10]

Core Viewpoint - Shanghai Lianjia is piloting a new service model called "tenant separation" to enhance service experience, where each real estate agent will focus on either buyers or sellers, starting from July 1 [1] Group 1: New Service Model - The "tenant separation" model requires agents to choose between serving the source side (sellers) or the client side (buyers), differing from the traditional dual-agent model [1] - Managers (M series) will automatically be assigned to the source side, while agents (A series) will focus on the client side, with the option for agents to switch roles after meeting certain criteria [1] - The goal is to increase the transaction completion rate from 45% to 53% by incentivizing agents to prioritize the maintenance of property sources [1] Group 2: Industry Context - The "tenant separation" initiative is seen as a significant step towards a "single agency" model in the real estate industry, which is more common internationally [2] - The traditional dual-agent model has led to conflicts of interest, where agents may favor one party over the other depending on market conditions [2][4] - Experts believe that focusing agents on one side will enhance their professionalism and clarity of interests, potentially leading to better service and outcomes for clients [4] Group 3: Future Implications - There is potential for the "single agency" model to be adopted in other first- and second-tier cities, promoting a more professional service system in the industry [4] - However, there are still areas that need improvement, such as commission structures and service details within the "single agency" model [4]

Core Viewpoint - Shanghai Lianjia is piloting a new service model called "separation of buyers and sellers," aiming to enhance service quality by having agents focus solely on either buyers or sellers, starting from July 1 [1][2]. Group 1: New Service Model - The "separation of buyers and sellers" model requires agents to choose between serving the seller or the buyer, contrasting with the traditional dual-agent model [1][2]. - The model is expected to improve the performance of agents, with the transaction completion rate for the seller's side increasing from 45% to 53% [1]. Group 2: Industry Context - The initiative is seen as a significant step towards adopting a "single agency" model, which is more common in foreign markets, as opposed to the "dual agency" model prevalent in China's second-hand housing market [2]. - The dual agency model often leads to conflicts of interest, where agents may favor one party over the other depending on market conditions [2]. Group 3: Expert Opinions - Experts believe that having agents focus on one side will clarify their interests and enhance their professionalism, leading to better service for clients [3]. - There are suggestions that this model could be replicated in other first- and second-tier cities, promoting a more professional service system in the industry [3].

Macro Dynamics - In May, national lottery sales reached 57.036 billion yuan, a year-on-year increase of 19.8% [1] - The growth was driven by an increase in sports events boosting sales of sports lottery tickets and a low base from the previous year for instant lottery tickets [1] - Cumulative lottery sales from January to May totaled 263.372 billion yuan, up 4.3% year-on-year [1] Industry Policies - Chengdu has introduced "14 measures for low-altitude economy" to support low-altitude flight operation companies in applying for passenger routes [2] - The measures include subsidies for the construction of low-altitude takeoff and landing infrastructure, with a maximum subsidy of 500,000 yuan per project [2] - Companies that obtain route approval and achieve commercial operation will receive a one-time subsidy, also capped at 500,000 yuan per year [2] Financial Institutions - DBS Bank plans to hire about 40 private bankers in Hong Kong and Singapore this year to meet the demand from affluent clients in North Asia [5] - Cathay Securities International has received approval to provide cryptocurrency and virtual asset trading services, becoming the first Chinese broker in Hong Kong to offer comprehensive virtual asset trading services [6] Market Data - On June 25, A-shares saw a collective rise, with the Shanghai Composite Index up 1.03%, and the ChiNext Index up 3.11% [7] - The total trading volume reached approximately 1.602789 trillion yuan, an increase of about 188.175 billion yuan from the previous trading day [7] - The financial sector led the gains, with active stocks in stablecoins, military industry, AI applications, and autonomous driving concepts [7] Company Dynamics - Pony.ai's stock rose over 11% in pre-market trading after being included in the Nasdaq Golden Dragon Index, indicating increased visibility and investment interest in Chinese autonomous driving technology [10] - Apple has announced participation in a national subsidy program for its products, offering up to 2,000 yuan off for specified items, marking its first involvement in such a program in China [11] - Tesla's new car registrations in Europe fell by 27.9% year-on-year in May, marking the fifth consecutive month of decline [12]

Core Viewpoint - The real estate agency industry is undergoing significant changes, with some agents resorting to hiring "actors" to pose as homebuyers in order to meet performance metrics and cope with declining demand [1][12]. Group 1: Industry Changes - The phenomenon of hiring individuals to view properties reflects a dramatic shift in the real estate market, where agents face increasing pressure due to a reversal in supply and demand dynamics [1][12]. - The number of real estate agencies and agents has surged over the years, with statistics showing a growth from 3.4 million agencies and 374,000 agents in 2008 to 206,000 agencies and 1.583 million agents by 2018 [15]. - The average number of transactions per agent has significantly decreased, with agents in major cities like Shanghai and Shenzhen averaging only 1.8 to 2.5 transactions per year [16][17]. Group 2: Agent Experiences - Agents like Liu Qian report that they have no base salary and rely solely on commissions, leading to financial strain and the need to hire others to meet viewing quotas [6][18]. - The pressure to meet viewing targets has intensified, with agents facing penalties such as longer working hours if they fail to meet these metrics [6][12]. - A survey indicates that only 41.4% of agents have a base salary, with many earning as little as 2,000 to 3,000 yuan per month, highlighting the financial challenges faced by agents in the current market [18][19]. Group 3: Hiring Practices - The practice of hiring individuals to pose as buyers has become more common, with reports of agents paying between 35 to 60 yuan per hour for this service [8][10]. - In local running groups, there has been a noticeable increase in demand for individuals to "pretend" to view properties, with nearly 60 requests for such services posted in a single month [8][9]. - Some agents express disbelief at the absurdity of hiring people to view high-value properties, yet they feel compelled to do so to maintain their performance metrics [10][11].

Core Viewpoint - The real estate brokerage industry is undergoing significant changes, with some agents resorting to hiring "actors" to pose as homebuyers in order to meet performance metrics and cope with declining demand [1][10][11]. Industry Changes - The phenomenon of hiring individuals to view properties reflects a reversal in the supply-demand relationship in the real estate market, leading to increased pressure on sales personnel [1][10]. - The number of real estate brokerage firms and agents has seen substantial growth over the years, with statistics showing an increase from 3.4 million firms and 37.4 million agents in 2008 to 20.6 million firms and 158.3 million agents by 2018 [11][12]. Performance Metrics and Compensation - Many agents, like Liu Qian, report that they have no base salary and rely solely on commissions, which has become increasingly difficult due to strict performance evaluations that require a certain number of property viewings [5][14]. - The average annual transactions per agent in high-demand areas like Pudong, Shanghai, are low, with estimates suggesting around 1.8 to 2.5 transactions per year [13]. Hiring Practices - The practice of hiring individuals to pose as buyers has become more common, with reports indicating that agents are paying between 35 to 60 yuan per hour for this service [7][8]. - The trend of hiring "actors" is not universal but is a tactic employed by some agents to artificially inflate their viewing numbers in response to strict performance targets [10][12]. Market Dynamics - The current market conditions have led to a significant shift from a previously thriving environment where agents could easily attract clients to a more challenging landscape where they must find creative solutions to meet their targets [10][11]. - The industry is experiencing high turnover rates, with many agents not staying in their positions for more than three years, indicating instability within the profession [14].

Core Viewpoint - The real estate intermediary industry, once a popular transitional job for graduates, is undergoing significant changes with reduced base salaries and increased performance pressure, leading to a decline in its attractiveness as a career option for young professionals [2][19][32]. Group 1: Industry Changes - Starting in the fall of 2024, the real estate intermediary industry will implement reforms that include a reduction in the no-responsibility base salary and stricter performance evaluations [2]. - The average sales area of newly built commercial housing in China decreased by 12.9% in 2024 compared to 2023, with sales revenue dropping by 17.1% [6]. - In August 2024, the base salary for college graduates in Shanghai was cut from 6,000 yuan to 3,000 yuan, with a total monthly salary of 5,000 yuan after including a talent subsidy [7]. Group 2: Employee Experiences - Many employees, like Wan Le, found that the majority of their peers left the job within a few months due to the challenging work environment and low pay [3][4]. - The workload has increased significantly, with employees required to manage social media, respond to client inquiries, and conduct property viewings, leaving little time for personal activities [11][22]. - New hires, such as Zhang Xi and Mao Mao, reported that their actual take-home pay was often much lower than expected, with some earning as little as 1,700 yuan after deductions [25][35]. Group 3: Perception of the Job - The perception of real estate intermediary jobs as a desirable transitional role has shifted, with many recent graduates expressing disappointment over the reduced salaries and increased workload [12][19]. - Social media discussions have changed from inquiries about job benefits to complaints about the declining salary and job conditions [12]. - The initial appeal of the job as a low-pressure environment for graduates preparing for further studies has diminished, as employees now face high expectations and little financial reward [16][34].