- May 22, 2020
- Business Update
JD Retail CEO’s Livestreaming Debut Shows A Golden Opportunity to Buy a Property in Beijing
by Tracy Yang and Rachel Liu
On May 22nd, Lei Xu, CEO of JD Retail hosted a live broadcast for the pre-sale of JD.com’s new innovative real estate model. This is the first time for Xu to join this kind of live stream show. Under new partnership with Zhongjun Real Estate, the first project is Zhongjun Yunjingtai (Cloudview Terrace), a popular new residential compound in Beijing.
During the show, Xu offered a 38.2% off for one unit, which implied the unit price would be 61.8% of the original one, to celebrate “6.18 Grand Promotion”. Customers had chances to win the lottery to buy this unit for less than RMB 2 million yuan after the discount, a dream deal in nowadays Beijing’s real estate market.
Under the new business model, JD personally curates the projects involved and provides superior service akin to its “first-party” retail model. The first phase of housing is in the Beijing area, and includes about 1,000 units, worth of RMB 2.6 billion yuan in total. The project will gradually be rolled out across the country based on the distribution of users.
Each project involved has to meet clear criteria and provide housing selection assistance, exclusive offers, price protection, “cancel for any reason” insurance, and online reservation. Users can tour homes online through VR, live shows and more. The initiative is targeted at buyers in search of “good quality, good price, good service and good after-sales service”, while it helps property developers “sell well and sell quickly”.
Fuhu Zeng, General Manager of JD Real Estate said, “The vast majority of disputes over real estate transactions occur within a year after buying a house. JD.com launched this innovative real estate model with standardized services to help dramatically reduce the potential risks faced consumers. JD.com and Zhongjun Real Estate jointly make the property purchase process transparent and efficient. This not only gives users more rights and protection, but also simplifies the real estate sales process, reduces costs and improves efficiency for developers.”
Under the initiative, JD has established a standardized service model, which brings higher value for real estate buyers and addresses many challenges faced in the traditional online house purchase process. JD’s professional team will strictly evaluate the properties of the developers and the developer companies themselves to ensure that they comply with the relevant laws and regulations. In addition, with a base of nearly 400 million high-quality customers, JD has more bargaining power with suppliers and can bring exclusive benefits to consumers. Finally, property buyers will also enjoy comprehensive protection as well as value-added after-sales services.