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al brokerage rate (% of total transaction value), brokerage mission in these 25 cities were RMB20Billion in total.Target Customers/Users: 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 and use the pany’s primary real estate agency services. Other customers are service panies in real estate industry like decoration panies and designers as is a targeted media to reaching their potential clients. Besides traditional secondary real estate brokerage panies, the pany also allows individuals who has their primary property resources, or “individual brokers” and personal property owners to trade directly at . Individual broker is one of the most important types of customer that xxx is developing. The entire transaction will be consummated via xxx’s offline third party service center.Revenue Model: The pany is generating revenues primarily from both online and offline businesses. Online revenues consist of i) traditional online advertising charges due to the traffic of website。 ii) sponsor listing for institutional and individual brokers, and iii) membership fees for listing brokers and other service providers in connection with real estate industry. However, the database system is free of charge for all types of brokers in order to attract them to list at .Offline revenues are mainly from i) mission sharing with individual brokers (xxx taking out 30%), and third party service fees for those who trade thro