Abstract
In order to facilitate the market transaction of houses, a series of institutional reform seems relevant, such as: the unified system of disclosure of property information based on the standard format; the clarification of rights and duties of intermediary agent, and its empowerment through continuing education for consultation and provision of a built-in and one-stop services；the development of a reasonable and fair appraisal method taking into consideration of renovation records; the provision of remedies for the defects of houses sold at public auctions. These reforms may become more efficient if they are combined with those reforms of the renovation market, the finance and taxation for the transaction of houses, and the securitization of rental houses.
