When realty prices are soaring, realtors only need to put in the hours in order to achieve high sales performance. During this period of time, individual realtors and real estate business are very active, sometimes even hitting record highs. After the implementation of the integrated housing and land tax system, the real estate market underwent a significant consolidation with transaction volumes drastically dropping. The majority of investors opt to exit the market; the well-capitalized ones decide to stay on the sidelines and observe changes. The general public then turns their heads to invest in financial products or overseas real estate instead.
In view of the unbalanced, one-sided results of the quantitative research method and the opaqueness and retention of the real estate big data, in-depth interviews are adopted instead as a method to interpret the performances of the real estate agents who are subject to integrated housing and land tax system by means of observation, data collection, and interviews with senior, well-experienced real estate agents. Furthermore, making use of cooperative partnership and the organization reconstruction of companies may help the real estate industry survive and thrive in the consolidation phase.
One of the findings of this study is that after the implementation of the tax reform policy, many real estate agencies have no choice but to close up; many people are beginning to make a career change or undertake part-time jobs to earn their bread and butter. The data analysis of the interviews with the senior real estate agents, store managers, and the landlords of the real estate agency indicate that in the wake of the implementation of the integrated housing and land tax system, the consumers tend to prolong the consideration phase and are given lot more options to choose from. As consequence, the offered prices for the target house are lower than current the market price, which has in turn led to a drop in the real estate agents’ income and a fast turnover of personnel. Hence, in addition to employing the partnership system, modifications are made to the basic salary system to ensure that the basic living needs of the employees’ are taken care of. Therefore, this study aims to investigate the benefits that can come from the combination of the two modifications.