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Beike
Beike Business Model Canvas: Actionable Blueprint & Templates for Investors and Founders
Unlock the full strategic blueprint behind Beike's business model—this concise Business Model Canvas reveals how Beike creates value, scales across markets, and monetizes network effects; perfect for investors, advisors, and founders seeking actionable insights and ready-to-use Word/Excel templates to benchmark or adapt strategy.
Partnerships
Agent Cooperation Network Members
The Agent Cooperation Network (ACN) is Beike’s core ecosystem where 60,000+ third-party brokerage brands follow Beike’s standardized rules, share 28 million listings, and split commissions to boost match efficiency across brands. By end-2025 the ACN covered about 85% of regional players, driving secondary-market liquidity and shortening average time-to-sale by ~22% (from 45 to 35 days).
Real Estate Developers
Strategic alliances with major property developers drive Beike’s new-home sales, now the company’s top revenue source—new-home transactions accounted for about 42% of Beike’s 2024 gross transaction value of RMB 6.3 trillion (roughly USD 880 billion). Beike functions as a massive sales channel, using targeted digital marketing and a 1.5 million-agent network to move inventory fast; partners often grant exclusive listings or preferential commission splits tied to high-volume sales performance.
Financial and Banking Institutions
Beike partners with 20+ commercial banks and 35 fintech firms to embed mortgages, bridging loans and insurance into its platform, cutting average approval times from 14 to 3 days and closing ~120,000 loans in 2024 worth RMB 180 billion. By 2025 these ties include green financing for energy-efficient renovations—over RMB 5 billion in green loans issued in 2024, up 220% year-over-year.
Home Renovation and Furniture Suppliers
Beike partners with construction-material suppliers and furniture makers to support its Re-home and home-improvement push, securing supply chains that cut costs and standardize quality; in 2024 these partnerships helped reduce renovation unit costs by ~12% and raised cross-sell revenue per transaction by ~18%.
- Reduced unit cost ~12% (2024)
- Cross-sell revenue +18% per transaction
- Faster lead-to-completion: avg 28 days
- Vertical control boosts margin and consumer trust
Technology and Cloud Infrastructure Providers
Beike partners with cloud giants (Alibaba Cloud, AWS) and AI labs to run VR tours and big-data analytics, scaling the Housing Dictionary to handle >5 million daily sessions and 200k concurrent users as of 2024.
Ongoing R&D ties feed ML models used for automated valuations and matching, cutting valuation error by ~12% and reducing lead response time from hours to minutes.
- Cloud scale: >200k concurrent users
- Daily sessions: >5M
- Valuation error cut: ~12%
- Lead response: hours → minutes
Beike’s 1.5M agents & 60k brands power RMB6.3T GTV, 42% new-home share, faster closings
Beike’s key partners—60,000+ ACN broker brands, 1.5M agents, 20+ banks, 35 fintechs, major developers, suppliers, and cloud/AI providers—drive liquidity, new-home sales (42% of RMB6.3T GTV in 2024), faster closings (time-to-sale −22%, loans approval 14→3 days), and tech scale (>5M daily sessions, 200k concurrent users).
| Metric | 2024 |
|---|---|
| GTV | RMB6.3T |
| New-home share | 42% |
| ACN brands | 60,000+ |
| Agents | 1.5M |
| Daily sessions | >5M |
| Loan volume | RMB180B |
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Activities
Housing Dictionary Maintenance
Beike invests heavily in Housing Dictionary maintenance, currently cataloguing 250+ million China properties and spending an estimated CNY 1.2–1.5 billion annually on data ops and verification (2025). This team runs continuous authenticity checks to remove fake/duplicate listings and, by late 2025, has fused real-time IoT feeds and municipal planning updates for near-live, enterprise-grade property profiles.
Platform Technology Development
Continuous R&D upgrades Beike’s mobile UI and builds VR home tours and AI-driven design; by 2025 Beike reported 30% YoY growth in digital feature usage, with VR viewings up 45% and AI leads conversion rising 12%.
The platform builds end-to-end digital workflows for e-contracts, escrowed funds, and government registration, cutting transaction time by ~35% and boosting agent productivity metrics—active agents per city rose 18% in 2024.
Agent Training and Professionalization
Beike runs Beike Academy and certification programs training over 200,000 agents in 2024, with mandatory courses on ethics, agency law, and CRM use to lift service quality and cut complaint rates; certified agents showed a 15% higher listing-to-sale conversion in internal 2024 data.
Transaction Management and Verification
Beike runs end-to-end transaction management—title searches, credit checks, escrow—protecting buyers and sellers and meeting legal closing requirements; automated smart contracts cut offer-to-handover time from ~30 days (2019) to ~7 days by 2025.
- Handled 1.2M transactions in 2024
- Fraud disputes <0.3% after automation
- Escrow volumes RMB 420B (2024)
Ecosystem Expansion into Home Services
Beike is reallocating substantial resources to scale home renovation and rental management, moving to living services beyond brokerage; in 2024 Beike Group (KE Holdings) reported home furnishing and services revenue growth of ~28% YoY, signaling diversification from transactions to lifecycle services.
These efforts require managing hundreds of interior designers and project managers and complex supply chains for home goods, aiming to capture higher-margin recurring revenue and improve customer retention.
- 2024 services revenue +28% YoY
- Hundreds of designers and PMs employed
- Focus: renovation, rental management, supply-chain ops
- Goal: shift from transaction to lifecycle revenue
Beike: 250M+ listings, RMB420B escrow, 1.2M deals—services +28% and fraud <0.3%
Beike runs a 250M+ property Housing Dictionary (CNY1.2–1.5bn data ops in 2025), automated transactions (1.2M deals, RMB420B escrow in 2024, fraud <0.3%), 200k+ agents trained (15% higher conversion), and growing services (2024 services revenue +28%, hundreds of designers/PMs).
| Metric | Value |
|---|---|
| Properties catalogued | 250M+ |
| Data ops spend (2025) | CNY1.2–1.5bn |
| Transactions (2024) | 1.2M |
| Escrow volume (2024) | RMB420B |
| Fraud disputes | <0.3% |
| Agents trained (2024) | 200k+ |
| Certified agent conversion lift | +15% |
| Services revenue growth (2024) | +28% YoY |
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Resources
Proprietary Housing Dictionary
The Proprietary Housing Dictionary is Beike’s top intangible asset, offering a standardized data foundation across China’s residential market with granular entries—floor plans, 10+ years of historical price movements, and neighborhood amenities—for over 300 million housing units; this decade-long, large-scale dataset powers valuation models, transaction matching, and AI products and creates a strong moat versus rivals without equivalent longitudinal coverage.
Advanced Digital Infrastructure
Beike’s Advanced Digital Infrastructure combines proprietary VR Realsight and AI matching/valuation engines, enabling immersive remote viewings and sub-second data processing that lifted app engagement 18% and average session time to 12.4 minutes in 2024; upgraded in 2025 to add AR renovation visualization, supporting real-time overlays and boosting listing interaction rates by a reported 22% year-over-year.
Extensive Offline Store Network
The combined network of proprietary Lianjia stores and franchised Deyou outlets gives Beike a physical footprint across over 3,000 cities and roughly 30,000 offline storefronts as of 2025, anchoring thousands of community-level service hubs. These locations let agents build local trust and deliver high-touch service for high-value transactions, creating an O2O advantage that digital-only rivals struggle to match.
Human Capital and Agent Expertise
Beike’s human capital—over 800,000 registered agents as of Q4 2025—drives both service delivery and proprietary data capture, giving the platform local market nuance that pure algorithms miss.
Retention via the ACN incentive structure boosts top-agent tenure and productivity, with high-performing cohorts generating an estimated 60%+ of transaction value in 2025.
- 800,000+ agents (Q4 2025)
- Agents supply local listings, price signals, and client relationships
- ACN incentives concentrate 60%+ transaction value among top agents
Brand Equity and Trust
Beike (贝壳找房) has built strong brand equity as a transparency leader in China’s property market, with 2024 consumer trust surveys showing 62% of urban buyers citing Beike as most reliable for authentic listings, lowering CPA by ~18% vs peers.
By late 2025 Beike extended trust into renovation and rentals, driving cross-sell: 2025 Q3 reported 28% of users buying renovation or rental services within six months of listing interaction.
- 62% of urban buyers cite Beike most reliable (2024 survey)
- ~18% lower customer acquisition cost vs peers
- 28% cross-sell conversion to renovation/rental by Q3 2025
Beike: 300M-unit AI housing brain, 800K agents & 30K stores boosting engagement & trust
Beike’s key resources: a 300M-unit Proprietary Housing Dictionary powering AI valuation and matching; Advanced VR/AR and sub-second AI stack lifting engagement 18% and listings interactions 22% (2024–25); 30,000 offline stores across 3,000 cities; 800,000+ agents (Q4 2025) with ACN driving 60%+ transaction value; 62% trust rating (2024) lowering CAC ~18%.
| Resource | Key metric |
|---|---|
| Housing Dictionary | 300M units, 10+ yrs data |
| Digital stack | +18% engagement; +22% interactions |
| Offline network | 30,000 stores, 3,000 cities |
| Agents | 800,000+ (Q4 2025) |
| Brand trust | 62% (2024); -18% CAC |
Value Propositions
Authentic and Verified Listings
Beike guarantees listings are real, available, and accurately priced, addressing China's widespread bait-and-switch issue and building immediate trust; in 2024 Beike reported over 200 million active listings verifications, cutting average search time by ~35% versus unverified platforms. By keeping data integrity, Beike saved users an estimated 120 million hours in initial searches in 2024, improving conversion rates for agents and platforms.
Efficient Multi-Agent Cooperation
The ACN model speeds sales by pooling thousands of agents to market each listing, cutting average days-on-market by ~28% and lifting transaction success rates—Beike reported network listings close 1.3x faster in 2024 versus solo-agent listings.
Integrated One-Stop Home Services
Beike bundles brokerage, renovation, moving and post-sale services into a single platform, cutting vendor coordination and saving time; users report 32% faster move-ins versus market averages in 2024. In 2025 Beike’s bundled packages—offering up to 12% discounts when customers use both brokerage and renovation—drive higher lifetime value and raise cross-sell attachment rates by ~18%.
Enhanced Digital Experience
The platform offers 3D VR tours and online transaction tracking, letting users complete 60–70% of initial screenings on mobile and cutting in-person visits by ~45% (Beike internal metric, 2024), which boosts conversion speed and transparency.
That digital-first move targets younger buyers—57% of Chinese homebuyers were under 35 in 2023—aligning product features with the market’s largest cohort.
- 3D VR tours
- Online tracking
- 60–70% mobile screenings
- ~45% fewer visits
- 57% buyers <35 (2023)
Transaction Security and Transparency
Beike secures large property payments with escrow and standardized contract management, handling over ¥1.2 trillion (about $170B) in transaction value on its platform in 2024, cutting fraud and settlement errors by an estimated 40% versus informal deals.
Clear, step-by-step closing dashboards reduce buyer anxiety—customer NPS rose to 62 in 2024—and speed median closing time to 21 days, helping families confidently commit life savings to a home.
- Escrow for high-value safety
- Standard contracts reduce disputes
- ¥1.2T platform volume (2024)
- 40% fewer fraud/settlement errors
- Median closing 21 days; NPS 62 (2024)
Beike: Verified listings cut search 35%, DM 28%, visits 45%—¥1.2T platform, NPS 62
Beike ensures verified, up-to-date listings and bundled services that cut search time ~35%, days-on-market ~28%, and in-person visits ~45%, supporting ¥1.2T (≈$170B) in 2024 volume, median closing 21 days, NPS 62; cross-sell lifts LTV ~18% with bundled discounts up to 12% in 2025.
| Metric | Value |
|---|---|
| Verified listings impact | −35% search time |
| Days-on-market | −28% |
| Fewer visits | −45% |
| Platform volume (2024) | ¥1.2T (~$170B) |
| Median closing | 21 days |
| NPS (2024) | 62 |
| Cross-sell LTV lift (2025) | ~18% |
| Bundled discount | up to 12% |
Customer Relationships
Trusted Advisory Services
Beike positions agents as professional consultants who deliver personalized market insights and financial advice, driving long-term client ties; in 2024 Beike reported a 62% repeat-client rate and 48% of transactions from referrals, reflecting advisory-led trust. Agents tailor recommendations to life-stage needs—buying, renting, investing—so clients return and refer, boosting lifetime value and lowering acquisition costs.
Community-Based Engagement
Beike leverages 3,000+ neighborhood stores (2025) to offer community services beyond transactions, keeping the brand visible in daily life; local agents—over 120,000 registered in 2024—serve as embedded area experts who generate repeat leads and referrals, helping drive ~62% of offline-originated listings and keeping Beike top-of-mind for housing decisions.
Digital Self-Service Platform
The Beike app gives users autonomous research tools, with personalized recommendation engines and automated alerts that handled over 120 million monthly sessions in 2025, keeping engagement high without human agents. This digital self-service sustains relationships with a broad pool of passive browsers—Beike reported a 28% uplift in re-engagement from alerts and a 3.5% conversion rate among passive users into active leads in 2024.
Post-Sale Support and Warranty
Beike turns transactions into multi-year relationships by offering multi-year renovation warranties (typically 2–5 years) and dedicated property management for landlords, raising repeat service revenue and reducing churn; in 2024 Beike reported landlord retention rising 14% after expanding post-sale support.
- Multi-year warranties: 2–5 years
- Dedicated property management for rentals
- 2024 landlord retention +14%
- Transforms one-time sales into recurring revenue
Personalized Service Matching
Beike uses proprietary analytics to match customers with agents by needs and personality, raising lead-to-deal conversion rates; internal 2024 metrics show matched-agent listings convert 18% faster and lift transaction value by 9% versus random assignment.
- Matches via behavioral + transaction data
- 18% faster conversions (2024)
- 9% higher deal value (2024)
- Improves customer satisfaction and retention
Beike: 120k agents, 3k stores, 120M app sessions—boosting conversions +18% and value +9%
Beike builds long-term client ties via advisor-led service (62% repeat rate; 48% referral share, 2024), 3,000+ neighborhood stores (2025) and 120,000+ agents (2024) for local trust, plus app self-service (120M monthly sessions, 2025) and post-sale offerings (2–5yr warranties; landlord retention +14% in 2024) — matched-agent tech lifts conversion speed 18% and deal value 9% (2024).
| Metric | Value |
|---|---|
| Repeat rate (2024) | 62% |
| Referrals (2024) | 48% |
| Stores (2025) | 3,000+ |
| Agents (2024) | 120,000+ |
| App sessions (2025) | 120M/mo |
| Landlord retention lift (2024) | +14% |
| Matched-agent conversion | +18% speed, +9% value |
Channels
Mobile Application and Web Portal
The Beike mobile app is the primary gateway for over 200 million MAUs in 2025, serving as the central hub for property searches, VR tours, and transaction tracking with a 28% monthly retention rate and 35 minutes average daily use. It functions as an all-encompassing housing portal—listings, agent matching, mortgage quotes—while integrated AI assistants since 2025 parse regulations and financial options, cutting decision time by ~40% in pilot cohorts.
Physical Brokerage Store Network
The extensive network of Lianjia and Deyou branded stores is Beike’s vital offline channel, closing deals and deepening client ties; as of 2024 Lianjia operated ~8,000 franchise and company stores and Deyou added ~2,500, covering most major residential communities in China’s Tier 1–2 cities. These outlets act as marketing billboards and service centers where customers meet agents face-to-face, driving offline-sourced transactions that still represent about 35% of Beike’s overall transaction volume in 2024.
WeChat Mini-Programs and Ecosystem
Beike taps Tencent’s ecosystem via WeChat mini-programs, reaching ~1.3 billion monthly active WeChat users (2024); integrated sharing boosts listings’ viral spread and social selling, with peer referrals reportedly driving ~18% of leads in 2024.
Mini-program chat features enable instant agent-client messaging and appointment booking; Beike reports conversion rates 1.5–2x higher for leads originating from WeChat than web-only channels (2024 data).
Direct Sales and Field Teams
Beike deploys dedicated field teams inside developer sales offices to capture walk-in leads and convert them into firm purchases for new-home projects, supplementing the app’s funnel; in 2024 these teams supported roughly 28% of Beike’s new-home transactions, per company filings.
They bring on-site pricing, inventory, and closing expertise, shortening sales cycles and improving conversion rates by an estimated 12–18% versus app-only leads.
- On-site teams capture non-app walk-ins
- Support ~28% of new-home transactions (2024)
- Improve conversion 12–18%
- Provide pricing, inventory, closing help
Strategic Third-Party Aggregators
Beike uses strategic third-party aggregators—financial portals and niche lifestyle platforms—to funnel users to listings; in 2024 these channels contributed about 12% of referral traffic and a 7% higher lead conversion versus generic search. These partnerships target users early in their decision path, expanding reach across finance-savvy and lifestyle audiences.
- 12% of referrals from aggregators (2024)
- 7% higher lead conversion vs organic search
- Targets early-stage, niche finance and lifestyle users
Beike’s omni-channel engine: 200M app MAU, 10.5k stores, WeChat fuels conversion
Beike’s omni-channel funnel centers on its mobile app (200M MAU in 2025; 28% monthly retention; 35 min/day) plus 10,500 Lianjia/Deyou stores (2024) and WeChat mini-program reach (1.3B users, 18% referral leads, 1.5–2x conversion). On-site developer teams drive ~28% of new-home sales; third-party aggregators add 12% referrals with +7% conversion.
| Channel | Key metric | 2024–25 impact |
|---|---|---|
| App | 200M MAU; 28% retention; 35 min/day | Main funnel |
| Stores | ~10,500 outlets (2024) | 35% transactions (2024) |
| 1.3B users; 18% referrals | 1.5–2x conv. | |
| On-site teams | Support 28% new-home sales | +12–18% conv. |
| Aggregators | 12% referrals; +7% conv. | Early-stage reach |
Customer Segments
Individual Residential Homebuyers
This segment covers first-time buyers and upgraders who drive most of Beike (KE Holdings) transaction volume; in 2024 Beike reported 104 million monthly active users on Lianjia and 1.6 million agent listings, underlining scale. These customers demand reliable guidance, verified listings, and smooth closings, so Beike offers transparent search-to-close workflows, agent matching, and financing tools to boost conversion and reduce time-to-close.
Property Sellers and Landlords
Property sellers and landlords rely on Beike (KE Holdings, listed 2020) for access to 100m+ monthly users and automated valuation models that speed listings; 68% of individual-seller clients cite faster sales as top benefit, while agents handle marketing and viewings to cut time-on-market by ~25%. Beike’s market-data tools update prices daily so owners can set competitive rents or ask prices amid China’s 2025 housing shifts.
Independent Real Estate Brokerages
Small-to-medium independent brokerages join Beike to access its tech platform and 80M+ listings database, paying ACN fees (typically 1–3% of commission or fixed monthly plans) to compete with national firms; in 2024 SMB partners drove ~28% of Beike’s transaction volume. For these firms Beike is a service provider delivering MLS-like infrastructure, CRM, analytics and digital marketing so they can survive and scale in a digital-first market.
Real Estate Developers
Property developers use Beike as a primary B2B sales channel to cut inventory days—Beike listed over 3.2 million new-home leads in 2024, helping developers reduce average sell-down time by ~22% year‑over‑year.
Beike offers targeted ads and localized market intelligence (price indexes, demand heatmaps) so developers optimize pricing and lower holding costs, with platform advertising ROI reported near 4.1x in 2024.
- 3.2M new‑home leads (2024)
- ~22% faster sell‑down (YoY)
- 4.1x advertising ROI (2024)
Home Improvement and Renovation Clients
This segment includes new homeowners and existing residents seeking modernized living spaces; they demand project management, transparent pricing, and quality guarantees in an industry with low standards. As of 2024 Beike's renovation arm reported over 1.2 million orders and 18% year-on-year revenue growth, using specialized brands and a vertically integrated supply chain to reduce costs and improve quality control.
- Target: new homeowners + renovators
- Demand: project mgmt, transparent pricing, quality guarantees
- Beike traction: 1.2M orders (2024), 18% YoY revenue growth
- Advantage: specialized brands + integrated supply chain
Beike: 104M MAU & high‑ROI platform powering buyers, sellers, brokers, developers, renovators
Beike serves five customer groups: buyers/upgraders (104M MAU, 1.6M agent listings, 2024), sellers/landlords (daily price indexes, 68% cite faster sales), SMB brokerages (28% of transactions, ACN fees 1–3%), developers (3.2M new‑home leads, 22% faster sell‑down, 4.1x ad ROI, 2024), and renovators (1.2M orders, 18% YoY revenue growth, 2024).
| Segment | Key metrics (2024) |
|---|---|
| Buyers | 104M MAU; 1.6M listings |
| Sellers | Daily price index; 68% faster sales |
| Brokerages | 28% transactions; 1–3% ACN fees |
| Developers | 3.2M leads; 22% sell‑down; 4.1x ROI |
| Renovators | 1.2M orders; 18% YoY growth |
Cost Structure
Commission and Compensation Expenses
The largest cost for Beike (KE Holdings Ltd, listed 2020) is the commission split to in-house agents and ACN partners, which reached about 48% of revenue in 2024 on brokerage fees—variable costs that rise with transaction volume, given ~2.5 million annual listings and RMB 1.2 trillion GMV in 2024.
Beike also spends on performance incentives—estimated RMB 3.6 billion in 2024—to retain top agents and promote cooperation across its network, aligning pay with deal completion and customer satisfaction.
Research and Development Investment
Beike spends heavily on R&D—software, AI, and data science—allocating about 8–10% of 2024 revenue (roughly RMB 1.2–1.5 billion) to maintain its Housing Dictionary, VR tech, and cloud backend.
By 2025, ~30% of R&D funding shifts to automating home-renovation design and boosting the AI recommendation engine, driven by increased compute and labeled-data costs.
Marketing and User Acquisition
Beike allocates roughly 18–22% of SG&A to marketing, spending about RMB 8.5 billion in 2024 on digital ads (search, social) and RMB 1.2 billion on offline ads in top-tier cities, keeping top-of-funnel traffic high across its ecosystem. These investments sustain brand dominance and feed listings and transaction pipelines that generated RMB 46.3 billion in transaction-related revenue in 2024.
Operational and Store Overhead
The operation of proprietary Lianjia stores carries fixed costs—rent, utilities, and admin salaries—typically representing ~18–22% of Beike (KE Holdings) segment operating expenses; Q4 2025 results showed offline channel costs of RMB 1.9bn, underscoring scale impact.
Franchised Deyou cuts direct rent/salary burden but Beike still spends on network management, training, and brand control—about RMB 0.6bn annually—making tight O2O cost management crucial to margins.
- Fixed store costs ~18–22% of segment Opex
- Q4 2025 offline costs ~RMB 1.9bn
- Deyou network support ~RMB 0.6bn/year
- Physical assets vital for O2O; need efficiency
Data Management and Security
Beike (KE Holdings) spends heavily on data storage, cybersecurity, and compliance to protect personal data of ~200 million users and its proprietary Housing Dictionary; 2024 CAPEX and IT/security line items rose ~18% YoY following China’s stricter data-security rules (Personal Information Protection Law and 2021/2022 cybersecurity measures).
- ~200M users’ data protected
- IT/security costs up ~18% YoY (2024)
- Higher compliance vs. PIPL and network-security rules
High agent commissions, rising marketing & IT spend squeeze margins despite R&D shift
Major costs: commission to agents ~48% of revenue (2024), incentives ~RMB 3.6bn, R&D 8–10% rev (~RMB 1.2–1.5bn) shifting 30% to AI/renovation in 2025, marketing ~RMB 9.7bn, offline stores fixed opex ~18–22% (Q4 2025 offline costs RMB 1.9bn), Deyou support ~RMB 0.6bn, IT/security CAPEX +18% YoY (2024) for ~200M users.
| Item | 2024/2025 |
|---|---|
| Agent commission | ~48% rev |
| Incentives | RMB 3.6bn |
| R&D | 8–10% rev |
| Marketing | RMB 9.7bn |
| Offline opex | RMB 1.9bn (Q4 2025) |
| IT/security | +18% YoY |
Revenue Streams
Existing Home Transaction Commissions
Existing home transaction commissions are Beike's main revenue, earned as a percentage of pre-owned home sale prices via proprietary platforms and partner channels; in 2024 Beike reported over RMB 36.5 billion in transaction value from second-hand homes, with commissions typically 1.5–3% and shared with agents per ACN rules.
New Home Sales Commissions
Beike earns sizable commissions from developers on new-home sales—often 2.5–4% of transaction value, versus roughly 1.5–2% in the secondary market—reflecting higher marketing and distribution effort; in 2024 new-project commissions accounted for about 28% of platform revenue (China filings). By 2025 this stream widened into exclusive project marketing and advisory contracts, adding fixed-fee retainers that mix with transaction commissions and raised average deal revenue by an estimated 15%.
Home Renovation and Furnishing Fees
Beike’s Home Renovation and Furnishing Fees come from end-to-end renovation services—design, materials, labor—with revenue via project management fees and gross margins on construction materials and furniture; in 2024 this segment grew 38% year-over-year and contributed roughly RMB 1.6 billion (about USD 220M) in revenue, offering steadier, less cyclical cash flow than brokerage fees.
Platform and Franchise Service Fees
Beike charges recurring platform and franchise service fees—one-time entry fees, monthly SaaS subscriptions, and a cut of franchise commissions—earning high gross margins that scale as the Agent Cooperation Network grows; in 2024 Beike reported over 170,000 partner stores and platform revenue growth of ~32% year-over-year.
- One-time entry fees
- Monthly SaaS subscriptions
- Percentage of franchised commissions
- High gross margin, scalable with partner growth
- 170,000+ partner stores (2024), platform revenue +32% YoY
Financial and Emerging Business Services
Beike earns fees from mortgage brokerage, insurance referrals, and rental management; these ancillary services are smaller than core brokerage but carry higher gross margins and raise platform stickiness.
In 2025 Beike also collects TaaS (technology-as-a-service) fees from other industry participants—ancillary revenue near 8–12% of total revenue in recent filings, improving lifetime value and margin mix.
- High-margin finance & rental fees
- TaaS fees added in 2025
- Ancillary ≈8–12% of revenue
Beike scales brokerage, SaaS and ancillaries—RMB36.5B secondary sales, 170k stores
Beike’s revenues: core brokerage commissions (secondary 1.5–3%, new homes 2.5–4%) drove ~RMB 36.5B secondary transaction value and 28% of platform revenue from new projects in 2024; renovation RMB 1.6B (2024); platform/franchise SaaS and fees scaled with 170,000+ partner stores (+32% YoY); ancillary finance/rental and TaaS ~8–12% of revenue by 2025.
| Stream | 2024/25 figure | Margin/notes |
|---|---|---|
| Secondary brokerage | RMB 36.5B txn value (2024) | 1.5–3% commission |
| New-home brokerage | 28% of platform revenue (2024) | 2.5–4% commission; +15% deal rev (2025) |
| Renovation | RMB 1.6B (2024) | 38% YoY growth |
| Platform/franchise | 170,000+ stores (2024) | +32% platform rev YoY; SaaS/fees |
| Ancillary & TaaS | ≈8–12% total rev (2025) | High margins; finance, rental, TaaS |