Beihaojia Wubin: Das durchschnittliche Verhältnis von Besichtigungen zu Verkäufen ist auf 16,8:1 gestiegen. Nur durch die Methode "Wohnung nach Person auswählen" kann die Zwischenkosten gesenkt werden.

“It's not that the sales channels are blocked today. Instead, it often comes down to whether the product truly meets the users' demands,” said Wu Bin, the General Manager of the C2M Innovation Center of Beihaojia, a subsidiary of Beike, at the “2025 Second New - Quality Productivity Empowering Future Housing Development Forum” hosted by China Real Estate News on November 5th.

Wu Bin pointed directly at the core pain points in current real - estate development. After the real - estate industry entered a “buyer's market” in a deep adjustment phase, he and the Beihaojia team didn't bring another competition story of a developer. Instead, they introduced a new C2M (Customer to Manufacturer) housing development model based on data and centered around customers. The aim is to provide partners with the systematic ability to “build the right houses.”

The theme of this forum was “Reshaping Intelligent Spaces.” It received academic support from the China Urban and Regional Governance Research Institute, JD Group, and 36Kr Research Institute, gathering elites from all sectors to jointly discuss the industry's future.

01

From 'Houses Finding People' to 'People Defining Houses'

At the beginning of his speech, Wu Bin used a set of sharply contrasting data to reveal the significant changes in the underlying market logic. He pointed out that the transaction structure of the primary and secondary real - estate markets has undergone a fundamental reversal. The proportion of secondary - hand housing transactions in first - and second - tier cities has reached as high as 70%, and even 80% nationwide, becoming the market's dominant force. This means that based on the massive amount of real transaction data and customer behavior data accumulated in the secondary - hand housing market, it is possible to more accurately understand the future demand and price transmission path of the primary housing market.

The more crucial change lies in the supply - demand relationship. Wu Bin shared a key indicator - the “ratio of newly - added effective customers to rooms (the ratio of newly - added customers with house - viewing actions to newly - added housing units).” Before 2021, this value was always greater than 1. After 2021, it dropped sharply. Although it has rebounded in the past two years, it still remains below 1,” he added. The decision - making cycle of transaction customers has significantly lengthened, rising from an average of 10 house - viewings per transaction in 2021 to 16.8 times today.

“There are already few customers, and they are not in a hurry to make a purchase,” Wu Bin summarized. “The entire market is indeed facing more severe challenges.” He acutely pointed out that the root cause of developers' dilemmas often lies not in the sales end but in the product end itself. The traditional linear development process of “land acquisition - feasibility study - design - sales” is prone to causing a “mismatch between products and customers” in the current market. Once the “houses don't match the people,” even the most powerful sales channels can't turn the situation around.

“We hope that in future development, customers come first, not the houses,” Wu Bin described the ideal development scenario: Before land acquisition, conduct preliminary product positioning through the C2M data model, manual feasibility study, and real customer connections. After land acquisition, further iterate the plan and let real customers continuously participate in the entire process of product positioning and design.

In this way, the product - building process itself becomes a process of continuously responding to and meeting users' housing demands. At the same time, since the product precisely matches the customers' needs, “precise customer accumulation” can be completed during the design and construction stages. “The most ideal state is to sell out all the houses at the opening, with all the houses already having buyers,” Wu Bin said.

02

Beihaojia Doesn't Want to Be a Developer

Facing the dilemma, Wu Bin proposed Beihaojia's solution: to build a new data - driven C2M real - estate development model, whose core idea is highly consistent with the “people - defining - houses” concept put forward by Minister Ni Hong of the Ministry of Housing and Urban - Rural Development.

To achieve this vision, Beihaojia is focusing on building three core capabilities.

First, the C2M product positioning ability, with the key being scientific “pricing” and “unit configuration.” Wu Bin particularly emphasized the crucial importance of scientific pricing during the market adjustment period. Beihaojia's approach is to deconstruct and quantify the core indicators affecting the value of a property, such as proximity to the subway, school districts, commercial areas, and floor levels. Through algorithmic models, it can depict the specific premium ability of each factor in different scenarios, thus outputting a more stable and realistic price expectation.

Regarding “unit configuration” (the ratio of different apartment sizes), Beihaojia analyzes the land's grade and quality, combines insights into the performance of the primary and secondary housing markets, customers' purchasing power, and area preferences to determine what kind of customer group a piece of land is suitable for and what size range of products should be built, thereby avoiding the fatal problem of “wrong customer group targeting” from the source.

Second, the in - depth customer insight ability. Relying on the Beike platform, Beihaojia can create a three - dimensional portrait of potential customers, including their workplace and residence distribution in different areas, price and area preferences, and family structure, to accurately locate where the target customer group comes from and what their real needs are.

Third, the online customer participation ability. Beihaojia is trying to build an online community called “Co - building a Good Home.” Taking a pilot project in Shanghai as an example, the platform has launched 107 items, from land plot interpretation, project research to home - buying knowledge popularization, to guide customers to actively express their opinions on house design. “Among 100 customers, 20 will give relatively in - depth feedback on these issues,” Wu Bin introduced. This in - depth customer interaction provides valuable first - hand data for product optimization.

“We don't want to be a developer,” Wu Bin said. Beihaojia positions itself as a data - driven housing development service platform. Based on big - data analysis and AI algorithms, Beihaojia is committed to providing “C2M full - chain solutions” covering product positioning, design, construction, and marketing from the front - end to the back - end for partners such as developers, property owners, and construction agents with the C2M concept at its core.

As of the end of October 2025, Beihaojia had implemented a total of 17 projects in Beijing, Shanghai, Guangzhou, Chengdu, Xi'an, Hangzhou, Nanjing, Changsha, Foshan, Wuhan and other places, covering various cooperation models.

Wu Bin revealed that currently, the two projects fully self - operated by Beihaojia (Chengdu Beichen S1 and Shanghai Beilian C1) are just “experimental fields.” The purpose is to comprehensively verify Beihaojia's capabilities in C2M precise positioning, design, construction, and marketing through hands - on practice, so that it can more confidently provide C2M full - chain solution services for developers in the future. “Apart from these two exemplary projects, Beihaojia won't undertake self - operated projects in the future.”

This article is from “China Real Estate News,” author: Liang Xiaomei, published by 36Kr with authorization.