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  "documentTitle": "KE Holdings (BEKE)",
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  "notes": "The slide uses a combination of a revenue bridge table and a city-specific commission discount table to argue for systematic revenue inflation.",
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      "text": "A former Lianjia agent in Shenzhen published a tell-all blog in 2020, revealing that BEKE company policy was to go as low as 2% on commissions, despite official rates of 3%.",
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      "text": "A former Lianjia agent in Shenzhen published a tell-all blog in 2020, revealing that BEKE company policy was to go as low as 2% on commissions, despite official rates of 3%.",
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      "text": "17 https://zhuanlan.zhihu.com/p/142956970, dating back to the period of its US IPO announcement. 18 Conversations with Lianjia stores' and connected stores' agents",
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      "kind": "title",
      "text": "BEKE Likely Inflated Its Home Sales Transaction Services Revenues (using reported commission rates)",
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