▲On the 17th, in front of the Ministry of Land, Infrastructure and Transport in Sejong City Government Complex, the Korean Association of Certified Real Estate Brokers held a press conference opposing the cut in brokerage fees and protested that the Ministry of Land, Infrastructure and Transport could not accept the unilateral reorganization of brokerage fees. (yunhap news )
The real estate brokerage industry is strongly opposed to the government’s plan to lower the upper limit for real estate brokerage fees.
According to the Association of Realtors of Korea on the 21st, the day before, the Association of Realtors held an emergency response meeting in front of the Ministry of Land, Infrastructure and Transport in Sejong City, where executives, organizers, and delegates from all over the country gathered. The association issued a statement after discussing its position on the government’s policy and future countermeasures.
In a statement, the association said, “The government is trying to cover the failure of real estate policies at the expense of real estate agents.
The previous day, the Ministry of Land, Infrastructure and Transport confirmed the commission rate reform plan to lower the upper limit of the real estate brokerage commission rate from 600 million won or more for sales and 300 million won for rentals from October. When selling a house worth 900 million won, the highest brokerage fee will be lowered from 8.1 million won to 4.5 million won. The highest commission for a 600 million won jeonse transaction is 2.4 million won, which is half of 4.8 million won.
The association believes that procedural justice was not properly followed in that the government announced the final bill immediately after the debate on the 18th.
Real estate agents in some regions have been jointly closed from the previous day to protest the government’s policy.
