In the case of an apartment with a market price of 900 million won, the brokerage fee for rent falls from 8.1 million won to 4.5 million won, and for an apartment of 600 million won, it falls from 4.8 million won to 2.4 million won.
On the 20th, the Ministry of Land, Infrastructure and Transport confirmed the ‘Real estate brokerage fee and improvement plan’.
Transactions of 600 million won or more and rentals of 300 million won or more are subject to transactions.
The brokerage fee system is a structure in which users and brokers set an upper limit on the rate, rather than a fixed rate, within the upper limit.
Brokerage fees are linked to real estate transaction prices, so house prices have risen significantly in recent years.
Accordingly, the government has decided to lower the upper limit rate from the trading section of 600 million won or more.
The rate for the 600-900 million won section will be lowered by 0.1 percentage point from 0.5% to 0.4%.
The rate is changed from 0.9% for all over 900 million won to 0.5% for 900 million won to 1.2 billion won, 0.6% for 1.2 billion won to 1.5 billion won, and 0.7% for over 1.5 billion won.
In this case, the upper limit of the transaction fee of 900 million won will be reduced from a maximum of 8.1 million won (0.9% of 900 million won) to 4.5 million won (0.5% of 900 million won), which is half the price. A maximum of 10.8 million won (0.9% of 1.2 billion won) to 7.2 million won (0.6% of 1.2 billion won) is applied for 1.2 billion won.
The rental contract fee is lowered for transactions of 300 million won or more.
The 300-600 million won transaction will be reduced from 0.4% to 0.3%.
In addition, 0.8% was initially applied to all purchases of KRW 600 million or more, but in the future, the rates will be differentially applied to 0.4% for KRW 600-1.2 billion, 0.5% for KRW 1.2-1.5 billion, and 0.6% for KRW 1.5 billion or more.
Measures to protect consumers in the event of a brokerage accident will also be strengthened. The limit of liability guarantee of certified brokers is raised from 100 million won to 200 million won per year for individuals and from 200 million won to 400 million won for corporations. The statute of limitations for payment claims will also be increased from the current 2 years to 3 years.
In addition, to enhance the professionalism and competitiveness of certified real estate agents, a plan to adjust the number of successful applicants for new certified real estate agents is being discussed. It is said that measures such as increasing the difficulty of the test or introducing a relative evaluation system are being discussed.