<Anchor> This is a
friendly economic time. Today (24th), I will be with reporter Kim Hye-min. Recently, a plan to reform the real estate brokerage fee has been confirmed.
<Reporter>
That's right. Every time I make a real estate transaction, I always thought that the commission was a waste. The government recently announced a plan to reform real estate brokerage fees.
Looking at how much it has fallen by section, the current and reform plans are the same when trading houses under 600 million won.
Between 600 million won and 900 million won was originally 0.5%, but it has been lowered to 0.4%. Also, between 900 million won and 1.2 billion won was cut by 0.5%, between 1.2 billion won and 1.5 billion won by 0.6%, and over 1.5 billion won by 0.7%.
For example, when buying and selling an apartment worth 600 million won, the brokerage fee was 3 million won until now, but now it drops to 2.4 million won.
Rental transaction fees have also been lowered and segmented. Less than 3 billion won is the same as it is now. It is lowered to 0.3-0.6% when making a monthly rent transaction for a house of 300 million won or more.
Importantly, not all brokers have to pay commissions as much as these rates. It's literally a cap rate, so you can tune it below this limit before you sign the contract.
<Anchor>
We reported what you just saw, and it seems like a lot of people have seen it, so I'll talk about it in detail based on this. First of all, looking at the reorganization plan, the commission fell the most between KRW 900 million and KRW 1.2 billion based on sales, but is it because this is the section with the most transactions?
<Reporter> It is
true that the section you mentioned is the section where the commission is cut the most, but it is not the most traded amount.
According to data from the Korea Research Institute for Human Settlements, only 5 out of 100 transactions worth 900 million won or more were made nationwide last year. Transactions of less than 600 million won accounted for 85.5% of the total, or almost the majority.
As I explained earlier, the upper limit commission rate did not drop for transactions under 600 million won.
So, to summarize, this reform of the brokerage fee can have the effect of reducing the fee when buying and selling an expensive house that has jumped recently, but there is no change in the upper limit rate for most transactions below that.
In addition, some believe that "there is a concern that the upper rate may be hardened to the actual rate due to the government's announcement of the reform plan."
<Anchor> That's
right. But, as I just said, this rate now has an upper limit and can be lowered sufficiently by negotiation. You must remember that. But anyway, when will the revised plan be applied?
<Reporter>
Currently, the Ministry of Land, Infrastructure and Transport has only announced measures. Relevant laws need to be amended before they can be applied.
The Ministry of Land, Infrastructure and Transport expects that the 'Revision of the Enforcement Rules of the Chartered Brokerage Act' will be completed in October at the earliest. The new rate will then be applied from 'new contracts' created after that.
As those of you who have ever written a contract know that, the brokerage fee rate is also specified here. So, the time of writing the contract is the standard, not the time of paying the balance of the commission to the broker.
If the contract was signed in September, the balance was paid in November and the fee cycle was decided at this time, then this must be paid according to the existing fee rate.
If you write only the provisional contract and amend the main contract after October, the changed fee rate can be applied.
<Anchor> The
time of writing the contract is the standard. I must remember this. However, there are many people who still feel that it is a bit expensive to feel even though it has gone down a bit. Is there any way to save some money?
<Reporter>
So these days, half-price commission companies are very popular. A real estate brokerage platform only receives a brokerage fee of 0 won when putting out a house and half of the current upper limit rate when buying a house.
It started in 2019 and has recently expanded its service nationwide, and now has over 100,000 users.
Another brokerage, which has gained word of mouth in real estate cafes and the like, is charging both sellers and buyers 'half' of the capped rate commission.
In July of last year, when the brokerage company was established, only 75 items came in. However, a year later, in July, 1,285 new listings were received. In one year, more than 17 times the number of items for sale are coming in.
Although it is part of the brokerage companies, since the price competition has started like this, you can save a lot of brokerage fees if you take the time and dig a little bit.