The Enforcement Regulations of the Certified Real Estate Brokers Act, which contain the government's reorganization of real estate brokerage fees, have recently passed the regulatory review and are expected to be implemented as early as this month.
The upper limit of the real estate brokerage commission rate is lowered from 600 million won or more for sales and 300 million won or more for rentals.
According to the Ministry of Land, Infrastructure and Transport, the amendment to the Enforcement Rules of the Real Estate Brokers Act, which includes measures to reorganize real estate brokerage fees, recently passed the Regulatory Reform Committee.
The amendment to the enforcement rules is expected to come into effect as early as this month if it passes the review by the Ministry of Legislation.
The gist of the brokerage fee reorganization plan is to lower the maximum rate (hereinafter referred to as the rate) for purchases of KRW 600 million or more and rental contracts of KRW 300 million or more.
The rates are subdivided for sales over 900 million won and for rentals over 600 million won.
In the case of trading, the rate in the range of 600 million won to 900 million won is lowered by 0.1 percentage points from the current 0.5% to 0.4%, 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 1.5 billion won or more The % rate is subdivided and applied.
In the case of rental, the commission rate is reduced from 0.4% to 0.3% for 300 million to 600 million won, 0.4% for 600 million to 1.2 billion won, 0.5% for 1.2 billion to 1.5 billion won, and 0.6% for more than 1.5 billion won. will be enforced.
In this case, the brokerage fee for selling a house worth 900 million won will be cut by half from 8.1 million won to 4.5 million won, and the 600 million won jeonse transaction fee will be reduced by half from 4.8 million won to 2.4 million won, respectively.