‘Daangn,” a used goods trading platform, launched a direct real estate transaction service last year. As a result, villas, officetels, apartments, and shopping malls for rent now appear in Daangn’s real estate category. According to the Ministry of Land, Infrastructure and Transport, on February 14, there were 373,485 apartment sales nationwide last year. Among them, direct transactions were recorded at 39,991 (10.7%). This results in over 15% of the direct transaction rate in 2022.
What are the differences between direct real estate transactions in the past and present? In the past, direct real estate transactions were conducted during rapid price rises or to avoid heavy taxation for those who own multiple homes. Therefore, gift transactions were often conducted between specially related people, such as family members. On the other hand, today, direct real estate transactions are carried out to save on brokerage fees and to easily confirm information. With the development of direct transaction applications such as Naver Cafe, ‘Zip Panda’, and ‘Pajikka’, direct real estate transactions without a broker occur in about one in 10 cases. Reducing brokerage fees during a recession is an advantage for consumers.
However, if you transact directly without a licensed real estate agent, the risk of contract fraud increases. This is because when signing a contract, it is necessary to check various areas such as confirmation of the parties, analysis of rights relationships, presence of defects, and responsibility for accidents. However, there are limits to how ordinary people can take care of everything on their own.
An example of fraud might be listing a neat and good-condition property at a low price on a platform. Then, they tell people that the property has just sold when they call. In addition, there are cases where the landlord hides the debt relationship by forging documents, or a fake landlord who only borrows his name enters into a contract. Therefore, experts advise that in order to reduce the risk of false listings and fraud when conducting direct transactions, it is safer to sign contracts through a licensed real estate agent. ‘Daangn’ advises that the process of issuing and confirming a registration certificate is essential when conducting a transaction. Also, we request that the contract be written as a standard contract and that the deposit be transferred directly to the lessor’s account.
