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Improve the realtor fee!
Amend the relevant municipal ordinance!
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#701 Seoul YWCA 20, Myeong-dong 11-gil, Jung-gu, Seoul, Korea
TEL.: 82-2-774-4050/FAX: 82-2-774-4090
Amend the relevant municipal ordinance!
The Ministry of Land, Infrastructure and Transport (MOLIT) has finalized the amendment regarding the realtor fee system, including the lowering of the fee for buying or renting a private house priced between 300 million won and 600 million won and has implemented a new rate for renting owning a small officetel (one-room studio).
We at KNCCO find the following readjustment of realtor fees as being reasonable with the realistic situation of the housing market in Seoul taken into account: the readjustment of the realtor fee to not be more than 0.4% and 0.5% for renting a house priced between 300 million won and 600 million won; the readjustment of realtor fee for renting or owning a small-sized officetel (one-room studio) for which a high rate of 0.9% used to apply.
The local government needs to amend the relevant municipal ordinances so that the newly adjusted realtor fee system may apply immediately.
We also expect realtors to take part in the effort for the invigoration of real estate transactions and trust building between themselves and consumers on the occasion of the realtor fees being readjustment.
-----------------------------Partners of Korea National Council of Consumer Organizations------------------------------
National YMCA of Korea, Green Consumers Network in Korea, Korea Federation of Housewives Clubs, National Council of Homemakers Classes, Korea Consumer Education Center, National Council of YMCAs of Korea, Consumers Union of Korea, Consumer Affairs Institute, Citizens Alliance for Consumer Protection of Korea
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