"Using Second-Hand Apps to Save on Brokerage Fees"... What to Check in Direct Real Estate Transactions

Where do you usually go nowadays when looking for a place to live?

In the past, people would head straight to a local real estate agency, but with the development of the internet, that landscape is gradually changing.

Now, with just a smartphone, you can check actual transaction prices and market rates in any neighborhood.

It has even become possible to contact landlords directly for a house you like.

Coupled with the demand to save on brokerage fees, the direct real estate transaction market is growing rapidly.

In fact, the number of completed real estate transactions on one second-hand trading platform surged 222-fold in three years, going from 268 cases in 2021 to about 59,000 cases in 2024.

News like this is likely not very welcome for local real estate agents.

Last year, the number of newly opened real estate agencies stood at around 9,000.

This is the lowest figure since 1998, during the foreign exchange crisis.

Moreover, the number of real estate agencies that closed down reached about 12,000, exceeding the number of new openings.

However, direct transactions require the contracting parties to take care of many things on their own.

Before signing a contract, you must verify whether the other party is the actual owner, and carefully examine the registry certificate to check for any mortgages, seizures, or trust registrations.
※ Please note: This article was translated by AI and may contain errors.