Triple crisis in the brokerage business... Rapid change in market environment? Transaction cliff? Intensifying competition
Remax Korea, a global real estate franchise company, will hold the '2020 Real Estate Brokerage Success Strategy Concert' at POSCO Tower Yeoksam in Yeoksam-dong, Gangnam-gu on August 18. In the '2020 Real Estate Brokerage Success Strategy Concert', three instructors with both practical and theoretical knowledge will lecture on key strategies for success in the rapidly changing brokerage environment.
△Specific details of the revision of the Brokerage Business Act △Effective measures to respond to the revision of the law △The reality of the 2020 brokerage industry paradigm shift △New perspectives and strategies for the success of the 2020 brokerage industry, etc. Analyzing the essence of changes in the current brokerage industry environment and innovative measures and strategies to overcome them is scheduled to be shared.
The revised Licensed Real Estate Agent Act will come into effect on August 21. Among the revised contents, in particular, 'Specifications on labeling and advertising of brokerage objects' and 'Unfair labeling and advertising of brokerage objects' are expected to have a significant impact on brokerage activities. Looking at the detailed standards of the law, only licensed real estate agents can post listing advertisements, and the brokers are required to accurately post the listing location, area, price, type of brokerage object, and transaction type. It seems likely that brokers who do not specifically understand the purpose and content of the law revision will suffer a significant disadvantage.
In addition, real estate taxation and lease laws will also change significantly. Revolutionary measures that can completely remove the 'detonator' of rising housing prices have been poured out, such as the unprecedented strengthening of the triple tax system of acquisition tax, comprehensive real estate tax, and transfer tax, blocking gap investment by revising the three rental laws, and blocking the source of real estate investment by real estate corporations and multi-homeowners.
If we compare these measures to boxing, they are not jabs but cross punches. The various existing regulatory measures had a strong short-term prescription aspect, so when the effectiveness of the regulatory measures fell, prices rose again, creating a vicious cycle. But this measure is on a different level. It is expected to have a significant ripple effect as the focus is on blocking expectations of rising housing prices, which are a key link in the apartment investment craze. It is expected that this will have a significant impact on the brokerage industry in the mid to long term.
Shin Hee-seong, CEO of Remax Korea, who hosted this seminar, said, “The brokerage industry environment is literally changing in a revolutionary way.” He added, “The various conditions of brokerage marketing, such as the rental environment, property tax system, and exclusive brokerage system, are facing a decisive turning point in transitioning to the model of developed countries. “He diagnosed the current situation.
He then stated the purpose of the event, saying, “We have prepared an opportunity to think and study together what kind of impact this wave of change will have on the brokerage industry and find ways to respond.”
Anyone, including newly opened real estate agents, prospective real estate agents, and those interested in the real estate business, can apply for participation. The number of participants is limited to 50 on a first-come, first-served basis, and advance registration is required.
