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Korean Job Discussion Forums
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EZE
Joined: 05 May 2012
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 Posted: Fri May 23, 2014 2:49 am Post subject: Re: So tired of Korea and their realtors 부동산s |
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| Overture1928 wrote: |
| They are always like "what if the landlord is fake and doesn't own the building or takes everyone's money and runs away?" |
If fake landlords are that common, there are bound to be a lot of fake 부동산s too. Man, I feel lucky my hagwon deals with all of that instead of me. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Fri May 23, 2014 5:52 am Post subject: |
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I've had nothing but good experiences with Korean real estate agents on several occasions. They worked hard to help me find what I was looking for, showed me lots of places, checked the owners' financial soundness, & stepped me through registering my key money. All for the reasonable govt-mandated fee they're allowed to charge. Even treated me to dinner with their family.
Not saying they're all great but some are. |
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Overture1928
Joined: 12 Jan 2014
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| Posted: Fri May 23, 2014 9:00 am Post subject: Re: So tired of Korea and their realtors 부동산s |
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| optik404 wrote: |
| Overture1928 wrote: |
| This is a rant. I am so frustrated with the whole Realtor system in Korea. For the most part, they are an unnecessary overpriced middle man. $400-$900 for a couple hours of work? That's getting up to what a lawyer makes. Do you even need to go to university to be a realtor in Korea? Often they generally don't even have many places to choose from. You may think oh this waygook doesn't have money but I would say I have an average amount, 10K and around 1k a month for rent. They show me 2 places and expect me to make a decision by tomorrow. Yea right, GFYS. Back in North America you simply go on Kijiji/craigslist or walk into an apartment and ask to talk to the landlord to see if rooms are available and how much rent is etc. Koreans don't understand this system when I explain it to them. They are always like "what if the landlord is fake and doesn't own the building or takes everyone's money and runs away?" This just seems like a ridiculous question but I guess it has happened enough times in Korea that they thought they needed a middle man to take care of this situation. Just a total pain in the ass especially for people wanting to relocate multiple times a year. I guess part of it is because the people who own apartments/villas are old and not tech savy. They don't know how to advertise, especially on the internet. Don't get me started on the whole Key Money thing. Thank you, this has been therapeutic. |
This happens in the States, the fake landlord scam. |
How does this happen? I mean you walk into the building and buzz for the landlord. They will take you in their office and fill out forms, show you the units they have available. How could a "fake" landlord have access to the real landlords office, the units and know what forms to have you fill out? |
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Overture1928
Joined: 12 Jan 2014
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| Posted: Fri May 23, 2014 9:07 am Post subject: |
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| Steelrails wrote: |
You're getting what you pay for. I mean, you're bringing $10,000 to the table. That doesn't make you Bill Gates. That gets you a decent used car. What, you're expecting the red carpet treatment for 10k? That's not an average amount.
I agree the rates are a bit much for showing a one-room and there can be a bit much in the bureaucracy, but you might have a different experience in terms of customer service if you were bringing real money to the table. You're asking the real estate agent to treat you like a homebuyer when basically you're a glorified extended stay hotel guest. |
It's not about the experience. I don't want any service from a Realtor. I don't need some loser to hold my hand and walk me around the block to show me apartments. I can do it myself. It's the fact that Korea forces you into a ridiculous system. Its about how unnecessary they are in 2014. |
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Overture1928
Joined: 12 Jan 2014
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| Posted: Fri May 23, 2014 9:12 am Post subject: |
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| modernseoul wrote: |
| And just like when getting a job you can go direct and cut out the middle man. |
I have been trying to go direct but so far security guards and front desk people just tell me to go talk to the 부동산. |
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optik404
Joined: 24 Jun 2008
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| Posted: Fri May 23, 2014 4:30 pm Post subject: Re: So tired of Korea and their realtors 부동산s |
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| Overture1928 wrote: |
| optik404 wrote: |
| Overture1928 wrote: |
| This is a rant. I am so frustrated with the whole Realtor system in Korea. For the most part, they are an unnecessary overpriced middle man. $400-$900 for a couple hours of work? That's getting up to what a lawyer makes. Do you even need to go to university to be a realtor in Korea? Often they generally don't even have many places to choose from. You may think oh this waygook doesn't have money but I would say I have an average amount, 10K and around 1k a month for rent. They show me 2 places and expect me to make a decision by tomorrow. Yea right, GFYS. Back in North America you simply go on Kijiji/craigslist or walk into an apartment and ask to talk to the landlord to see if rooms are available and how much rent is etc. Koreans don't understand this system when I explain it to them. They are always like "what if the landlord is fake and doesn't own the building or takes everyone's money and runs away?" This just seems like a ridiculous question but I guess it has happened enough times in Korea that they thought they needed a middle man to take care of this situation. Just a total pain in the ass especially for people wanting to relocate multiple times a year. I guess part of it is because the people who own apartments/villas are old and not tech savy. They don't know how to advertise, especially on the internet. Don't get me started on the whole Key Money thing. Thank you, this has been therapeutic. |
This happens in the States, the fake landlord scam. |
How does this happen? I mean you walk into the building and buzz for the landlord. They will take you in their office and fill out forms, show you the units they have available. How could a "fake" landlord have access to the real landlords office, the units and know what forms to have you fill out? |
Not every landlord in the US owns multiple units, has an office, etc. I rent out my townhouse back home and I don't have an office or own units.
If you're really curious, Google it. Basically how it works is, people gain access to a place they know is empty, advertise it on craigslist, then ask for 1/2/3 months upfront + security deposit. They say they are going on vacation and they give you a key that doesn't work. When you try to contact them, the line has been disconnected. |
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SeoulNate
Joined: 04 Jun 2010
Location: Hyehwa
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| Posted: Fri May 23, 2014 4:39 pm Post subject: |
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| schwa wrote: |
I've had nothing but good experiences with Korean real estate agents on several occasions. They worked hard to help me find what I was looking for, showed me lots of places, checked the owners' financial soundness, & stepped me through registering my key money. All for the reasonable govt-mandated fee they're allowed to charge. Even treated me to dinner with their family.
Not saying they're all great but some are. |
Also have had good (along with a few bad) experiences with many of them over the years.
The best thing about them?
There are 100 in every square KM of Seoul. Don't like one? Find another one 10m away. One is an asshat? Okay, go next door to the nice one. |
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fustiancorduroy
Joined: 12 Jan 2007
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| Posted: Fri May 23, 2014 7:39 pm Post subject: |
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| Overture1928 wrote: |
| modernseoul wrote: |
| And just like when getting a job you can go direct and cut out the middle man. |
I have been trying to go direct but so far security guards and front desk people just tell me to go talk to the 부동산. |
I'd rather go into a Realtor's and get access to dozens of apartment listing and all the appropriate background information about the owners than have to do all that research by myself. Once I find a few places I like, I usually go to the Naver 부동산 website and find the place online and make sure the price I'm being quoted is the actual market rate.
As for being treated well by a Realtor, every time I have gone to one in Soraemaeul, Cheongdam, Samsong, etc. the Realtors practically fall over themselves to give me the best service. But that's probably because in those cases I told them I want to do 전세 with 15억원 or that I was willing to pay 1500만원 a month rent. |
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World Traveler
Joined: 29 May 2009
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| Posted: Sat May 24, 2014 12:34 am Post subject: |
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15억원 = 1,500,000,000 won (one and a half million dollars)
How the #$%^ did you get that much money? Did you save it? Or did you get a loan? (From what i heard it is nearly impossible for foreigners to get loans, especially those not married to a Korean citizen.) |
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Lazio
Joined: 15 Dec 2010
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| Posted: Sat May 24, 2014 1:34 am Post subject: |
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| World Traveler wrote: |
15억원 = 1,500,000,000 won (one and a half million dollars)
How the #$%^ did you get that much money? Did you save it? Or did you get a loan? (From what i heard it is nearly impossible for foreigners to get loans, especially those not married to a Korean citizen.) |
He likes to throw these big figures around and expect us to drop our jaws. 15 million a month for rent?! Yeah, right. That's like twice his claimed salary. |
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optik404
Joined: 24 Jun 2008
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| Posted: Sat May 24, 2014 1:38 am Post subject: |
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Wow, he must make a huge amount of money at his top-tier hagwon to afford 15K USD a month for just rent.
No way he's lying. You think someone would really do that? Just go on the internet and lie? |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Sat May 24, 2014 1:56 am Post subject: |
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Wow, he must make a huge amount of money at his top-tier hagwon to afford 15K USD a month for just rent
No way he's lying. You think someone would really do that? Just go on the internet and lie?
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He lied to the realtors so he could get to look around some posh apartments. He wrote about doing this a while ago. Nothing to see here, move on. |
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LPKSA
Joined: 24 Feb 2014
Location: Saudi Arabia
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| Posted: Sun May 25, 2014 7:39 pm Post subject: |
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| If you're going to rent on your own, make sure that the apartment is insured. From what I remember of living in SK, it's illegal to rent to foreigners if the apartment is not insured, but, you can sure find some interesting places to live. Some of the best times I had were when I was in between jobs, living on friends floors, being a burden and all, in reasonably priced, yet questionably safe accommodations. Believe it or not, some Budongsans aren't out to steal your money, but they don't all play by the books. Protect yourself. |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Sun May 25, 2014 11:52 pm Post subject: |
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It drove my wife and I nuts trying to find a place to live last time. We went to several real estate agents, and at most of them, it was like this:
Us: "Hi, we're looking for a two bedroom place around here."
Realtor: "Oh, a one room? Great, we have lots."
Us: "No, not a one room. Two bedroom, meaning a separate kitchen and living room as well."
Realtor: "Right, you want a one room. Let me.."
Us: "Stop! Listen, please. We do not want a one room. There are two of us, and we are not interested in a one room."
Realtor: "I'm so sorry. I understand now. Follow me, there's a place just around the corner."
Sure enough, he takes us to a goddamn one room. To add even more frustration to it, he doesn't understand why we're upset.  
After several realtors doing this kind of idiocy, we finally found one who showed us what we were looking for. Very frustrating, though! |
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IlIlNine
Joined: 15 Jun 2005
Location: Gunpo, Gyonggi, SoKo
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| Posted: Mon May 26, 2014 1:35 am Post subject: |
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| cdninkorea wrote: |
It drove my wife and I nuts trying to find a place to live last time. We went to several real estate agents, and at most of them, it was like this:
Us: "Hi, we're looking for a two bedroom place around here."
Realtor: "Oh, a one room? Great, we have lots."
Us: "No, not a one room. Two bedroom, meaning a separate kitchen and living room as well."
Realtor: "Right, you want a one room. Let me.."
Us: "Stop! Listen, please. We do not want a one room. There are two of us, and we are not interested in a one room."
Realtor: "I'm so sorry. I understand now. Follow me, there's a place just around the corner."
Sure enough, he takes us to a goddamn one room. To add even more frustration to it, he doesn't understand why we're upset.
After several realtors doing this kind of idiocy, we finally found one who showed us what we were looking for. Very frustrating, though! |
I believe that the word you were looking for was "two room" |
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