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Overture1928
Joined: 12 Jan 2014
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 Posted: Thu May 22, 2014 8:14 am Post subject: So tired of Korea and their realtors 부동산s |
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| 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. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Thu May 22, 2014 3:19 pm Post subject: |
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It's YOUR fault. YOU wanted to live in Korea, so you have to TAKE the bad with the good. Now bend over and prepare yourself.
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Lucas
Joined: 11 Sep 2012
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| Posted: Thu May 22, 2014 3:29 pm Post subject: |
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There is a growing trend now for house owners to list their houses online themselves, paying a small fee to the web designer.
My K buddy rented his house out this way a few weeks ago, he told me lots of web savvy graduates are starting these businesses these days, maybe have a look online for your area......? |
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Savant
Joined: 25 May 2007
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| Posted: Thu May 22, 2014 3:40 pm Post subject: |
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They are up there in the shady department right next to recruiters.
Their "commission fee" set up is ridiculous. Pay them a fee to move in somewhere and also a fee to move out of the same goddamn place. Thieves; the lot of them. |
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optik404
Joined: 24 Jun 2008
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| Posted: Thu May 22, 2014 3:41 pm Post subject: Re: So tired of Korea and their realtors 부동산s |
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| 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. |
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optik404
Joined: 24 Jun 2008
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| Posted: Thu May 22, 2014 3:42 pm Post subject: |
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| Savant wrote: |
They are up there in the shady department right next to recruiters.
Their "commission fee" set up is ridiculous. Pay them a fee to move in somewhere and also a fee to move out of the same goddamn place. Thieves; the lot of them. |
You aren't supposed to pay them anything when you move out, unless you break your contract and move out early. |
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Savant
Joined: 25 May 2007
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| Posted: Thu May 22, 2014 4:11 pm Post subject: |
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| optik404 wrote: |
| Savant wrote: |
They are up there in the shady department right next to recruiters.
Their "commission fee" set up is ridiculous. Pay them a fee to move in somewhere and also a fee to move out of the same goddamn place. Thieves; the lot of them. |
You aren't supposed to pay them anything when you move out, unless you break your contract and move out early. |
I am moving out early on my 2nd year contract and I don't mind paying something to 'break' it but paying them to find me somewhere when the landlord is also paying them is a joke. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Thu May 22, 2014 4:49 pm Post subject: |
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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. |
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optik404
Joined: 24 Jun 2008
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| Posted: Thu May 22, 2014 5:01 pm Post subject: |
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| Are you saying that someone who buys a house or puts down a 200K deposit gets the realtor fee waived? |
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Chaparrastique
Joined: 01 Jan 2014
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| Posted: Thu May 22, 2014 6:14 pm Post subject: Re: So tired of Korea and their realtors 부동산s |
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| Overture1928 wrote: |
| Do you even need to go to university to be a realtor in Korea? |
You can be anything you want in Korea, no qualifications or experience required. |
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Chaparrastique
Joined: 01 Jan 2014
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| Posted: Thu May 22, 2014 6:21 pm Post subject: Re: So tired of Korea and their realtors 부동산s |
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| optik404 wrote: |
| the fake landlord scam. |
They also do the bait and switch
- show you an apartment that is different to the one you end up getting.
or they show you one apartment and claim it to be the same as another one that they will give you (which is presently unavailable for viewing) and then land you with some other one.
This is particularly easy for them to pull if its your school that is signing the papers rather than yourself. |
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modernseoul
Joined: 11 Sep 2011
Location: Seoul
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| Posted: Thu May 22, 2014 7:34 pm Post subject: |
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Realtors or 부동산s here in Korea are required by law to pass a test and register with both the local gu and tax offices. They are also required to hold a Degree (not sure if there is a specific field required). They also need to a finances totaling over 10million won.
Similar rules apply for recruiters. And just like when getting a job you can go direct and cut out the middle man. |
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Underwaterbob
Joined: 08 Jan 2005
Location: In Cognito
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| Posted: Thu May 22, 2014 9:12 pm 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. |
Why then was I recently offered a decent deal on a townhouse that turned out to have a bunch of debt tied to the property that had I shelled out the 135k (for which I would expect at least a carpet if not red) for the house, I would have ended up having to cover? I was shown this house by a 부동산 agent who was eager to sell and said nothing of any debt. Thankfully, we had the sense to check out the house out first.
Real estate is a crooked f***ing business the world over. |
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Mr. BlackCat
Joined: 30 Nov 2005
Location: Insert witty remark HERE
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| Posted: Thu May 22, 2014 10:58 pm Post subject: |
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| Underwaterbob wrote: |
| 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. |
Why then was I recently offered a decent deal on a townhouse that turned out to have a bunch of debt tied to the property that had I shelled out the 135k (for which I would expect at least a carpet if not red) for the house, I would have ended up having to cover? I was shown this house by a 부동산 agent who was eager to sell and said nothing of any debt. Thankfully, we had the sense to check out the house out first.
Real estate is a crooked f***ing business the world over. |
SR will defend any Korean, especially against an evil foreigner. The details don't matter. If the situation was reversed he'd be here crying racism and how foreigners always try to hurt the Mighty Korean. The guy has been adamantly defending the Sewol captain on here for the last month, calling anyone who thinks he did something wrong a racist. SR is just that kind of guy. Don't take him seriously.
I do look forward to hearing about his extensive experience in real estate and that his mother, father, grandparents, brothers, sisters, 3 aunts, 5 uncles and family dog were all professional realtors so he understands this situation better than anyone ever, though. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Fri May 23, 2014 12:29 am Post subject: |
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| Mr. BlackCat wrote: |
| Underwaterbob wrote: |
| 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. |
Why then was I recently offered a decent deal on a townhouse that turned out to have a bunch of debt tied to the property that had I shelled out the 135k (for which I would expect at least a carpet if not red) for the house, I would have ended up having to cover? I was shown this house by a 부동산 agent who was eager to sell and said nothing of any debt. Thankfully, we had the sense to check out the house out first.
Real estate is a crooked f***ing business the world over. |
SR will defend any Korean, especially against an evil foreigner. The details don't matter. If the situation was reversed he'd be here crying racism and how foreigners always try to hurt the Mighty Korean. The guy has been adamantly defending the Sewol captain on here for the last month, calling anyone who thinks he did something wrong a racist. SR is just that kind of guy. Don't take him seriously.
I do look forward to hearing about his extensive experience in real estate and that his mother, father, grandparents, brothers, sisters, 3 aunts, 5 uncles and family dog were all professional realtors so he understands this situation better than anyone ever, though. |
WRONG. He did his internship at a realtor's office in San Diego, but that Realtor had a brother that was a K-realtor in Korea. That's how he knows all about realty-everything. |
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