Real Estate Agent Association Collaborates with PropTech Firms... "Tax Calculation and Credit Inquiry Services"

The Korea Association of Realtors recently announced on the 13th that it is promoting mutual growth by consecutively signing business agreements with proptech (a combination of real estate and technology) companies.

First, on the 6th of last month, it signed a business agreement with 'Atiwells,' a real estate tax startup, to advance the real estate industry and enhance service quality. Realtors affiliated with the association can now provide more accurate tax calculations through the 'MyRealtor' (automatic tax calculation) service offered by Atiwells on the transaction information network 'Hanbang.'

MyRealtor is designed to provide various information to assist customers visiting realtor offices with asset management, including ▲calculation of capital gains tax, comprehensive real estate tax, acquisition tax, value-added tax on commercial real estate buildings, and yield ▲automatic calculation of loan amounts that do not incur gift tax when lending sale or lease funds to family members ▲calculation of health insurance premiums for regional subscribers.

Additionally, it offers services that combine real estate big data and information technology (IT), such as an automatically generated 'Property Report' upon address input and the ability to check official prices, actual transaction prices, and estimated market prices all at once.

Previously, the association signed a business agreement with Station3, which operates the real estate platform 'Dabang,' to strengthen mutual cooperation. The two parties are conducting joint development projects for mutual growth between proptech companies and realtors, including ▲strengthening mutual cooperation systems such as technical consulting related to Hanbang services ▲activation of collaboration and support for promotional marketing ▲exchange of information related to the real estate market and proptech.

In particular, a credit safety service (credit certification transmission) system that allows checking the landlord's national and local tax arrears and long-term delinquency with financial institutions when signing a housing lease contract through a realtor was officially launched on the 6th, attracting attention.

The association, together with NICE Information Service, has started developing the system to prevent fraudulent lease transactions such as jeonse scams and to secure a social safety net for all citizens. With the launch of this service, tenants can now check the landlord's tax arrears and other information at the brokerage office with the landlord's consent without having to visit the tax office individually.

The association explained that this not only partially resolves the information asymmetry issue between landlords and tenants, which is considered a major cause of jeonse scams, but also ensures that realtors involved in the contract are protected from unforeseen risks.

Chairman Lee Jong-hyuk said, "We have signed business agreements with various domestic proptech companies such as Real Estate R114, Lonie FN (loan platform), and Leaders Auction (auction lock)," adding, "We will continue to explore ways to beneficially integrate the services they provide into brokerage work and promote mutual growth."

He continued, "We have reorganized the existing Information Network Division into the Proptech Division to strengthen our capabilities," and said, "We will play a significant role in developing various projects for the mutual growth of the brokerage industry and proptech companies, as well as ensuring safe real estate transactions and protecting citizens' property rights."