Information Brokerage
A Guide to Real Estate Brokerage Commissions
Housing
(incl. ownership and lands appurtenant) (pursuant to Article 20(1) of the Enforcement Decree of the Licensed Real Estate Agents Act and Attached Table 1 of the same enforcement decree)
(Enforced on Oct. 19,2021)
| Transaction type | Transaction price | Max. rate | Amount limit | Determination of brokerage fees | Calculation of transaction price |
|---|---|---|---|---|---|
| Purchase & Sale / Exchange | Under ₩50M | 6/1000 | ₩250,000 |
Brokerage fee= Transaction price * Max. rate (Cannot exceed the amount limit) |
Purchase & sale: Price of purchase & sale Exchange: Price of highest value exchange among exchange objects Ownership value = Total paid amount (including loan) + premium |
| ₩50M–200M | 5/1000 | ₩800,000 | |||
| ₩200M–900M | 4/1000 | N/A | |||
| ₩900M–1.2B | 5/1000 | N/A | |||
| ₩1.2B–1.5B | 6/1000 | N/A | |||
| ₩1.5B+ | 7/1000 | N/A | |||
| Lease, etc. (Not Purchase & Sale / Exchange) | Under ₩50M | 5/1000 | ₩200,000 |
Brokerage fee= Transaction price * Max. rate (Cannot exceed the amount limit) |
Lease on a deposit basis: security money for lease on a deposit basis Monthly rent= Deposit + (Monthly rent * 100) However, in case of under ₩50 million transaction cost, the applied formula is deposit + (monthly rent * 70) |
| ₩50M–100M | 4/1000 | ₩300,000 | |||
| ₩100M–600M | 3/1000 | N/A | |||
| ₩600M–1.2B | 4/1000 | N/A | |||
| ₩1.2B–1.5B | 5/1000 | N/A | |||
| ₩1.5B+ | 6/1000 | N/A |
| Purchase & Sale / Exchange | ||||
|---|---|---|---|---|
| Transaction price | Max. rate | Amount limit | Determination of brokerage fees | Calculation of transaction price |
| Under ₩50M | 6/1000 | ₩250,000 |
Brokerage fee= Transaction price * Max. rate (Cannot exceed the amount limit) |
Purchase & sale: Price of purchase & sale Exchange: Price of highest value exchange among exchange objects Ownership value = Total paid amount (including loan) + premium |
| ₩50M–200M | 5/1000 | ₩800,000 | ||
| ₩200M–900M | 4/1000 | N/A | ||
| ₩900M–1.2B | 5/1000 | N/A | ||
| ₩1.2B–1.5B | 6/1000 | N/A | ||
| ₩1.5B | 7/1000 | N/A | ||
| Lease, etc. (Not Purchase & Sale / Exchange) | ||||
| Transaction price | Max. rate | Amount limit | Determination of brokerage fees | Calculation of transaction price |
| Under ₩50M | 5/1000 | ₩200,000 |
Brokerage fee= Transaction price * Max. rate (Cannot exceed the amount limit) |
Lease on a deposit basis: security money for lease on a deposit basis Monthly rent= Deposit + (Monthly rent * 100) However, in case of under ₩50 million transaction cost, the applied formula is deposit + (monthly rent * 70) |
| ₩50M–100M | 4/1000 | ₩300,000 | ||
| ₩100M–600M | 3/1000 | N/A | ||
| ₩600M–1.2B | 4/1000 | N/A | ||
| ₩1.2B–1.5B | 5/1000 | N/A | ||
| ₩1.5B+ | 6/1000 | N/A | ||
※ Brokerage fees will be determined by the client and agent through consultation to the extent of it not exceeding the max.
rate of transaction price, as indicated in the “Max. rate” column pursuant to Article 20(1) of the Enforcement Decree of the Licensed
Real Estate Agents Act
Officetel
(dual-purpose buildings used for commercial and residential purpose) (pursuant to Article 20(4) of the Enforcement Decree of the Licensed Real Estate Agents Act and Attached Table 1 of the same enforcement decree)
(Enforced on Jan. 6, 2015)
| Subject of application | Transaction type | Max. rate | Determination of brokerage fees and calculation of transaction price |
|---|---|---|---|
| Area of 85 m2 or less with a modern kitchen, sink, toilet, and bathroom, etc. | Purchase & Sale / Exchange | 5/1,000 | Same as in “Housing” |
| Lease, Rental, etc. | 4/1,000 | ||
| Other than above subject of application | Purchase & Sale / Exchange, Lease, etc. | (n)/1000 of transaction value | To be determined by the client and agent through consultation to the extent of it not exceeding the agent-prescribed maximum rate of 9/1000 as indicated in the left “Max. rate” column. |
| Subject of application | Transaction type | Max. rate | Determination of brokerage fees and calculation of transaction price |
|---|---|---|---|
| Area of 85 m2 or less with a modern kitchen, sink, toilet, and bathroom, etc. | Purchase & Sale / Exchange | 5/1,000 | Same as in “Housing” |
| Lease, Rental, etc | 4/1,000 | ||
| Other than above subject of application | Purchase & Sale / Exchange, Lease, etc. | (n)/1000 of transaction value | To be determined by the client and agent through consultation to the extent of it not exceeding the agent-prescribed maximum rate of 9/1000 as indicated in the left “Max. rate” column. |
Non-housing/officetel (Land, store, etc.)
(pursuant to Article 20(4) of the Enforcement Decree of the Licensed Real Estate Agents Act and Attached Table 1 of the same enforcement decree)
(Enforced on Jan. 6, 2015)
| Transaction type | Max. rate | Determination of brokerage fees | Calculation of transaction price |
|---|---|---|---|
| Purchase & Sale / Exchange, Lease, etc. | Within (n)/1000 of transaction value | To be determined by the client and agent through consultation to the extent of it not exceeding the agent-prescribed max. rate of 9/1000 as indicated in the left “Max. rate” column. | Same as in “Housing” |
| Transaction type | Max. rate | Determination of brokerage fees | Calculation of transaction price |
|---|---|---|---|
| Purchase & Sale / Exchange, Lease, etc. | Within (n)/1000 of transaction value | To be determined by the client and agent through consultation to the extent of it not exceeding the agent-prescribed max. rate of 9/1000 as indicated in the left “Max. rate” column. | Same as in “Housing” |
※ Licensed real estate agents shall indicate the max. rate of “Purchase & Sale / Exchange” for officetel (except if with proper facilities
in area of 85 m2 or less), and “Purchase & Sale / Exchange / Lease” for non-housing/officetel (land, store, etc.) in accordance with the max.
rate regulation.
※ Value added tax (VAT) is excluded in the brokerage fees.