Real-Time Property Listing Management Service Launched... Aimed at Blocking False Listings

Conceptual Diagram of Integrated Property Lifecycle Management System

[Asia Economy Reporter Choi Dong-hyun] Amid strengthened regulations against false listings following the enforcement of the revised Licensed Real Estate Agent Act last August, a service that integrates the lifecycle management of property listings is gaining attention in the industry.

According to industry sources on the 26th, 'Naver Real Estate,' a real estate platform operated by Naver, in collaboration with affiliated information companies, is providing a property information service called 'Rental Management Listings' that enables integrated management of the entire lifecycle of real estate listings?from their creation to expiration?beyond just false listings. The most notable features of this service are that the availability for transaction is managed in real-time and that the address information of the listings, including building and unit numbers, is fully disclosed to consumers.

Real estate information companies partnered with Naver Real Estate integrate rental management companies' work management solutions into a network, receiving real-time vacancy listings generated during rental management operations, which are then provided to brokerage offices and promoted on Naver Real Estate.

As soon as a unit’s status changes to 'vacated,' vacancy listing information is created and provided to brokerage offices and Naver Real Estate through the network. When a lease contract is signed and the unit status changes to 'scheduled for move-in,' the vacancy listing information is automatically deleted. Additionally, if the unit status information in the rental management solution changes?such as deposit, monthly rent, or unit photos?the vacancy listing information is immediately updated and reflected in the listing service.

According to The Biz Co., Ltd., an information provider for Naver Real Estate, under the revised regulations on the display and advertisement of brokerage objects enforced on August 21, competition among brokers to secure listings has intensified amid reluctance to advertise listings. In this context, brokers using Naver’s rental management listing information can reliably receive listings from rental management companies, the company explained.

Even though the address information of listings is disclosed down to the building and unit number, there is little concern about listings being taken away, and once a contract is signed, the listing advertisement is automatically terminated, reducing the risk of false listing reports due to abandoned listings.

Electronic contract signing is also possible. When an electronic contract is completed, the fixed date report and actual transaction report are automatically filed. Additionally, benefits such as discounts on registration fees and preferential loan interest rates are available. With the COVID-19 pandemic making non-face-to-face transactions commonplace, the usage rate of electronic contracts has recently surged.

By linking rental management solutions with Naver’s simple payment system (N-PAY), payment of rent and management fees is also possible. Through the MyData service, it will be possible to check payment histories and automatically notify tenants of payment results. Loan services based on rental management records and performance are also expected for rental management businesses, landlords, and tenants.

This content was produced with the assistance of AI translation services.