IDEAS home Printed from https://ideas.repec.org/p/ris/kietrp/2022_015.html
   My bibliography  Save this paper

Impacts and Implications of Online Platforms’ Entry into the Real Estate Brokerage Sector

Author

Listed:
  • Choi, Younjeong

    (Korea Institute for Industrial Economics and Trade)

Abstract

The Korean real estate brokerage sector has grown in size thanks to rising real estate prices and transaction volumes. Despite its importance, the industry offers low consumer utility and relatively slow innovation due to lack of incentives for competition in the quality of service and prices compared to other service sectors. As online platforms begin to offer the same services, however, the real estate brokerage market is showing signs of change, with stiffer competition, discounted fees, and improvements to the quality of service. As a result, consumers stand to benefit from better brokerage services at lower prices. Fears have risen, however, of online platforms charging higher fees to market players than other service sectors and engaging in unfair trade practices. Improving the competitiveness of the sector requires players in the market innovate. Moreover, policy measures are urgently needed to enable a win-win partnership between market players and online platforms in the sector.

Suggested Citation

  • Choi, Younjeong, 2022. "Impacts and Implications of Online Platforms’ Entry into the Real Estate Brokerage Sector," Research Papers 22/15, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietrp:2022_015
    as

    Download full text from publisher

    File URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4315620
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Korean Real Estate Brokerage Sector; Brokerage Market; Brokerage Service; Market Innovate;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:kietrp:2022_015. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Aaron Crossen (email available below). General contact details of provider: https://edirc.repec.org/data/kiettkr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.