Dabang launches contactless real estate contract service

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South Korea’s mobile real estate app operator Dabang said on Thursday it unveiled a contactless signature service for real estate contracts, accelerating innovation in the country’s real estate technology sector.

According to the real estate technology company, the mobile signature service, Dabang Sign, offers users the ability to sign real estate contracts through Dabang’s app.

If homeowners apply to register their homes or apartments with Dabang Sign, the company’s inspection team checks public property records, takes photos and records interior virtual reality videos, according to a Dabang official. .

VR videos contain essential information for home buyers such as water pressure and drainage in bathrooms and kitchens.

“Buyers have complained that realtors upload exaggerated room size images away from actual measurements or fail to report plumbing issues. But we are uploading houses that have already passed inspection, ”the official said.

People living in other areas looking to rent homes in Seoul or those too busy to take the time to tour the property could particularly benefit from the convenient contactless signature service, the official added.

To maximize user convenience, Dabang Sign does not require additional accredited certificates. Instead, users can confirm their identity through the app. Dabang is the first to launch such a service in the local industry, according to the official.

Since the process could lead to cybersecurity risks, Dabang aims to prevent contract tampering by adopting a double encryption system and assigning additional codes to verify the legitimacy of the contract.

“Currently there are about 10 sales and rental offers that qualify for Dabang Sign, most of which are one-room units in Gangnam-gu and Seocho-gu. We plan to speed up the inspection process and register more homes for the contactless signature service, ”the official said.

By Byun Hye-jin ([email protected])

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