By Baek Byung-yeul
An increasing number of Koreans are using smartphone apps, such as Zigbang or Dabang, when they purchase, sell or rent apartments and other residential properties.
But things are different when it comes to dealing with offices and other commercial real estate properties because there aren't many online tools available for sellers and buyers. So they tend to depend more on realtors for market information, forcing them to pay higher commission fees.
In addition, many commercial property owners do not know exactly how much their properties are worth, according to CRE Korea CEO Raymond Chetti, who said the owners have to pay significant amounts of money to measure their value.