Carrot Real Estate has completely revamped its 'Easy-to-Read' property registration service to help users better understand complex registration documents. The new service focuses on reducing transaction risks, such as lease fraud, by allowing users to check the size of home equity loans, landlord history, and potential ownership disputes all at once.
On July 20, Carrot announced the launch of the updated 'Easy-to-Read' service, which replaces its previous 'Simple Analysis of Property Registration' service. This new version incorporates user feedback received since its initial launch in November 2022, significantly improving its functionality.
The service is designed to present complicated property registration information in an intuitive manner, enabling users to assess the safety of listings independently.
Users can access the analysis results by clicking the 'Get Easy-to-Read Property Registration' button at the bottom of the detailed listing page without needing to input a separate address. The fee for the service is 990 won per transaction, and users can also check properties not registered with Carrot by entering the address in the 'Property Registration Analysis' menu.
The service analyzes the safety of listings based on three key factors: whether the size of home equity loans affects deposit protection, if the landlord has a history of failing to return deposits or has been subject to seizure, and the likelihood of legal disputes related to ownership. Additionally, it provides information on the possibility of obtaining guarantee insurance and virtual pre-screening results for available lease loan products.
Notably, the service translates complex terminology into easily understandable language. For example, it might state, 'The home equity loan is substantial, but the full deposit is legally protected,' or 'There is a record of a previous tenant not receiving their deposit back, so we do not recommend this contract,' presenting analysis results in a user-friendly format.
The service also offers a 'Deposit Protection Action Plan' tailored to the characteristics of the property. This includes a checklist of important considerations for the timing of residency registration, address changes, and how to apply for dividend requests. Users can download the analysis results as a PDF report that reconfigures the original property registration document for easier viewing.
A representative from Carrot Real Estate stated, 'We have revamped the service to ensure that users can thoroughly verify safety without information asymmetry from the property search stage. We will continue to enhance our services to reduce user anxiety during the real estate transaction process and help them prepare for contracts with confidence.'
Meanwhile, Carrot Real Estate reported that a survey conducted last month among 971 users who completed real transactions revealed that home seekers typically spend an average of 2.4 months finding a new home and visit an average of 3.8 properties before signing a contract. The primary reason for moving was to shorten commuting distances for work.
* This article has been translated by AI.
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