Promotional image for Dabang Sign (Dabang)
South Korean mobile realtor app operator Dabang said Thursday it has unveiled a contact-free signing service for real estate contracts, accelerating innovation in the country’s property technology industry.
According to the property technology company, the mobile signing service, Dabang Sign, offers users the ability to sign real estate contracts via Dabang’s app.
If landlords request to register their houses or apartments with Dabang Sign, the company’s inspection team checks the properties’ public records, takes pictures and records virtual reality videos of the interior, according to a Dabang official.
The VR videos include essential information for homebuyers such as the water pressure and drainage in bathrooms and kitchens.
“There have been complaints from homebuyers that realtors upload exaggerated images of the room size far from the real measurements or fail to report plumbing problems. But we upload homes that have already passed inspection,” the official said.
People living in other areas who are looking to rent homes in Seoul or those who are too busy to make time to visit the property could particularly benefit from the convenient contactless signing service, the official added.
To maximize user convenience, Dabang Sign doesn’t require additional accredited certificates. Instead, users can confirm their identities through the app. Dabang is the first to launch such a service in the local industry, according to the official.
Since the process could incur cybersecurity risks, Dabang aims to prevent contract forgery by adopting a double encryption system and assigning additional codes to verify the legitimacy of the contract.
“Currently, there are about 10 sales and rent offers that are qualified for Dabang Sign, mostly being one-room units in Gangnam-gu and Seocho-gu. We plan to boost the inspection process and register more houses for the contactless signing service,” the official said.