When considering a real estate sale or investment, you may come across the term "REINS." It is an industry system used daily by real estate companies, but individuals can also make use of part of it. In this article, we explain how REINS works, the role it plays in the real estate industry, and how individuals can use it through レインズ・マーケット・インフォメーション.
What Is REINS? Its Role in the Real Estate Industry
REINS stands for Real Estate Information Network System and refers to the standard information system for real estate distribution.It was established by Japan's Ministry of Land, Infrastructure, Transport and Tourism to streamline brokerage contracts in real estate transactions, and it is operated across the country's four designated regions: East Japan, Chubu, Kinki, and West Japan.
It is available to registered member real estate companies, and it consolidates detailed industry-only information such as properties for sale, closing prices, and transaction terms.After a brokerage agreement is signed for a property, registration with REINS is required under Japan's Real Estate Brokerage Act in certain cases, including exclusive brokerage and exclusive right-to-sell agreements.
Can Individuals View REINS?
As a general rule, only registered member real estate companies can access REINS.Because it contains personal information, general consumers cannot view it directly. However, to help ensure sellers are not placed at a disadvantage, they can confirm the registration status of their own property and review certain information related to it.
What Is レインズ・マーケット・インフォメーション? Individuals Can Use It Too
レインズ・マーケット・インフォメーション is a service that makes transaction price data held by the designated real estate distribution organizations available to the general public.It was developed so that consumers can understand market prices more accurately and proceed with transactions more confidently.
Available Search Conditions
You can narrow your search using conditions such as railway line, nearest station, distance from the station, unit price, floor plan, and building age.Transaction data from the past year in the selected area can be reviewed in graph form, which helps you understand actual closing price trends. Detailed location information, such as block numbers, is not disclosed, but area price levels can still be assessed.
What Are the Benefits of Using レインズ・マーケット・インフォメーション?
You Can See Actual Closing Prices
Prices listed on real estate portal sites are asking prices, which differ from actual closing prices.With レインズ・マーケット・インフォメーション, you can review data based on completed transactions, making it a practical benchmark for judging an appropriate sale price. Prices are rounded to the nearest 100,000 yen, and building age is shown within a range of plus or minus two years.
You Can Track Market Trends in Real Time
Because closing data from the past year is updated continuously, changes in market trends can be tracked in a timely manner.It is also useful when considering the right timing for a sale.
You Can Access Highly Reliable Information
The published information is based on the same data used in REINS by real estate companies, which makes it highly reliable.As transaction records continue to accumulate, the depth of the data also improves year by year.
Using REINS for research can also help address the problem of property listing enclosure. It is worth using proactively to improve the quality of your investment decisions.
Frequently Asked Questions (FAQ)
Q. What is REINS?
It is an industry information distribution system used in real estate transactions. Its official name is the Real Estate Information Network System, and it is established and managed by Japan's Ministry of Land, Infrastructure, Transport and Tourism.
Q. Can individuals view REINS?
In principle, no. However, individuals can review part of the transaction price data through レインズ・マーケット・インフォメーション.
Q. What can you learn from レインズ・マーケット・インフォメーション?
You can understand closing price ranges based on conditions such as area, floor plan, and building age. Data from the past year is displayed in graph form.
Q. How can REINS information be used when selling real estate?
By comparing the sale price proposed by a real estate company with market closing prices, you can judge whether the price is reasonable. It is also useful when considering the timing of a sale.
Q. What is the relationship between a brokerage agreement and REINS?
When you enter into an exclusive brokerage agreement or an exclusive right-to-sell agreement, registration with REINS is required under Japan's real estate brokerage law. General brokerage agreements are optional.
