When it comes to facilitating real estate transactions in Japan, there are agents, and there are notaries. 

The roles are not mutually exclusive, with more than one in five real estate staff in Japan carrying the qualification.

REthink Tokyo, in conjunction with PLAZA HOMES, aims to clarify aspects of the position with the following explanation.

Specialist of real estate transaction

A real estate notary is a specialist who has achieved the national qualification under Building Lots and Buildings Transaction Business Act.

Created to ensure that real estate deals are carried out with honesty and fairness, the act requires anyone who engages in building lots and building transactions to have a licence, regardless of whether they are an individual or company.

Under the Building Lots and Buildings Transaction Business Act, more than one out of five of all employees within a real estate company must be notaries in order for the company to acquire a license as a housing land and building dealer.

A notary's duties include explaining the contents of a real estate contract, as well as affixing a name and seal to the document outlining its terms.

According to PLAZA HOMES, it is the social responsibility of a real estate notary in Japan to prevent disputes and to accomplish safe transactions for consumers by engaging in his/her duties faithfully.

Real estate notaries are required to have knowledge of:

• Laws on various rights (Civil Code, Real Property Registration Act, Act on Building Unit Ownership, etc.) 
• Restriction by law (City Planning Act, Building Standards Act, other restrictions by law)
• Building Lots and Buildings Transaction Business Act
• Tax & Price (Income Tax, Stamp Tax Act, Real Estate Acquisition Tax, Fixed Property Tax, Real estate appraisal, etc.)

Click here for more information on real estate notaries.

Source: PLAZA HOMES

Similar to this:

What makes a property resistant to earthquakes?

Do you need to pay income tax in Japan?

Introduction to Japan real estate