Eunpyeong-gu Introduces Real-Name System for Real Estate Agencies

To Eradicate Illegal Brokerage Activities Such as Jeonse Fraud

Eunpyeong-gu, Seoul (Mayor Kim Mi-kyung) announced that starting from the 11th, it will implement the ‘Real-Name System for Real Estate Brokerage Offices’ which allows verification of licensed real estate agents and brokerage assistants working at real estate brokerage offices.

The ‘Real-Name System for Real Estate Brokerage Offices’ is a project that simultaneously displays the licensed real estate agent’s registration certificate and the staff status, enabling residents who visit real estate brokerage offices for brokerage requests to easily verify the licensed agents and brokerage assistants at a glance.

Eunpyeong-gu aims to prevent illegal brokerage activities by unregistered brokers without qualifications and illegal consulting operators in advance through this project, thereby eradicating illegal brokerage activities such as lease fraud.

Licensed real estate agents receive a registration certificate from the district office when opening a real estate brokerage office and are required by the Licensed Real Estate Agents Act to post it mandatorily within the office. However, since most certificates are hung on walls, they are not easily identifiable, and there is no obligation to post information about brokerage assistants. To resolve this situation, the ‘Real-Name System for Real Estate Brokerage Offices’ is being implemented.

Eunpyeong-gu provided A3-sized acrylic signboards that can include the licensed real estate agent’s registration certificate along with staff status containing photos and names. Additionally, a QR code linking directly to the ‘Eunpyeong-gu Real Estate Information Plaza,’ where staff status can be checked via mobile, was provided. Guidance is also given regarding the obligation to notify brokerage assistants according to the recently revised Licensed Real Estate Agents Act.

An official from Eunpyeong-gu Office stated, “Through the Real-Name System for Real Estate Brokerage Offices, we will prevent lease fraud in advance and minimize damage to residents.”