Blocking Unqualified Brokerage Activities... Seoul City Implements 'Mobile Certified Real Estate Agent Certification'

Real-Time Verification of Certified Realtor Qualification via App

Seoul City announced on the 4th that it will introduce the nation’s first “Mobile Certified Real Estate Agent Qualification Verification Service” to prevent unqualified brokerage activities.

The “Mobile Certified Real Estate Agent Qualification Verification Service” is a service that allows immediate verification of whether a person is a certified real estate agent (representative, affiliated, or assistant) by checking the registration status of brokerage offices, certified real estate agent qualifications, and employment registration in real time through linkage with the Ministry of Land, Infrastructure and Transport’s real estate brokerage and certified real estate agent qualification management system (K-Geo platform).

There have been continuous concerns about damages caused by unregistered or unqualified individuals, as well as brokerage assistants holding titles such as manager or director engaging in brokerage activities. It was also difficult to distinguish between certified real estate agents and brokerage assistants when visiting real estate offices. In response to these concerns, the “Certified Real Estate Agent Act” was partially amended in October last year to legally mandate identity disclosure for brokerage workers, and various measures such as a “name tag system” were implemented, but their effectiveness was limited.

The biggest feature of the Mobile Certified Real Estate Agent Qualification Verification Service is that it is tamper-proof. To achieve this, Seoul City used the blockchain-based administrative service application “Seoul Wallet.” Real-time identity verification via mobile immediately reflects any changes (opening, closure, employment, dismissal, etc.), and screen capture of the qualification verification is blocked.

The city plans to complete development by the first half of this year and officially launch the service starting in July.

Jo Nam-jun, Director of the Urban Space Headquarters of Seoul City, said, “Through this service that fundamentally blocks brokerage activities by unqualified individuals, we aim to alleviate the concerns of brokerage clients and secure the reliability of brokerage activities,” adding, “We will continue to strive to create a transparent real estate transaction environment.”

The government announced the "Housing Market Stabilization Plan," which includes strengthening the comprehensive real estate tax on high-priced housing and regulating mortgage loans for apartments priced over 1.5 billion won in speculative areas and speculative overheating districts. On the 17th, a price list was posted at a real estate agency office in Songpa-gu, Seoul. Photo by Kang Jin-hyung aymsdream@