Disclosure of Registration Information on Real Estate Exterior Glass Walls... Preventing Confusion Between Representatives and Brokerage Assistants
Eradicating Unqualified and Unregistered Brokerage Activities, Expecting Increased Accountability Through Information Disclosure
Dongdaemun-gu, Seoul (Mayor Ilpyeong Lee) announced that it will implement the 'Licensed Real Estate Agent Information Display System (FACE ON)' starting September 2 to enhance transparency and reliability in the real estate brokerage market.
The Licensed Real Estate Agent Information Display System is a system that publicly displays the registration information of brokerage offices on the glass exterior of real estate offices. Its purpose is to prevent confusion between representatives and assistant brokers and to block brokerage activities by unqualified or unregistered individuals.
So far, 389 out of 932 licensed brokerage offices in Dongdaemun-gu have agreed to participate.
For licensed real estate agents who have not yet participated, the district plans to continue promotion through inspections and training sessions.
A district official stated, “By clearly displaying registration information inside and outside brokerage offices, residents will be able to use real estate transactions with greater confidence,” adding, “We expect this to have a significant effect in eradicating illegal brokerage activities by unqualified or unregistered individuals and strengthening the accountability of brokers.”
Ilpyeong Lee, Mayor of Dongdaemun-gu, said, “We hope that licensed real estate agents who have not yet participated in the information display system will actively join to enhance transparency in the real estate brokerage market.”
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