"Report Illegal Real Estate Brokerage for Up to 200 Million Won Reward"… Seoul City Intensive Inspection

On-site Inspections Ongoing in Dunchon Jugong Area Since August
Priority Given to Districts with Many Complaints of Illegal Brokerage
Immediate Administrative Action Upon Detection of Violations

Seoul City announced on the 18th that it will conduct intensive inspections targeting real estate agencies employing multiple brokerage assistants to prevent illegal real estate brokerage activities.

Brokerage assistants employed at real estate agencies are only allowed to assist with simple tasks such as on-site guidance or clerical work. However, the city pointed out that illegal activities where brokerage assistants directly mediate contracts are still ongoing.

The Rapid Response Team for Illegal Real Estate Activities, the Civil Affairs Police Bureau, and district offices will jointly begin inspections starting with districts that have a high number of complaints about illegal brokerage activities. They will focus on cases where unqualified brokerage assistants directly mediate real estate transactions or lead consultations, and where the representative licensed real estate agent only stamps the contract after the brokerage assistant completes the mediation.

If illegal activities are detected on-site, administrative actions will be taken immediately. If criminal charges apply, the Civil Affairs Police Bureau will conduct an investigation.

Since August, the city has been conducting on-site inspections of brokerage offices around Olympic Park Foreon in Gangdong-gu (Dunchon Jugong Reconstruction area). In the first half of the year, 39 offices were inspected jointly with district offices, and 33 offices were subject to business suspension and fines due to improper confirmation and explanation of brokerage objects, violations of advertising regulations, missing signatures, and failure to report employees.

Citizens can also report. Anyone who discovers illegal real estate activities or suffers damages can report through smartphone apps or the Seoul City website. Informants may receive rewards of up to 200 million KRW after review, according to the "Seoul City Ordinance on the Protection and Support of Public Interest Whistleblowers."

Jo Nam-jun, Director of the Urban Space Headquarters, said, "In actual brokerage sites, it is difficult for ordinary citizens to immediately recognize when assistants engage in illegal brokerage activities. Through this inspection, we aim to emphasize the industry's self-regulation efforts once again and closely monitor and block illegal activities by brokerage assistants."