69 Cases of Illegal Real Estate Brokerage Violations Detected in Gyeongnam

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] Gyeongnam Province has conducted guidance and inspections of 189 real estate brokerage offices in the province since January to establish a sound real estate transaction order.

In this inspection, carried out jointly with 11 cities, counties, and districts in the province and the Gyeongnam branch of the Korea Association of Realtors, 69 violations were detected.

The types of violations included 28 cases of failure to prepare confirmation and explanation documents for brokerage objects, 17 cases of failure to post brokerage commission rate tables, 7 cases of failure to prepare transaction contracts, 6 cases of violations in internet and other display advertisements, 5 cases of outdoor advertising violations, 4 cases of unqualified brokerage activities, 1 case of failure to report brokerage assistants, and 1 case of restricted resale of pre-sale rights transactions.

As administrative measures, 1 case of business suspension, 2 cases of fines, and 57 cases of warnings and corrections were taken.

For 3 cases where the disposition has not yet been finalized and 6 cases reported to the responsible police station, administrative measures will be taken immediately once the violations are confirmed.

Gyeongnam Province plans to continue monitoring violations such as price collusion through the Real Estate Transaction Order Disturbance Reporting Center and consistently review unfair display and advertisements received by the Real Estate Advertising Market Monitoring Center to stabilize the real estate market.

Additionally, the province continuously guides licensed real estate agents on prohibiting non-existent or false listings and advertisements, compliance with actual transaction reporting, and adherence to housing brokerage commissions.

Heo Dongsik, Director of the Urban Transportation Bureau of Gyeongnam Province, urged, "To create a real estate market environment where residents can trade with confidence, the self-regulation efforts of licensed real estate agents and active participation of residents are essential."

This content was produced with the assistance of AI translation services.