Seoul City Joins Hands with the Korea Association of Realtors to Eradicate 'Illegal Brokerage Activities'

Seoul City recently announced on the 25th that it will implement the "Measures to Prevent Jeonse Fraud Damage" starting this month to proactively prevent various types of Jeonse fraud and strengthen the guidance and supervision of licensed real estate agents.

This measure focuses on "prevention." Specifically, it includes ① a business agreement between Seoul City and the Korea Association of Realtors, ② the establishment of a "Rapid Response Team for Illegal Real Estate Activities Guidance and Inspection," and ③ a visiting counseling center and a real estate contract experience service.

First, Seoul City signed the "Business Agreement for Establishing Order in Real Estate Transactions and a Win-Win Cooperation System" with the Korea Association of Realtors. Going forward, the city and the association plan to make multifaceted efforts to eradicate illegal brokerage activities based on a close cooperative system.

The main contents of the agreement include ▲ strengthening the transparent role of licensed real estate agents ▲ reporting of brokerage actors to prevent illegal activities ▲ promoting institutional improvements to establish order in real estate transactions. Along with this, a brokerage fee reduction project to support housing for low-income groups will also be promoted.

Additionally, the city plans to form and operate the "Rapid Response Team for Illegal Real Estate Activities Guidance and Inspection." When the team receives reports of acts disturbing the order of real estate transactions or illegal and fraudulent brokerage activities, it will conduct on-site inspections on the same day to crack down on violations by licensed real estate agents. At the same time, it will analyze new types of fraud occurring on-site and establish countermeasures.

Moreover, since victims of Jeonse fraud are concentrated among young adults starting their social lives, a "visiting counseling center" will be operated with experts, and Seoul City is building a "Real Estate Contract Experience" service in a virtual space.

At the agreement ceremony, Seoul Mayor Oh Se-hoon said, "Seoul City plans to conduct thorough investigations and strictly crack down on illegal real estate activities," adding, "We will make multifaceted efforts with the association to establish transparent real estate transaction order and eradicate Jeonse fraud."

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