The main issue of revised Business Affairs of Licensed Real Estate Agents and Report of Real Estate Transactions Act are as follows; A printed real-name of Real Estate Broker on the signboard will be prohibited from illegal transaction and acquired cr...
The main issue of revised Business Affairs of Licensed Real Estate Agents and Report of Real Estate Transactions Act are as follows; A printed real-name of Real Estate Broker on the signboard will be prohibited from illegal transaction and acquired credibility from clients. A report duty of transaction price will include sale right and habitable right as well as acquisitive right of real estate. In case of doubting whether the reported transaction price is true or false, relative government officer will be authorized to investigate the report. The reporting period of transaction price will be extended from 30days of closing date to 60days that reduce the obligation of reporter. A prescriptive system of administrative measure will be executed for the benefit of administrative credibility and legal stability. There are various views and opinions during the legislative procedure for the revision. Particularly, the important question of the real-name signboard system remains how far, or how rigidly, thar this rule is to be applied.