Nonsan City Cracks Down: Exposing the Modern-Day Shinmungo in Real Estate

▲ Nonsan City Hall

[시사일보=최한규 기자] Nonsan City began guiding and cracking down on illegal real estate brokerage activities on the 5th to stabilize the real estate market and establish a transparent and fair trading order.

The city formed a joint crackdown team with the Korea Association of Real Estate Agents and conducted crackdowns on illegal activities targeting 115 real estate brokerages within the jurisdiction.

Major crackdowns include rental of real estate agent licenses and registration certificates, excessive collection of brokerage fees, false listing of actual real estate transaction prices and omission of reporting, and reporting of employment of licensed real estate agents and real estate agent assistants.

In particular, brokerage by unqualified and unregistered persons requires special attention as they cannot receive accurate analysis of rights, such as confirmation of land ownership, provisional registration of registration, and establishment of mortgage, and cannot receive relief from liability insurance in the event of a transaction accident.

Accordingly, Nonsan City plans to immediately correct minor violations on site as a result of the inspection, and take strong administrative measures such as cancellation of registration and business suspension for major violations.

A city official said, “We will encourage sound real estate transactions by cracking down on illegal real estate-related brokerage activities, establish a transparent transaction order, and make every effort to establish a consumer-centered real estate administrative service system.”