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A study on the regulation of the real estate brokerage fee in the Korean Act

  • Public Land Law Review
  • Abbr : KPLLR
  • 2005, 28(), pp.69-97
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

한병영 1

1인천대학교

Accredited

ABSTRACT

This study aims to come up with ideas for fair real estate brokerage fee by reviewing the Korean Real Estate Brokerage Business Act and acknowledging problem in the control of the maximum of brokerage fee through the act. The price regulation is not principally consistent with the market economy. Although, In Korean real estate brokerage business, the price regulation policy is enforced for the name of the stability of the national economy. The fee regulation policy results in cartel and unfair competition. This policy for the low-income brackets runs counter to the aim of the policy. This control of the brokerage fee is not consistent to the principal equality in Korean Constitution. The real estate brokers are treated discriminately with the fee control of the Korean Real Estate Act in compare with the lawyers etc. The violation of the legal limited fee is punished severely. This severe punishment is not consistent with the prohibition of the excessive regulation in the Korean Constitution. In conclusion, I emphasize the abolishment of the real estate brokerage fee limit in Korea. If this abolishment policy comes true in future, I forsee that the fee will come down from the present regulated price through the competition of brokerages in the market.

Citation status

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