SEOUL METROPOLITAN GOVERNMENT ORDINANCE ON RESIDENTIAL BROKERAGE COMMISSION, ETC.
Article 1 (Purpose)
The purpose of this Ordinance is to provide for matters delegated pursuant to the Act on Business Affairs of Licensed Real Estate Agents and Report of Real Estate Transactions and matters necessary for the enforcement thereof.
Article 2 (Brokerage Commission)
(1) The limits on commissions for brokerage of the sale, lease, etc. of residential buildings (hereinafter referred to as “brokerage commissions”) under Article 32 (3) of the Act on Business Affairs of Licensed Real Estate Agents and Report of Real Estate Transactions (hereinafter referred to as the “Act”) shall be as set out in attached Table 1.
Article 3 (Actual Expenses)
(1) As regards actual expenses incurred in verifying rights to, and interests in, subject matter of brokerage and actual expenses incurred in guaranteeing the performance of payment or return of the deposit and other payments, the limits on such actual expenses under Article 32 (3) of the Act shall be as set out in attached Table 2, respectively.
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