The amendment to the Certified Real Estate Agents Act passed the National Assembly plenary session on January 29.

With this revision, the Korea Real Estate Brokers Association will regain statutory status for the first time in 27 years, since its conversion to a voluntary organization in 1999. The bill is scheduled to take effect six months after its promulgation, and is expected to take effect in the second half of this year.

The association has secured a foundation for presenting official opinions during the government and National Assembly policy process.

Meanwhile, as the brokerage market is rapidly changing toward incorporation, franchises, and team-based operations, there are voices calling for discussion on the rights and status of licensed brokers who play a crucial role in the transaction field.

More details can be found in the Remax Journal. https://remaxkorea.co.kr/journals/