Abstract
The Licensed Real Estate Agents Act stipulates provisions incompatible with the initial purpose of introducing general brokerage contract. This article proposed improved ways to build a legal binding force of general brokerage contract and further boost exclusive brokerage contract. With regard to labeling and advertising of brokerage by real estate agents, provisions must be made so that agents are required to comply with a duty to notify the conclusion of real estate transactions to customers as well as a duty to disclose dual brokerage cases. Thus, it is necessary to take control of laying a framework in establishing a legal binding force of brokerage contract arising from indiscriminate brokerage cases. In this regard, introducing an amendment to provisions relating to general brokerage contract in the Licensed Real Estate Agents Act is necessary. It is advisable that the introduction of general brokerage contract containing requirements to sign brokerage contract in writing as well as a duty to disclose contract would serve as a bridge in revitalizing exclusive brokerage contract.
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