Chapter 4. Work and Duty
Article 18
The permit of a brokerage agency, the documents related to the brokering or sales agency, and the brokers’ certificates should be displayed in an obvious place in the business office. A franchised agency should make its franchise noted.
Article 19
A brokerage agency or a broker shall not receive any price difference or other repayment. The brokerage agency should receive the standard repayment out of the actual sale price or rent specified by the central competent authority.
Violating the regulation in preceding paragraph, the brokerage agency or the broker should pay back the payer double the price difference or other repayment that has already been received plus interests.
Article 20
A brokerage agency should display the criteria of repayment and the way of receiving it in an obvious place in the business office.
Article 21
After a brokerage agency signs a contract with the client, the brokerage agency may advertise and begin dealing with sale.
The advertising and sales content in preceding paragraph should coincide with reality and the title of the brokerage agency should be noted.
Should the advertising and sale content not coincide with reality, the brokerage agency shall pay for the loss.
Article 22
The sale and purchase, trade, lease or representative in the sale of real estate are dealt with brokering or sales agency by a brokerage agency. The broker designated by the broking agency should sign the following documents:
1.An entrusted contract of renting or selling property.
2.An offering document of rental and purchase.
3.A receipt of earnest.
4.A draft of the advertisement of property.
5.An instruction of property.
6.A contract of the sale and purchase, or the lease of property.
The preceding article 22(1)( i.),(ii) shall not apply to those engaged in sales agency services.
The central competent authority shall decide on what should be described in the instruction as to the preceding article 22(1)(v) and what should not.
Article 23
While at work, the broker should explain the instruction of property to the counterpart with whom the trustor deals.
Before the explanation of the instruction in the preceding paragraph, the trustor should sign it.
Article 24
When the clients of both parties sign the contract of rental or sale and purchase, the broker should submit the instruction to the counterpart with whom the trustor deals and the counterpart shall sign on it.
The instruction in the preceding paragraph is regarded as part of the contract of rental or sale and purchase.
Article 24-1
For rental of Appointed Cases, a brokerage agency should declare the current transaction information to the competent authority of municipal or county (city) after signing the rental contract within 30 days.
A sale agency commissioned by the proprietors or the building industry to sell pre-sale houses, should report the consigned contract to the competent authority of municipal or county (city) after signing, change, or termination of the consigned contract within 30 days and declare the current transaction information to the competent authority of municipal or county (city) after signing the sale contract within 30 days.
Government may utilize the registered transaction information of the preceding two paragraphs and provide public for inquiry without revealing personal data.
The registered real estate transaction price information shall become a basis for taxation only until complementary laws are enacted.
Rules of the registered types and contents in the preceding first and second paragraphs and the provision of information contents, ways, fees and other matters to follow in the preceding third paragraph shall be made by the central competent authority.
The competent authority of the municipality or county (city) may request parties to the transactions, or brokerage agency to access, obtain relevant documents or provide explanations in order to check the registered information. The central competent authority may inquire about and obtain documents related to price information from relevant agencies or financial institutions in order to check suspected information of declared price. The inspected person shall not evade, hinder or refuse the inspection.
The inspection in the preceding paragraph shall not exceed the necessary scope for the purpose of ensuring the correctness of the declared real estate transaction information.
Accepting the declaring real transaction information in the preceding first and second paragraphs and the inspection in the preceding sixth paragraph, the competent authority of the municipality or county (city) may authorize its subordinate authority to handle the matter.
The district basis real estate transaction information provided prior to the enforcement of articles of this Act that were amended on December 30, 2020 shall be re-provided for inquiry in accordance with the preceding third paragraph.
Article 24-2
A brokerage agency engaged in brokering services by trading or rental of parties in a written agreement, may accept both commissions and practice in accordance with the following prescriptions:
1. Provide fair prices to the parties similar to the real estate transaction prices.
2. Provide fair contract description to the parties.
3. Provide the buyer or lessee of real estate necessary information.
4. Inform the buyer or lessee in accordance with agency profession to check on real estate defects.
5. Assist the buyer or lessee of real estate to carry out the necessary checks.
6. The prescription by the central competent authority for the protection of the parties of the trading or the rental.
Article 25
A broker shall keep classified the secrets of others he or she knows on account of performing business.
Article 26
A brokerage agency shall be liable to pay compensation for the trustor’s loss resulting from the brokerage agency failing to realize the contract.
The brokerage agency and the broker shall bear a joint liability for the compensation for the client’s loss resulting from the broker’s performance of business or the salesperson’s intentional act or misconduct.
The victims’ recourse in the preceding 2 paragraphs to the National Association of Brokering or Sales Agency of R.O.C. for representative compensation is to be regarded as their application to the committee of guaranty bond management for reconciliation. The committee shall begin reconciliation.
While the victim obtains the nominal execution over the brokerage agency or the broker, after arbitral settlement or the resolution of payment made by the committee of guaranty bond management, he or she may have recourse to the National Association of Brokering or Sales Agency of R.O.C. for representative compensation within the total amount of the bond of operation and within the total amount guaranteed by the bond of operation deposited by the brokerage agency. Following representative compensation, the brokerage agency shall be informed of making up the bond of operation within the specified time according to Article 8(4).
Article 27
When the competent authority examines the business of a brokerage agency, the brokerage agency shall not refuse.