REINS is a Real Estate Information System operated by the Real Estate Distribution Organization – designated by the Ministry of Land, Infrastructure, Transport and Tourism.
REINS is only available for real estate agents and not open to the public. By using REINS, agents can easily search properties which are currently available in the market, and it will help connecting seller and buyer based on the registered information.
But some seller’s agents do not register property information intentionally to REINS, although they signed the exclusive brokerage service agreement with the seller. This is violating the real estate law. They do this to avoid receiveng a purchasing request from other agents to sell this property by themselves, and get brokerage fee from both seller and buyer.
