CHAPTER I GENERAL PROVISIONS CHAPTER II APPLICATION CONDITIONS AND PROCEDURES CHAPTER III MANAGEMENT OF BROKERAGE CHAPTER IV PUNISHMENT PROVISIONS CHAPTER V SUPPLEMENTARY PROVISIONS Article 1 These Provisions are formulated in order to develop and standardize the real estate market of this city and strengthen the management Article 2 The broking activities in real estate mentioned in these Provisions refers to the business activities for providing such services The real estate agent mentioned in these Provisions refers to an organization or an individual who is qualified as a real estate agent, Article 3 These Provisions shall apply to all the real estate agents undertaking broking activities in real estate in this city. Real estate agents who have not registered in this city are not allowed to undertake broking activities in real estate in this city. Article 4 The Municipal Real Estate Administration and the Municipal Industry and Commerce Administration are competent authorities for administering The municipal, district or county real estate trading administration departments are in charge of the daily routine in the administration
CHAPTER II APPLICATION CONDITIONS AND PROCEDURES Article 5 Those who have reached the age of 18, have this city’s registered permanent residence, have acquired the education of senior middle Article 6 The applicant to establish a real estate broking organization shall have the following qualifications: 1. Having 5 persons or more who have received the “Qualification Certificate for Shanghai Real Estate Agent”; 2. Having a capital of RMB 100,000 or more; 3. Having the articles of association with a definite business aim; 4. Having a fixed place of business. Article 7 The applicant to become a private real estate agent shall have the following qualifications: 1. Having received the “Qualification Certificate for Shanghai Real Estate Agent”; 2. Having a capital of RMB 20,000 or more, or the property security worth RMB 20,000 or more provided by his guarantor; 3. Having a fixed place for broking activities; 4. Having had no criminal record in the 3 years previous to his application. Article 8 An applicant to become a real estate agent shall apply for registration to the industry and commerce administration department in Within 30 days after receiving the business licence, the real estate agent shall report it for the record to the district or county Article 9 The “Qualification Certificate for Shanghai Real Estate Agent” is to be verified by the issuing organization every two years. Those
CHAPTER III MANAGEMENT OF BROKERAGE Article 10 The real estate broking activities of a real estate broking organization must be conducted by its personnel who have received the The personnel who have the “Qualification Certificate for Shanghai Real Estate Agent” must conduct broking activities in real estate Article 11 A real estate agent shall sign a real estate brokerage contract with the client concerned when providing the latter with such services A real estate brokerage contract shall include the following main points: 1. Object (items for brokerage); 2. Requirements and standards for the brokerage items; 3. Time limit of the fulfillment of the contract; 4. The amount of service fee and mode of payment
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