Note: Concerning Matters Regarding the Real Estate Information Network Systems

Important notice:This English translation is prepared solely for your reference purposes.

Real Estate Information Systems are public benefit corporations appointed by the Minister of Land, Infrastructure, Transport and Tourism pursuant to Article 50 Paragraph 2 Item 4 of Building Lots and Buildings Transaction Business Act, and perform the following operations set out in the act.

  1. Operations relating to the registration of building lots or buildings subject to exclusive listing agreements and others pertaining to the business of building lots and buildings transaction
  2. Provision of information concerning such building lots or buildings as are registered in accordance with the preceding item to building lots and buildings traders on a regular basis or by request
  3. In addition to operations as listed in the preceding two items, preparation of statistics relating to information as provided for in the preceding item and other operations required to facilitate fair and smooth transactions of building lots and buildings

The Mitsui Fudosan Realty Group takes the following measures pursuant to the provisions of Building Lots and Buildings Transaction Business Act regarding Real Estate Information Network Systems.

  1. When the Company receives a request to sell a property and enters into a brokerage service agreement, it will register the property information in Real Estate Information Network System in order to search for buyers. The property information so registered, name, address, and other information of the seller are provided to members of Real Estate Information Network System and prospective buyers.
  2. If a sale is concluded for the registered property, the date, purchase and sale price, and other information are notified to Real Estate Information Network System.
  3. Real Estate Information Network System utilizes the property and contract information (such as property summary, agreement date, purchase and sale price, and other information, excluding the names of the seller and buyer) to fulfil its duties stipulated by Building Lots and Buildings Transaction Business Act. Provision of such property and contract information to members of Real Estate Information Network System and public bodies in such form as electronic data is included.
  4. In case of an exclusive brokerage service agreement and a privileged and exclusive brokerage service agreement, the Company will conduct registration and notification of information to Real Estate Information Network System in accordance with the provisions of Building Lots and Buildings Transaction Business Act.
  5. Prospective and actual buyers of properties are deemed to be fully aware of the measures related to Real Estate Information Network System (1) to (4) above before purchasing a property.
  6. When the Company utilizes property information, etc., on Real Estate Information Network System to search for a buyer, it provides the name, address, and other information of a prospective buyer to the listing agent and seller while providing property information to such prospective buyer. Upon request from the person concerned, however, the provision of buyer’s information can be abstained pursuant to Article 3.
  7. The Company may show sales information (not including names of sellers and buyers) registered in Real Estate Information Network System and/or sales information acquired through transactions in which the Company has been involved to clients as grounds for the Company’s opinion regarding recommended purchase and sale price or valuation when it receives a request to buy or sell a property. In these cases, the Company takes steps to prevent identification of the transacted property. Upon request from the person concerned, however, the provision of sales information can be as abstained pursuant to Article 3.