VN TO BOOST PROFESSIONAL REAL ESTATE BROKERS

Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as professionalism of brokerage teams.

Therefore, real estate brokers need to have enough knowledge and skills to synthesise information about real estate associated with legal items and planning, as well as real estate values for buyers and sellers, said Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment.

Statistics from the Vietnam Association of Realtors (VARS) showed that, out of about 300,000 real estate brokers in Việt Nam, only 30,000-35,000 are eligible to do the work, accounting for 10-12 per cent. In the last three years, the growth of real estate brokerage in the market has averaged about 15 per cent per year.

The number of real estate brokers has increased rapidly, bringing convenience and more professional consulting services, so customers can quickly make good investment decisions, safe and guided legal procedures in a complete and convenient way.

However, there is a fact that brokers are the cause of land fever in all localities, causing market turmoil. Moreover, the problem of spam messages and calls from real estate agents are creating problems for the profession and adversely affecting real brokers.

According to Trần Minh Hoàng, Deputy Secretary General of VARDS, the real estate brokerage profession is closely linked to market transparency, so the requirements for real estate brokers must be set very high, even with severe sanctions against professional and ethics violations. At the same time, real estate agents must also have the capacity to assess the legality of real estate for sale and take responsibility for accuracy and transparency.

Hoàng estimated that "over 90 per cent of private housing sales information is inaccurate, misleading in location, price, legality or planning information".

In order to make real estate brokers more professional and meet the current international integration requirements, it was necessary to soon organise management measures, ensuring brokerage activities comply with current laws; as well as adding regulations on granting identification numbers, he said. Especially, it should be strictly forbidden to work as a brokerage without a certificate, Hoàng added.

Source: VNS