Real estate brokerage must be standardized

HO CHI MINH CITY: The Vietnamese real estate market needs stricter regulations to standardize real estate brokers so that the national real estate market operates seamlessly.

Nguyen Huong, vice president of the Vietnam Real Estate Brokers Association, said the number of real estate brokers in Vietnam has grown rapidly in recent years, but the quality has not improved.

The problem is the quality. Although the Ministry of Construction has regulations relating to real estate brokerage practice certificates, it has still not paid attention to them, she said.

According to Huong, unprofessional real estate brokers greatly affect investors, customers and professional real estate brokers.

It is therefore necessary to have appropriate solutions and penalties to standardize real estate brokers.

Nguyen Van Dinh, chairman of the Vietnam Real Estate Brokers Association, pointed out that at present, land fever has hit some localities, making the real estate market unhealthy, which has been partly contributed by real estate brokers. non-professionals.

Pham Lam, vice president of the Vietnam Real Estate Brokers Association, said that according to association statistics, Vietnam has about 300,000 people working as real estate brokers.

Each year, more than 100,000 real estate transactions are carried out on the primary and secondary markets.

β€œIt shows that brokers play an extremely important role in promoting transactions,” Lam said.

Therefore, the state management agency must manage this labor to control the real estate market, Lam said. This would avoid the situation of unprofessional real estate brokers destabilizing the market.

Nguyen Manh Khoi, Deputy Director of Housing and Real Estate Market Management Department, also admitted the important role of brokers in the real estate market, so to promote their role, the broker must be properly trained to have certificates of practice in the real estate market. real estate brokerage. .

Khoi also said the national real estate market was still lacking in information, so there was a situation where real estate prices were being pushed higher by brokers.

To strengthen state management in construction activities, the government issued Decree 16/2022/ND-CP providing penalties for administrative offenses in construction, including regulations on penalties for brokerage services immovable.

According to Khoi, Executive Order 16 provides severe penalties for violations of brokerage activities, so brokerage agents should be clear about these regulations. Otherwise, in addition to administrative penalties, commercial contracts with customers will be canceled and the real estate trading room will be shut down.

The Ministry of Construction is studying the institutionalization of real estate trading activities for the real estate trading law to determine the role and purpose of brokerage in the market, and regulations on the formation of professional skills and responsibilities, said Khoi. β€” Viet Nam News/ANN