Want to be in the loop?
subscribe to
our notification
Business News
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
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
![Card image cap](/uploads/news/Factory%201.jpg)
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.