Real estate enters a new cycle, agents simultaneously recruit troops to "storm" the market

Transactions increase, interest rates decrease, real estate enters a new cycle

According to a recent report by the Vietnam Association of Realtors (VARS), the first sign that the market is entering a new phase is increased liquidity. Specifically, in the second quarter of 2023, the market recorded 3,700 transactions, an increase of 37% compared to 2,700 in the first quarter. By the third quarter, the market had recorded nearly 6,000 transactions, 1.5 times higher than in the second quarter.

According to VARS, newly launched projects across the country have recently received the attention of many investors. Some projects in potential areas have also recorded a sudden increase in bookings. Many people have also paid for townhouses, villas, and commercial real estate products worth over VND5 billion.

Real estate in the new period, agents are recruiting in large numbers to attack the market, picture 1 — The real estate market has started to become vibrant with a sharp increase in transactions from the third quarter of 2023, with customers actively returning to the market during sales events of projects.

In addition, the growth momentum of the real estate market also comes from the interest rate factor. Currently, savings interest rates at banks are falling sharply, in some places only 3-5%/year. This is the motivation for people with accumulated money to switch to more attractive investment channels such as real estate when in fact the preferential loan interest rate to buy real estate on average in the first year is fluctuating around 7-9%/year. The results of a recent survey by VARS show that up to 60% of respondents said they would invest in real estate if interest rates continued to fall.

Dr. Nguyen Van Dinh, Chairman of VARS, commented: "The real estate market in the fourth quarter of 2023 will recover with transaction results clearly improved compared to the previous 3 quarters thanks to strengthened investor confidence, lower interest rates, and more suitable supply sources in the market."

Real estate in the new cycle, agents are recruiting in large numbers to attack the market, image 2 — Cooling down interest rates is a positive factor affecting the real estate market in recent times.

Real estate brokerage profession soon returns to top position in the job market

Thanks to the clear recovery of the real estate market in recent months, the job market related to this field has also become active again.

In fact, since the end of September, many large real estate brokerage companies such as Vietstarland, Newstarland, Dong Tay Land... have continuously posted recruitment notices for hundreds to thousands of employees. It is estimated that the number of people applying for real estate sales staff by the end of 2023 will increase by more than 50% compared to the beginning of the year thanks to strong recruitment campaigns from investors and project agents. Through that, thousands of workers have come closer to the opportunity to change their lives thanks to the real estate brokerage profession.

Real estate in the new cycle, agents are recruiting in large numbers to attack the market, picture 3 — Investors cooperate with real estate agents to focus on adding human resources to welcome the new cycle.

For example, in the two Vinhomes recruitment fairs held in May and October, tens of thousands of real estate brokerage job opportunities were given to candidates. In particular, the Vinhomes recruitment fair held in May 2023 attracted more than 10,000 candidates from all over the country. Most of the candidates are young, dynamic, passionate about the real estate sector, want to work in an attractive environment in terms of income, have a development roadmap to stick with the professional brokerage profession. This is a record number for a real estate recruitment event even when the market is in an uptrend.

One of the reasons why Vinhomes' recruitment fairs always "cause a storm" is because this "giant" often coordinates with real estate brokerage companies to organize specialized product training courses to improve the capacity of the brokerage staff, helping to create an elite sales force with a good understanding of products in all market segments. This is also the driving force behind sales achievements that "shake up" the market, such as the "miracle" of 3,000 apartments in a subdivision of Vinhomes Grand Park being sold in less than 34 hours last October. Or recently, the number of deposits to reserve a place at a newly launched project of Vinhomes in Phu Quoc far exceeded expectations with tens of thousands of apartments thanks to a newly recruited brokerage force of up to 1,000 people.

The above “telling” figures show that the real estate brokerage profession will soon return to the top position in the job market in the coming period, especially when many investors have started planning to launch a series of projects at the end of this year.

Real estate in the new cycle, agents are recruiting in large numbers to attack the market, picture 4 — Brokerage staff will regularly participate in specialized product training courses to improve their capacity and product understanding in all market segments.

It is estimated that the total commission of the real estate brokerage sector in 2023 will increase by 20% compared to 2022, reaching 60,000 billion VND. In particular, the forecasted sharp increase in transaction volume in the fourth quarter of 2023 is an irresistible attraction for new and experienced brokers.

Many experts also commented that the new cycle of the market will have very different factors because the current trend is to focus on developing real values, meeting the actual needs of customers. Combined with a series of preferential policies recently introduced by real estate brokerage companies, the new generation of brokers promises not only to achieve "huge" income but also to cultivate systematic knowledge, contributing significantly to the recovery of the market.

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