The current state of human resources in the real estate industry was a key issue of concern at the Congress of the Vietnam Real Estate Training Association held in Ho Chi Minh City on August 12th.
Managers and trainers share insights on human resources in the real estate industry at the forum (Photo: NH).
Whenever there's a land boom... it's always bustling.
According to Mr. Le Nhat Thanh, Operations Director of An Gia Group, the real estate sector requires highly qualified personnel, but currently the market mainly operates on a traditional apprenticeship model.
Mr. Thanh reported that the current real estate workforce only meets 30-40% of the businesses' needs. Personnel work independently, lack legal and social knowledge, and there are many cases of brokers exaggerating product claims, causing confusion.
Associate Professor Dr. Nguyen Thi Hoai Phuong, Rector of Ba Ria - Vung Tau University, believes that the general societal perception of human resources in this field is that they are primarily involved in real estate business and brokerage. However, brokers only need a certificate to practice, and these certificates are easily granted, without requiring law studies or a bachelor's degree.
Although the certificate is legally valid for a limited time, in reality, according to Ms. Phuong, it is implicitly understood to be valid indefinitely, without any supervision or post-audit to see how the certificate holder performs their work.
Associate Professor Dr. Nguyen Thi Hoai Phuong: "Whenever there's a land price surge, students... drop out of school" (Photo: HN).
While university students receive formal training and graduate with degrees, this doesn't automatically mean they have the right to practice a profession. In other words, a university degree isn't as valuable as someone who doesn't need to study at all, simply taking a few months to obtain a professional license.
Based on that reality, Ms. Phuong frankly stated: "So why bother studying for 3-4 years at university?"
According to Associate Professor Dr. Nguyen Thi Hoai Phuong, this paradox is causing universities to be unable to recruit students.
"Or, if we recruit them, when the local area experiences a real estate boom, they will drop out of school and join the outside workforce. Then, in just a few months, they can earn a certificate to make a living," the female principal said.
Mr. Nguyen Duc Lap, Director of the Institute for Real Estate Research and Training, pointed out that legal regulations in the real estate business sector offer virtually no barriers to entry. Whenever land prices surge, people flock to the market. In the real estate process, brokerage services are a very small niche but are the most prominent.
Mr. Lap informed that recent data shows the market has 300,000 brokers, but only 10% have certificates. Certificates are issued by local authorities but allow people to practice nationwide, so people tend to go to whichever place is easiest to obtain a certificate.
According to Mr. Loc, the brokerage profession is alarming because brokers can join freely without training; many organizations legitimize their operations without strict requirements, leading to a lack of transparency in the market.
Creating a "clean" workforce.
According to Dr. Tran Dinh Ly, Vice Rector of Ho Chi Minh City University of Agriculture and Forestry, there are currently about 20 universities nationwide offering real estate training programs. The shortage of human resources compared to market demands is a concern, but caution is needed when assessing the strength of the workforce. In reality, the majority of those entering the market are self-taught and lack formal training.
Human resources in the real estate industry need to meet output standards in terms of competence and ethics (Photo: LL).
According to Mr. Nguyen Duc Lap, serious study is often overlooked in the real estate industry, as many people believe that studying real estate is purely theoretical and has no practical value.
Based on his professional experience, Mr. Lap asserted that this is a misunderstanding. When you have a solid theoretical foundation, applying it to practice makes all issues clear. During the training process, universities should also integrate theory and practice to enhance the quality of their staff.
Associate Professor Dr. Luu Bich Ngoc - Head of the Office of the National Council for Education and Human Resource Development - suggested that a human resource map for this sector could be developed. Particular attention should be paid to the 10% of top-level management personnel who are currently in severe shortage, while lower-level personnel in technical, brokerage, and service roles could face less shortages if properly trained.
Regarding human resource development, Ms. Ngoc emphasized that career guidance should begin after the lower secondary school level. The pressure currently falls on teachers, while their job is not comprehensive enough, nor are they able to fully inspire and awaken students' aptitudes and passions.
The future workforce for various professions needs to be prepared early in the career guidance process (Photo: LL).
Ms. Ngoc suggested that career guidance activities should come from businesses and organizations, sharing their experiences to help students see the realities of different professions so they can learn and seriously commit to them.
Associate Professor Dr. Luu Bich Ngoc also suggested that a set of output criteria for students regarding competence and ethics should be developed to ensure a truly high-quality and well-structured workforce.
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