Hanoi reviews real estate trading floors.

VTV.vn - The Department of Construction has requested real estate trading floors to review their operating conditions and complete their legal documents before May 28th.

Hanoi reviews real estate trading floors.

The Hanoi Department of Construction has issued a document requesting organizations and individuals operating real estate brokerage services in the city to review their operating conditions, complete legal documents, and report on their operational status. The deadline for completing this is before May 28th.

For businesses operating without a license within the city, they must complete procedures including the head or direct manager of the real estate exchange completing a training course and obtaining the corresponding certificate. This is a new measure aimed at curbing the spontaneous and unprofessional establishment of real estate exchanges.

Furthermore, real estate exchanges wishing to operate must be organized as real estate service businesses and must submit documentation to the provincial-level state management agency before commencing operations to obtain a license. According to the Department of Construction, this regulation helps the management agency to statistically track, monitor, and control the entire system of real estate exchanges in the area.

Real estate exchanges must also establish and publicly disclose their real estate transaction procedures. All steps, from receiving applications, conducting legal checks, posting information, brokerage, signing transactions, to data storage, must have clear and transparent processes.

This is seen as a solution to limit transactions lacking information, misleading advertising, or bringing unqualified products to market.

In addition, real estate exchanges must have a fixed operating location, be clearly registered, and ensure adequate facilities and technical conditions to support transaction activities.

This regulation aims to put an end to the practice of "virtual trading floors," temporary offices, or businesses that operate primarily online but lack a specific legal address.

Source: https://vtv.vn/ha-noi-ra-soat-cac-san-giao-dich-bat-dong-san-100260520214041737.htm