“Real estate business has become an easy job, easy to get rich”

On the morning of August 29, the National Assembly's full-time delegates' conference reviewed and gave opinions on a number of major issues with different opinions on the draft Law on Real Estate Business (amended).

Clearly define information about real estate projects

Commenting on the draft law, delegate Nguyen Anh Tri ( Hanoi delegation) said that it is necessary to encourage organizations and individuals to conduct transactions, buy, sell, transfer, lease, lease houses, construction works, and land use rights through real estate trading floors.

Mr. Tri said that he could not be assured with the current situation, when real estate has great economic value, we have a long time to buy and sell real estate conveniently and easily, but it is also very messy, and when an incident occurs, the people and the government can easily suffer losses.

"Real estate business has become an easy job, easy to get rich, with many tricks and loopholes," said Mr. Tri.

Delegate Nguyen Anh Tri (Photo: Quochoi.vn).

Therefore, to make this market healthy, delegates believe that transactions through real estate trading floors are necessary to ensure formality, seriousness, trust and compliance with the law. Delegates believe that the draft law needs to have regulations to perfect the organizational structure and operation of real estate trading floors.

Also related to the issue of transparency in the real estate market, delegate Van Thi Bach Tuyet (Ho Chi Minh City delegation) suggested that the drafting committee study clearer and more specific regulations so that those who want to buy will know, for example, publicly disclosing information on the Ministry of Construction's website; or the website of the Department of Construction of provinces and cities to help citizens search more easily than current regulations.

The delegate also said that the database on housing and real estate projects is very important, so the draft also needs to define the responsibilities of localities, as well as allocate the budget to build a database on housing and the real estate market.

"It is necessary to clearly define the responsibilities of enterprises in coordinating to publicize project information before signing a deposit contract; the responsibility to share information and make it easy to access and look up information for people to learn," Ms. Tuyet proposed.

There are sanctions for brokerage without a certificate.

Commenting on the draft Law on Real Estate Business (amended), delegate Tran Thi Hong Thanh (Ninh Binh delegation) gave her opinion on prohibited acts in real estate business.

Delegate Hong Thanh agreed with the 7 groups of prohibited acts as in the draft law. In addition, the delegate proposed to add prohibited acts such as manipulating and disrupting the real estate market and clearly define the signs of manipulating and disrupting the real estate market.

Delegate Tran Thi Hong Thanh (Photo: Quochoi.vn).

Regarding the conditions for organizations and individuals doing business in real estate brokerage services, individuals practicing real estate brokerage must meet the following conditions: have a real estate brokerage practice certificate; must practice in a real estate trading floor or brokerage organization.

In order for the State management agency to properly manage these subjects, delegate Tran Thi Hong Thanh proposed that the Drafting Committee study sanctions for individuals who engage in real estate brokerage activities without a real estate brokerage practice certificate and do not work in a real estate trading floor organization.

Regarding the responsibilities of the government and investors, delegates proposed reviewing regulations to specify and clarify the responsibilities of the government and investors in ensuring information transparency so that customers can be proactive and safe in finding and purchasing real estate.

Prohibited acts in real estate business:

1. Real estate business does not meet the conditions prescribed by this Law.
2. Forging documents, intentionally falsifying information, not disclosing information about real estate put into business.
3. Fraud, deception, fraud in real estate business.
4. Collecting money from the sale or lease-purchase of future real estate not in accordance with the provisions of this Law; using money collected from the buyer or lease-purchaser of future real estate not in accordance with the provisions of law.
5. Failure to perform or incomplete performance of financial obligations to the State.
6. Granting real estate brokerage practice certificates and using real estate brokerage practice certificates not in accordance with the provisions of this Law.
7. Collecting fees, charges and other amounts related to real estate business in violation of the law .

Source: https://www.nguoiduatin.vn/kinh-doanh-bat-dong-san-da-tro-thanh-mot-nghe-de-lam-de-phat-len-a623942.html