Real estate brokers need a practice certificate

The Ministry of Construction is seeking comments on the Draft Proposal and the Draft Decree detailing and guiding the implementation of a number of articles of the 2023 Law on Real Estate Business. In particular, the proposed content on the responsibility for organizing the examination and granting of real estate brokerage practice certificates...

Individuals doing business in real estate brokerage services must have a practice certificate (Illustration photo)

According to the provisions of the Law on Real Estate Business (amended), from January 1, 2025, individuals doing real estate brokerage services must have a practice certificate and must operate in a real estate trading floor service business or a real estate brokerage service business.

Speaking with a reporter from Nguoi Lao Dong Newspaper, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, informed that the three laws related to real estate that will soon take effect, namely the Law on Real Estate Business (amended), the Law on Housing (amended), and the Law on Land (amended), all have provisions to protect home buyers.

Therefore, the regulation that real estate brokers must have a practice certificate is similar to driving a car requiring a driver's license, auditors or lawyers requiring a practice certificate... "I think that consulting activities that require professionalism must have a certificate, of course, there is no need to discuss whether it has it or not" - Mr. Quoc Anh expressed his opinion.

Notably, he emphasized that this regulation needs to be implemented soon, because real estate is a difficult market, requiring large investments and a lot of knowledge about finance, products, laws, etc.

However, currently, many people, due to lack of knowledge and qualifications, have come up with unfounded investment invitations and incorrect assessments of projects, causing damage to home buyers - who need to have their information carefully analyzed.

According to the Deputy General Director of Batdongsan.com.vn, in the world , real estate brokerage is a difficult profession, so many countries strictly control their expertise. In particular, they also require brokers to achieve ethical standards. "We cannot provide false information or falsely price real estate products just because we see it as beneficial for ourselves," he said.

Statistics from the Vietnam Association of Realtors (VARS) released in 2023 show that Vietnam currently has about 200,000 people working as real estate brokers. However, only 40,000 people have real estate brokerage certificates and have undergone professional training.

In recent years, many provinces and cities have experienced a land "fever", leading to opinions that part of the cause is due to the influence of brokers.

In fact, many people, even without professional knowledge, work in other professions such as multi-level marketing employees, insurance sales, office workers, roadside drink vendors, motorbike taxi drivers, etc., also work as real estate brokers with the hope of receiving commissions from the "land fever".

Therefore, VARS believes that if we want the market to develop safely and healthily, and people to truly feel secure when choosing to transact through brokers and real estate trading floors, it is necessary to strictly manage individuals who officially practice real estate brokerage at real estate trading floors.

Source: https://nld.com.vn/sap-het-thoi-ai-cung-co-the-lao-vao-con-sot-dat-lam-moi-gioi-bat-dong-san-196240313093651467.htm