Is the real estate market being manipulated by speculation and brokers?
At the seminar “The role of real estate brokers in the new trend”, organized by the Vietnam Association of Realtors (VARS). As the real estate market operates safely and transparently, the role of real estate brokers is becoming increasingly important. Therefore, it is necessary to have stricter regulations and sanctions to “standardize” the current real estate brokerage force.
Mr. Nguyen Van Dinh – Vice Chairman of the Vietnam Real Estate Association, Chairman of the Vietnam Real Estate Brokers Association pointed out that, at present, the situation of land fever is making the real estate market in some localities become more volatile. unhealthy with the help of unprofessional real estate brokers.
“There are even professional real estate brokers who help, participate in blowing prices, and consider land as a commodity for speculation; create benefits not to serve the economic development of the locality”, Mr. Dinh raised the issue.
The expert questioned, the real estate market in our country is being manipulated in some places by speculators, tycoons and real estate brokers. Are these acts in accordance with the provisions of the law? Will it be handled or not?
Therefore, the President of VARS said that it is necessary to research to have a policy to regulate, balance and stabilize the real estate market.
Sharing the same opinion, Mr. Pham Lam – Vice Chairman of Vietnam Real Estate Brokers Association also said that according to incomplete statistics of the Association, currently, our country has about 300,000 people working as real estate brokers. Every year, over 100,000 real estate transactions are conducted in both primary and secondary markets.
“This shows that the brokerage force plays an extremely important role in promoting transactions to take place,” emphasized Mr. Lam.
Lam said that because of its important role, the State management agency must be able to manage this force to control the real estate market. Avoid letting unprofessional real estate brokers take advantage of loopholes to cause land fever to destabilize the market.
Ms. Nguyen Huong – Vice President of the Vietnam Real Estate Brokers Association also added that the number of real estate brokers in Vietnam in recent years has increased rapidly, but the quality has been left open.
“The problem lies in the quality. What are the criteria to determine the quality and conditions to practice as a broker. Although, the Ministry of Construction has regulations related to real estate brokerage practice certificates but There is still no real interest in this force,” Ms. Huong acknowledged.
According to Ms. Huong, the group of unprofessional real estate brokers is greatly affecting investors, customers and the professional real estate brokerage force. Therefore, it is necessary to have solutions and appropriate sanctions to “standardize” the real estate brokerage force in Vietnam.
Mr. Nguyen Manh Khoi – Deputy Director of the Department of Housing and Real Estate Market Management – Ministry of Construction also acknowledged that brokers play a very important role in the real estate market. In order to promote their role, brokers must be well-trained, certified, and trained in professional skills.
However, Mr. Khoi questioned whether the problem was due to insufficient legal provisions, not yet put into practice, or from the responsibility and orientation of the leaders of brokerage organizations and individual brokers.
According to Mr. Nguyen Manh Khoi, it is necessary to find out the reasons and causes that make real estate brokers have such negative effects today. Only then can we determine how much of the role the law plays in this issue.
On behalf of the Vietnam Association of Realtors, Mr. Nguyen Van Dinh also suggested that the State management agency when building the legal corridor should study specific regulations so that the Vietnam Real Estate Brokers Association perform; more clearly promote the role and responsibility of the Association in perfecting the real estate brokerage profession.
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