Experts firmly believe that unprofessional real estate brokers will be eliminated from the market in the time to come due to the fierce competition on the market.
Real estate brokerage is believed to have a lot of opportunities for development and play a very big role in helping make the real estate market healthy. However, experts have pointed out that there exist a lot of problems with real estate brokerage.
A lot of real estate brokerage offices have been established recently. In order to set up brokerage offices, one should only have to hire a small business premises and advertise the office.
However, most of the offices, which were set up spontaneously, have been operating on a small-scale, and their employees are not professional. The offices do not have much information about land and houses that are offered for sale or purchase. In most cases, the brokers get information from personal relations rather than official channels. In other cases, they get the information from ad columns in newspapers, and then arrange trading deals with the information for commission.
Real estate experts believe that the unprofessional real estate brokerage offices are the ‘culprit’ of distorting the real estate market. They pushed real estate prices to overly high prices and provided incorrect information that caused disputes in trading activities. Meanwhile, the State failed to collect tax from real estate assignment deals as it could not control the transactions.
Tran Minh Hoang, Chairman of Vinaland, a real estate development company, said that in order to have a healthy real estate market, Vietnam needs to have professional real estate brokerage.
Hoang said that professional brokers should be the ones who understand the real estate market well, and can provide reliable information about real estate prices.
To date, many real estate brokerage companies have been established, which have been operating under professionally the mode of joint stock and limited companies. The brokerage companies have practice license, pay tax to the state, have the supply from investors’ projects and from construction companies, and provide reliable information to clients.
Pham Van Hai, General Director of ACB Real Estate Company, said that the brokerage operation has become more operational recently.
Previously, brokers only arranged deals between the sellers and buyers, and their role finishes when the deals are completed. Nowadays, brokers not only bring buyers and sellers together, but also sell ‘solutions’ to clients (providing sufficient information, giving consultancy and giving information about the expected profitability). Therefore, Hai said that good brokers should have a lot of knowledge in many fields, including geomancy and architect, and legal issues, and have skills in negotiations.
Hai also said that clients nowadays and in the past are different. Previously, when the real estate market was ‘in fever,’ buyers were mainly speculators, who did not care much for urban planning. Meanwhile, clients nowadays purchase houses for long term investment or accommodations; therefore, they need sufficient information about products.
Hai believes that unprofessional brokers will be eliminated from the market. He stressed that the best way to help the real estate market develop and help the state collect tax from real estate assignment deals is to set up reasonable policies to develop the system of professional brokers who will replace unprofessional brokers of recent years.
Real estate brokerage is believed to have a lot of opportunities for development and play a very big role in helping make the real estate market healthy. However, experts have pointed out that there exist a lot of problems with real estate brokerage.
A lot of real estate brokerage offices have been established recently. In order to set up brokerage offices, one should only have to hire a small business premises and advertise the office.
However, most of the offices, which were set up spontaneously, have been operating on a small-scale, and their employees are not professional. The offices do not have much information about land and houses that are offered for sale or purchase. In most cases, the brokers get information from personal relations rather than official channels. In other cases, they get the information from ad columns in newspapers, and then arrange trading deals with the information for commission.
Real estate experts believe that the unprofessional real estate brokerage offices are the ‘culprit’ of distorting the real estate market. They pushed real estate prices to overly high prices and provided incorrect information that caused disputes in trading activities. Meanwhile, the State failed to collect tax from real estate assignment deals as it could not control the transactions.
Tran Minh Hoang, Chairman of Vinaland, a real estate development company, said that in order to have a healthy real estate market, Vietnam needs to have professional real estate brokerage.
Hoang said that professional brokers should be the ones who understand the real estate market well, and can provide reliable information about real estate prices.
To date, many real estate brokerage companies have been established, which have been operating under professionally the mode of joint stock and limited companies. The brokerage companies have practice license, pay tax to the state, have the supply from investors’ projects and from construction companies, and provide reliable information to clients.
Pham Van Hai, General Director of ACB Real Estate Company, said that the brokerage operation has become more operational recently.
Previously, brokers only arranged deals between the sellers and buyers, and their role finishes when the deals are completed. Nowadays, brokers not only bring buyers and sellers together, but also sell ‘solutions’ to clients (providing sufficient information, giving consultancy and giving information about the expected profitability). Therefore, Hai said that good brokers should have a lot of knowledge in many fields, including geomancy and architect, and legal issues, and have skills in negotiations.
Hai also said that clients nowadays and in the past are different. Previously, when the real estate market was ‘in fever,’ buyers were mainly speculators, who did not care much for urban planning. Meanwhile, clients nowadays purchase houses for long term investment or accommodations; therefore, they need sufficient information about products.
Hai believes that unprofessional brokers will be eliminated from the market. He stressed that the best way to help the real estate market develop and help the state collect tax from real estate assignment deals is to set up reasonable policies to develop the system of professional brokers who will replace unprofessional brokers of recent years.
Vietnam Net
Comments