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Individuals examine for the true property dealer license examination in Ho Chi Minh Metropolis. Photograph by VnExpress/Trung Tin
There are 300,000 actual property brokers however solely 10 p.c have licenses, in accordance with information from the Vietnam Affiliation of Realtors.
The affiliation stated many of the unlicensed brokers are amateurs, and embrace individuals who determined to alter jobs not too long ago to reap the benefits of the true property increase.
They’re untrained and unregulated, and analysts worry they pose a danger to patrons, sellers and the market as an entire, with some additionally blaming them for inflicting market disruptions and value bubbles by spreading rumors about improvement.
The precise ratio of unlicensed brokers could possibly be even increased because the examine was solely executed on the affiliation’s 300 member corporations.
A minimum of 1,000 corporations have been working earlier than Covid-19.
In the meantime, the variety of purposes for actual property dealer licenses within the south has surged by eight occasions this 12 months, with 2,186 folks taking the dealer’s examination within the first 5 months this 12 months in comparison with 275 final 12 months , in accordance with information from the Ho Chi Minh Metropolis Building Faculty.
The federal government made licenses obligatory in July 2015, and all licenses issued earlier than that have been efficient till 2021, stated Luong Dinh Thu Van, CEO of actual property coaching facility Mogin Institute in HCMC’s District 1.
“Due to Covid-19 final 12 months many individuals couldn’t take the examination for a brand new license.”
Brokers who conduct enterprise with out a license could possibly be fined VND60 million ($2,600), she stated.
The HCC has beneficial establishing a portal for verifying dealer’s credentials to enhance transparency in the true property market.
It additionally instructed letting these having newbie certificates and greater than a 12 months of expertise take the dealer’s examination, and scrap the requirement of a highschool diploma.
Easing eligibility would assist impartial brokers apply professionally in compliance with legal guidelines and rules, it added.
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