According to the Law on Real Estate Business No. 29/2023/QH15, Decree 96/2024/ND-CP and Circular 04/2024/TT-BXD (effective from August 1, 2024), individuals taking the real estate brokerage practice certificate exam must meet the conditions such as completing a real estate brokerage training course, fostering real estate brokerage knowledge and being granted a valid certificate.
Dr. Tran Xuan Luong - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - said that currently, no province or city organizes the exam because the new regulations are very different from the Law on Real Estate Business, but according to the provisions of the Law on Education, the Law on Vocational Education is being applied to the training program and exam regulations. Relevant agencies are still in the process of researching and implementing specific instructions to comply with the new regulations.
According to Dr. Tran Xuan Luong, to avoid legal risks and practice in accordance with regulations, students and businesses need to pay attention to choosing legal training units, registering at facilities licensed by the Department of Science and Technology or the Department of Vocational Education. Training units must have qualified lecturers (minimum 1 Doctor of Physical Education) and the program is accredited.
Studying at an unqualified institution can lead to a refusal to issue a certificate, causing waste of time and money without being able to practice legally. In addition, it is necessary to comply with the compulsory training program such as students must complete at least 74 lessons (from 12 sessions or more, including testing and practice) according to Circular 04/2024/TT-BXD. Failure to fully participate or cheating on certificates can lead to refusal to take the exam, being fined or banned from practice.
"The management agency will tighten inspection and testing of professional capacity. Brokers who do not have enough knowledge, violating regulations can have their certificates revoked, suffer administrative sanctions or be legally responsible if they cause serious violations," Dr. Tran Xuan Luong shared.
The Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation added that if people do not comply with regulations, investing in poor quality courses will not only waste time and money but also affect their reputation and career. Even the Provincial People's Committee's Examination Council did not accept the exam conditions.
In addition, businesses using non-compliant brokers can also be fined, lose the trust of customers and partners, and negatively impact business operations.
"The practice of real estate brokerage not only requires a certificate but also requires knowledge, skills, ethics and compliance with the law," said Mr. Luong.
