Recently, the story of real estate prices has always been a hot topic attracting much attention from the public. Not only apartments but also villas, townhouses, and auctioned land have been mentioned one after another. People are shocked because each time real estate prices are pushed up.
This has caused a stir in public opinion regarding information related to individuals and businesses operating in the real estate brokerage sector colluding, pushing up prices, and disrupting the market.
Dr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association and President of the Vietnam Association of Real Estate Brokers (VARS), affirmed that real estate brokerage is not the main reason for the recent price hikes in real estate.
In the story of rising housing prices, it is not excluded that there are cases of speculation, profiteering, taking advantage of the imbalance of supply and demand to hoard goods, inflate prices to "surf" and make a difference. However, it is necessary to clearly identify that this is the behavior of "speculators" with finance. Their behavior is to observe, listen, and monitor every fluctuation of the market. And as soon as they see an opportunity, they "recklessly close the deal", then hoard the goods and transfer the name, enjoying the difference.
These subjects are completely different from real estate brokers. Because real estate brokers work and receive remuneration from consulting, introducing and closing customers. They do not have enough finance to hold goods and wait for prices to increase. If there are any, the number can be counted on the fingers, not enough to name and describe, let alone the risk of "creating waves" or "manipulating the market".
Mr. Nguyen Chi Thanh, Permanent Vice President of VARS, commented that the new legal regulations on real estate business have eliminated the situation of free-standing real estate brokers, also known as "land brokers". Real estate brokers today not only need to meet the necessary legal conditions of participating in training courses, improving professional knowledge, and passing the real estate brokerage practice certificate exam. They also need to meet the sufficient condition of participating in economic organizations with legal status.
Mr. Le Dinh Chung - General Director of SGO Homes said that the trend of increasing real estate prices is inevitable. However, the strong growth of real estate prices in a very short time is unusual. The real estate market includes three main entities: investors, brokers and buyers. However, the story of pushing up prices and blaming brokers is unreasonable.
From the perspective of a real estate brokerage business, Mr. Chung affirmed that the main reason for the high real estate prices is that large investors monopolize the supply and drive prices. High investment costs, high demand while supply is scarce make investors have higher expectations for profits. Brokers themselves do not have the ability to intervene in market prices.
