In the document just sent to the Ministry of Justice for appraisal, the Ministry of Construction has a Summary Report on the implementation of the 2023 Real Estate Business Law.
Notably, according to the Ministry of Construction, the 2023 Real Estate Business Law has many new regulations to improve the professionalism of real estate services such as: real estate brokerage services; real estate trading floor services; real estate consulting services and real estate management.
A noteworthy new point of the Law is that it stipulates that some types of real estate transactions must be carried out through real estate exchanges, in order to enhance market transparency and better control transaction activities.
In addition, the Law also stipulates stricter conditions for real estate brokerage practice, the issuance of brokerage practice certificates and the responsibilities of organizations and individuals operating in the real estate service sector.
According to reports from localities, the number of individuals granted real estate brokerage practice certificates in the past time is quite large, showing the demand for participating in brokerage activities and the level of development of the real estate market in many localities.
Accumulated to the time of reporting, some localities have a high number of individuals licensed to practice real estate brokerage such as: Ho Chi Minh City (11,730 individuals), Hai Phong City (1,982 individuals), Bac Ninh (1,950 individuals), Phu Tho (1,838 individuals), Quang Ninh (1,778 individuals), Can Tho (1,445 individuals), Dak Lak (1,055 individuals) and Lam Dong (952 individuals).
In general, regulations on conditions for real estate brokerage practice and the issuance of practicing certificates have contributed to gradually standardizing brokerage activities, improving the professionalism and transparency of the real estate market.
However, in reality, there is still a situation where some individuals engage in brokerage activities without practicing certificates or spontaneous brokerage activities, some brokers take advantage of brokerage to defraud and appropriate customers' assets, some brokers push house prices higher than the actual value, especially apartment prices, leading to people having difficulty accessing housing purchases,..." - the Ministry of Construction said.
In the coming time, the Ministry of Construction believes that it is necessary to continue to strengthen the management of real estate brokerage activities, improve the quality of training, testing and issuing professional certificates; and at the same time strengthen inspection and examination to ensure that organizations and individuals operating in the real estate service sector fully comply with the provisions of law.
