“Stamping Out Real Estate ‘Herding’ at the Source”

During the workshop “Standardizing Training and Certification – Elevating Professional Real Estate Brokerage” held by the Vietnam Real Estate Brokers Association (VARS) in Ho Chi Minh City on the afternoon of August 26, Mr. Nguyen Thai Binh, CEO of Dong Tay Land, shared that when recruiting, he pays special attention to the knowledge, skills, and attitude of real estate brokers. However, in reality, only about 10% of employees have valid certificates, while the majority lack certification or have expired ones. Consequently, many businesses have to resort to conducting their own training programs, lacking standardized guidelines, which can lead to brokers making mistakes or even scamming customers, causing harm to both the company and the market.

Ms. Nguyen Thuy Duong, Director of CTS Construction Training and Research Joint Stock Company, pointed out a different reality where many people consider the broker’s certificate merely a “ticket to entry” rather than emphasizing knowledge. As a result, they often opt for short, inexpensive, and easy-to-pass courses instead of comprehensive training. Therefore, it is imperative for the Ministry of Construction to standardize and tighten the quality of education.

From the association’s perspective, Dr. Nguyen Van Dinh, Chairman of VARS, emphasized that real estate is a lifetime asset for many families, so brokers must possess a high level of responsibility and expertise. If training institutions are inadequate and the curriculum is lacking, it is tantamount to aiding violations. “To elevate the profession, we must ensure the quality of education from the root and simultaneously emphasize professional ethics,” asserted Mr. Dinh.

Sharing a similar view, Ms. Tran Thi Cam Tu, CEO of EximRS, revealed that only 10% of their staff possess the required certification. As a result, EximRS had to collaborate with a training institution to provide certification for their employees. However, the recent stagnation in the examination process has caused confusion for the company. She proposed that the Ministry of Construction promptly streamline the examination process and consider standardizing criteria nationwide, even allowing online exams to prevent the purchase of fake certificates.

Ms. Hoang Thu Hang, Head of the Real Estate Market Management Division under the Housing and Real Estate Market Management Bureau (Ministry of Construction), explained that after the Real Estate Business Law of 2023 took effect, the task of organizing examinations and issuing certificates was assigned to local authorities, but it has encountered bottlenecks for various reasons. The Ministry of Construction is currently seeking solutions to address this issue.

Mr. Vuong Duy Dung, Deputy Director of the Housing and Real Estate Market Management Bureau, acknowledged the need for comprehensive improvements, ranging from curriculum to examination methods and the certification process. He even suggested “internationalization” to enhance the quality of content and form, preventing each locality from implementing its own method.

Concluding the workshop, Mr. Pham Lam, Vice Chairman of VARS, emphasized: “Like any other profession, real estate brokerage requires genuine learning, practice, and integrity to truly serve customers. If a company lacks ethics and allows employees to violate regulations, it not only harms customers but also puts its staff at risk of legal consequences.”

Mr. Lam cited examples of real estate companies that engaged in fraudulent activities, with their leaders being prosecuted and many employees arrested, ruining their careers. Therefore, in the long run, brokerage firms should be more stringent and hire only certified brokers while providing supplementary training to enhance the overall team’s quality.