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Illustration photo. (Photo: Tuan Anh/VNA)
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Although the 2023 Real Estate Business Law will come into force on August 1, 2024, tens of thousands of real estate brokers are still lacking broker certificates or their certificates have expired after nine months of the law taking effect.
The journey towards professional standards is challenging as many localities have not yet announced plans to organize broker license exams, despite high demand.
The implementation of regulations related to real estate broker exams and licenses has encountered obstacles. The exam organizing system in localities remains stagnant, causing concerning consequences for businesses, practitioners, and the market.
Many businesses share the desire to enhance their credibility and service quality, building a professional image in the market as this is an inevitable trend. However, they are faced with obstacles due to the lack of license exams.
This situation has caused difficulties for hundreds of real estate brokerage businesses as their brokers have not been able to participate in the license exams. Mr. Pham Trung Hieu, Chairman of Four Home’s Board of Directors, stated that the current Real Estate Business Law delegates the authority to issue licenses to localities, but the progress has been slow. Those working in the brokerage industry expect clear guidance to obtain broker licenses according to the regulations.
“There are existing difficulties and obstacles, especially in distant provinces where there is a lack of coordination between related departments and clear guiding documents,” Mr. Hieu analyzed. “The lack of transparency in the training and licensing process hinders the official recognition of practitioners’ competencies and may reduce the market’s efficiency.”
The Real Estate Business Law, Decree 96/2024/ND-CP detailing the Real Estate Business Law, and Circular 04/2024/TT-BXD providing guidance on the training curriculum for real estate brokerage and floor trading took effect on August 1, 2024. These regulations stipulate that individuals taking the broker license exam must meet certain conditions, including completing a training course and receiving a valid certificate.
However, the suspension of license exams has caused various issues. While many competent units have organized training courses, the bottleneck in issuing licenses has created difficulties for qualified individuals.
Currently, most brokers are operating outside the law, posing risks to both practitioners and customers. Additionally, a large number of brokers who have completed their training but have not received their licenses are disrupting the supply-demand connection in the market. This delay not only causes frustration and diminishes the reputation of practitioners but also impacts the quality of services and customers’ trust.
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(Photo: Manh Khanh/VNA)
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According to a survey by the Vietnam Real Estate Research and Assessment Institute (VARS IRE), 89% of real estate brokers lack a valid license or have an expired license. Specifically, 51.8% do not have a license and have not received any training, 24.1% have been trained but do not have a license, and 12.8% have a license but it is no longer valid. Only 11.3% currently hold a valid license.
The VARS IRE survey of nearly 30,000 brokers also revealed that over 6,000 trainees have completed the training program in accordance with Circular No. 04/2024/TT-BXD of the Ministry of Construction. However, they have not been able to take the license exam due to obstacles in organizing exams in provinces and cities.
Notably, 416 brokerage businesses reported a shortage of licensed personnel, leading to difficulties in recruiting sufficient legal staff and directly impacting transaction activities and market recovery. This has formed a “hidden storm” in the brokerage industry, trapping practitioners between the expectation of complying with the law and the reality of a lack of clear pathways.
This situation reflects a concerning state of legal compliance in the industry and underscores the urgent need for standardization, enhanced training, and transparency in the license exam organization process. Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association (VARS), emphasized that the exam and licensing system is crucial for standardizing the brokerage force, but it has not been implemented by any locality. This situation leaves practitioners in a state of confusion.
At the same time, brokerage businesses face the risk of a shortage of legal personnel to operate their transaction floors. The delay in issuing exam plans and the lack of unified guidance and clear roles for related parties create instability and worry in the real estate business community.
Sharing the same view, Mr. Hoang Van Cuong, a member of the National Assembly’s Economic and Financial Committee, stated that professionalizing the brokerage force is essential for a healthy real estate market. However, he explained that organizing broker license exams faces challenges due to the administrative restructuring process in the provinces and cities.
Another significant difficulty is that the responsibility for developing and securing the exam questions falls on the Chairman of the Provincial Exam Council, which creates pressure for the localities. “To be flexible, provinces can mobilize the participation of real estate organizations and businesses to reduce the burden in this process,” suggested Mr. Cuong.
Given the urgency of this situation, VARS proposes that to facilitate the process of professionalizing the real estate brokerage profession and ensure compliance with legal regulations, state management agencies at all levels and localities need to promptly develop and approve plans for license exams. The number of exams should be sufficient to meet the demands of a large number of brokers.
There should be coordination and unity between nearby localities regarding the timing of exams to support brokers with their travel arrangements and to be flexible and avoid wastefulness. Especially, quality must be emphasized to ensure fairness, transparency, and effectiveness. Strict actions should be taken to prevent the “buying of licenses,” which could impact the quality of real estate brokerage activities.
Thu Hang
– 07:54 05/05/2025
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