(VEN) - Participants of a recent seminar sponsored by the Ministry of Industry and Trade in coordination with the Vietnam National Real Estate Association (VNREA) said real estate brokers play an important role in balancing supply and demand in the property market. Many successful real estate transactions were implemented through licensed brokers Some 33,000 licensed real estate brokers operate in Vietnam. From 2014-2018, about 80 percent of successful real estate transactions in the country were accomplished through brokers, contributing significantly to minimizing inventories and helping the market develop on a stable and healthy basis. According to Le Dang Doanh, former Director of the Central Institute of Economic Management (CIEM), property market information needs to be made more transparent. Brokerage companies contribute to providing reliable, verified information to customers, he said. Real estate brokers need to improve their knowledge, professionalize their services, pioneer in technology application, and abide by the law and business ethics if they are to contribute to the market’s sustainable development. Nguyen Minh Hoang, Deputy General Secretary of the VNREA said professional development training for real estate brokers in Vietnam remains inadequate. Many seminar participants said VNREA ethics standards should be disseminated among brokers to curb the spread of… Read full this story
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