Apartment buildings in HCM City. Granting the certificates for the property brokers is an important step to improve the professionalism and transparency of the real estate market. — VNA/VNS Photo

The domestic property market only has about 40,000 real estate brokers with certificates to practise, according to the Việt Nam Association of Realtors (VARS).

The association said that the real estate market normally has about 300,000 to 400,000 individual practising brokers.

After the 2023 Real Estate Business Law officially took effect, the brokers must now have certificates to practise.

According to VARS, granting the certificates to property brokers is an important step to improve professionalism and transparency in the real estate market. At the same time, it prevents and minimises market risks caused by brokerage activities.

However, the organisation of training and examinations for granting the certificates still has many shortcomings in terms of training quality and exam procedures, making the process complicated and not really effective.

To meet market demand, the Department of Construction and relevant offices could organise examinations to grant real estate brokerage practising certificates according to previous regulations.

In addition, the State needs to improve post-inspection work after granting the certificates, and have mechanisms to monitor the activities of brokers, ensuring that they comply with legal regulations and professional standards.

State management agencies need to strengthen inspection and supervision for training facilities, and also publish a list of qualified brokerage training facilities. They should have strong enough sanctions to strictly deal with individual brokers or brokerage training organisations that do not provide quality training. — VNS