To prevent real estate brokers from being eliminated

On December 17, news from the Vietnam Association of Realtors (VARS) said that up to 70% of real estate brokers have changed careers or left the industry recently.

Previously, the number of real estate brokers operating in this field reached about 300,000 people. However, due to the impact of market fluctuations, now only about 100,000 people continue to operate.

The profession requires professionalism

According to Mr. Tran Van Binh, Vice President and General Secretary of the Vietnam Association of Realtors (VARS), among the few brokers still operating, they still face challenges from fierce competition in the real estate industry.

It is the fierce competition and scarce market supply that make real estate transactions complicated. However, in this context, it requires brokers to improve their professional skills.

Real Estate - To prevent real estate brokers from being eliminated — More than 200,000 real estate agents have changed careers or left the industry in recent times.

Acknowledging the difficulties of the market and real estate brokerage, Mr. Nguyen Quoc Huy, representative of Gooroo Group, said that this is an opportunity to promote market development, an opportunity for individuals and businesses to improve their quality and products and services.

Mr. Huy especially emphasized some important factors including: professional certificates, "sincere and pure" thinking that brings benefits to all parties, professional thinking with a focus on practice and skills.

In addition, he also mentioned the need for professional knowledge and supplementary knowledge such as finance, law, management, financial investment, marketing, etc. to be able to approach and advise customers.

According to the representative of Gooroo Group, real estate brokerage is a profession that requires professionalism and class. Brokers need to be multi-taskers, not just single-taskers, with the ability to excel in many fields instead of focusing on just one specific product of a project.

“It’s not about how many units you sell, but how many customers you serve and how many people come back to buy from you,” said Mr. Nguyen Quoc Huy, adding that businesses and trading floors need to reposition the personal resources of current brokers.

They must be different, especially to "please" customers, as well as adapt to the volatile Vietnamese real estate market.

Especially in the context of strong digital transformation, Mr. Huy noted the importance of applying technology. This will help real estate brokers sell products in many different markets, including foreign customers, so mastering foreign languages is very important.

“If brokers do not upgrade and renew themselves, they may continue to face the risk of being eliminated,” Mr. Huy warned.

Enhance readiness for market recovery

Mr. Nguyen Van Dinh, Chairman of VARS, assessed that brokers who continue to operate are those who are passionate about their profession and determined to maintain their profession to the end.

Some brokers leaving the market is also a natural screening mechanism, creating fairness for the market with brokers with full skills and experience.

Real Estate - To keep real estate brokers from being eliminated (Figure 2). — For real estate to operate effectively, it is necessary to provide many support services to customers, not only selling products but also providing related services to bring maximum satisfaction and convenience to customers.

With the support of the Government and the State Bank, the real estate industry has achieved some successes, however, it still faces many factors affecting the business situation.

In the coming time, especially in 2024, the real estate market is expected to open up many new opportunities when the fundamental problems are solved.

Planning is being significantly improved, with 31/63 provinces and cities approved and many localities are expected to have their planning approved between the first quarter and mid-second quarter of 2024.

At that time, the market only had to face challenges such as land auctions and land price determination, as the Government promoted public investment to promote basic economic development, while supporting traffic connections to promote urbanization and real estate.

In addition, Mr. Dinh said the emergence of new laws recently passed by the National Assembly will provide a basis for brokerage activities to become more stringent, ensuring capacity and practice certificates.

Furthermore, before the law is implemented, this is also a good opportunity for real estate brokers to have more time to improve their capacity and knowledge.

From a legal perspective, Lawyer Tran Minh Dung, Deputy Head of VARS Legal Department, informed that the current law clearly divides real estate business and real estate service business.

At the current stage, although the real estate market is slowing down, it also brings opportunities, thereby turning "danger into opportunity".

Mr. Dung acknowledged that this period is the time for individuals and businesses to focus on improving, enhancing and fostering knowledge and skills, ready for the time when the market recovers.

At the same time, he also mentioned the importance of identification and practice certificates in the field of real estate brokerage.

“This not only creates professionalism and reliability in the industry but also helps brokers create a personal mark, enhance reputation and attract customers,” Mr. Dung emphasized.

Finally, Attorney Tran Minh Dung encourages everyone involved in the real estate market to see opportunities in challenges and determine that preparing and investing in themselves will put them in an advantageous position when the market recovers.

Meanwhile, Mr. Vo Nhat Thien, General Director of Cen Mien Trung Joint Stock Company, shared some views on the need to put customers first, focusing on understanding their needs and desires.

He believes that if you put customers at the center with passion, they will come to buy the product. Importantly, do not try to sell things that customers do not need, instead, focus on providing solutions and products that meet their real needs.

On the other hand, for customer reinvestment support activities, Mr. Vo Nhat Thien noted that the approach must be sincere and helpful.

"Helping customers in the reinvestment process is a good way to build long-term relationships and enhance the company's reputation. For real estate to operate effectively, it is necessary to provide many support services to customers, not only selling products but also providing related services to bring maximum satisfaction and convenience to customers," Mr. Thien shared.

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