Housing prices are rising not because of brokers "inflating" prices

The content was shared at the press conference of the Vietnam Real Estate Brokers Association. According to the representative of the Association, brokers themselves are also fed up with the current situation of skyrocketing real estate prices.

The content was shared at the press conference of the Vietnam Real Estate Brokers Association. According to the representative of the Association, brokers themselves are also fed up with the current situation of skyrocketing real estate prices.

Recently, the Vietnam Association of Realtors (VARS) held a press conference with the topic "The truth about real estate brokers pushing up prices, causing market disruption" . Accordingly, Dr. Nguyen Van Dinh, Chairman of VARS, affirmed that real estate brokers are not the main reason for the recent increase in housing prices.

“The decision on real estate selling price is the right of the investor and developer. Brokers are not allowed to participate. They have access to the investor's price list almost at the same time as customers/investors,” VAR said.

Brokers also hope that house prices will "cool down" so that they can close deals soon. Photo: Dung Minh

Mr. Dinh even emphasized that the higher the housing price, the more difficult it is for brokers to sell. More than anyone else, brokers are the ones who want the real estate price to be at the most suitable level. Only then will sales become more favorable, and brokers will have the opportunity to receive commissions.

“In reality, to reach customers/investors, real estate trading floors/brokers also have to spend a lot of money on PR and marketing. If the house price is too high, beyond the financial capacity of many people, the attractiveness of the product will decrease, and the ability to close the deal will be more difficult,” VAR concluded at the press conference.

Speaking frankly, the association said that brokers “live on commissions”. They would rather accept low but steady commissions to sustain their lives than spend a whole year chasing a “big deal” while always being in a state of “luck or bad luck”.

According to Mr. Le Dinh Chung, General Director of SGO Homes, the trend of increasing real estate prices is inevitable. However, the strong growth in prices in a very short time is unusual. It is unreasonable to completely blame the brokers.

“Moreover, real estate brokers are the ones who do not want house prices to increase the most. Because when investors sell at high prices, the opportunity to close a deal will be more difficult, brokers will have a harder time, but in reality, the brokerage fees they receive will not change,” Mr. Chung commented.

From the perspective of Ms. Ho Thi Thu Mai, Director of Housing Now, because the demand for housing is not met by the primary market, the price of secondary housing has increased simultaneously. The investor of the primary project, in turn, determines the selling price based on the secondary price and the demand for housing of the people. Therefore, the price of primary housing has also increased.

Source: https://baodautu.vn/batdongsan/gia-nha-o-tang-cao-khong-phai-vi-moi-gioi-bom-thoi-d228943.html