Real estate brokers are disrupting the market, causing "crazy prices"?

(Dan Tri) - Experts say that there are still some real estate brokers who are influenced by their own interests, disregard legal regulations, and collude with real estate investors to raise or lower market prices.

Recently, public opinion has been stirred up by information related to individuals and businesses operating in the field of real estate brokerage colluding to push up prices, causing market disruption. Some even say that brokers are the factors causing real estate prices, especially the apartment segment in Hanoi , to increase to unusually high levels in recent times.

Regarding this issue, speaking with Dan Tri reporter, Mr. Pham Duc Toan, real estate expert, said that the nature of a broker is only an intermediary between two parties and receives a commission. Therefore, they do not have the right to decide the selling price.

However, there are exceptional cases where brokers put down a deposit to buy a property, then find a buyer at a higher price. If they cannot sell it, they lose their deposit. In this case, they are no longer pure brokers as investors and speculators.

"Recently, supply has been mainly concentrated in the hands of a group of investors. Therefore, they have the advantage of offering higher prices," Mr. Toan added.

Mr. Nguyen Van Phuc, former member of the 12th National Assembly, former Vice Chairman of the National Assembly's Economic Committee, said that in addition to professional brokers who comply with legal regulations, there are still individual real estate brokers who are influenced by interests, disregard legal regulations, and collude with real estate investors to raise prices or suppress market prices.

In a market economy, this phenomenon is difficult to avoid. However, according to him, the fact that investors and brokers collude to increase housing prices has a huge impact on people and future generations. As housing prices continue to rise, it becomes more difficult for young people today to buy a house, settle down, find a job, and start a family, affecting socio-economic development.

A plot of land in the suburbs of Hanoi (Photo: Duong Tam).

Dr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), said that deciding on real estate selling prices is the right of investors and project developers. Brokers are not allowed to participate in any stage related to real estate valuation. They have access to the investor's price list almost at the same time as customers.

According to him, a reality that almost every trading floor faces is that the selling prices proposed by the floors are often criticized by investors as low. Investors want to maximize profits and are often afraid that the floors will offer low prices to easily push goods.

Meanwhile, to reach customers, the trading floor or broker must also spend a lot of money on advertising. If the selling price is too high, beyond the financial capacity of many people, the attractiveness of the product will decrease, and the ability to close customers will be more difficult.

Recently, the story of real estate prices has always been a "hot" topic that attracts much attention from the public. In that story of price increases, there are cases of speculation, profiteering, taking advantage of the imbalance of supply and demand to hoard goods, inflate prices to surf, and make a difference. However, Mr. Dinh said that it is necessary to clearly identify that this is the behavior of speculators with finance.

Their behavior is to observe, listen, and monitor every fluctuation of the market. As soon as they see an opportunity, they hoard goods, find ways to transfer the name and enjoy the difference. These subjects are different from real estate brokers.

Since August, the 2023 Real Estate Business Law, the 2023 Housing Law and the 2024 Land Law have officially taken effect. The new policies have relatively strict regulations on real estate brokerage activities.

Specifically, individual brokers must have a practice certificate. Similar to some other professions such as doctors, teachers, lawyers, etc., real estate brokers also require sufficient qualifications and capacity to practice seriously and professionally.

Along with that, the new law does not allow individuals to practice freely, but must work in a real estate trading floor service business or a real estate brokerage service business. Thereby, helping to manage and supervise the activities of these individuals more closely.

For businesses providing brokerage services, the law requires that they have operating regulations, technical facilities that meet the requirements, and at least one individual with a practice certificate. Before starting business, they must send information about the business to the management agency to post on the housing and real estate market information system.

The law also clearly stipulates sanctions for individuals and businesses that operate as substandard brokers, provide incorrect or inaccurate information, and affect customers.

Source: https://dantri.com.vn/bat-dong-san/moi-gioi-bat-dong-san-dang-lam-nhieu-loan-thi-truong-gay-ngao-gia-20241102194609521.htm