Many brokerages closed
Since the beginning of 2023, real estate business has encountered many difficulties, brokerage businesses have no products to sell, cannot find customers... This has caused a series of companies in the field to close or operate at a standstill to wait for the right time.
Accordingly, in Ho Chi Minh City, in October 2023, the Ho Chi Minh City Department of Construction announced that 17 real estate trading floors had ceased operations, including: Cao Phu Thinh Real Estate Trading Floor (National Highway 1A, District 12); Goland Real Estate Trading Floor (No. 47 Dien Bien Phu, District 1); VietLan Real Estate Trading Floor (No. 90A Nguyen Thi Minh Khai, District 3); Quoc Vuong Trading Floor (Provincial Road 10, Tan Tao Ward, Binh Tan District); Winning Access Real Estate Trading Floor (No. 384 Hoang Dieu, District 4); Milestone Land Real Estate Trading Floor (Thu Duc City); Khanh Hoi Real Estate Trading Floor (191 Tran Nao, An Khanh Ward, Thu Duc City); Kim Cuc Land Real Estate Trading Floor (No. 720A Dien Bien Phu, Binh Thanh; Real Estate Trading Floor of Thinh Vuong Chung Company Limited (37 Hoa Mai, Phu Nhuan District)...
During the period of real estate development, many brokerage companies and trading floors were established en masse.
These real estate trading floors were mainly established from 2017 to 2022. The floors have an operating period of 1-2 years. Notably, Hoang Anh real estate trading floor (District 10) was established in 2009 and had to cease operations from September 2019.
Mr. Pham Thanh Duc, Director of a brokerage company in Thu Duc City, Ho Chi Minh City said: “Since the beginning of 2017, the real estate market has been very prosperous, it can be said that everyone is trading in land. In particular, many real estate brokers and sales earn a lot of money through investment channels and real estate consulting. From here, to operate more professionally, they open companies, contribute capital and cooperate with F1 and F2 floors to become small floors to sell products to investors. However, when the market stagnates, they cannot sell products, do not have money to maintain the operating apparatus, pay salaries... From there, the companies gradually disintegrate, and the brokers also find their own way”.
Struggling to make a living
When the real estate market is in trouble, many brokerage companies close down, and brokers and sales staff are forced to quit their jobs. Some people find new real estate companies to work for, but many others are forced to quit their jobs and find new directions.
Sharing with Nguoi Dua Tin , Ms. Hoang Thi Bich Hanh (a broker of UN Company) with an address in Thu Duc City, Ho Chi Minh City said: “I have been a broker for 4 years, I got into the profession thanks to some friends who invited me to study land trading, selling houses and then applied to work at a brokerage company. Last year, the company was still an F2 floor, assigned products to sell, but since the beginning of the year there has been no basket of goods to offer to customers, the salary is low. Selling apartments is mainly for commission, but now the market is not there, customers are not interested, so I had to quit my job and with a friend bought clothes from Tan Binh market to sell, because doing real estate now cannot support myself.”
Many people working in the real estate brokerage field have sought new directions when the market faced many difficulties.
Mr. Thanh Tam (living in Binh Thanh district) shared: “Since 2020, I have been working in car sales. After the pandemic, in early 2022, I saw that the real estate market had a lot of potential, so I switched to NVL Group to work as a broker. At the beginning of the good market, I sold a few apartments, and had a large commission to cover my living expenses. However, up to now, the group of more than 10 brokers on my team have all quit. As for me, I have to find a new direction, applying to work at a bank as a financial consultant to earn income to support my wife and children."
Meanwhile, Mr. Vo Minh Cu, 35 years old, living in Binh Thanh district, said that he has been a real estate broker for 7 years and has experienced many ups and downs in the profession.
During the booming market, he earned money as a broker and bought an apartment in Thu Duc City for his family to live in. But after the pandemic, and now the economic difficulties, everyone in the business group has quit one by one. Mr. Cu also had to quit his job to deliver goods and stay home to help his wife sell beef noodles to earn income.
Many brokers have to do multiple jobs to earn extra income.
When asked if he would return to the brokerage profession, Mr. Cu said, “The brokerage profession is actually very interesting and rich, you will learn a lot from the profession, but due to the pressure of life, the market has no customers, no liquidity, so I am looking for a new direction. But I still post, support old customers to sell products, wait for the market to stabilize, I will also return.”
In fact, in recent times in Ho Chi Minh City and neighboring areas, the wave of brokers quitting their jobs has become massive. Many companies and trading floors have had 70-80% of their brokers switch to new jobs. Many people have tried their hand at new fields (mostly jobs that do not require high expertise) such as online sales, cosmetics business, product marketing... to make a living.
However, most brokers still hope that the real estate market will recover, the economy will be more sustainable, creating real values. Housing demand will go hand in hand with market economic activities, stimulating everything again.
According to the Vietnam Association of Realtors (VARS), the phenomenon of a decline in the number of real estate brokers has become common. The market has recorded a large number of real estate brokers quitting their jobs. The number of real estate brokers currently operating in the market is only about 30 - 40% compared to the end of 2022.
VARS experts assess that this wave has been going on for a long time, with each wave gradually decreasing and showing no signs of stopping. Brokers who remain in the profession must flexibly apply all forms to survive, such as diversifying fields, finding additional jobs, etc.
Next: Real estate revives, brokerage is bustling again
Source
Comment (0)