Through the hands of brokers, apartments become price traps for buyers

Although the real estate market is facing slow liquidity, there are still price "matrices" created by brokers.

On many real estate trading sites, it is not difficult to see a piece of land or a house advertised for sale by many different brokers with many prices that have very large differences.

Most recently, in a group about farm land and suburban land, a house in Phu Tho with a total area of 7,100 m2 (including 400 m2 of residential land) was advertised for sale at 600 million VND.

However, two other brokers gave two much lower numbers of 550 million VND and 500 million VND.

Or a house on Thanh Dam street (Thanh Tri ward, Hoang Mai district, Hanoi) was also offered by brokers with a "shocking" price difference of nearly 1 billion VND, making customers find it hard to believe.

Accordingly, the house with an area of 51 square meters, 6 floors, 1 attic on Thanh Dam street is being sold by a broker for 11.8 billion VND.

But on the same website, another broker advertised the house for sale at 12.5 billion VND, a difference of 700 million VND.

Through the hands of brokers, apartments become price traps for buyers - 1

The same house is being sold by a broker at two different prices. (Screenshot).

According to VTC News , this is not a rare phenomenon, not only occurring in the suburbs but also quite common in the capital Hanoi, where customers have more channels to access better information.

Mr. Le Hoang (Cau Giay - Hanoi) shared his arduous journey of buying a house. He said that in 2021, he and his family decided to buy a townhouse through a friend who is a real estate broker.

“ This friend said the price he offered was the best on the market with the intention of only helping me and not taking any profit. But while I was about to close the deal, my family discovered that another broker was selling the adjacent house for 9 billion VND, 2 billion VND lower than my friend's asking price. I immediately stopped buying and focused on searching for information and realized that someone else was selling it for only 8.5 billion VND. Just among brokers, the price difference was up to 3.5 billion VND. As for the price of the homeowner, I don't know how high the difference is, ” said Mr. Le Hoang.

Mr. Hoang added that many properties he searched for later also had many prices with quite large differences. This made him confused and he still hasn't decided to buy any house, because he doesn't know the real value or is afraid that he bought a house that was "overpriced".

Regarding the activities of real estate brokers, Mr. Ha Quang Hung, Deputy Director of the Department of Housing and Real Estate Market Management (Ministry of Construction) said that there are still shortcomings and inadequacies.

According to Mr. Hung, the law on real estate brokerage stipulates that individuals are not required to have a certificate of completion of the course in order to take the real estate brokerage certification exam. This has created a trend where individuals do not actually study, learn, or research about real estate brokerage, but only participate in some short-term courses taught by unreliable training centers to skim through the knowledge to cope with the qualifying exam.

“ There are even cases of people spending money to “buy” certificates without understanding the brokerage profession ,” said Mr. Hung.

Ms. Nguyen Thi Thanh Huong, Vice President of the Vietnam Real Estate Brokers Association, also said that current regulations on handling and penalizing real estate brokerage activities are not strong enough.

“ It is time for us to have standards for the real estate brokerage profession for individuals and organizations. Having standards will make it easier to clearly identify the necessary and sufficient conditions for individuals and organizations to participate in real estate brokerage, thereby having ways to manage, supervise and have appropriate sanctions to make this activity more professional ,” Ms. Huong stated.

Ngoc Vy

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