Real estate brokerage standardization

From 2019 onwards, real estate brokerage is becoming attractive for  a large number of human resources.

Therefore, it is necessary to soon issue a standard of conduct for  real estate brokerage to improve the quality of human resources, contributing to the sustainable development of this market.

Abundant but not very good HR

Besides rising real estate workforce, its quality has improved markedly over the past time. According to statistics of the Vietnam Real Estate Brokerage Association, in 2019, property brokers working at brokerage firms, trading floors, or  independently are estimated at 300,000 people. Over the last 3 years, the brokerage growth rate has averaged about 15%. Real estate brokerage is becoming an attractive job for  many human resources.

However, poverty workforce in Vietnam is mainly from business practice, without the formal training as in developed countries. It is why the quality of real estate human resources is uneven. Together in the name of consultants, some are well-trained and equipped with good skills, but on the contrary, there is a team with a bit of “hustle”, “lottery”, not thinking about sustainable job development and the value brought to customers.

The said fact resulted in tricking customers, offering this project but introducing other ones, accidentally affecting the property market.

In recent years, even many Dai Phuc Land projects have been advertised by fake brokers and sold at low prices as compared to the actual prices of the project, causing customers to be bewildered, discrediting our company. There are even those who took the name of our company’s employees to sign contracts and receive deposits to defraud customers.

This situation is almost floated, leading to a deteriorating business environment, many genuine real estate companies were discredited to their customers. This is an alarm for  the quality of real estate human resources.

Trust from customers is extremely important. The real estate brokers must perceive how to let their customers see that they have enough skills and knowledge to evaluate real estate products in terms of the legal aspect, position, brand name of the project owners… At the same time, they can analyze the potential value of the real estate products, helping customers make the right decision, limit  ing unnecessary risks. Therefore, these human resources need both quantity and excellent quality.

A strict standard needed

Real estate businesses are offering internal training programs at different levels. But not all businesses are aware of such programs.

It is necessary to issue a standard of conduct for  anyone who wants to act as a real estate broker. It shows the quality of human resources that is commensurate with the value of real estate products.

Besides, the above standards and rules will help minimize negative problems and avoid the case that the consultant is aware of things that are not true or  good for  customers but ignores them for  the sake of sales.

In efforts to be fair to the brokers, there should have sanctions, forms of warning the staff to do wrong. For  example, prohibiting practicing activities for  3 months, 6 months, or  even permanently with a violation of ethical standards, causing serious damages to customers.

In general, the human resources of the real estate industry are very complicated. Therefore, it is very urgent to standardize them, avoiding the story of “a worm upsets the soup pot”. Real estate consultants also have to determine their long-term development roadmap, otherwise, they will be quickly eliminated.