21.06.2020, 23:21

Increased transparency for the real estate market

Increased transparency for the real estate market
1 min read
23 mins ago

Talking to TD, Mr. T – a big project development company in Hoa Binh said that real estate trading floors should stop as a business unit and “should not put on more legal issues, there will be no effect because in reality, trading on the floor is sometimes only procedural because the establishment of the floor is too easy. ” Explaining his opinion, according to Mr. T at present, brokerage activities in Vietnam real estate market are still not very professional, therefore, it should not apply a cumbersome procedure, which is easy to bypass the law like mandatory. Real estate trading, leasing must go through trading floors.

This will increase the cost of procedures, increase the cost through the floor, leading to an increase in the price of real estate capital which is already quite high and if so, the end is a disadvantaged buyer.

Mr. Le Ngoc Quynh – Director of Thinh Vuong Cooperative Investment Company said that abandoning personal regulations, real estate business organizations are required to buy, sell, rent real estate must go through the floor does not mean that “doing hard” floors but it is also the motivation for the floors to become more professional. In a competitive market, the trading floor for investors is the normal civil economic agreement, if any floor sells well, professionally, safely, with competitive fees, naturally both investors and customers will choose trading floor.

Increased transparency for the real estate market

Real estate exchanges should only be stopped as a business unit and “should not add legal issues

Mr. Quynh also acknowledged that the real estate trading through the floor obviously has many benefits but now the conditions for establishing a real estate trading floor are too easy, resulting in many floors being insufficient in both quality and quantity. Accordingly, Mr. Quynh said that in order to become a professional broker, it is necessary to legally have a set of standards and operating conditions of the Floor as well as specific provisions on the technology in real estate sales and the need to have a monitoring mechanism of the home agencies as for the form of management of the stock exchange for example.

When the floor achieved professionalism, standards, transparency, the customer automatically both the investor and the customer will choose the trading floor. On the side of the proposing unit, Mr. Nguyen Van Dinh – VARS Vice President said that VARS has submitted a proposal to the Government and the Ministry of Construction to re-issue regulations on trading real estate products that must go through the trading floor as before. After the Alibaba transaction, the customer did not have a basis to evaluate and check information about the project.

“The products have been put on the floor to sell, the quality must be good, tested, guaranteed benefits for customers to avoid leading to a situation like Alibaba. Units sold through the floor are not accepted, because It is against the rules, “Mr. Dinh said. The Ministry of Construction’s leader is very supportive of this proposal. Of course, Mr. Dinh asserted that the purpose of the proposal was not to create a monopoly in sales of brokers, but only to increase market transparency.

Source: ndh.vn