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Who benefits from eliminating real estate transactions through exchanges?

Who benefits from eliminating real estate transactions through exchanges? 6

Who benefits from eliminating real estate transactions through exchanges?

The Real Estate Business Law promulgated in 2014, effective from July 1, 2015, will officially abolish the requirement that all real estate transactions must go through the exchange, after nearly 10 years of application.

Although the human resource that makes a living from this profession is quite large, experts believe that removing regulations on exchange trading can bring more positives than negatives.

Deputy General Director of Thang Long Real Company, Le Vu Tuan Anh, said that the bright spot of not forcing real estate transactions through the floor is that the first customer and the last buyer can both reduce many procedures.

Mr. Tuan Anh further analyzed that, in addition to reducing procedures and eliminating transactions through the floor, it also shortens the time to learn about the project because customers do not have to go through intermediary channels such as real estate floors but can approach directly.

General Director of Viet An Hoa Company, Tran Khanh Quang, assessed that removing the regulation on real estate transactions through the floor does not actually have much impact on units currently practicing brokerage services.

According to Mr. Quang, currently the majority of real estate floors do not operate in accordance with the provisions of the law.

Experts believe that removing regulations on real estate transactions through exchanges will help the market benefit more: eliminating intermediaries, reducing brokerage fees, avoiding giving dishonest information and blaming each other, too.

This expert points out the advantages of not requiring real estate transactions through the exchange.

Second, from competition between brokers, buyers get more accurate and honest information.

Fourth, brokerage costs may be pulled down thanks to the screening of trading floor systems because the housing selling price is equal to cost plus costs.

Chairman of the Board of Directors of Dat Xanh Group, Luong Tri Thin assessed that according to international practice, the real estate market needs to develop a sales distribution system separate from the project developer (investor) to increase sales.

According to Mr. Thin, let the market give the correct answer to this problem.

However, there are still some opinions that giving up trading through the exchange is not necessarily good.

Meanwhile, in the opinion of Director of Viet Do Real Estate Development Joint Stock Company, Le Hong Thinh, for the market to develop healthily and professionally, it is necessary to trade through the floor.

In advanced countries, when an investor is assigned a project to develop, in addition to worries about cash flow and liquidity, they are also under great pressure on project completion time.

Currently, real estate buyers in Vietnam are starting to form the habit of going to distribution floors to choose suitable products for themselves.

`If only using the investor’s sales team alone is extremely risky,` this expert emphasized.

However, Mr. Thinh admitted that recently there has been a phenomenon of some trading floors only focusing on quantity, not developing in quality.

`The best solution is for investors to choose an exchange to distribute the project to share the burden of business strategy and sales. Consider whether or not to exclusively assign the product

The 2006 Real Estate Business Law stipulates that investors must sell goods through the floor to improve the professionalism of the real estate brokerage profession, increase transparency, and create order and regulation for this market.

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