What are the requirements to be satisfied by institutions providing training and refresher training in real estate brokerage in Vietnam in 2024?
- What are the requirements to be satisfied by institutions providing training and refresher training in real estate brokerage in Vietnam in 2024?
- What are the requirements for exam and issuance of practicing certificates for real estate brokers in Vietnam under the Law on Real Estate 2023?
- What are the rights of real estate brokers in Vietnam?
- What are the regulations on revocation of real estate broker license in Vietnam?
What are the requirements to be satisfied by institutions providing training and refresher training in real estate brokerage in Vietnam in 2024?
Pursuant to the provisions of Article 69 of the Law on Real Estate 2023, the requirements to be satisfied by institutions providing training and refresher training in real estate brokerage are as follows:
General requirements
Institutions providing training and refresher training in real estate brokerage must meet the following two general groups of requirements:
(1) An institution that provides training and refresher training courses in real estate brokerage must have the status of a juridical person
(2) An institution that provides training and refresher training courses in real estate brokerage must be one of the following entities:
- A training or refresher training institution that is established in accordance with regulations of the Law on Vocational Education and Training or the Law on Higher Education;
- An enterprise that is duly established and whose business lines include provision of training/refresher training in professional knowledge;
- Another organization that is established by a competent authority or organization and assigned by the same to provide training/refresher training in professional knowledge.
Requirements of material facilities
Material facilities used to serve training activities, lecturers and training management apparatus comply with relevant regulations of law on education.
Requirements of training syllabi
Training syllabi of institutions providing training/refresher training courses in real estate brokerage and management of real estate trading floor must be conformable with the framework program issued by the Minister of Construction of Vietnam
What are the requirements to be satisfied by institutions providing training and refresher training in real estate brokerage in Vietnam in 2024?
What are the requirements for exam and issuance of practicing certificates for real estate brokers in Vietnam under the Law on Real Estate 2023?
Pursuant to the provisions of Article 70 of the Law on Real Estate 2023, the exam and issuance of practicing certificates for real estate brokers must meet the following requirements:
Requirements for candidates
- He/she must have a certificate of completion of training or refresher training course in real estate brokerage;
- He/she possesses an upper secondary school’s graduation diploma or higher;
- He/she has submitted an exam registration form and fees to the exam organizing entity.
Requirements for issuance of practicing certificates for real estate brokers
- has successfully passed the exam in real estate brokerage;
- has full capacity of legal acts; and
- He/she is not facing criminal prosecution, kept in temporary detention, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, or prohibited by the court from holding certain positions or doing certain works.
What are the rights of real estate brokers in Vietnam?
Pursuant to the provisions of Clause 2, Article 64 of the Law on Real Estate 2023, a real estate broker shall have the right to:
- Provide real estate brokerage services in accordance with the Law on Real Estate 2023;
- Request relevant organizations and individuals to provide documents and information on real estate to be transacted;
- Refuse to provide brokerage service if the real estate fails to meet conditions for being put on the market;
- Request relevant organizations and individuals to compensate for damage caused by their negligence;
- Receive brokerage remunerations and/or commissions according to provisions of Article 63 the Law on Real Estate 2023:
- Real estate brokers are entitled to remunerations and/or commissions paid by enterprises providing real estate trading floor services or real estate brokerage enterprises.
- The real estate brokerage remuneration or commission shall be agreed upon by the real estate broker and the enterprise providing real estate trading floor services or a real estate brokerage enterprise. The real estate brokerage remuneration is not dependent on the price of the transaction actually conducted with the assistance of the broker.
What are the regulations on revocation of real estate broker license in Vietnam?
Pursuant to Article 18 of Circular 11/2015/TT-BXD, there are regulations on revocation of real estate broker license as follows:
The real estate broker license shall be revoked in the following cases:
- The license holder has lost his/her capacity for civil acts;
- The license holder has declared deceitful information in his/her application;
- The broker license is erased or altered;
- The broker license is lent or leased to another person;
- The license holder has violated the principles of practice as stipulated in the Law on real estate trading and the contents specified in the license;
- The license holder has violation acts resulting in his/her license revoked as stipulated by the laws.
The broker license is revoked by the construction department issuing such broker license. If it is revoked by other competent agencies in accordance with the laws, a written notice shall be sent to the construction department issuing such broker license for knowing and implementing as prescribed in Clause 4 of this Article.
The person whose license is revoked can not ask for reissuance of broker license within 05 years as of the issuing date of decision on license revocation.
After the decision on license revocation is granted, the construction department issuing such broker license shall notify the license holder to resubmit his/her license. The construction department shall publish the name of the person whose broker license is revoked on the mass media and on its website and delete such name from the website of the construction department.
Law on Real Estate 2023 comes into force from January 1, 2025.
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