What are requirements for individuals in Vietnam to be issued with practicing certificates for real estate brokers?

1. What are requirements for individuals in Vietnam to be issued with practicing certificates for real estate brokers?

According to Clause 2 Article 70 of the Law on Real Estate Business 2023 of Vietnam, in order to be granted a practicing certificate for real estate broker, an individual must meet the following conditions:

- Pass the examination on real estate brokerage knowledge;

- Have full civil act capacity;

- Not currently facing criminal prosecution, not under temporary detention, not serving a prison sentence, not being subject to administrative handling measures being placed in compulsory rehabilitation centers, compulsory education centers, or not being banned by the court from holding certain positions, practicing certain professions, or performing certain jobs.

However, to register for the examination for the practicing certificate for real estate broker, an individual must meet the following conditions:

- Have a certificate of completion of a training course in real estate brokerage practice knowledge;

- Have a high school diploma or higher;

- Submitted the application to register for the examination and the examination fee to the organizing unit of the examination.

Thus, to be granted a practicing certificate for real estate broker, an individual must meet conditions such as having passed the examination on real estate brokerage knowledge, having full civil act capacity, and not being under criminal prosecution or administrative penalties.

Additionally, to register for the examination, the individual needs a certificate of course completion, a high school diploma or higher, and the submission of the examination registration application and fee.

2. Application for registering the examination for a practicing certificate for real estate broker in Vietnam

According to Article 26 of Decree 96/2024/ND-CP, the application for registering the examination for a practicing certificate for real estate broker includes the following documents:

- Application form for registering the examination for a practicing certificate for real estate broker with a 4x6 cm photo taken within 6 months up to the registration date.

- 01 certified copy of the ID card/CCCD/identity card as per law regulations on identity; documents proving Vietnamese nationality or a certificate proving Vietnamese origin as per nationality law regulations or passport (or a copy with the original for comparison).

- 01 certified copy of the certificate of completion of the training course on real estate brokerage practice knowledge.

- Certified copy of the high school diploma (or equivalent) or higher.

- 02 sample photos 4x6 cm taken within 6 months up to the registration date, 02 stamped envelopes with the name, phone number, and address of the recipient.

- Certified copies and translations of certificates issued by foreign countries (for foreigners and Vietnamese individuals with valid foreign-issued practicing certificate for real estate brokers).

3. What are regulations on the remuneration and commission for real estate brokers in Vietnam?

The remuneration and commission for real estate brokerage are regulated under Article 63 of the Law on Real Estate Business 2023 as follows:

- Individuals practicing real estate brokerage are entitled to remuneration and commission from real estate trading floor service businesses or real estate brokerage service businesses.

- The remuneration and commission rates for real estate brokerage are negotiated between the individual broker and the floor service business or real estate brokerage service business. The brokerage remuneration does not depend on the price of the transaction being brokered.

Thus, according to Vietnam's real estate business law, the remuneration and commission for real estate brokerage are negotiated between the individual broker and the real estate trading floor/brokerage service business. The remuneration does not depend on the price of the brokered transaction.

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