Are there law regulations on real estate brokerage commission in Vietnam?

Are there law regulations on real estate brokerage commission in Vietnam?

Pursuant to Article 65 of the Law on Real Estate Business 2014, there are regulations on real estate brokerage commission as follows:

1. The real estate brokerage service providers shall receive brokerage commission when their clients sign agreements on real estate sale, transfer, lease, sublease or lease purchase.

2. The real estate brokerage commission shall be agreed by contracting parties.

Thus, according to the above provisions, the law does not stipulate real estate brokerage commission in Vietnam, you and your customer can agree in the real estate brokerage contract on the commission level.

What are regulations on obligations of real estate brokerage service providers in Vietnam? 

Pursuant to Article 67 of the Law on Real Estate Business 2014, obligations of real estate brokerage service providers are specified as follows:

1. Abide by the signed agreement.

2. Provide documents and information about the real estate brokered by them and take responsibility for documents and information provided by them.

3. Support contracting parties in negotiation and conclusion of agreement on real estate sale, transfer, lease, sublease or lease purchase.

4. Conform to the reporting as prescribed in regulations of law and subject to inspection carried out by competent agencies.

5. Pay compensation for damage caused by the provider.

6. Fulfill tax obligations to the State as prescribed in regulations of law.

7. Fulfill other obligations specified in the agreement.

Best Regards!