Is a Real Estate Asset Mandatory for Individuals Engaging in Real Estate Brokerage Services?
Are individuals conducting real estate brokerage services required to own real estate?
According to Article 62 of the Real Estate Business Law 2014, the conditions for organizations and individuals conducting real estate brokerage services are as follows:
Organizations and individuals conducting real estate brokerage services must establish an enterprise and must have at least 02 individuals with a real estate brokerage practice certificate, except for the cases specified in Clause 2 of this Article.
Individuals have the right to independently conduct real estate brokerage services but must have a real estate brokerage practice certificate and register for tax payment in accordance with the tax laws.
Organizations and individuals conducting real estate brokerage services are not allowed to simultaneously act as brokers and a party executing a contract in a real estate business transaction.
Based on current regulations, the law does not require individuals conducting real estate brokerage services to own real estate. Individuals conducting real estate brokerage must meet the conditions listed above.
What does real estate brokerage include?
According to Article 63 of the Real Estate Business Law 2014, the content of real estate brokerage includes:
Seeking partners who meet the conditions of customers to participate in negotiations and signing contracts.
Representing under authorization to perform tasks related to the procedures of buying, transferring, leasing, subleasing, lease purchasing real estate.
Providing information, supporting the parties in negotiations, signing purchase, transfer, lease, sublease, lease purchase real estate contracts.
Real estate brokerage activities include seeking partners, representing under authorization to perform procedures, and providing information, supporting the parties in real estate business transactions.
Respectfully!
