What is the definition of "real estate brokerage"? What are included in real estate brokerage services in Vietnam?

What is the definition of "real estate brokerage"?

As prescribed in the Law on Real Estate Trading in 2014, real estate brokerage means acts as an intermediary between parties in real estate sale, transfer, lease, sublease, lease purchase transactions.

What are requirements for real estate brokerage service providers in Vietnam?

Pursuant to Article 62 of the Law on Real Estate Trading in 2014 stipulating requirements for real estate brokerage service providers in Vietnam as follows:

- Any real estate brokerage service providers must set up the enterprise and there are at least 2 employees obtaining real estate broker license (hereinafter referred to as broker license), excluding cases prescribed in Clause 2 of this Article.

- Any individual is entitled to provide real estate brokerage services independently provided that he obtains a broker license and pay taxes as prescribed in law on taxation.

- Any real estate service provider is not entitled to be both a broker and a contracting party in a real estate transaction.

What are included in real estate brokerage services in Vietnam?

Pursuant to Article 63 of the Law on Real Estate Trading in 2014 stipulating real estate brokerage services in Vietnam as follows:

- Look for partners who meet requirements given by clients for agreement negotiation and conclusion.

- Act as authorized representative to follow procedures for real estate sale, transfer, lease, and sublease or lease purchase.

- Provide information and support contracting parties in negotiation and conclusion of agreement on real estate sale, transfer, lease, sublease or lease purchase.

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