Real estate brokers are only about 30-40% compared to the early period of 2022

DNHN - The increase in the number of real estate brokers leaving the industry is because they have not received a salary or income for several months.

According to the Vietnam Real Estate Brokers Association, the current number of brokers in the real estate market is only 30-40% of what it will be in early 2022. Particularly in certain regions, the number of real estate brokers who quit their jobs in the first few months of 2023 reached 80 percent.

In 2023, the wave of layoffs in the real estate brokerage industry began in the months preceding Tet. As a result of the sluggish real estate market, several exchanges were compelled to reduce staff and even adopt a rotating schedule. Sessions, swaps, or individually, up to fifty percent of brokers leave unpaid.

The increase in the number of brokers leaving the industry is because they do not receive a salary and have no income for several months because there are no "goods" to sell.

Mr. Nguyen Van Dinh, chairman of the Vietnam Real Estate Brokers Association, clarified the situation of brokers quitting their jobs by stating that the majority of real estate brokers who quit their jobs are new employees who have not been in the profession for a long time. Brokerage firms were forced to close because they could not comprehend, anticipate, and finance events and market trends. The head of the Vietnam Real Estate Brokers Association stated, "Real estate brokers who "survive" the difficult period of the real estate market will be the winners."

The government has launched a VND 120,000 billion credit package with annual interest rates of 8.7% and 8.2% to assist investors and purchasers of social housing. However, this dose of stimulant is unable to rouse the market, which has been dormant for over a year. According to real estate companies, the current annual interest rate for homebuyers of 8.2% is still too high; rates must be reduced to 5%-6% to help the market recover. However, the issue is not so straightforward.

First, it must be established that finding solutions to break the ice on the real estate market is crucial, as this is a highly pervasive sector of the economy. Before discussing the solution to the market recovery, however, it is necessary to determine what type of real estate market we desire – a market for speculators or a market for those in need of housing. truly available?

Recent remarks made by Dr. Tran Du Lich at a seminar hosted by the Thanh Nien newspaper indicate that it is necessary to acknowledge openly that Vietnam's real estate market is still distorted, encouraging speculation...; Current real estate products are primarily for speculation and do not meet the needs of users; Land prices were inflated. Meanwhile, real estate traders use financial instruments excessively and do not manage risks, resulting in negative outcomes.

P.V (t/h)