Real estate broker license in Vietnam is a condition required for real estate brokerage business. This certification helps validate professional competence and ensures quality and ethics in important transactions such as real estate. Viet An Law will summarize the legal contents related to this license in the article below.
According to the provisions of the Law on Real Estate Business, the real estate broker will perform the following tasks:
In practice, there are two types of real estate brokerage activities: enterprises (legal entities) and independent individuals. Accordingly, a real estate broker is an intermediary in real estate trading activities between the buyer and the seller. Therefore, the law stipulates that this broker must not be a party to the above trading relationship, but only benefits based on the remuneration or commission obtained from the transaction.
Real estate brokerage is one of the professions that are regulated by law as a conditional business. Accordingly, a real estate brokerage license is a mandatory condition for individuals and legal entities to be able to carry out real estate brokerage activities.
Article 62 of the Law on real estate business 2014 provides:
Thus, it is not necessary to work in a real estate company to have a real estate license. However, if you are a manager who operates a real estate exchange or is an employee directly involved in real estate brokerage, it is mandatory to have a real estate brokerage license.
Individuals who want to be granted a real estate brokerage license must meet the following specific conditions:
To be eligible to take the test, candidates must also:
The list of documents per one dossier specified as follows:
|Application form for the exam (according to the form in Appendix 1 of Circular 11/2015/TT-BXD );||01||Have a photo of the flag 4x6cm taken within 6 months prior to the submission of application|
|Identity card for Vietnamese or passport for foreigners||01||· A certified copy; or
· A copy with the original for comparison in the case of a passport
|License of completion of the training course on knowledge of real estate brokerage practice||01||If any|
|Certified copy of high school diploma (or equivalent) or more||Depending on the number equals|
|Color photo size 4x6cm||02||Taken within 6 months prior to the submission of application|
|Envelopes with stamps clearly stating the recipient’s name, phone number, and address||02|
|The license is only issued by a foreign country (for foreigners and Vietnamese who have a valid foreign-issued real estate brokerage license).||01||Certified copy and translation|
Before each exam, candidates directly submit 02 sets of exam registration documents as prescribed (01 set is kept at the exam organization unit, 01 set is sent to the Department of Construction for certification).
The content of the exam will include 2 blocks of knowledge:
Note: For candidates with a valid foreign-issued real estate brokerage license or in case of re-issuance of the license because the old license has expired, only the basic knowledge part is required, not the test part. expertise.
A qualifying exam is one with the following results:
Exam results are announced at the exam organizer and on the website of the Department of Construction.
Application for re-examination: Within 10 days from the date of notification of results.
Re-examination: Within 20 days from the date of announcement of the test results, the exam organizer will organize a re-test for candidates whose exams do not meet the requirements. Candidates who do not meet the requirements of any part of the test must retake that part. Each exam is only re-tested once, candidates do not have to pay re-test fees.
The cost of granting a license is 200,000 VND (two hundred thousand VND) for a license, individuals must pay directly at the Department of Construction when receiving the license.
License holders will have their licenses revoked in the following cases:
Yes, if you are:
Procedures for re-issuance shall comply with Article 16 of Circular 11/2015/TT-BXD.
Those who have expired or nearly expired licenses if they want to re-issue their licenses, they have to take the test according to the process from the beginning, but they only have to take the basic knowledge without taking the relevant professional knowledge.
Currently, if an enterprise or individual operates independently and practices real estate brokerage but does not have a practicing license, they will be sanctioned according to the provisions of Article 59 of Decree 16/2022/ND-CP regulating regulations on sanctioning of construction-related administrative violations:
Independent real estate brokerage services without a practicing certificate or an expired practice certificate as prescribed shall be fined from VND 40,000,000 to VND 60,000,000 and remedied by forcing the implementation of licensing procedures when providing services as prescribed.
If the enterprise employs a real estate broker but does not have a practicing license, it will be fined from VND 120,000,000 to VND 160,000,000, and be subject to the additional sanction of operation suspension business real estate brokerage services from 06 to 09 months. To overcome the consequences, the law requires enterprises to add enough people with valid real estate brokerage licenses as prescribed.
Depending on the content of erasure or correction, if this content falsifies the original license issued, the license user will be administratively sanctioned according to regulations.
Also according to the provisions of Decree 16/2022/ND-CP, erasing or modifying a real estate brokerage license to falsify the license content may result in a fine ranging from VND 40,000,000 to VND 60,000,000. In addition, that party must also remedy the consequences by being forced to return the erased or corrected license to the competent agency that issued the license. Accordingly, in order to continue to practice as a real estate broker, that party must carry out procedures for a new license from the beginning.
No, you can not. In case you perform the act of lending, leasing or renting, borrowing a real estate brokerage license to carry out activities related to real estate brokerage, you may be fined from 40,000,000 VND 60,000,000, and be deprived of the right to use the license from 3 to 6 months.
If you need advice on civil law, real estate law, please contact Viet An Law for the most effective support.
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