During the ceremony, the Centre for Property Promotion in Viet Nam and the Viet Nam Association of Property Brokers signed a co-operation agreement and introduced its website. — Photo hanoimoi

HA NOI (Biz Hub) — The Viet Nam Association of Property Brokers made its debut yesterday in Ha Noi. The association represents individual brokers, real estate trading floors and brokerage companies.

Also, the Director of Housing and Real Estate Market Management Department, Nguyen Manh Ha, was appointed president of the association.

Speaking at the ceremony, Nguyen Van Dinh, the association's general secretary, said the association would connect real estate brokers nationwide, as well as guide them to establish a common order that follows the culture and standards of their job.

Dinh added that they will form an organisation that intends on attracting investors both from within and outside the country.

"The association will co-operate with Viet Nam Real Estate Association (VNREA) to organise regular trade fairs for brokers. It is expected that a property fair would take place in Ha Noi in July," he said.

He also noted that the law requires brokers earn certificates, though there is no defined punishment for those operating without certificates.

VNREA officials noted that, in recent years, brokers have played an increasingly important role in estate trading activities. Brokers have not only promoted successful transactions in the market, but also provided information and identified demand and supply.

However, all activities, rights and benefits of brokers have not been protected, while some brokers who lacked professional standards, thus losing trust from home buyers.

During the ceremony, the Centre for Property Promotion in Viet Nam and the Viet Nam Association of Property Brokers signed a co-operation agreement and introduced its website at http://vars.com.vn or http://hoimoigioibds.com.vn. — VNS