Decision No. 29/2007/QĐ-BXD Issuing the Framework Training Program on Real Estate Brokerage, Real Estate Valuation, and Management and Operation of Real Estate Trading Floors

Decision

Regarding the issuance of the Framework Training Program on Real Estate Brokerage, Real Estate Valuation, and Management and Operation of Real Estate Trading Floors

real estate brokerage, real estate valuation, and management and operation of real estate trading floors

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The Minister of Construction

  Pursuant to Decree No. 36/2003/NĐ-CP dated April 4, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Construction;

  Pursuant to Decree No. 153/2007/NĐ-CP dated October 15, 2007 of the Government detailing and guiding the implementation of the Law on Real Estate Business;

Considering the proposal of the Director of the Legal Department,

The Decision:

Article 1. Issued herewith is the Framework Training Program on Real Estate Brokerage, Real Estate Valuation, and Management and Operation of Real Estate Trading Floors.

Article 2. Educational institutions shall base themselves on the Framework Training Program issued herewith to compile textbooks and teaching materials and organize training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors.

Article 3. This Decision shall take effect fifteen days from the date of publication in the Official Gazette. Ministries, ministerial-level agencies, government agencies, provincial People's Committees, heads of educational institutions, and related organizations and individuals are responsible for implementing this Decision./.

Ministry of Construction                               Socialist Republic of Vietnam

                                            Independence-Freedom-HappinessPhúc

 

Framework Training Program on Real Estate Brokerage, Real Estate Valuation, and Management and Operation of Real Estate Trading Floors

(Issued together with Decision No. 29/2007/QĐ-BXD dated December 31, 2007 of the Minister of Construction)

 General Provisions

1. Educational institutions that meet the following conditions may organize training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors:

 a) For enterprises, they must have business registration for training and capacity building in specialized knowledge. For other organizations, they must be established and assigned functions and tasks for training and capacity building in specialized knowledge by competent authorities;

 

Part I

b) They must have programs, textbooks, and teaching materials consistent with the framework program issued by the Ministry of Construction;

c) They must have a teaching staff with qualifications and experience as prescribed in Article 12 of Decree No. 153/2007/NĐ-CP dated October 15, 2007 detailing and guiding the implementation of the Law on Real Estate Business and meeting the requirements of the teaching subjects.

2. Before organizing training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors, educational institutions must submit one set of documents to the Ministry of Construction for inspection, posting on the Ministry’s website, or written recognition and notification to localities. The documents include the following:

a) Legal documents: Name, contact address, legal representative; business registration certificate for enterprises or establishment decision and assignment of functions and tasks for other organizations;

b) One set of programs, textbooks, or teaching materials compiled in accordance with the framework program issued by the Ministry of Construction;

c) A list of teaching staff prepared according to Model 6 attached to this Program.

3. Educational institutions may independently organize training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors but must fulfill the following obligations:

a) When organizing training, they must notify the Provincial Construction Department in writing where the training takes place;

b) Establish a Training Regulation ensuring strict management of time and content of the program; comply with the framework program issued by the Ministry of Construction, Decree No. 153/2007/NĐ-CP, and relevant laws;

c) Use only the lecturers listed in the roster submitted to the Ministry of Construction. In case of changes to the roster of teaching staff, they must promptly inform the Ministry of Construction for monitoring and management;

d) Decide on granting exemptions (no need to retake) for subjects that individuals have already studied and hold one of the following certificates or diplomas:

- Property Appraiser Card pursuant to Decree No. 101/2005/NĐ-CP dated August 3, 2005 on property appraisal;

- Certificate of Construction Cost Estimation Engineer pursuant to Decree No. 99/2007/NĐ-CP dated June 13, 2007 on construction cost management;

- Certificate of completion of training and capacity building in real estate brokerage, real estate valuation, or management and operation of real estate trading floors;

- Diploma in real estate education from a college level or higher.

Exemptions from subjects must ensure the principle that exempted subjects must have similar content to those prescribed in this framework program; students can only be exempted from theoretical parts, not practical parts and final exams.

e) Report training results to the Provincial Construction Department every six months where the institution is headquartered.

4. The Ministry of Construction will coordinate with localities to inspect and audit educational institutions in their compliance with regulations on training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors. Institutions failing to meet the required conditions will be suspended from conducting such training and capacity building. Institutions violating this framework program will not have their results recognized and must return any certificates issued (if applicable) or face audits and penalties under the law. 5. The Provincial Construction Department is the authority managing training and capacity building in real estate brokerage, real estate valuation, and management and operation of real estate trading floors at the local level..

The agency issuing real estate broker certificates and real estate appraiser certificates is the Provincial Construction Department or the Provincial Department of Natural Resources and Environment-Real Estate, as assigned by the Provincial People's Committee.

These agencies are responsible for reporting periodically every six months or reporting ad hoc as requested by the Ministry of Construction.

4. The Ministry of Construction shall coordinate with localities to inspect and audit training institutions in their compliance with regulations on training and enhancing knowledge in real estate brokerage, real estate valuation, and management and operation of real estate trading floors. Any institution that fails to meet the required conditions shall be suspended from conducting such training and enhancement activities. Training institutions violating this framework program shall not have their results recognized and must have their certificates revoked (if already issued), or face inspection and legal penalties as prescribed.

5. The Department of Construction is the authority responsible for training and enhancing knowledge in real estate brokerage, real estate valuation, and management and operation of real estate trading floors at the local level.

The issuing body for real estate brokerage certificates and real estate valuation certificates is the Department of Construction or the Department of Natural Resources and Environment and Housing, as assigned by the provincial People's Committee.

These agencies are responsible for reporting periodically every six months or submitting ad hoc reports as requested by the Ministry of Construction.

6. During the implementation of training and management under this Framework Program, if any agencies, organizations, enterprises, or individuals encounter difficulties or have suggestions for changes to make the program more suitable to actual conditions, they shall reflect such issues in writing to the Ministry of Construction (Legal Department) - 37 Le Dai Hanh Street, Hai Ba Trung District, Hanoi City or directly via email: [email protected] for research and resolution.

Part II

Framework Training Program on Knowledge Enhancement

Regarding Real Estate Brokerage

(The Framework Training Program on Knowledge Enhancement regarding Real Estate Brokerage includes three parts: Basic Knowledge, Specialized Knowledge, and Practical Training and Final Examination)

I. Basic Knowledge (total duration of 40 class hours), including the following topics and contents:

1. (Topic 1): Law on Real Estate Business (12 class hours) including the main contents as follows:

a) Law on Real Estate Business

b) Land Law

c) Housing Law

d) Civil Law

đ) Investment and Construction Law

e) Commercial and Enterprise Law

2. (Topic 2): Real Estate Market (12 class hours) including the main contents as follows:

a) Overview of Real Estate and Real Estate Market

b) Classification of Real Estate Market

c) Factors of Real Estate Market

d) Trends in Development of Real Estate Market

đ) Role of the State in the Real Estate Market

e) Value and Price of Real Estate

3. (Topic 3): Real Estate Business Investment (16 class hours) including the main contents as follows:

a) Fundamental Issues in Real Estate Business Investment

b) Procedures and Formalities for Implementing a Real Estate Business Investment Project

c) Contents of Real Estate Business Investment Projects

d) Contracts in Real Estate Business Activities

đ) Information and Documents on Real Estate

II. Specialized Knowledge on Real Estate Brokerage (total duration of 24 class hours), including the following topics and contents:

1. (Topic 1): Overview of Real Estate Brokerage Services (8 class hours) including the main contents as follows:

a) Introduction to Real Estate Brokerage Services

b) Role of Real Estate Brokers in the Real Estate Market

c) Principles of Real Estate Brokerage Operations

d) Conditions for Operating Real Estate Brokerage Services and Professional Requirements for Real Estate Brokers

đ) Factors Affecting the Development of the Real Estate Brokerage Profession

e) Experiences from Other Countries on Real Estate Brokerage Services

g) Professional Ethics in Real Estate Brokerage

2. (Topic 2): Process and Skills in Real Estate Brokerage (16 class hours) including the main contents as follows:

a) Collecting Information on Supply and Demand in Real Estate

b) Identifying Parties Involved in Real Estate Brokerage Transactions

c) Preparing Transaction Files for Real Estate Brokerage

d) Timeframes and Steps for Executing Real Estate Brokerage Transactions

đ) Skills in Real Estate Brokerage

e) Real Estate Marketing

g) Communication and Negotiation Skills in Real Estate Transactions

h) Organizing and Managing Real Estate Brokerage Offices

III. Practical Training and Final Examination (18 class hours):

1. Practical Training (16 class hours): Studying the practical operations of some real estate brokerage offices; writing a report on findings.

2. Final Examination (2 class hours):

- Duration: 90 minutes

- Examination format: Essay, multiple choice, or a combination thereof.

Part III

Framework Training Program on Knowledge Enhancement

on Real Estate Valuation

(The Framework Training Program on Knowledge Enhancement regarding Real Estate Valuation includes three parts: Basic Knowledge, Specialized Knowledge, and Practical Training and Final Examination)

I. Basic Knowledge: Total number of class hours, topics, and main contents of each topic are implemented as stipulated in Section I of Part II of this Program.

II. Specialized Knowledge on Real Estate Valuation (total duration of 48 class hours) including the following topics and contents:

1. (Topic 1): Overview of Real Estate Valuation Services (8 class hours)including the main contents as follows:

a) Introduction to Real Estate Valuation Services

b) Role of Real Estate Appraisers in the Real Estate Market

c) Principles of Real Estate Valuation Operations

d) Conditions for Operating Real Estate Valuation Services and Professional Requirements for Appraisers

đ) Experiences from Some Countries on Real Estate Valuation

e) Professional Liability Insurance for Real Estate Valuation

g) Professional Ethics in Real Estate Valuation

2. (Topic 2): Process and Methods of Real Estate Valuation (24 class hours)including the main contents as follows:

a) Determining the Purpose of Real Estate Valuation

b) On-site Survey to Gather Information on Real Estate

c) Analyzing Information on Real Estate

d) Selecting Real Estate Valuation Methods

đ) Determining the Value of Real Estate

e) Preparing Appraisal Reports and Certificates

g) Real Estate Valuation Methods

3. (Topic 3): Real Estate Valuation (16 class hours) including the main contents as follows::

a) Basis for Real Estate Valuation

b) Valuation of Real Estate as Land

c) Valuation of Real Estate as Housing

d) Valuation of Real Estate as Construction Projects

đ) Appraisal Reports and Certificates for Real Estate Valuation

III. Practical Training and Final Examination (34 class hours):

1. Practical Training (32 class hours): Practicing the valuation of a specific piece of real estate, writing a report on the results of the valuation.

2. Final Examination (2 class hours):

- Duration: 90 minutes

- Examination format: Essay, multiple choice, or a combination thereof.

Part IV

Framework Training Program on Knowledge Enhancement

on Management and Operation of Real Estate Trading Floors

(The Framework Training Program on Knowledge Enhancement regarding Management and Operation of Real Estate Trading Floors includes three parts: Basic Knowledge, Specialized Knowledge, and Practical Training and Final Examination)

I. Basic Knowledge: Total number of class hours, topics, and main contents of each topic are implemented as stipulated in Section I of Part II of this Program.

II. Specialized Knowledge on Management and Operation of Real Estate Trading Floors (total duration of 24 class hours) including the following topics and contents:

1. (Topic 1): Organization and Management of Real Estate Trading Floors (8 class hours)including the main contents as follows:

a) Introduction to Real Estate Trading Floors

b) Role of Real Estate Trading Floors in the Real Estate Market

c) Principles of Organization and Operation of Real Estate Trading Floors

d) Conditions for Establishing Real Estate Trading Floors

đ) Rules of Operation of Real Estate Trading Floors

e) Conditions for Managers and Operators of Real Estate Trading Floors

g) Real Estate and Real Estate Business Information through Real Estate Trading Floors

h) Organizing Services at Real Estate Trading Floors

2. (Topic 2): Process and Skills in Real Estate Brokerage (16 class hours) including the main contents as follows:

a) Collecting Information on Supply and Demand in Real Estate

b) Identifying Parties Involved in Real Estate Brokerage Transactions

c) Preparing Transaction Files for Real Estate Brokerage

d) Timeframes and Steps for Executing Real Estate Brokerage Transactions

đ) Skills in Real Estate Brokerage

e) Real Estate Marketing

g) Communication and Negotiation Skills in Real Estate Transactions

h) Organizing and Managing Real Estate Brokerage Offices

III. Practical Training and Final Examination (18 class hours):

1. Practical Training (16 class hours): Studying the practical operations of 1-2 real estate trading floors; writing a report on findings.

2. Final Examination (2 class hours):

- Duration: 90 minutes.

- Examination format: Essay, multiple choice, or a combination thereof.