HR drives real estate development

Some people have complained that staff shortage is not a problem in real estate, but that quality staff are certainly in dire need. What do you think about this?

We should understand this in broader terms, that human resources include architects and engineers charged with land investigation, design, construction and maintenance, as well as those involved in investment analysis and market support services.

I think the weakest links are the experts in valuation and intermediary services.

In my opinion the future of real estate businesses depends very much on these people.

I believe that’s why anyone looking to work in the sector must have a work licence starting next year. But so far, has the Ministry of Construction completed the framework of the training programme for real estate mediators, appraisers or managers?

Some universities have offered courses in real estate and land administration to undergraduates, but the textbooks are insufficient.

I have to concede that most teaching materials have been imported and translated into Vietnamese.

In addition, they are still in the trial process.

That’s not all. Foreign textbooks are only appropriated in their countries of origin, with a strong real estate legal system. Viet Nam’s is still developing.

The mushrooming of training establishments for people wanting certification in real estate will actually have a negative impact on the sector’s development due to low quality of training.

According to statistics by the Ministry of Construction, there were 55 training establishments nationwide this year compared to 31 units in 2007.

Each course is less than two months, and the fees vary from VND2-5 million (US$120–310).

If university students want to study real estate, it usually takes four years, with two years majoring in real estate’s special disciplines.

According to Decree 153 and the Business Law, an educational background is not required for applicants seeking certification as a real estate mediator. Those who seek certification as valuators must have graduated from secondary vocational schools. What do you think about these legal requirements?

In other countries, to work as a mediator or a valuator, that person must have completed secondary school, deposit a certain amount of money for professional insurance and receive certification by an authorised agency.

However, in countries like Poland, Russia, Germany and some others, to become a professional mediator, he/she must practise as a trainee with a real estate company from six-24 months and then pass a national test.

For Viet Nam I think we should learn from other countries.

Whatever we plan to do, it should be for the client’s benefit.