What are the conditions for establishing a real estate trading floor?

Establishing a real estate trading floor requires meeting specific conditions prescribed by law. A real estate trading floor is not only a place where real estate sales and rental transactions take place, but must also comply with requirements regarding facilities, operators and operating procedures. Through the following article, Long Phan will help customers clearly understand the conditions to ensure the legal establishment process.

Regulations on the operational content of real estate trading floors

Real estate trading floors are regulated in Article 56 of the Law on Real Estate Business 2023. Accordingly, trading floors must perform basic functions, including:

• Check legality: Verify real estate before putting it into transaction, ensure it meets legal conditions and lists information according to regulations.
• Providing information: Supporting customers in finding and choosing suitable real estate.
• Real estate brokerage: Perform brokerage, support negotiations and negotiate real estate transactions.
• Transaction contract: Support parties to create and sign transaction contracts.
• Payment and handover: Support parties in the payment process, handover of records, papers and real estate (if any).
• Record keeping: Store information and records about real estate and transactions made through the floor.
• Other services: Providing support services for content related to real estate transactions.
• Confirm transactions: Confirm transactions through the exchange and provide information to state management agencies.

Principles of organization and operation of real estate trading floors

Real estate trading floors must operate according to principles to protect the legal rights of parties participating in the transaction. Specifically includes:

Principles of organization and operation of real estate trading floors

• Real estate trading floors must comply with the principles specified in Article 4 of the Law on Real Estate Business.
• The operations of the trading floor must be public and transparent, according to the issued operating regulations and trading procedures.
• Providing real estate transaction services through the exchange and receiving remuneration according to the contract with the party requesting the service.
• Information about the trading floor must be posted on the housing and real estate market information system.
• When signing a contract with a broker, the broker must meet all operating conditions according to the provisions of the Law on Real Estate Business.
• The trading floor can carry out direct transactions and electronic transactions.
• If transactions are made electronically, the floor must comply with the provisions of the Law on Electronic Transactions 2023 and relevant legal regulations.

Principles of real estate business

• Openly, transparently and freely agree on the basis of respecting the legitimate rights and interests of the parties, without violating legal prohibitions.
• Real estate and real estate projects put into business must meet the legal conditions according to the Law on Real Estate Business.
• Organizations and individuals doing real estate business must comply with regulations on the scope of protected areas according to the law on national defense and security.

CSPL: Article 53 of the Law on Real Estate Business 2023.

Conditions for establishing a real estate trading floor

About managers and executives

According to Article 15 of Decree 96/2024/ND-CP, real estate trading floor managers and operators must have the following specific conditions:

• Must have the right to manage a business in Vietnam and have completed a training course on real estate exchange management.
• The manager can also be the legal representative of the business.

Training and certification of managers is an important factor to ensure that the operations of the exchange are carried out properly and effectively.

Regulations on trading floors

Real estate trading floors must be established and registered to operate according to Article 54 of the Law on Real Estate Business 2023. Basic conditions include:

• The floor must have a name and fixed operating address for at least 12 months.
• The trading floor’s facilities must meet technical requirements to support trading activities.
• Must have all legal documents such as certificate of office use rights and practice certificates of brokers.

In addition, the exchange must implement anti-money laundering measures and report in accordance with the law on anti-money laundering.

Consulting services for establishing a real estate trading floor

Long Phan provides professional consulting services in establishing a real estate trading floor, including:

• Consulting on regulations related to the establishment and operation of real estate trading floors.
• Instructions for preparing documents for registration of establishment and issuance of operating licenses for real estate trading floors.
• Consulting on necessary conditions for managers, operators and facilities.
• Representatives work with authorities to complete operating registration procedures for real estate trading floors.
• Consulting on regulations and procedures related to real estate brokerage activities.

If you are in need of establishing a real estate trading floor or need advice on procedures, please contact us via the hotline 0906735386 for timely and accurate support. Long Phan is always ready to accompany you in the process of establishing and registering the operation of a real estate trading floor.