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When the direct real estate transaction platform appeared: Real estate brokerage will lose it's position ? (Part 2)

<p>Continue <a href="../../../blog/when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-part-1"><strong>Part 1</strong></a> when it mentioned the current status of <a href="../../../blog/when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-part-1"><strong>(online) real estate trading platforms in Vietnam</strong></a>:</p> <p><a href="../../../blog/when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-part-2"><img src="../../storage/editors/images/2019/2/8/odq8kRVnqFiFIBjWVpjwHs7Vid4GEeyJ9vQl8u0X.jpeg" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-2-1" width="1536" height="1032"></a></p> <h3>Part 2 will detail the specific cases and basic procedures for answering the question: Need or No need broker in a real estate transaction.</h3> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Usually it depends on the specific situation here, the respondent - the choice will be the Final Consumer (Buyer - Seller - Tenant - Lender), so certain cases what is it, let's verifyReal find out more details, assuming only Buy and Sell transactions, some cases can be mentioned in real estate transactions (especially secondary market transactions - products finished products) are:</span></span></p> <ul> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Case 1: Customers have suitable products, know the transfer procedures but cannot find buyers because they do not know how or do not have an authentic transaction support platform.</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Case 2: The customer has a suitable product, has already purchased the customer but does not know the transfer procedure.</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Case 3: Buyers cannot find suitable products due to widespread information on the internet, not authentic and "lazy" to search because they know that they can not meet the righteous owner or the product information is not correct.</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Case 4: Customers buy - Sellers "have not found each other" and even find it does not hold transfer procedures.</span></span></li> </ul> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><img src="../../storage/editors/images/2019/2/8/m69xUfBHXb1rclSL32b7XbJDUmyvDaBKZuRFVC0s.jpeg" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-2-2" width="1536" height="864"></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">For the cases listed above, if the problem in the paperwork, transfer procedures or sometimes a matter of time, you can work with brokers or notary office staff to can be supported best and faster, the rest if the problem is only in the stage: cannot find the product, be prevented from contacting the owner, not working directly with the customer who wants to buy for many reasons,... perhaps what you need is a direct real estate transaction platform - the way that verifyReal is operating and supporting transparent market participants.</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">And try to imagine 2 Customers and 1 or 2 knowing both the transfer and purchase procedures (or simply leasing and leasing) but "can't find each other" - temporarily call This is a simple / simple transaction but one of the two customers may have to pay the amount up to 3%/transaction <strong>(maybe up to 60,000,000 VND brokerage fee for Real Estate worth 2,000,000,000 VND)</strong> just to "find each other" is probably a bit (very) wasteful. Try listing with 60,000,000 VND what you can buy for your family and relatives: Interior, European Tour, 1 scooter, savings book, ... And if Real value The estate sold is 5,000,000,000 VND, 8,000,000,000 VND or even 20,000,000,000 VND, the cost will be ...?</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;"><img src="../../storage/editors/images/2019/2/8/jCA6uqfsL6zi5coCAvZDB34ujYWretyGyqfIak1u.jpeg" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-2-3" width="1536" height="810"></span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Perhaps many people will argue that brokers need, need, are indispensable, irreplaceable, ... for some models in the world or in the region, the factor "eliminate them" did with the support from administrative procedures and information published widely and transparently, although there was a lot of controversy, but the effectiveness of these models was really amazing and The most beneficiary is of course a customer. However, <strong>with the current Vietnam Real Estate market, verifyReal confirmed that Real Estate Broker is still an important factor in a transaction</strong> (especially the primary market - new projects, where the need for investment, problem, persuasion and art of sales of brokers), more over real estate is a valuable asset and changing behavior, updating trends as well as transparency in information in the market. The current Vietnam real estate market is difficult to achieve in "one day".</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">However, the importance of brokers should be shown at certain stages, at certain times, for example: support persuading customers if customers are difficult, notarization, complete trading procedures, image refinement - authorized real estate content, ... Customers will be very grateful and happy to pay a brokerage fee (clear agreement in advance, can default to 1%) when they receive the great support and good value from such brokers, the cost is indeed very worthy. However, not all but real brokers have abused / taken advantage of intermediaries - support them to profit, damage their own customers and affect their colleagues other main. So, is there a need to support, authenticate, as well as enhance authentic users as well as true, professional brokers with clear operational rules and customers have the right to choose to work directly with the employer or through a broker that accompanies the transaction when needed and of course only if they believe in the reputation and capacity of the broker has been confirmed by the participating community, if not all both the results and the image of the broker built up for a long time will be lost in the moment of the report. Losing money can be earned - not losing the image, losing credibility, whether rebuilding or not is difficult to say.</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><em><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">*On the other hand, individual authors know there are some real brokers who are still able to buy and invest (by buying / selling by themselves) real estate, so the boundaries or distinctions in the title probably a little short-sighted. There is a distinction that should be in another aspect: reliability and authenticity among the parties when choosing a companion to go to the transaction.</span></span></em></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Mention more details of a basic transaction so you can capture and know that when to choose support from the broker or complete the transaction yourself (soon verifyReal will update the details of the rules) procedures, procedures as well as agencies and departments perform the functions of transfer, purchase and sale of real estate and related procedures so that people can grasp and understand better), mechanical phases copy of a transaction:</span></span></p> <ul> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Step 1: Searching Customers (Buy / Sell / Rent / Rent)</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: 'Maven Pro', sans-serif; font-size: 16px;">Step 2</span><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">: Project consulting or actual viewing of existing products.</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: 'Maven Pro', sans-serif; font-size: 16px;">Step 3</span><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">: Booking / Deposit or Contract directly</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Step 4: Notarization / Complete procedures with the Investor (if no book is available)</span></span></li> <li style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Step 5: Complete the transaction.</span></span></li> </ul> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;"><img src="../../storage/editors/images/2019/2/8/saSAEXFUH2Y2W004K5Y2Jj31pDEsQhKYgzFgRUhv.jpeg" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-2-4" width="1536" height="762"></span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">Customers can rely on these 5 basic steps to be able to measure at what step they really need to support and be able to implement themselves at the step to be able to optimize costs / Real estate transactions.</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; text-align: justify;"><span style="color: #333333; font-family: Maven Pro, sans-serif;"><span style="font-size: 16px;">As a personal judgment from the author, maybe someone will agree or disagree but hopefully through the above article will help you have an overview, more and more realistic about a real estate transaction also as the role of a broker will have to be made in order to make the right choices and to reduce or optimize costs when making real estate buying or leasing deals.</span></span></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; color: #333333; font-family: 'Maven Pro', sans-serif; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; font-size: 16px; text-align: right;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">verifyReal</strong></em></p> <blockquote style="box-sizing: border-box; padding: 10px 20px; margin: 0px 54px; font-size: 24px; border-left: 2px solid #0eaaa6; color: #999999; font-style: italic; font-family: 'Maven Pro', sans-serif; overflow-wrap: break-word; max-width: 100%; text-align: center;"> <p style="box-sizing: border-box; margin: 0px 0px 1.2em; overflow-wrap: break-word; max-width: 100%; line-height: 1.5em; opacity: 0.6; text-align: justify;">About <a href="../../../">verifyReal</a>: Development orientation does not place much emphasis on quantity issues (both in number of users or product listings) as in most current platforms, we want to develop communities and platforms that are weak "Real", "Quality" factor and User experience are top priorities. Naturally, to maintain and develop, we will have a package to update the postings/listings (featured - but not ranked position) and upgrade account (raising the number of postings for users who need to post many or organizations, businesses), but with a Verified Freemium account (using all features) is designed to fit the needs of the majority of users - completely free forever (with you just that is enough, please continue to use, we are happy to support and serve you for free). In addition, we will continuously update the latest development trends and technologies according to the guideline: "Real", "Quality" and User experience.</p> </blockquote>

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When the direct real estate transaction platform appeared: Real estate brokerage will lose it's position ? (Part 1)

<p style="text-align: justify;"><img src="../../storage/editors/images/2019/2/8/OmmmtWD7cni8dBkZGfdju9Gv288swPwAOgLACoHu.png" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position" width="1536" height="1025"></p> <h3 style="text-align: justify;">In Part 1 of the article, we will discuss an overview of current real estate trading platforms in Vietnam. Each trading platform will have a development orientation and its own value but can be divided into two main orientations:</h3> <p style="text-align: justify;"><img src="../../storage/editors/images/2019/2/8/57etRt7mOH0hyCCsDXnsWPcSgY91KzPUrtApdLE1.png" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-1-2" width="1536" height="810"></p> <p style="text-align: justify;">1. Build features &amp; Develop towards <strong>serving the brokerage community and very few existing end users</strong> can interact to use (Buyers - Sellers - Tenants), some typical features:</p> <ul> <li style="text-align: justify;">Sign up for free - Use for fee (Free Account - Limit usage features)</li> <li style="text-align: justify;">Post information/ Fee per listing (costs)</li> <li style="text-align: justify;">Re-new listings (costs)</li> <li style="text-align: justify;">Buy points (costs)</li> <li style="text-align: justify;">Set featured listings (costs - multiple rankings, after "overwriting" the previous listings)</li> <li style="text-align: justify;">And some other features, both costly to use and according to the survey from a small sample of ~ 50 real estate brokers, the cost they spend on advertising monthly fluctuates at VND 5,000,000 on average/month, in which money for information platforms always accounts for a high proportion of up to 50% of the total budget (ie ~ 2,500,000 VND / month), whether or not the results ... And perhaps because of this reason many of the customers' thoughts were deep "this place is not for me": because the money brokers posted the information, it was not clear what effect, what kind of situation ...</li> <li style="text-align: justify;">Development direction is primarily for <strong>displaying information &amp; restricting interaction among users</strong>, while on the other hand, ranking information based on "purse" and search tools and technology - Retrieving data not yet updated =&gt; Sometimes causing a bad experience for users who really need information (Real Estate Buyers - Property Tenants).</li> </ul> <p style="text-align: justify;"><img src="../../storage/editors/images/2019/2/8/aUeyNGC7YSerdXD7pYaNswv2Ips1mSDXI7swgT1K.png" alt="when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-1-3" width="1536" height="1023"></p> <p style="text-align: justify;">2. Build features &amp; Develop towards <strong>for end users community (including brokers</strong>, p/s: why you can see Part 2 at the end of the article), some features typical (in this section, verifyReal asks permission to get the current feature of the platform itself as an example *):</p> <ul> <li style="text-align: justify;">Sign up for free - Free to use (Freemium Account - Use the entire feature for free, and if your Freemium account is enough and effective for you, keep going, we'll be happy to help you and ready to serve you completely for free)</li> <li style="text-align: justify;">Post information/Listings (free - limit the number of postings/listings)</li> <li style="text-align: justify;">Do not plan to build up news features because the technology of searching and retrieving data at verifyReal is developed based on the latest technology and is slightly different from the common ground, you can see more here: <a href="../../listings"><strong>Search by location (with "verified property" add-on)</strong></a> &amp; <a href="../../tags"><strong>Tags Search (Faster &amp; Better)</strong></a></li> <li style="text-align: justify;">Set of featured listings (free &amp; cost - no ranking)</li> <li style="text-align: justify;">Upgrade your account (cost - only increase the number of items you can post)</li> <li style="text-align: justify;">The main development is to serve the <strong>search technology/experience - display information &amp; communication - interaction between users and members</strong>. Decentralize the right to make public and private adjustments in terms of information, contact, ... empowering users. However, in terms of regulations, regulations are stricter than traditional platforms.</li> </ul> <p style="text-align: justify;"><em>* Currently in Vietnam, there are some Prop-Tech models with good technology, but still revolve around serving and collecting intermediate fees (whether serving brokers or online real estate brokers), the level Real estate brokerage fees still have to pay quite high to use the service (if it is a posting page) or the fee paid by customers is no different from the communication model: 1% - 2% / transaction (brokerage floor) Real Estate Online) despite the application of technology, but the usage fee is still very high whether collecting fees for using services from brokers or transaction fees of customers, this is still "counter-technology". Using technology, the ultimate goal is to reduce costs (money, time) - increase efficiency for stakeholders - use.</em></p> <p style="text-align: justify;">Going back, it's hard to say which model or orientation is better, because better here is better for the audience: for the broker? for end users? or good for both? Every concept is at a relative level and the receipt of information, using which platform is appropriate to serve each specific need, depends on the judgment or perspective of each individual. But before that, if you have read here, let's find out in detail through this article (it will be quite long and there are 2 parts, hope you will pay attention because you will know more about new things and have a look Multi-dimensional for work, transaction):</p> <p style="text-align: justify;">The current situation of real estate transactions in Vietnam is mostly through brokerage and "martial arts" of real estate brokers at the moment in addition to personal website, salephone, relationship, .. The news pages can be said to be a good new customer exploitation channel but the cost is not small either. However, in the recent time since the market movements are almost no longer favorable as before, the information costs of real estate brokers must be minimized and the efficiency is not very satisfactory, and If you lose money =&gt; reduce your awareness, your message will "drift" to where it is almost as if you know it - because customers will not be able to find it. And so like a loop, not spending money =&gt; no visitors =&gt; not selling =&gt; ...</p> <p style="text-align: justify;">So now, having a <a href="../../"><strong>direct real estate transaction platform in Vietnam</strong></a> - without intermediaries is a necessity and also a factor to promote the change of traditional models - now familiar to concept: registration - recharge - posting news - up news ... With a direct platform, the content of posting information or user behavior needs to comply with stricter regulations but that in the long term creates a foundation transparent, clean and a civilized, highly interactive community - A model that has not yet appeared in Vietnam - A model that verifyReal.com is oriented to build and develop right from the beginning . The model is designed to harmonize public information - private, optimize the decentralization, the highest communication for User / User without any process to prevent any intermediary to User / Person Users can choose and work directly with each other and have strict rules about posting content as well as user authentication, etc. And can even stop providing services / accounts with users. misconduct, harassment, ...</p> <p style="text-align: justify;">Hopefully here, you have a better understanding of PropTech concepts and platforms in Vietnam and also hope that the common ground in the future will have updates and improvements more beneficial for users - like The way that verifyReal is attempting day by day...</p> <p style="text-align: justify;">Read <strong><a href="../../../blog/when-the-real-estate-direct-transaction-platform-appeared-real-estate-brokerage-will-lose-its-position-part-2">Part 2</a></strong></p> <p style="box-sizing: border-box; margin: 0px 0px 1.5em; color: #333333; font-family: 'Maven Pro', sans-serif; overflow-wrap: break-word; max-width: 100%; line-height: 1.7em; font-size: 16px; text-align: right;"><em style="box-sizing: border-box;"><strong style="box-sizing: border-box; overflow-wrap: break-word; max-width: 100%;">verifyReal</strong></em></p>