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RECOVER THE REAL ESTATE MARKET, WHERE TO START?

CT GROUP

This is a tough question, given the decreasing number of real estates’ buyers, businesses are on the verge of bankruptcy or already being bankrupted with no cash flow or revenue as well as their debts in banks and bonds are coming…

The number of dissolved real estate enterprises grew by approximately 20% in the first two months of 2023 compared to the same time in 2022. Some companies downsized their workforce by 60-70% or lowered salaries. To stay viable, many small and medium-sized business owners must sell personal assets. The number of brokers forced to resign reached tens of thousands, estimated to represent 80% of the force, creating an unprecedented situation.

To solve the root of this difficult situation, what could be done after solving the problem of policies and laws but there are still no buyers? Will cash flow keep getting stuck? “Perhaps, in order to fully address the economic problem, it is important to start with the market and human resources. In which case, solutions to stimulate demand in areas with full inventories require special attention, such as accelerating the progress of transportation infrastructure and, in the near future, quickly announcing regional economic plans to gradually create optimism for domestic buyers and foreign investors. Using the public investment budget of over 700,000 billion efficiently to engage the most critical regions”. Chairman of the Vietnam Real Estate Brokers Association – Mr. Nguyen Van Dinh commented

Furthermore, special emphasis should be made to rebuilding human resources in the real estate business, upgrading the sources to create healthy markets, and ensuring long-term development via a sales, management, and real estate broker team. The market is too tough, with insufficient transactions and liquidity… Their employment and income are substantially affected. A big number of jobless salesmen and real estate agents are migrating to other professions, probably never so many like now. Statistics show that more than 100,000 brokers have quit their jobs to change the way they make bread.

In order to recover the market in the current circumstances, the first step is to rebuild the core sales crew, which directly brings items to customers. To achieve this, firms must have adequate resources, a strong reputation, an appealing wage policy, and market-appropriate items to recruit people, train, and activate sales teams.

With the meeting with the topic “Solving and pushing the real estate market in Vietnam”, CT Land announced that the group is recruiting and training 500 professionals and 5.000 collaborators for the sales team. CT Land also guarantees that employees may continue to follow their hobbies and devote themselves to the profession. This big recruiting drive is a plan for implementing several significant initiatives and large projects with different items across sectors to fulfill the market’s genuine demands.

“This is considered a pioneer with the desire to revive the real estate market. CT Land has taken a series of fundamental measures such as signing a cooperation agreement with the Vietnam Real Estate Brokers Association to promote the strong development of the real estate brokerage industry in the future,” said Mr. Nguyen Van Dinh.

Ms. Tran Thi Thuy Binh – Sales Director of Propnex Realty Company – an agent of CT Land shared about the positive state of the business when investing in the forces of brokers: “The current situation is very difficult, but The investor’s commission policy is very helpful for the brokers. Since CT Land applied the new policy, we also receive a hot commission within 24 hours. So, there is more motivation to do the job, speeding up the efficiency of transactions”.

Appreciating the solution from CT Land, Mr. Ngo Xuan Son – General Director of Vietnam Real Estate Investment Joint Stock Company (CT Land agent) said: “CT Land has met all 3 conditions for the agent peace of mind for long-term companionship. The first is the legal transparency of the project. The second is the fee, commission and after-sales parts that the investor gives to the agency and distribution unit. The third is sales policy and marketing support for agents as well as for customers. I think that the policies CT Land offers are the best today, not every investor can do it.”

The real estate industry contributes significantly to economic growth and has a knock-on impact on the development of many companies and sectors. The real estate market’s problems affect many other businesses, including social security. A skilled and responsible sales staff must remove obstacles and promote a healthy real estate market in order to reactivate the market’s optimism and confidence.

In the face of numerous challenges, the correct and proper thing to do right now is to assist ambitious firms in creating and reforming the real estate sales force in the direction of wisdom, professionalism, users, and needs. Real demand for sustainable development is preferable than “surfing” as before.

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