1. What is a real estate broker?

Clause 11, Article 3 of the Law on Real Estate Business 2023 stipulates:

Real estate brokerage is an intermediary for parties in buying, selling, transferring, leasing, subleasing, and leasing real estate.

Thus, real estate brokerage is an intermediary for parties in buying, selling, transferring, leasing, subleasing, and leasing real estate.

2. Real estate brokerage content

Pursuant to Article 62 of the Law on Real Estate Business 2023:

- Search for partners that meet customers' conditions to participate in negotiations and signing contracts.

- Authorized representative to perform work related to procedures for buying, selling, transferring, leasing, subleasing, and leasing real estate.

- Provide information and support for parties in negotiating and signing contracts for purchase, sale, transfer, lease, sublease, and lease purchase of real estate.

3. Does a real estate brokerage company have the right to collect deposits from customers?

According to the provisions of Article 64 of the Law on Real Estate Business 2023, enterprises and individuals providing real estate brokerage services have the following rights:

(1) Providing real estate brokerage services;

(2) Request customers to provide real estate records and information to carry out transactions;

(3) Collect service fees from customers as agreed by the parties;

(4) Refuse real estate brokerage that is not qualified to do business;

(5) Request relevant organizations and individuals to compensate for damages caused by their errors;

(6) Other rights under contract.

- Individuals practicing real estate brokerage have the following rights:

  + Rights specified in points (1), (2), (4) and (5).

  + Receive remunerations and real estate brokerage commissions according to regulations.

According to Article 65 of the Law on Real Estate Business 2023, it stipulates the obligations of businesses and individuals providing real estate brokerage services:

(1) Provide complete and honest records and information about the real estate you broker and take responsibility for the records and information you provide;

(2) Organize training and fostering to improve real estate brokerage practice knowledge for real estate brokers working in the enterprise every year;

(3) Fulfill tax obligations to the State;

(4) Compensate for damages caused by your fault;

(5) Implement the reporting regime according to the provisions of law and submit to examination and inspection by competent state agencies;

(6) Other obligations under the contract.

- Individuals practicing real estate brokerage have the following obligations:

  + Obligations specified in points (1), (3) and (4);

  + Implement operating regulations of the real estate trading floor or real estate brokerage service business where the individual works;

  + Participate in training and fostering to improve real estate brokerage practice knowledge every year.

According to the above regulations, real estate brokerage enterprises are only allowed to perform intermediary services for parties wishing to buy, sell, transfer, lease, sublease, lease purchase real estate and enjoy real estate benefits. remunerations and brokerage commissions from these transactions. Collecting or receiving deposits for the conclusion and implementation of real estate transaction contracts is not within the scope of real estate brokerage content, nor is it included in the rights and obligations of real estate brokerage enterprises according to regulations. provisions of the law. The law does not have any specific regulations on whether real estate brokerage businesses have the right to collect deposits from customers.

On the other hand, according to the provisions of Article 292 of the 2015 Civil Code, deposit is one of the measures to ensure the performance of civil obligations. Article 328 of the 2015 Civil Code stipulates:

- Deposit is when one party (hereinafter referred to as the depositing party) delivers to the other party (hereinafter referred to as the deposit receiving party) a sum of money or precious metals, gemstones or other valuable objects (hereinafter referred to as the deposit receiving party) for a period of time to ensure the conclusion or performance of a contract.

- In case the contract is concluded and performed, the deposited assets will be returned to the depositor or deducted to fulfill the payment obligation; If the depositing party refuses to enter into and perform the contract, the deposited property belongs to the deposit receiving party; If the deposit receiving party refuses to enter into or perform the contract, it must return to the depositing party the deposited assets and an amount equivalent to the value of the deposited assets, unless otherwise agreed.

Thus, the purpose of the deposit is to ensure the conclusion or performance of the contract. Meanwhile, real estate brokerage businesses are only intermediaries, not parties with rights and obligations in entering into and implementing contracts. Therefore, real estate brokerage enterprises do not have the right to directly sign deposit contracts and collect deposits for entering into or performing real estate transaction contracts.