INTRODUCTION

1. Reason for choosing the job

The study process at the academy helped me gain a considerable amount of theoretical
knowledge about microeconomics, macroeconomics and other subjects, which can help me
understand the numbers on paper, the specific concepts of the profession, but that is not enough.
In this continuously developing society, at present, learning and practicing at the same time is
the real thing. Such experiences do not overwhelm students, instead, they help students
communicate better with their colleagues at work, overcome their own safe zone and face
different working environments. Having a chance to work in an active and dynamic environment
in this real estate market helps me to be more confident in communication and daily activities.
Regarding the above conditions and reasons, I chose Thien Phu Real Estate Investment and
Development Co., Ltd to make my internship report.
2. The goal of internship
The article “Report on Practice” has the following goals:
 Get access to the real working environment, have the opportunity to observe and learn 
during and outside working hours.
 Understand the requirements of the profession and the job to be done.
 Have strengths and weaknesses self-assessment to make a improvement plan before
entering the labour market.
 Have an overview of a real working environment in order to take notes for personal
documentation.
 Apply learned knowledge to analyze and solve in the report.
 Practice working methods and improve problem-solving skills at work.
 Practice the sense of discipline and labor organization.
 Get familiar with the working environment, learn working skills and build relationships
during the internship.
3. Internship location
With the support of Mr. Le Thai Hoa, I completed my internship at Thien Phu Real Estate
Development and Investment Company Limited.
4. Internship period
Following the schedule as well as my improvement plan, I chose 4 weeks as the practice time.
This internship report was completed in 4 weeks with a 4-week internship period. The internship
period lasted from July 3rd, 2023 to July 30th, 2023.
CHAPTER 1. LEARNING ABOUT THE ENTREPRISE
1. History of formation and development, functions and tasks.
1.1. History of formation and development.
Full name: THIEN PHU REAL ESTATE DEVELOPMENT AND INVESTMENT CO., LTD.
Head office: 5th floor. 58 Van Nhue Street, Ban Yen Nhan Ward, My Hao Town, Hung Yen
Province.
Branch office: Xuan Lam Resettlement Area, Lam Son TT, Tho Xuan District, Thanh Hoa
Province.
Phone number: 0964 151 919 - 0964 766 889.
Tax code: 0964 151 919.
Owner: Tran Van Hao - General Director of the company.
Contact address: Pho Noi urban apartment building, Ban Yen Nhan ward, My Hao town, Hung
Yen province.
Website: thienphuland.com.vn
Email: thienphu22052021@gmail.com
MISSION: Thien Phu is committed to bringing a professional, friendly business environment
and bringing great benefits to investors, employees and partners.
VISION: To become a leading real estate valuation, consulting, brokerage and investment
company in the region. Build a team in order to diversify the real estate business towards
creating more value.
CORE VALUES:
 Intelligence: Each product and service is the crystallization of the wisdom of each
member of the company.
 Customer is the root: implementing all solutions to make customers satisfied and trust,
and bring sustainable values to customers.
 Employees are the centre: Dynamic and equal working environment, creating conditions
for employees to develop sustainably.
 Trust and credibility: Always maintain prestige, responsibility and value for partners and
customers to give their trust.
 Dynamic strategy: Flexibility, integration and creativity in business activities.
 Big thinking: The element of daring, dare to think, dare to do, dare to take responsibility,
helps the company to always lead.
1.2. Functions and duties
     Thien Phu Investment and Development Co., Ltd was established with the main function of
consulting and distributing real estate and apartment projects around Hung Yen and neighboring
provinces. In addition, the Company also has the following duties:
 Organize the sale, transfer, lease, sublease, lease purchase of real estate.
 Ensure the balance between the needs of the buyer and tenant of real estate with the seller
or lessor, stabilizing the difference between the supply and demand of real estate.
 Introduce, list prices, publicly provide information about real estate to participants
wishing to transact according to the discretion of each participant.
 Check the documents, the right to use according to the official notice and the decision
made by the state on the real estate to ensure that it is eligible to be traded.
 Act as an intermediary for participants to exchange, negotiate and sign real estate sales,
transfer, lease, sublease, and lease purchase contracts.
 Always maintain regular transactions to create jobs for employees in order to promote the
economy.
 Always know the legal procedures according to the law, get accurate information from
the Government's resolutions.
1.3. Organizational structure diagram
Behind the success of a collective, a large company is the efforts of different departments.
With different tasks, departments act as cogs for the company's success.
Specialized departments belong to Thien Phu's organizational structure, assigned by the
Board of Directors to perform a number of specific functions and tasks within the scope of the
Company and under the direct and comprehensive direction of the General Director and Deputy
Director.
1.3.1. Structure diagram
1.3.2 Departments’ duties
PROJECT MANAGEMENT DEPARTMENT 
 The Project Management Board is responsible for performing the tasks and powers in
project management in accordance with the provisions of law and guidance in the content of
project management and implementation, including:
 Organizing the preparation for construction investment.
 Organizing the implementation of projects.
 Organize the completion of construction work, handover, operation and use.
ADMINISTRATIVE – HUMAN RESOURCES DEPARTMENT
In administrative work:
 Presiding over or coordinating with departments to prepare activities related to
organizing conferences, working documents for the Company's leaders, writing periodic
or irregular reports of the Company, presiding over clerical work, reception, reception.
 Implement and manage the work related to information technology, website technical
management, presiding over the work of press and media relations.
In logistics management:
 Manage company assets, make plans for repair, maintenance and liquidation.
 Buy equipment and stationery for the Company.
 Presiding over other logistics activities such as: transportation, environmental sanitation,
lunch organization, ...
In researching, building and implementing the Company's human resource management and
development strategy:
 Develop regulations on decentralization of powers and responsibilities between the
Company and the project companies.
 Managing key staff at project companies.
 Develop a plan to attract talents to the Company.
 Perform other duties assigned by Deputy General Director and General Director.
FINANCE - ACCOUNTING DEPARTMENT
Mission:
 Record and account economic and financial transactions arising in the course of
production and business management of the Company, in accordance with the State's
regulations and the Company's financial management regulations.
 Check the implementation of production and business plans, financial revenue and
expenditure plans, collection and payment, check the preservation and use of assets,
supplies and capital; timely detect and prevent wasteful phenomena or violations of
regimes and regulations of the State and the Company.
 Disseminate the State's financial management policies and regimes with relevant
departments when necessary.
 Provide data and documents for production and business management, check and analyze
economic and financial activities for planning and monitoring. Provide reporting data to
relevant agencies according to the current accounting and financial reporting regime.
 Maintain relationships with customers and credit institutions... in short, medium and long
term loan activities.
 Report production and business results to the Board of Directors and Board of Directors
of the Company.
 Perform other duties requested by the leaders.
BUSINESS DEPARTMENT – CUSTOMER CARE
Duties and powers:
  Lead the development of business strategy, sales plans, marketing plans of the Company.
 Suggest and assist the Board of Directors on the market situation, marketing and market
access solutions, promoting the distribution of the Company's products.
 Implement activities and programs to promote business activities of the Company.
 Regularly update and capture market information; collect data to analyze, synthesize and
make monthly, quarterly and yearly reports on the situation of marketing and sales
activities.
 Support and coordinate with member units to develop business activities of products and
services of companies throughout the system.
 Implement public relations activities, website administration (updating, managing
information and images, proposing to improve the website), information focal point,
public statement of the Company.
 Apply measures to develop markets, expand business areas and fields, introduce products
and services to customers, build customer trust, attract customers and implement business
solutions to increase the sales of the Company.
 Proposing to organize customer conferences, events to promote business activities, sales
and expand market share of the Company.
 Perform other duties assigned by Deputy General Director and General Director.
1.4. Sector and type of business.
 1.4.1 Field of business
Thien Phu operates in the field of real estate business.
Real estate business is the investment of capital to carry out construction activities,
purchase, receive assignment for sale or transfer; lease, sublease, lease purchase of real estate;
real estate brokerage services; real estate trading floor services; real estate consulting services or
real estate management for profit purposes (According to Clause 1, Article 3 of the Law on Real
Estate Business 2014).
In the real estate business, the State also makes policies on real estate:
 The State always encourages organizations or individuals of all economic sectors to
invest in real estate business with the goal of socio-economic development in each
locality.
 The State has policies to exempt and reduce taxes, land use fees, and land taxes for
organizations or individuals in investing and developing priority projects.
 The State invests and encourages organizations or individuals to invest in urban public
service projects, social infrastructure works within the scope of real estate investment and
business projects.
 The State has mechanisms and policies to stabilize the real estate market when there are
fluctuations, ensuring benefits for investors and customers.
(Article 7 of the Law on Real Estate Business 2014)
1.4.2 Type of enterprise.
Thien Phu operates in the form of a limited liability company where the members are only
responsible for their contributed capital (limited liability).
 The company has an individual owner, which is Mr. Tran Van Hao - General Director of
the company, who is responsible for the company's debts and other property obligations
within the company's charter capital.
 A limited liability company has legal status from the date of issuance of the business
registration certificate.
  Date of issuance of the company's business registration certificate: 04-05-2021.
 Limited company is not entitled to issue shares. And the special thing is that due to the
legal status, the members of the company are only responsible for the activities of the
company within the amount of capital contributed to the company, so there is little risk to
the owner.
 The company owner has the full right to decide on all issues related to the company's
operations without being dominated or having difficulty in making decisions related to
the company's operations.
 The owner is the person in charge of the accounting of the business without hiring others.
 Issuing bonds to raise capital.
 Business partners and customers:
 The member companies in the new ecosystem will maximize their capacity to create
more products of real value, bring trust, satisfaction and many practical benefits to
customers and partners when participating in the ecological chain to develop together
"For a development community".
 Thien Phu's customers are spread all over the country, Thien Phu is always ready to
accompany customers on all safe and profitable projects in the long run.
1.5. Financial scale and structure of the enterprise.
The initial capital of the company was only 5 billion VND with the share from 5 members of
the Management Council. After a few months of establishment, the company has been supported
through loans through banks and especially a comprehensive strategic cooperation agreement
with Vietnam Maritime Commercial Joint Stock Bank.
The signing of the cooperation agreement also contributes to the convenience, providing
benefits to customers and investors in accessing modern payment services, credit service
packages with attractive low interest rates, along with simple procedures - quick disbursement.
Initially, excluding other costs, the capital spent was 5 billion. Total amount of purchase of
equipment, machinery, lease of premises and other expenses was 1 billion 500 million VND.
After being in operation for more than 3 months, the number of employees increased, with the
share contributions of the members of the board, total capital doubled the original capital with 10
billion VND, along with 4 projects and numerous land lots such as:
 Project of investment and construction of social housing, commercial housing Lac Hong
Phuc.
 Super product commercial townhouses - With the opportunity to do business with real
estate cash flow in Van Lam - Hung Yen.
 Sky Forest Residences Ecopark - Ecopark Group.
 TNR Stars Lam Son - TNR Holdings Vietnam.
With a total area of up to 29.5 hectares for 4 projects and 25 kiosks in hand, the volume of
products launched to the is abundant and diverse.
Regarding equity, it lies in the range of 15 billion and about 13 billion if minus other
payables (according to the declarations from Ms. Phan Thi Chung – Accountant). Working
capital and fixed capital are always quite different from each other. Working capital is paid for
employees' salaries, the company's monthly purchases and expenses, and other known arisings of
VND 854 million.
1.6. Size of the company's personnel
The year 2016 - 2021 is a period of outstanding development in economy and politics.
Despite the complicated situation of the Covid-19 epidemic, under the leadership of the State
Party of Vietnam, there has never been such a golden opportunity for development. Hung Yen is
a province in the Northern Delta region, an important transit point in the key economic triangle
of Hanoi, Hai Phong, and Quang Ninh. Currently, Hung Yen is striving to become an industrial
province in the near future, the economic structure is gradually transforming the economic
structure, which is gradually shifting towards industrialization and modernization, which leads to
the enormous potential for real estate development of Hung Yen.
Being aware of the great potential of the real estate market, in May 2021, Thien Phu's
shareholder council officially established Thien Phu Real Estate Investment and Development
Co., Ltd. With the mission of providing a friendly professional business environment and
bringing great benefits to investors, employees and partners, Thien Phu wishes to become a
leading investment brokerage and real estate development consulting company in the region.
The year 2020-2021 is an extremely difficult time for the world when the Covid-19
pandemic rages everywhere with nearly 7 million deaths. Economic activities around the world
have stalled, but with the leadership ability of the Vietnamese government Party, it has become a
bright spot in the world in terms of disease prevention and economic development. Due to this
situation, the real estate market has had two boom years in all areas and segments. But then the
real estate bubble began to appear, affecting the cash flow of production and business, causing a
great number of real estate offices, sales staff to quit their jobs, close or transform to new
business forms.
Understanding the situation, Thien Phu was established in the second quarter of 2021.
Initially, when it was established, there were 5 employees, after 2 years of establishment, the
number of officers and employees has increased to over 50 employees.
With such an enterprise scale, it is acumen and quick to come up with strategies to build
Thien Phu's staff. Capture the staff who have long experience and are agile in the working
process.
 Easier division and responsibility of work.
 Working operations of subordinates' employees are independent and agile and
concurrently do more work at the same time.
 This requires this employee to be quite enthusiastic and able to work under pressure well.
However, business owners should note that when establishing a business, it is necessary to
consider how many members contribute capital. Then proceed to choose the size of the business.
When the business goes into stable operation for a while, the number of customers also increases
over time. Besides, the business owner clearly assigns the jobs that the employee is in charge of
with each separate department.
After more than 1 year of establishment, Thien Phu has excellent members with the most
outstanding achievements in the company:
 Mr. Luu Dinh Kinh – Best Senior Manager in 2022.
 Mr. Pham Xuan Tung – Best Team Leader in 2022.
 Mr. Nguyen Tuan Anh – The member with the highest revenue in 2022.
 Hoang Quoc Anh – The Best Member of 2022.
Regarding human resources, Thien Phu usually recruits at the beginning of the year, and the
job requirements are not too strict for candidates, including having more than 1 year of
experience in the field of application, having knowledgeable about the real estate market or
negotiation skills with customers, positive working attitude, high responsibility and always
proactive in work.
The company usually does not discriminate by age or qualifications, the company focuses on
understanding and in-depth training on real estate issues, and knowing how to negotiate and
handle all situations in the training course.
As for the departments, they are recruited according to the college and university level
because of their high expertise and accuracy such as the human resources department, the
accounting department,… The company always focuses on the recruitment and selection of
experienced and capable employees in the coming time.
Regarding the heading employees:
 Mr. Tran Van Hao - General Director of Thien Phu
 Nguyen Van Hanh – Deputy General Director
 Nguyen Thanh Huyen – Chief Accountant
 Truong Khac Linh – Communication
Sales Managers: 
 Nguyen Thi Nhung – Head of Department 1
 Hoang Quoc Anh - Head of Department 2
 Nguyen Tuan Anh - Head of Department 3
 Luu Quang Chau – Head of Department 4
Besides human resources, Thien Phu always focuses on the spiritual aspects of its
employees. Thien Phu always organizes trips for all employees in the company. In order to
improve the spirit of cohesion among members of the company, to start the year full of energy at
work. And this is also a great chain in the strong development of the company.
In the spiritual care aspect, Thien Phu is quite caring when building a cafe for employees
and customers. Eating and resting is quite convenient for employees though the work is always
busy, the transaction calls and consulting for customers are always busy. In addition, when
meeting customers directly at the project site of land, housing, staff are always friendly and
enthusiastic. Means of transportation are provided by Thien Phu and serve for direct customer
care.
1.7. Business results of the enterprise
 After 2 years of establishment, Thien Phu is the most sustainable and developing real estate
brokerage company in My Hao district, developing and existing until now. In the future, Thien
Phu aims to mark its name in the real estate market in Hung Yen province and many provinces
across the country. In 2 years, Thien Phu has released more than 5000 products to the market to
customers with a strong staff of more than 50 employees.
Cooperating with many investors, not to mention the famous investor in the real estate field,
Ecopark Group, together with investors in many provinces and cities across the country such as
Hai Duong, Hai Phong, Da Nang, Ho Chi Minh City, Hanoi and not to mention Thanh Hoa
province, which ranked 6th where providing the most real estate projects across the country.
Remarkably, the project is located in Tho Xuan district, Thanh Hoa province with a total area of
up to 10.6 hectares.
Understanding the truth "Human resources are the most valuable "asset" of every business",
from the early days of establishment until now, Thien Phu has always put the human factor on
top. In the first quarter of 2022, the company excellently achieved the highest revenue in the
quarters of 2022 by selling more than 20 products, in a variety of large and small projects that
Thien Phu has cooperated with investors inside and outside the province.
In 2023, Thien Phu was lucky in seizing the golden opportunity as Hung Yen has announced
to invite interested investors to submit their application for registration for the implementation of
the investment project to build Central Park and Dong Khoai Chau new urban area in Dan Tien
commune, Khoai Chau district, Hung Yen province.
Hung Yen province has approved the project with the goal to build a new urban area with
modern architecture, complete synchronous infrastructure with social and economic
infrastructure works to meet the housing needs of people in the area, workers in industrial zones
and other subjects contributing to social stability; as a driving force to accelerate the socio-
economic development process, in order to successfully implement the modernization strategy of
Hung Yen province. Thien Phu owns 800m2 with a total planning and construction area of 34
hectares. Thien Phu always catches golden information in times when real estate prices are
stabilizing and tightening the problem of brokers who "blow prices" up too high. Thien Phu does
the real thing and always abides by all decisions made by the State or the government.
PART II. Learn about the market and the development direction of the business
2.1 State of the market
General developments in the market from 2020 to 2022
Before the negative events caused by the COVID-19 pandemic, the real estate market was
heavily affected, all businesses faced many difficulties, a series of projects had to stop
construction, many businesses had to close or many businesses changed their business models to
match the events of the pandemic... However, in 2021 and the first quarter of 2022, the real
estate market still achieved certain results:
- In terms of real estate supply: In 2021, new real estate projects will decrease compared to
2020 because in 2021, the period of lockdown and isolation for the whole country is a long time.
Most work and study online and on-site.
  - Regarding the number of transactions of apartments, individual houses, land plots: There
are 282,105 successful real estate transactions nationwide, 10,875 successful transactions in
Hanoi alone, in Ho Chi Minh City. Ho Chi Minh City has about 14,443 successful transactions.
-In terms of housing prices and some types of real estate: although the economy has
fluctuated since the pandemic, the prices of real estate, houses and land have continuously
increased since the beginning of 2021. By the end of 2021, apartment prices have increased by
an average of 5–7%, the price of individual houses in the project increased by 15-20%, the price
of land plots increased by 20-30% compared to the end of 2020 (according to the financial
market analyzed in recent years) in the past years.
- Regarding real estate credit: According to the report of the State Bank of Vietnam, as of
November 30, 2021, the outstanding credit balance for real estate business activities reached
VND 690,075 billion (as of September 30, 2021, it was VND 682,594 billion). According to
experts in the banking sector, the ratio of outstanding loans to real estate business in total
outstanding loans (currently about 7%) is still within a safe threshold.
In general, the current situation of Vietnam's real estate market has made certain
development steps, partly meeting the real estate transaction needs of the economy in the process
of the country entering the period of renovation and international economic integration.
On the other hand, there are always negative points:
  - The transparency of the real estate market in all stages of the market's operations from
investment activities, real estate creation to transactions of buying, selling, transferring and
leasing real estate is still limited.
-Competition of the real estate market is still low, especially for the primary market.
Although the mechanism of land auction and project bidding to select investors has been
stipulated in a number of legal documents, its application in practice is still limited, even some
problems have not been implemented yet, most of the respondents answered that the
administrative procedures of the concerned units are too cumbersome, cumbersome, time
consuming and costly;
- Real estate brokerage service activities formed and developed spontaneously. In parallel
with organizations with registered real estate brokerage profession, a series of households,
groups of people, and individuals hang billboards of real estate brokers themselves. The main
function of today's real estate brokerage centers is mainly to connect buyers and sellers without
providing and analyzing necessary information about real estate.
- Real estate prices, especially housing prices, are still high compared to people's income
levels as well as the level of economic development, thereby directly affecting the housing
creation of the majority of low-income workers, the poor in urban areas face many difficulties;
  - The development of the real estate market has not yet ensured the balance, investors only
focus on housing projects, new urban area projects to sell to people with high incomes.
Meanwhile, housing projects for sale on installments or for rent for low-income people have not
been paid enough attention.
2.2. Macro-economic policies that affect the development of enterprises
The real estate market is a volatile market with even a small change.
There are many factors that increase real estate prices, such as supply-demand relationship,
demand is greater than supply, leading to scarce supply, which increases real estate prices. On
the contrary, supply is greater than demand, real estate prices will be leveled off. In addition to
supply and demand factors, there are other factors such as government intervention, competition,
psychology, etc.
In general, the factors affecting the volatility of the real estate business are considered by
market analysts mainly as natural factors, economic factors, legal factors, and other factors such
as social and technological factors.
- Natural factors affecting the real estate market
Natural factors are the first factor affecting real estate prices. Accordingly, this group of
factors includes many small factors such as: location; size, area; geographical location;
architecture, design; environment;…
Location of real estate: The location of a real estate product largely determines the value of
that real estate. There are two types of locations for each type of property: relative location and
absolute location. Both play an important role in determining the price of a real estate product.
You can understand, the relative location is the real estate products located in the urban center
or the center of a certain area, of course, this location will cost a lot more than real estate in
the periphery of the center. Absolute location is the exact location of a real estate product, such
as at a 4 or 3 intersection, on arterial roads and has a higher price than other properties in the
same area.
Acreage. size of real estate products: with a piece of land of appropriate size and area will be
appreciated. With the needs of customers to live in, most people choose a square piece of land,
with an average frontage of 5m or more, a depth of 10-15m. Plots with poor corners or poor
location are usually not selected and prices will fluctuate from lot to lot.
Construction terrain: compared with real estate products in the area, the product customers
choose to buy has high or low terrain, this also affects the price of a real estate product.
Design of the product: a product with trendy design and architecture, more customer tastes
will lead to a higher price of real estate, with the same amount of money spent on construction.
The advantages and risks of nature: Real estate areas located in the area are often affected by
natural disasters (storms, floods, earthquakes, extreme climates ...) thereby causing real estate
values to decrease and vice versa.
Regarding the environment: fresh or heavily polluted environment, quiet or noisy all directly
affect the value of real estate.
Economic factors affecting the real estate market
The value of real estate is influenced by the annual income from the property itself. The
higher the profitability, the higher the property value and vice versa.
Economic growth has a large impact on the demand to buy houses as well as the need to sell
houses of the company's customers. The demand for housing and land depends on the income of
each customer.
 With higher economic growth and increased income, customers will be able to spend more
on housing and land. Just as, during a recession, falling incomes mean people can't afford to buy
homes, land, and people who lose their jobs may be late on mortgage payments and eventually
have their homes foreclosed on.
During the 2-year period when the Covid-19 pandemic happened to the world, with the
world's situation at that time it was very difficult for the economy to decline, but for Vietnam it
was a golden time for growth. However, many industries had to change and restructure to suit
that time. It is because of the cash flow pandemic that people hold more, so each customer looks
to brokerage companies to hold a house or land. This is also the time for real estate prices
rapidly increased. But that does not always reduce the heat in the real estate market.
To understand economic factors, businesses or investors can consider the following news:
  Conditions of the real estate market in the region: Whether the area is oriented or focused
on real estate development investment or not. This is in the development plan of the government
that will determine whether real estate prices will increase or decrease in the near future.
Economic events: Growth, recession, market pace, unemployment rate will also affect real
estate investment decisions. In particular, the big events of TPP, WTO, events attracting foreign
investment such as FDI, FPI increase the demand for real estate, leading to an increase in real
estate value.
Annual GDP growth rate of the region: High GDP will lead to cash flow into real estate.
Real estate channel is considered a very potential investment channel because of its specialized
characteristics.
Monetary policy and system: When monetary policy loosens and interest rates are low,
people, investors and businesses borrow more money. This means that money will pour into the
real estate channel to increase, causing the market price to change.
This is happening when the epidemic situation increases and the state continues to inject
money into the market with supportive policy packages and lower lending rates with the goal of
saving the market. And whatever comes must come, after the epidemic is controlled, real estate
prices will definitely increase in particular and the prices of other assets and commodities will
increase.
Interest rate - the price of capital: has a great impact on the borrowing of capital by
stakeholders in the real estate market. High interest rates leading to high capital costs will reduce
the demand for loans of real estate customers as well as real estate developers and vice versa.
High interest rates push great risks not only for the Supply - Demand side of the market but also
for the whole economy.
Tax rates and tax rates: Areas with preferential tax rates will attract investment capital and
lead to an increase in the real estate market.
Inflation and monetary policy: huge impact on interest rates. The central bank determines
the money supply in the economy. Abundant capital with low cost (low interest rate) will
stimulate demand for loans and home ownership, creating excitement for the whole market and
vice versa.
- Legal factors affecting the value of real estate
Real estate is a special commodity, so if only one procedure is missing, the project cannot be
completed. If the investor has completed site clearance and financial obligations but has not been
approved by the Department of Natural Resources and Environment, the project will not be
accepted.
- Policies have indirect effects: The encouragement of external investment in the locality
promotes the economy, leading to development and the demand for real estate increases → real
estate values increase rapidly.
  - Direct impact policies
• Policy to allow overseas Vietnamese to buy real estate in Vietnam.
• The policy allows people without city registration to buy houses in the city.
• Financial policies applied to people who are allocated or leased land by the State...
• Credit policy for investment activities in the real estate sector.
• Tax policies of the State for real estate.
When buying or selling, it is necessary to have sufficient documents to prove that the real
estate property is legal and valid such as: legal papers on land use rights, house ownership,
construction permits...
If the documents and procedures on buying and selling are not clear, it will affect the
reputation and also reduce the value of the real estate.
- Supply - Demand factors affect real estate in the area.
Characteristics of real estate market participants in the region
- Conditions of the real estate market in the region
- Current status of the vicinity (infrastructure such as roads, water supply and drainage
systems, electricity supply, communication, etc.)
- Annual GDP growth rate of the region
- The average annual income of people in the region (high, medium or low) compared to
other regions
- Ability to meet credit needs of the credit system in the region;
- Number of vacant lots and parcels in the area
- The average price of all types of land in the region
 - Tax rate and tax rate
- General level of inflation
- The situation of labor market, stock market, credit market in the region.

- Social factors affect real estate.

Social factors greatly affect the value of real estate. An area with a sudden increase in
population density due to the mechanical population growth rate, the real estate value there will
increase due to the breakdown of Supply-Demand balance.
  On the other hand, the quality of health services, education, people's intellectual level,
security issues, and local people's habits also affect the value of real estate.
Status of people living in real estate, health status, occupation and employment status,
family and social emotional relationships of people living together… Issues related to feng shui
theory.
Other factors affecting the real estate market
- Technological factors affect real estate
  In the era of technology development, the country's economy is developing, the
development of technology is inevitable, the development of technology has a significant
influence on the way of doing business, transactions, and renting in the real estate market. Along
with that is the appearance of trading floors that help promote the demand of the real estate
market and also change shopping habits and behaviors, and at the same time create favorable
conditions for information exchange and transactions. This is also a potential factor affecting the
value of real estate.
The development of technology helps businesses and investors understand clearly about
information and communication. In the enterprise, the promotion of products to the market to
customers is the communication department and the marketing staff of the enterprise.
2.3. Other influences (Domestic, international, and the business itself)
According to the World Bank (WB), the world economic situation is facing difficulties.
World macroeconomic factors, the Russia-Ukraine war, China's "Zero" Covid policy... have
directly impacted the economies of countries around the world. The war between Russia -
Ukraine has affected the politics of the two sides and affected many other countries, especially
European countries, with a gas crisis with no supply. And since then, it also affects the economy
of Vietnam, especially the adjustment of gasoline prices, the problem of the real estate market is
no exception.
However, this also creates new opportunities for Southeast Asian countries, including
Vietnam. First, it is the shift in international trade that has created new export opportunities.
Accordingly, the processing industry in many countries is tending to shift production away from
China.
 In addition, digital forwarding services help increase international trade. The diffusion of
digital technology can enhance productivity in many countries and businesses with lower
performance.
With Vietnam, the economy is developing positively and world financial institutions are still
optimistic about Vietnam's economy.
Recently, the world politics has been unstable, the socio-economic situation in the country in
general is still quite challenging. Specifically, according to the General Statistics Office, the first
quarter of 2023 recorded GDP growth of only 3.2%, equivalent to the first quarter of 2019.
Disbursement of public investment in localities is still in a state of dripping, intermittent,CPI and
inflation increased. Faced with this situation, in order to bring positive signals to the market,
from the end of the first quarter of 2023, the Government had many policies from general
economic development to untangling bottlenecks for the real estate market.
Policies can include: taxes, subsidies, infrastructure investment and planning.
- State subsidies to certain segments such as affordable housing or housing for low-income
families will boost both supply and demand, making the market more vibrant.
- Prices of real estate will increase or decrease depending on the relative increase between
supply and demand.
- For tax policies, their impact on the market and the value of real estate will be at two
different extremes. If the state taxes and uses tax money on non-real estate activities such as
subsidizing more difficult areas, it will negatively affect the real estate market, the number of
transactions will decrease.
- Real estate prices will increase, but the seller's share will be less than without tax and the
buyer will have to pay a higher price with tax.
  - Investment in infrastructure by the state has a huge impact on those properties that
directly benefit from infrastructure. Moreover, if the infrastructure is invested effectively,
stimulating economic growth will create an upward spiral or the next increasing cycle of real
estate.
Lower operating interest rates: On March 15, 2022, the State Bank announced the decision
to adjust interest rates in a downward direction, leading to the expectation that both lending rates
and deposit rates are likely to decrease, directly affecting the operation orientation of businesses
and investors.
Policies to accelerate disbursement of public investment and key infrastructure projects: In
the context of a quiet market, public investment capital and infrastructure projects, social
investment play a particularly important role, breaking the ice of the market economy and at the
same time pulling the real estate market to recover.
These are the government's policies to support businesses after the Covid-19 pandemic
On April 17, the Government approved the Ministry of Finance to submit to the National
Assembly and the National Assembly Standing Committee a plan to reduce 2% VAT.
 Housing real estate prices, land plots in 2022 continued to increase in the I-II quarters, the
third quarters slowed down, and the fourth quarters were adjusted down in some projects but not
much.
After the pandemic until now, the state has intervened in the real estate market. To solve the
problem of "price" of real estate, especially the price of land and urban areas, is high compared
to the common income of people. The State has come up with solutions to regulate that will
follow the principles of respecting market rules, decentralization and decentralization of
management. The State has enough regulatory tools when the real estate market grows too hot or
frozen, ensuring safe, healthy, sustainable market development, social security and economic
stability.
PART III. Student comments and suggestions
1. Advantages and disadvantages of enterprises in the current conditions.
Advantages
Advantages of a real estate broker:
+ Working time.
Working as a real estate broker is not bound by time. Employees can comfortably do
housework such as shopping, cooking, picking up children.... Employees do not need to be at the
office for 8 hours like other professions. Can work and transact anywhere, as long as it is
convenient for work and for customers. Fully control the time spent with your customers.
+ Not being picky about working age:
Because the working time of real estate is very flexible, this job is very suitable for many
subjects. In addition to a number of formal, well-trained and professional staff in charge of the
main tasks. The vast majority of real estate salespeople are young college students. They need a
part-time job to generate income. A large part of the housewives also encroached on the
brokerage profession to enjoy percentages and commissions from real estate transactions if they
successfully consulted brokers.
High income from consulting and brokerage profession:
Many young people choose this career as a real estate consultant because that job has
created them a fairly high income. Thanks to the discount policies, the percentage of
commissions from project investors, from customers who consign to buy and sell real estate,
their incomes are relatively stable, and their lives have also improved markedly. In particular, the
higher the value of the apartment, the larger the commission they receive. That's why, when they
catch up with the job, few people give up.
Expanding relationships:
Because they are in the consulting industry, they are able to expand their relationships with
customers. The more friends and acquaintances they have, the higher their chances of success.
 Not only that, all real estate consultants have a certain ability to endure and convince
customers....
+ Employees are recruited for important positions:
Usually very intensively trained, firmly grasp the problems that always exist in the company
to solve such as: accounting, human resources, communication, legal ...
+ Annoyances from work
Like many other professions, besides the advantages, the positive eyes always have
disadvantages. The same goes for consultants and brokers.
Difficulty
So real estate consultants often face difficulties:
+ Search for customers yourself.
To be successful in the brokerage consulting profession, you must find and build close
relationships with customers. That's not really easy for all professionals. For newcomers, it is
even more difficult.
+ Being flatly rejected by customers
For some people, when they hear about a real estate brokerage consultant, they immediately
turn off the phone, making the consultant, especially those who are new to the profession, many
times of disappointment. The reason that customers are not very sympathetic to brokers is
because there is still a large number of people who work in the style of hanging goats and selling
dog meat. That makes it difficult for true professionals unless they establish close relationships
with customers.
In addition, there may be a lot of unsatisfactory things from customers. Many customers
after consulting have agreed to go to the deposit contract, but at the last minute they cancel the
transaction, making you lose a lot of effort.
For female and young consultants, there is also the risk of being teased by male clients
without seriousness...
+ Lots of pressure from work.
Due to the comfort of working time, employees have to work on holidays and holidays.
When people are resting and relaxing, you have to personally go to customers to consult, to
convince them. Customers can be near or far depending on the object and also depending on the
projects the company undertakes, but there are different customers in different places.
+ The problem of paperwork, projects
In places where site clearance and compensation has been completed and is in the planning
decided by the state, the project will be implemented, if it is not satisfactory, the project
implementation will be difficult. Legal documents must always be clear, accurate, and in
accordance with the requirements set forth by the State.
Often, the paper is always incomplete with information and projects that are implemented
but stopped.
2. Evaluation of business results of enterprises:
Advantage:
The company is always at the forefront of updating information about real estate areas with
location, area, environment, people, the development of that real estate in terms of schools,
healthcare, shopping, and traffic.
- Always hold the knowledge and acumen in legal paperwork, helping customers feel secure
about this issue, always safe in investing and developing together, creating profitable revenue in
the future or in the immediate future.
- Thien Phu always gives itself quite favorable land plots, good in terms of value, good in
terms of spirituality.
- The amount of capital spent to invest in land plots and projects with investors is quite
small, ranging from 200-1 billion VND.
- With a fixed capital spent to specialize in investment, Thien Phu has launched more than
5000 strip products in many markets of provinces from North to South.
- The staff works very well in all stages of the company's development, in dealing and
advising clients. Create a great source of income for members and enjoy preferential
commissions on the number of successful transactions.
- Thien Phu is supported to pay according to the schedule, will be supported by the bank in
the form of installments and long-term loans.
- The investor and the cooperation of Thien Phu easily rent and resell the products by
apartment.
- The development of land in the neighborhoods and projects with the investor of Thien Phu
develop best.
Defect:
- To own a beautiful plot of land with high liquidity, Thien Phu needs a lot of capital. Cheap
land plots cannot be sold immediately, Thien Phu will be at high risk when investing with
investors, with the choice of large areas and beautiful numbers.
- With a large amount of capital spent in projects with investors, Thien Phu recovers capital
quite well compared to other companies. Because Thien Phu's investment is continuous in the
supply and demand process of products to meet the needs of customers.
 - The advertisement of the apartment is inaccurate, not guaranteed, causing customers to be
disappointed with the results received (infrastructure design, services do not meet the desired
customer needs), leading to loss of trust with customers.
- Although the sale and transaction of residential land in projects or townhouses in Thien
Phu with high prices, the transaction of residential land is always quite close from the customer
side.
3. Recommendations
Through the process of Internship, working attitude and working skills are no less important
than the professional knowledge that most students lack seriously. Therefore, hope that the
school and the faculty can organize really serious subjects or exchanges related to attitudes and
skills in working in groups and in the working environment.
Attitude is one of the important factors to evaluate a student or employee working at the
Company. Therefore, each individual like myself must know self-discipline in completing the
tasks well. Discipline is always important. Another important factor is working spirit: proactive,
energetic, eager to learn. Customers are the ones who appreciate the company's image when
problems are solved through the consulting staff to solve with customers.
Access to the internet needs to become a daily habit, but most of it is used for entertainment
purposes. The school should encourage students to go to the library, update the latest circulars
and decrees to add to the school library to create a healthy learning environment for students.
Through this internship, I find that the knowledge taught in the classroom is really not
enough even though I have been taught a lot about reality by teachers. There are many
differences between theory and reality that are very strange to me. I hope the school will create
more conditions for students to be exposed to visit or work with real work, learn about jobs
related to the profession of all students in general and students of faculties in particular so that
students can approach the business environment, visualize what they need to do.
Thank you very much for your help and comments!