With an old trailer like that I would actually look underneath to see if it still really has brakes.
But yes, a 7 pin means it's supposed to have them. You will need a controller they are easy to hook up. Just 4 wires, harnesses are available for most modern vehicles. You'll also need to hook up a 12v charge line back to the trailer to keep it's battery charged from your tow vehicle.
DO NOT get a timer based break controller. Do they work? Yes. Are momentum controllers much, much smoother? Yes.
I have a Tekonsha Primus which I think is toward the bottom of their line. It is 10 times better than the timer based unit it replaced. I can only imagine how good the upper end products are.
