Breaking Up With a Real Estate Agency

[SoonOh]

In an Exclusive one year listing contract agency agreed to maintain exterior grounds and show property to all potential buyers. 

They do not maintain grands as promised and always have an excuse not to show property that is located about 25km from office. 

Your positive advice or suggestions will be much appreciated and welcomed

[Puchaiyank]

Most of my experiences with realtors have been positive, however, two bad experiences remain etched in my mind.

 

1. Left rental property in hands of realtor as I had accepted a job in another city...rental checks stopped coming in...realtor was pocketing checks...

 

2.  Realtor agreement to sale home...company insisted on asking much more than I felt home would bring in housing market.  Many people came by to see home...other homes were selling in my neighborhood...did some checking...they were using my over-priced home to sell more reasonable priced homes...fired realtors...put sign out "For Sale By Owner"...reduced price by amount realtor would have received...sold in 2 weeks...    ????

Edited May 15, 2019 by Puchaiyank

[ezzra]

You should compile a registered letter addressed to the head of realtor office whereby to list all the shortfalls and grievances you have with their service and attitude and put them on notice to do better or you will cancel the contract, give them some time to try to do better, if still unhappy, notify them of the contract's termination forthwith in a register letter...

[theoldgit]

This is in the totally wrong forum, it has nothing to do with visas, I’ll move it to a more appropriate one.


Sent from my iPhone using Thaivisa Connect

[watcharacters]

8 hours ago, Puchaiyank said:

reduced price by amount realtor would have received...sold in 2 weeks...    ????

 

Is there a set percentage or fixed amount  given to the selling agency?

 

 

[scorecard]

7 hours ago, ezzra said:

You should compile a registered letter addressed to the head of realtor office whereby to list all the shortfalls and grievances you have with their service and attitude and put them on notice to do better or you will cancel the contract, give them some time to try to do better, if still unhappy, notify them of the contract's termination forthwith in a register letter...

But recheck the original contract, it might have a clause like:

 

- If another agency / person sells the property the original selling agency is also entitled to a selling commission, and even more, it not have an end date. Beware. 

 

My neighbor ran into this a few years back, so he hand delivered a letter to the agency involved telling them he was withdrawing his property from their books that same day and demanded they make a written note of his copy that they had received his letter and dated.

 

Plus another document which he demanded they sign and date to the effect that from same day the agency confirmed they were not entitled to any payments from the seller for any item including future selling commissions, regardless of who actually sold the property (or words to that effect). 

 

 

[Puchaiyank]

10 minutes ago, watcharacters said:

 

Is there a set percentage or fixed amount  given to the selling agency?

 

 

Yes, but they may not all be the same...just ask...they will tell you...seems like 6-10% was the going rate a few years ago...

 

Be careful to check all calculations...I took my calculator to a signing..."discovered a 100000 baht "mistake"...didn't even get an apology...lol

[KittenKong]

17 hours ago, watcharacters said:

 

Is there a set percentage or fixed amount  given to the selling agency?

All commission rates are 100% negotiable. Many agencies will try and make you think that there is a fixed rate but it isnt true. Quoted rates are usually around 3-5%.

 

But it is quite common here for a vendor to say "I want 3MB for my condo" and then for the agency to list it at, say, 3.5MB or 4MB for no valid reason.

[alacrity]

14 hours ago, KittenKong said:

All commission rates are 100% negotiable. Many agencies will try and make you think that there is a fixed rate but it isnt true. Quoted rates are usually around 3-5%.

 

But it is quite common here for a vendor to say "I want 3MB for my condo" and then for the agency to list it at, say, 3.5MB or 4MB for no valid reason.

The valid reason could well be that the agent is over-valuing your property in order to make other properties more attractive. Failing to maintain your property could well indicate this but I'm assuming if you're aware of this you must be here. Don't be reliant on hearsay.

Western styled codes mean nothing here.

Unless you're committed to the agent being a sole proprietor of any transaction, add more agents to your portfolio but check referrals first. You may be recommitting to the same agent many times.

If you're resident try the Thai networks. Over the past two years we've easily sold some properties that we wanted to realize. Which was always our objective.

[KittenKong]

21 minutes ago, alacrity said:

The valid reason could well be that the agent is over-valuing your property in order to make other properties more attractive.

That could certainly be one reason but I would not call it a valid one.

[alacrity]

5 minutes ago, KittenKong said:

That could certainly be one reason but I would not call it a valid one.

Valid to an agent though. Nothing personal but it's business.

[watcharacters]

On 5/16/2019 at 1:27 PM, Puchaiyank said:

On 5/16/2019 at 1:13 PM, watcharacters said:

 

Is there a set percentage or fixed amount  given to the selling agency?

 

 

Yes, but they may not all be the same...just ask...they will tell you...seems like 6-10% was the going rate a few years ago...

 

Be careful to check all calculations...I took my calculator to a signing..."discovered a 100000 baht "mistake"...didn't even get an apology...lol

 

 

Thanks for the reply.     I've been told a problem with realtor fees is if it's percentage based,  an issue arises at the land office when it comes to reporting the  actual house selling price.     The seller often wants to report a lower price in order   to lower  transaction fees or taxes.

 

I don't speak from experience as I've never bought a house in Thailand.