Thailand Real Estate

[SoSoCNX]

If you sold your property within last year, please reply. 

How long did it take your property to sell?

Have you used Thai or Expat sales person?

Helpful replays would be appreciated. 

Thanks  

 

[CharlieH]

MOVED to Real Estate forum.

[Kwasaki]

9 minutes ago, SoSoCNX said:

If you sold your property within last year, please reply. 

In our experience we have noticed it is very difficult sell property in Thailand it's really down to luck IMHO.

We used 3 places to advertise house, studio apartments & land. 

Had no replied except from agent people wanted 5% selling commission which we agreed too the following is one.

https://www.fazwaz.com/sell-your-property-in-thailand/view

 

Obviously where the property is located should be a good thing but is not always beneficial.

We sold a piece land by putting a sign out by the main road and it was from word of mouth of local people that made the sale possible.

Even renting at cheap monthly rents it is still difficult to get tenants.  

[yankee99]

Sold 2 condos in the last 3 years both sold in less than 2 weeks. Used a agent located in the condo building. 

[legend49]

Agree with Kwasaki above. We bought our current house from a French guy who had tried to sell for just over 5 years each year the price came down. Cant change Thai mentality on buying second hand houses; however there are two houses next to us that were empty for over 10 years and run down. Two Thai families ( builders I suspect) bought and carried out huge makeovers ( swimming pools etc) before moving in. The word I get from other farangs is find a good realty agent that has farang management involved you have a better chance selling. Thai realty places just list the property in the window there is no energy in pushing a sale.

[Fore Man]

Sold our large estate home in Mae Rim by ourselves...snapped up in 30-days by a wealthy Chinese buyer.  We had a sign professionally made and had several would-be agents express interest, but in the end the house sold itself.  

[helloagain]

2 minutes ago, legend49 said:

Agree with Kwasaki above. We bought our current house from a French guy who had tried to sell for just over 5 years each year the price came down. Cant change Thai mentality on buying second hand houses; however there are two houses next to us that were empty for over 10 years and run down. Two Thai families ( builders I suspect) bought and carried out huge makeovers ( swimming pools etc) before moving in. The word I get from other farangs is find a good realty agent that has farang management involved you have a better chance selling. Thai realty places just list the property in the window there is no energy in pushing a sale.

No engery as you say from forieng large agencies. When they do bring somebody to your property they say nothing, absolutely nothing. 

[RoadWarrior371]

Sold 2 Rai near Jomtien late last year.  Listed locally in papers, word of mouth.  No real estate agent.  Listed for 60 days prior to sale.  Quite a few showings.

[1FinickyOne]

34 minutes ago, helloagain said:

When they do bring somebody to your property they say nothing, absolutely nothing. 

This seems to be the style and I prefer it... the owners are always there and they do the showing, the agent brings you to the house. If you have questions after, they find the answers. i got tired of the Western Style agents in my home country... "OH!! Would you look at this kitchen!!" 

 

OP - I was looking for quite a while in CM area and some agents are surely better and more actively concerned than others, regardless of nationality... the market is flooded with homes and due to no available records it is difficult to determine a fair price. As you probably know, land appreciates, houses depreciate... Thai usually don't care if they sell and I thought most farang over value their properties. Though some do sell and relatively quickly, others seem to be on the market forever. Maybe the positive thing for a seller is that they can list with multiple agents, there are no exclusives. If you want some recommendations, feel free to PM me... 

[canda]

58 minutes ago, legend49 said:

Agree with Kwasaki above. We bought our current house from a French guy who had tried to sell for just over 5 years each year the price came down. Cant change Thai mentality on buying second hand houses; however there are two houses next to us that were empty for over 10 years and run down. Two Thai families ( builders I suspect) bought and carried out huge makeovers ( swimming pools etc) before moving in. The word I get from other farangs is find a good realty agent that has farang management involved you have a better chance selling. Thai realty places just list the property in the window there is no energy in pushing a sale.

We sold 2 villas, in Phuket (in different small boutique estates) our large single level pool villa took approximately 6 weeks to sell & our multi level pool villa about 2 months. Sold through a large r/estate company, we priced both above average market value & both foreign buyers made offers above our expectations, 

Bare in mind these weren't average, nor mooban style villas, they were purpose built to our architects specifications using western standards.

CANDA.

[newnative]

     We just sold our little Bangkok getaway condo a couple weeks ago. Bought it off plan from a large builder with a good reputation and we closed on it last November.  Remodeled it quite a bit, furnished it nicely, and put it on the market when we decided we liked our getaways to Bangkok and we want something a bit bigger--this condo was just a 24 sqm studio.

     It sold faster than we thought it would, after only about a week or so, to a Chinese buyer with an agent who heard about the condo from the condo staff. We hadn't gotten around to listing it with any agencies when it sold.  Only made 282,000 baht profit on the sale but that's ok--it was a small condo with a not very good view and it served its purpose to show us we'll like having a getaway condo in Bangkok. 

      With selling condos, we've found that some will sell quickly and some will take time.  Sometimes there is some luck involved with the quick sales.  Patience is needed. It's important to always have your condo neat and clean, everything repaired, clutter-free, and ready to show with not much notice.  We always try to sell ourselves but most of our sales have come through agents bringing clients.

[ThomasThBKK]

1 hour ago, canda said:

We sold 2 villas, in Phuket (in different small boutique estates) our large single level pool villa took approximately 6 weeks to sell & our multi level pool villa about 2 months. Sold through a large r/estate company, we priced both above average market value & both foreign buyers made offers above our expectations, 

Bare in mind these weren't average, nor mooban style villas, they were purpose built to our architects specifications using western standards.

CANDA.

 

This is the key point, nice architecture and thought out houses/villas made in good quality will sell easily in good locations. These also don't go down in value like shit quality houses as it gets more and more expensive to build quality here - experienced real estate buyers know all of this.

Penthouses in Bangkok are the same, easy to sell - because they are special. They are not one of 400 condos in a condo block. There's only 1 or 2 per Condobuilding.

The average mooban house won't.

[crazykopite]

I am about to put my beach front villa up for sale I hope that I can sell within a year to 15 months I am not using any agents as I managed to sell my last property on my own problem is the islands are very quiet at the moment.

[Suradit69]

Sold a condo in literally 15 minutes. Had been thinking about it for a month or so. Once I decided to go ahead, I offered to the Thai neighbor from whom I bought the condo 19 years ago. She made a reasonable offer and gave me three hundred thousand deposit so I could put an addition onto a house I have east of Sukhumvit and gave me a few months to complete the construction work before I handed over the condo keys and she paid the balance due.

 

No agent. No lawyer.  The same as when I bought the condo from her. We've been on good terms nearly 20 years. Everything completed as agreed. No issues or surprises either when I bought from or resold to her.

[thescot]

Sold a 4 bed house on 1 rai of land on the outskirts of Pattaya last year. Listed eventually with 5 agents. Sold via the most well known and foreign owned agent. Took over 1 year to sell and a large discount on original price. 

[bkk6060]

Seems like a question missing 95 percent of what is important.

Sure, you can sell it in one day if you want but what was the price compared to any comps?  And, what were the terms?

I have a friend in RE works mostly in Jomtien.  She said it is very slow. But, if one does sell usually there is a carry back by the owner.  Maybe 30 percent down then the owner carries a loan for the rest sometimes interest free for up to ten years.  Very attractive especially if the price is listed to sell.

Most people sit on their places for many months stubborn that it is worth more than it is.

 

One other thing.  A smart agent/buyer will take into consideration the strong baht so if you are looking to "break even" on that condo you bought a few years ago suck it up for lower offers.

[Lacessit]

22 minutes ago, Suradit69 said:

Sold a condo in literally 15 minutes. Had been thinking about it for a month or so. Once I decided to go ahead, I offered to the Thai neighbor from whom I bought the condo 19 years ago. She made a reasonable offer and gave me three hundred thousand deposit so I could put an addition onto a house I have east of Sukhumvit and gave me a few months to complete the construction work before I handed over the condo keys and she paid the balance due.

 

No agent. No lawyer.  The same as when I bought the condo from her. We've been on good terms nearly 20 years. Everything completed as agreed. No issues or surprises either when I bought from or resold to her.

IMO your experience is definitely an outlier in Thai real estate. Your good fortune; however, how is it relevant to the OP? You did state no agents or lawyers involved.

[Destiny1990]

All my friends are saying that Selling takes years some sales happen but with 30%-40% discounts from original purchase price. finding long term tenants is nowadays hard too.

Don't trust these unfounded stories here of folks selling within 2 weeks bla bla bla.

 

[madmen]

Just now, Destiny1990 said:

All my friends are saying that Selling takes years some sales happen but with 30%-40% discounts from original purchase price. finding long term tenants is nowadays hard too.

Don't trust these unfounded stories here of folks selling within 2 weeks bla bla bla.

 

So if its sold twice its 60 to 80 % loss and 3 times = a six pack of leo ?

 

You have any idea how idiotic your bar stool analysis is ????????

[Destiny1990]

44 minutes ago, madmen said:

So if its sold twice its 60 to 80 % loss and 3 times = a six pack of leo ?

 

You have any idea how idiotic your bar stool analysis is ????????

Well for me i never buy any of your fake phantasy stories here..

 

[Kurtf]

I’ve had my 4 bedroom 3 1/2 bath fully furnished home on 2+ rail for sale for more than five years. I’ve listed it it’s four brokers and in that entire time, I haven’t had one broker bring by a prospective buyer and the only people who stopped by to look at it were those that were driving by and saw the sign we had stuck in the ground at the beginning of our driveway. Probably a total of 7 in five years. And NONE made a reasonable offer or a counter offer to what I am asking.

[alacrity]

Doubt you're getting answers which fit your paradigm and I concur with most of the previous responses. Over the past 3 years we have rationalized our Thai assets and have never used a registered agent. The transaction for selling our latest property took 12 working days. 8 of those days were related to mortgage approval from the buyers bank. We were approached within 6 hours of deciding to sell.

[blackcab]

Consider this approach: List the property online yourself. If it doesn't sell after a month, relist it with the price reduced by 10 per cent. If it doesn't sell after another month, relist it with the price reduced by another 10 per cent. Repeat until you start to get offers.

 

You don't have to sell, but it will show you what buyers are prepared to pay. That price, some would say, is the true value of the property.

[alacrity]

OP's obviously an agent scavenging for ideas to tout properties.

[SoSoCNX]

I am not an agent/sale person. Since Thailand does not have any real estate licensing requirements all "agents" are just an opportunistic sale people. 

Paying 3% or more commission is out of the question. 

So the only option I see is facebook groups, expat classifieds and a bit off luck. 

Jut looking for good marketing ideas and owners sale experience.

Thank you all

 

 

[alacrity]

12 hours ago, SoSoCNX said:

I am not an agent/sale person. Since Thailand does not have any real estate licensing requirements all "agents" are just an opportunistic sale people. 

Paying 3% or more commission is out of the question. 

So the only option I see is facebook groups, expat classifieds and a bit off luck. 

Jut looking for good marketing ideas and owners sale experience.

Thank you all

 

 

The asking rate nowadays has risen to 5% for some reason and been there for a while. We've never paid that. However, 3% is still the norm. That's irrespective of who the acting agent is.

Driving the sale yourself is a good option if you're not desperate to sell. However, you'll probably find an entrepreneur that manages to impose themselves into the transaction. And they'll ask for they're commission. 

The right person tends to come along, eventually and I regard that to be a lucky event.

If time is on your side, you should be lucky.

[SoSoCNX]

SOLD Bangkok condo to Chinese lady. She paid my price (Not Overpriced) without haggling. 

[YT3k72Em]

4 hours ago, SoSoCNX said:

SOLD Bangkok condo to Chinese lady. She paid my price (Not Overpriced) without haggling. 

Can you tell us which channels you advertised it through and which one the buyer found you through.

[SoSoCNX]

1 hour ago, YT3k72Em said:

Can you tell us which channels you advertised it through and which one the buyer found you through.

 My  facebook.com/marketplace/bangkok/propertyforsale/

ad sold it. I reposed the same ad every Monday morning. I also had ads on many fbook groups.

No agents, No Commission just best price in and around the condo. 

Good Luck