What is the average commission for a real estate agent here?

[banagan]

When they sell a property, what is their commission? I'm thinking, 5 - 10%?

Edited July 10, 2021 by banagan

[Pravda]

No. It is 3%

[Whale]

as Pravda said... 3% (plus VAT on the 3% if a big company). Seller will also be liable for sales tax on top of that to be paid to government.

[OneMoreFarang]

And what is the commission for (I don't know how to call them) like a hairdresser in the building with pictures of units who connect buyers and sellers.

Or are they also considered to be real estate agents? 

[JWRC]

1 minute ago, OneMoreFarang said:

And what is the commission for (I don't know how to call them) like a hairdresser in the building with pictures of units who connect buyers and sellers.

Or are they also considered to be real estate agents? 

Private sales people is what they are classed as usually earn between 3% and 5% or a fee by negotiation. Usually a lower priced property will pay the 5% and a higher priced then 3%, I've seen a number of sales where the commission was so much per Rai regardless of sale price.

[Airalee]

The whole commission structure here is quite convoluted.  Not only is there sometimes a percentage of sales price to be considered, but also the fact that sometimes an agent will list a property above the price agreed upon between seller and agent with the excess (if realized) going to the agent.

[Dazinoz]

A little off topic but talking to the husband of a Thai agent that rented the house I am in gets the first months rent then nothing from then on. I have been here over 3 years so comes to very little commission considering I still call upon them when things go wrong at the house and they have to prepare new contract every year.

[1FinickyOne]

17 hours ago, OneMoreFarang said:

And what is the commission for (I don't know how to call them) like a hairdresser in the building with pictures of units who connect buyers and sellers.

Or are they also considered to be real estate agents? 

10,000 baht

[banagan]

17 hours ago, Airalee said:

The whole commission structure here is quite convoluted.  Not only is there sometimes a percentage of sales price to be considered, but also the fact that sometimes an agent will list a property above the price agreed upon between seller and agent with the excess (if realized) going to the agent.

I think you're on to something. Condo in my building for sale, 1mil, was looking at other properties, chatting with an agent, they mentioned this one, not listed yet.

 

Asked how much, 1.7mil! Ha ha.... so either the owner is deluded, the floor space grew 70%, they installed gold taps, or the agent is having a laugh.

 

 

[worgeordie]

They charge 3 % for property sales and 1 months for rental,dont pay more,

and don't let them talk you into an exclusive contract, as you have just as

much chance of a local bringing you a buyer,renter, if you let the locals know

property is for sale or rent, like a sign on gate or nearby lamppost, good luck

regards Worgeordie

 

[Denim]

3-5 %  and a total waste of money in my experience. They do nothing you can't do yourself and charge a murder for it.

 

Selling our two properties in Bangkok I advertised widely on dedicated internet sites :

 

( https://www.ddproperty.com/en to name but one )

 

From all these free listings I gleaned only a couple of half interested calls from buyers and about 20 from agents offering to do what I had already done.

 

Most residential property here seems to get sold by simply putting a for sale sign up outside your place and a contact number. People will see this and tell there friends hoping to get a small commision from you for introducing you to a buyer. You only pay if the sale goes through. I paid 5000 baht to a neighbor for introducing a buyer on a sale of a 850,000 baht property.

 

The second sale we were contacted direct by several people who saw the sign outside and we paid nobody anything for the 2 million sale.

[golfpro47]

When I Sold my last Home I contacted a number of Real Estate Agents and overall there were lots of Agents obviously a number of them were Advertising the same Properties,the average charge in Commission was6-7%.

Wasnt to happy with the ones who came to my Home and I was talking to a friend about it,he told me he would develope a website for me and put it online which he did and he charged me 5,000baht.

 It had only been online for 2 days and had my first enquiry,in the next 2-3 weeks I had a number of positive enquiries,when I eventually Sold it I had 4 couples all trying to buy it so my 5,000baht Investment worked well for me.

[OneMoreFarang]

1 hour ago, banagan said:

I think you're on to something. Condo in my building for sale, 1mil, was looking at other properties, chatting with an agent, they mentioned this one, not listed yet.

 

Asked how much, 1.7mil! Ha ha.... so either the owner is deluded, the floor space grew 70%, they installed gold taps, or the agent is having a laugh.

That reminds me of shorts I bought on Sukhumvit on my first trip to Thailand. The street shop owner quoted 500B. I was smart and pushed him down to only 350B, what a great deal!  In the hindsight I am sure 200B would still have been too much. But I was happy that I got 30% discount.

I am sure many people think they get a good deal if with anything if they are able to get a huge discount - even when the original price was way too high.

[Denim]

14 minutes ago, OneMoreFarang said:

That reminds me of shorts I bought on Sukhumvit on my first trip to Thailand. The street shop owner quoted 500B. I was smart and pushed him down to only 350B, what a great deal!  In the hindsight I am sure 200B would still have been too much. But I was happy that I got 30% discount.

I am sure many people think they get a good deal if with anything if they are able to get a huge discount - even when the original price was way too high.

 

This is like the jewelry shops that line both sides of Hatton Garden in London.

 

My Filipino girlfriend got me to take her there as she wanted a diamond ring  ( stifled laugh ). In the windows of these ' jewelers ' you could see tray after tray of rings and earing on display . Typically , above each trinket the price would be displayed. There would be the ' original ' price of 1200 pounds with a line through it and the ' promotion ' price of 600 pounds.

 

She nearly wet herself at the thought of the massive saving.  Took me a long time over coffee to make her see what a deception was being practiced , and even then , she still wanted a diamond ring.

 

Went home without one and I also had to do without.

[greenmonkey]

1 hour ago, golfpro47 said:

When I Sold my last Home I contacted a number of Real Estate Agents and overall there were lots of Agents obviously a number of them were Advertising the same Properties,the average charge in Commission was6-7%.

Wasnt to happy with the ones who came to my Home and I was talking to a friend about it,he told me he would develope a website for me and put it online which he did and he charged me 5,000baht.

 It had only been online for 2 days and had my first enquiry,in the next 2-3 weeks I had a number of positive enquiries,when I eventually Sold it I had 4 couples all trying to buy it so my 5,000baht Investment worked well for me.

what was the website address?

[Dazinoz]

If you were to have been stupid enough, like me, and invested in a Fractional Ownership of a resort owned by the Absolute Group in Phuket and then decided to sell your fraction through Absolute, the company that sold the fraction and listed it for you only charges a measly 25% (yes twenty five percent) for the privilege of doing so even though you had invested ( and I use that term extremely loosely) in their company.

 

Not a Thai company but basically British based.

[bert bloggs]

When my wife was an agent her company charged 5% did very good business ,she worked on commision only 50/ 50 some months made very little some months made more than many Thais earn in a year,i always thought the fees were high ,but i wasnt complaining lol

[bbabythai]

2 hours ago, Denim said:

3-5 %  and a total waste of money in my experience. They do nothing you can't do yourself and charge a murder for it.

 

Selling our two properties in Bangkok I advertised widely on dedicated internet sites :

 

( https://www.ddproperty.com/en to name but one )

 

From all these free listings I gleaned only a couple of half interested calls from buyers and about 20 from agents offering to do what I had already done.

 

Most residential property here seems to get sold by simply putting a for sale sign up outside your place and a contact number. People will see this and tell there friends hoping to get a small commision from you for introducing you to a buyer. You only pay if the sale goes through. I paid 5000 baht to a neighbor for introducing a buyer on a sale of a 850,000 baht property.

 

The second sale we were contacted direct by several people who saw the sign outside and we paid nobody anything for the 2 million sale.

This is the only way people sell in my area. No real estate agents here in nakhon nowhere

[head bender]

5% on houses 3% on land

[Grusa]

22 hours ago, JWRC said:

Private sales people is what they are classed as usually earn between 3% and 5% or a fee by negotiation. Usually a lower priced property will pay the 5% and a higher priced then 3%, I've seen a number of sales where the commission was so much per Rai regardless of sale price.

The JPM at our place takes up to 25%, or more if he can get it! One pad he has sold twice in 5 years and made a million each time - and neither the sellers nor the buyers realise it!

He also takes a huge commission on Lettings, and has been known to let out a properties without the owners consent or knowledge. But, he claims to be poor and honest.

[Albert Zweistein]

2 hours ago, Dazinoz said:

If you were to have been stupid enough, like me, and invested in a Fractional Ownership of a resort owned by the Absolute Group in Phuket and then decided to sell your fraction through Absolute, the company that sold the fraction and listed it for you only charges a measly 25% (yes twenty five percent) for the privilege of doing so even though you had invested ( and I use that term extremely loosely) in their company.

 

Not a Thai company but basically British based.

Absolute = Absocrook, Absolutely !

[golfpro47]

3 hours ago, greenmonkey said:

what was the website address?

The website was developed by my friend just for me it wasn’t a website for further Sales

[Dazinoz]

26 minutes ago, Albert Zweistein said:

Absolute = Absocrook, Absolutely !

100%. Unfortunately I realised too late.

[kynikoi]

4 hours ago, OneMoreFarang said:

That reminds me of shorts I bought on Sukhumvit on my first trip to Thailand. The street shop owner quoted 500B. I was smart and pushed him down to only 350B, what a great deal!  In the hindsight I am sure 200B would still have been too much. But I was happy that I got 30% discount.

I am sure many people think they get a good deal if with anything if they are able to get a huge discount - even when the original price was way too high.

On that sort of stuff offer 75-65% less of the ask. Come up to 65-50% as you see fit. It sounds crazy but if you think about it there's an unlimited supply of shorts or wooden elephants or boxes of Viagra whatever...

 

Not only can they easily resupply endlessly but you can go next door and try the same stunt again and again and again. Whorz's market.

[OneMoreFarang]

23 minutes ago, kynikoi said:

On that sort of stuff offer 75-65% less of the ask. Come up to 65-50% as you see fit. It sounds crazy but if you think about it there's an unlimited supply of shorts or wooden elephants or boxes of Viagra whatever...

 

Not only can they easily resupply endlessly but you can go next door and try the same stunt again and again and again. Whorz's market.

I like to see it like this: I spend maybe 200B to learn something important in Thailand.

And better I learned it with 30% discount on shorts instead of 30% or even 10% discount on property prices.