Shonky Real Estate Agents

[Guest madcow]

One would have thought with all the publicity surrounding the purchasing of property in Thailand that real estate agents would be making clear to prospective buyers what the requirements are .

NOT SO !

I have in the last couple of weeks placed offers on several properties in the Pattaya region , all at well below the asking price .

All offers have been accepted , which was surprising enough , but what really blew me away was that in each instance the agent

has advised the property is held in a Company name and it will be a simple matter to transfer ownership of the property by simply becoming a Director of the Company .

I shudder to think at how many properties are still changing hands illegally , and what the consequences will be if the Government ever decides to do something about it . I really feel they may do , there seems to be a bit of a Anti-Farang drive on at the moment .

So a couple of tips to would be Real Estate buyers , make sure you do your homework before buying , agents are never on the side of the buyer , understand the law and abide by it , and secondly , bargain hard , offer what you think the property is worth , or what you can afford , you may be surprised .

Edited June 4, 2007 by madcow

[Gary A]

One would have thought with all the publicity surrounding the purchasing of property in Thailand that real estate agents would be making clear to prospective buyers what the requirements are .

NOT SO !

I have in the last couple of weeks placed offers on several properties in the Pattaya region , all at well below the asking price .

All offers have been accepted , which was surprising enough , but what really blew me away was that in each instance the agent

has advised the property is held in a Company name and it will be a simple matter to transfer ownership of the property by simply becoming a Director of the Company .

I shudder to think at how many properties are still changing hands illegally , and what the consequences will be if the Government ever decides to do something about it . I really feel they may do , there seems to be a bit of a Anti-Farang drive on at the moment .

So a couple of tips to would be Real Estate buyers , make sure you do your homework before buying , agents are never on the side of the buyer , understand the law and abide by it , and secondly , bargain hard , offer what you think the property is worth , or what you can afford , you may be surprised .

So are you going to buy the properties you made offers on?

[astral]

All offers have been accepted , which was surprising enough , but what really blew me away was that in each instance the agent

has advised the property is held in a Company name and it will be a simple matter to transfer ownership of the property by simply becoming a Director of the Company .

An eminently sensible way to do the deal.................

No tax at the amphur office.

Did you really think you were going to own the property in your own name?

Just make sure the previous owner is off the list of share holders.........

[billaaa777]

Dude, why did you post this? Just to show what a time wasting low life you are. Who do you think you’re kidding? If after going into the first real estate office you found out about the different ways condos can be owned, why did you not just ask to see condos you could own in your own name?

Let me see if I have this straight. You have gone into office after office having the agents show you five to ten condos per office, spending their entire day calling the owners setting up viewings, then driving you around to see the condos. Then you go back to the real estate agents office make offers on the condos then you back out of deal after deal. Is this the picture your painting here. And the reason your backing out of the deals is because the condos are owned in a company name, it that it?

The solution to your problem would have been just to ask the agents to show you condos you could buy in your own name, and they all would of. Instead you’re trying to act like a big shot wasting everybody’s time making offers on condos and backing out. And now you’re trying to say the agents are the reason for you not buying a condo. The agents all work on commission and would love nothing better than show you a condo you’re going to buy, so they get paid. If they knew you would not buy a condo in a company name, why in the hel_l would they ever show you one in the first place.

[endure]

Let's have less of the personal insults dood!

[billaaa777]

Ok Mtae!

[splitlid]

Ok Mtae!

glad thats sorted out chips!

[patongpanda]

Is madcow talking about condos or house and land?

[BigA]

What's a "Shonky" anyway?

I assume this is negative, I have heard of honky before and shyster too is a shonky a cross between shyster and honky?

[Guest madcow]

Dude, why did you post this? Just to show what a time wasting low life you are. Who do you think you’re kidding? If after going into the first real estate office you found out about the different ways condos can be owned, why did you not just ask to see condos you could own in your own name?

Let me see if I have this straight. You have gone into office after office having the agents show you five to ten condos per office, spending their entire day calling the owners setting up viewings, then driving you around to see the condos. Then you go back to the real estate agents office make offers on the condos then you back out of deal after deal. Is this the picture your painting here. And the reason your backing out of the deals is because the condos are owned in a company name, it that it?

The solution to your problem would have been just to ask the agents to show you condos you could buy in your own name, and they all would of. Instead you’re trying to act like a big shot wasting everybody’s time making offers on condos and backing out. And now you’re trying to say the agents are the reason for you not buying a condo. The agents all work on commission and would love nothing better than show you a condo you’re going to buy, so they get paid. If they knew you would not buy a condo in a company name, why in the hel_l would they ever show you one in the first place.

WHAT A WHACKER YOU ARE ! READ MY POST AGAIN !

I didnt mention Condos , I am talking houses . And I havent backed out of anything . I have inspected a handful of properties and will be buying them all with perhaps the exception of one .

I am merely pointing out the fact that Agents are still advising buyers to go the Company route rather than telling them what the legalities are . Not one of them bothered to ask my situation first .

Incidentally , I have my own Company , all the shareholders being members of my wifes family .

The way you have burred up I would suspect you are one of these Shonky Low Life Agents !

Edited June 5, 2007 by madcow

[Gary A]

Your post suggested that perhaps you were a time waster for the real estate agents. I'm sure you would agree that time wasters are not desirable I have very little use for real estate agents myself but I can see their point also. The last time I went to a real estate office they viewed me as a time waster and were actually quite rude. I WAS a serious buyer and did buy a condo unit but NOT from that farang agent. Another farang agent simply lied to me and he got no business either. I really have no problem with salesmen as long as they have some idea of what they are talking about. Unfortunately many of them can't tell the difference between the truth and a lie. If they can't answer a question, they make something up. There's nothing wrong with saying they don't know but that they will check and get back to me.

[quiksilva]

Unfortunately my profession is riddled with cowboys, don't be so quick to paint us all with the same brush though. We are most certainly not all 'low lifes'.

There are actually some useful agents out there who will take time to learn about your requirements, apply and share their experience and market knowledge to add value to your transaction.

Why? Well its good for referral business for one thing.

I do sympathise though, and whilst we don't operate in every market I can let you know people who I have worked with before who might be able to help.

Feel free to PM.

[dave111223]

Dude, why did you post this? Just to show what a time wasting low life you are. Who do you think you’re kidding? If after going into the first real estate office you found out about the different ways condos can be owned, why did you not just ask to see condos you could own in your own name?

Let me see if I have this straight. You have gone into office after office having the agents show you five to ten condos per office, spending their entire day calling the owners setting up viewings, then driving you around to see the condos. Then you go back to the real estate agents office make offers on the condos then you back out of deal after deal. Is this the picture your painting here. And the reason your backing out of the deals is because the condos are owned in a company name, it that it?

The solution to your problem would have been just to ask the agents to show you condos you could buy in your own name, and they all would of. Instead you’re trying to act like a big shot wasting everybody’s time making offers on condos and backing out. And now you’re trying to say the agents are the reason for you not buying a condo. The agents all work on commission and would love nothing better than show you a condo you’re going to buy, so they get paid. If they knew you would not buy a condo in a company name, why in the hel_l would they ever show you one in the first place.

WHAT A WHACKER YOU ARE ! READ MY POST AGAIN !

I didnt mention Condos , I am talking houses . And I havent backed out of anything . I have inspected a handful of properties and will be buying them all with perhaps the exception of one .

I am merely pointing out the fact that Agents are still advising buyers to go the Company route rather than telling them what the legalities are . Not one of them bothered to ask my situation first .

Incidentally , I have my own Company , all the shareholders being members of my wifes family .

The way you have burred up I would suspect you are one of these Shonky Low Life Agents !

How else would you plan on buying a house without it being in a companies name or Thai family members name?

And if you told the agent you were married i'm sure they would have suggested the Wife instead of company option?

What do you expect the agent to say when a foreigner walks in "Sorry mate! No land for you!"

[dsfbrit]

I am on your side Madcow. These Estate Agents are selling potential misery and uncertainty to unsuspecting Farangs.

Lets not revisit the Foreign Business Act issue in depth, but anyone with access to TV and some honest Real Estate articles knows the true situation with these companies.

Sadly there are still unsuspecting people out there who are still reading the wrong articles!

Anyone out there pushing the company route as 'normal' practise deserves no sympathy for you wasting their time (an act it appears you were not guilty of).

However you have given me a good idea - I might go and waste some of these characters time myself!!

I may even start up a website called 'letswastetimeofconmen.com' - then maybe they wont have so much time available to rip-off the gullible!!

[Asianrider]

I don't think its a Thai problem but i find Real Estate agents distasteful and insincere everywhere i travel or do business. Making the sale is always more important than helping their customers or building long-term relationships.

I see some websites advertising re-sales of VT6 units in Pattaya under foreign ownership !! Sounds good doesn't it BUT the chenods won't be prepared by the land office for maybe another 6 months yet, and it is just a lottery which 49% get allocated to buyers !!!

You know when you step out on your driveway early in the morning and you hear a crunching sound-you've trodden on a slug-that's where i put most property agents, as slime under my shoes.

[sukanyacondo]

Unfortunately my profession is riddled with cowboys, don't be so quick to paint us all with the same brush though. We are most certainly not all 'low lifes'.

There are actually some useful agents out there who will take time to learn about your requirements, apply and share their experience and market knowledge to add value to your transaction.

Why? Well its good for referral business for one thing.

I do sympathise though, and whilst we don't operate in every market I can let you know people who I have worked with before who might be able to help.

Feel free to PM.

Yes I have found plenty of cowboys in real estate or condo agents, Thai and Farang often steal photos off my website and our descriptions and even our name "sukanya condos" of course when you ring them up its all a big mistake!!!!!!

This weeks "cowboy" is siamstate.com stole 4 pics off our website via mr roomfinder and was so dumb even left the logos on!!

My wife will be arranging a viewing of "his" condos soon befiore ripping into him.

[Ungabunga]

I don't think its a Thai problem but i find Real Estate agents distasteful and insincere everywhere i travel or do business. Making the sale is always more important than helping their customers or building long-term relationships.

I see some websites advertising re-sales of VT6 units in Pattaya under foreign ownership !! Sounds good doesn't it BUT the chenods won't be prepared by the land office for maybe another 6 months yet, and it is just a lottery which 49% get allocated to buyers !!!

You know when you step out on your driveway early in the morning and you hear a crunching sound-you've trodden on a slug-that's where i put most property agents, as slime under my shoes.

you're a nob.

[macone]

Is it true that anyone can be a Real Estate Agent in Thailand? I have read that there is no License or Education required? Is this a good occupation for used car salesman thinking of relocating to Thailand to consider?

[quiksilva]

Unfortunately it is true that there is no licensing required.

However you will find it difficult to land a job with the leading firms with no formal real estate background / education though.

Edited June 8, 2007 by quiksilva

[stevejones123]

Making the sale is always more important than helping their customers or building long-term relationships.

What kind of long-term relationship is a real-estate agent going to have with the typical buyer? The guy will buy the house and go and live there for years. When he wants to move it's probable the real estate agent won't be doing business.

[southwest19]

Is it true that anyone can be a Real Estate Agent in Thailand? I have read that there is no License or Education required? Is this a good occupation for used car salesman thinking of relocating to Thailand to consider?

Looking at your missuse of capitals a decent education is something that you obviously missed out on maybe you have found your vocation in life.