An Experience With Cbre Thailand

[gilo25]

I wanted to share with this forum a disturbing experience I recently had with CBRE's office in Bangkok.

If any of you would like to have all the details I will be happy to provide them. However for this forum it should suffice to mention the following.

At the end of last year I gave CBRE the mandate to sell a newly completed unit I had bought in pre-sale in a new development in central Bangkok and for which the title transfer in my name had not been yet effected.

After a couple of months, they introduced me a buyer, who, after paying a 10% deposit, refused to complete the purchase. First he claimed that the unit had a crack in the wall (it was actually a very insignificant defect which was fixed immediately by the developer), while later he claimed he was sick and therefore unable to complete the purchase. At the end it came out he had just changed his mind and wanted a discount on the price he himself had agreed on.

Despite the fact that I had the right, based on the offer letter, to terminate the contract and confiscate the deposit 30 days after the offer letter's date in case the buyer failed to pay the balance by then, CBRE insisted that I wait for this buyer to make up his mind. The whole thing dragged on for 6 months, during which CBRE never introduced me any other buyer, while it also failed to communicate to the developer the troubles I was having with the sale (by the way, CBRE was also the agent who had brokered my purchase of the unit so it would have been easy for them to just liaise with the developer and explain to them the situation caused by their client). Instead, last June I had to rush to Bangkok (I live in another Asian country) to negotiate with the developer a delayed date of transfer and conduct the second inspection of the unit, which in theory should have been done months earlier by the buyer.

When, at the end of June, I finally managed to impose my decision to officially terminate the offer letter of the buyer, CBRE claimed it gave my termination letter to the buyer, but unfortunately (as I discovered later on) they never secured a receipt from him. Also, they continued to try and convince the buyer to finalize the purchase, while I had given them clear instructions to focus on other buyers, since the offer letter of the first buyer had been already officially terminated. At the end, CBRE twisted my arm by saying that the only way I could sell the unit was by lowering the price of about 3% (compared to the originally formally agreed price) to entice the reticent buyer to conclude the purchase. I told them I could consider doing it only as a last resort, in order to avoid having to put the unit in my name. I also asked them, in that case, to half their commission to compensate me for my loss and the months of wait; they only agreed to go from 3 to 2%. I requested them to continue to market the property at a lower price (in fact, in any case, I was entitled to keep the deposit of the previous buyer) and I reiterated that I was under no obligation with that buyer any more; as a matter of fact I had drafted a letter to him in this sense, which CBRE told me not to send. I also confirmed to them that I would conclude with the first person who would effect the payment: no obligation towards their buyer.

Nothing significant happened for a few weeks, while the buyer (according to CBRE) just kept playing hide and seek. Around mid August, another broker came up with a firm offer from another client. When I informed CBRE that I was going to go for it, they asked me to put it on hold and grant the old buyer another week to finalize the purchase; they even had the guts to tell me that they had put another buyer of theirs on hold while waiting for the first one to finalize based on the lowered price. I was appalled that they had not told me anything about the fact that they had another buyer, and that they had put him on hold without telling me! When I told them that I was not willing to wait, the balance of the first buyer materialized in a matter of hours, after 8 months of wait. I had no choice but to accept it (and reject the other buyer), because my lawyer advised me that I would have been in a weak position in case the old buyer would bring me to court to get back his deposit, thanks to the fact that CBRE had never secured a receipt for the termination letter I sent to the buyer and because they kept signifying to him an openness to conclude with him, despite my termination letter and despite my instructions. It was then clear that, all along, CBRE, for some reason, had backed the first and only buyer they introduced me, despite his dodgy behavior for 8 months, and they deliberately refrained from putting me in touch with any other potential client, trying to make sure that the first buyer would not lose his deposit.

When I asked them to write off their commission because of the losses I had incurred in view of their behavior, the negotiator gave me a categorical no. Their managing director never answered my calls.

I ended up writing to their global President and to their CEO for Asia to seek redress and all I got was an email from the Bangkok office's managing director putting forward some lame apologies. When I asked her to be more concrete and scrap their commission in view of their shortcomings, I was told basically to get lost. Not a word from their CEOs.

If you want more details feel free to email me privately. There is in fact more to it, but basically this is the gist of this not so nice experience.

Edited September 20, 2008 by gilo25

[jitagon]

oh God, what are you ranting about? You had another offer by another broker and you turned it down, probably because the second offer wasn't as much. All this talk about the first agent 'insisting', they were in your employ, acting for you, they cannot insist on anything. Shut up. You lost out.

[gilo25]

oh God, what are you ranting about? You had another offer by another broker and you turned it down, probably because the second offer wasn't as much. All this talk about the first agent 'insisting', they were in your employ, acting for you, they cannot insist on anything. Shut up. You lost out.

[gilo25]

oh God, what are you ranting about? You had another offer by another broker and you turned it down, probably because the second offer wasn't as much. All this talk about the first agent 'insisting', they were in your employ, acting for you, they cannot insist on anything. Shut up. You lost out.

Maybe I wasn't clear: I did not turn down the other offer! I couldn't accept it because the money of the previous buyer came just hours before I could conclude with the second one, after 8 months of wait when the first agent understood that I was going to go for it. and yes, they were in my employ, but they were doing things without me knowing.

[PattayaParent]

Your post was very clear.

Maybe jitagon works for CBRE?

[Lil_Jon]

have done few transactions with CBRE ( buying and renting) , has been a smooth sail for me so far......

[thaigene2]

It doesn't surprise me actually. A big international name doesn't mean squat here. You have little or no legal protection and most would never be in a financial position to take on a company in civil court for breach of contract or suspicious dealings by its staff.

The newspapers here quite regularly have adverts from medium to large companies with the photo of a 'former' employer that states something like:

"Ms. Supaporn Suabchangmuangsuawong no longer represents Krungthep Pruuchngchivit Co. Ltd. The Company will not recognize any transactions or promises made by Ms. Supaporn to clients or others....etc, etc.

This is Thailand - Where family-friends connections are the way business is conducted - legally or otherwise. Foreign customers and landing jobs in big-name companies and organizations simply provide another source of revenue for the dirty little guanxi-dealing and trade in rip-offs. This is why extended Thai middle-class families try to ensure that all the cousins and nephews/nieces are spread around in business and the civil service/police/military. To make that point a bit furtyher, consider why families would pay up to 50,000 USD to land a senior civil Service or Police job?

And it's why that yellow-T-shirt brigade is camping out in an all-or-nothing fight to ensure this old-family system isn't damaged by those like Thaksin who started to bypass the old fuedal system of "family connections" (though he played both ends of the hosue of course).

Welcome to the patronage system! You should actually consider yourself lucky you didn't lose out in the end! Never trust anyone here to look after your best interests.

Edited September 21, 2008 by thaigene2

[glyph]

I too used CBRE, and the experience was completely satisfactory. I'm not sure what the OP is complaining about. Twice, the OP mentioned that CBRE did not get a receipt, and I'm not sure why he didn't ask for CBRE to redeliver the termination letter, and get a receipt. In my opinion, he should have accepted the second offer, and returned the first person's deposit.

[steveromagnino]

And it's why that yellow-T-shirt brigade is camping out in an all-or-nothing fight to ensure this old-family system isn't damaged by those like Thaksin who started to bypass the old fuedal system of "family connections" (though he played both ends of the hosue of course).

Welcome to the patronage system! You should actually consider yourself lucky you didn't lose out in the end! Never trust anyone here to look after your best interests.

Can you TRT fan club members PLEASE stop polluting every frigging thread with your deranged ramblings and thinly veiled attacks on the highest power in Thailand?

Back to subject, I would contact K Alissawa at CBRE Thailand? CBRE Thailand is a name licensed from CBRE worldwide so it is not a subsidiary, it is more like a franchise.

In general my dealings with them have always been good.

[thaigene2]

And it's why that yellow-T-shirt brigade is camping out in an all-or-nothing fight to ensure this old-family system isn't damaged by those like Thaksin who started to bypass the old fuedal system of "family connections" (though he played both ends of the hosue of course).

Welcome to the patronage system! You should actually consider yourself lucky you didn't lose out in the end! Never trust anyone here to look after your best interests.

Can you TRT fan club members PLEASE stop polluting every frigging thread with your deranged ramblings and thinly veiled attacks on the highest power in Thailand?

Back to subject, I would contact K Alissawa at CBRE Thailand? CBRE Thailand is a name licensed from CBRE worldwide so it is not a subsidiary, it is more like a franchise.

In general my dealings with them have always been good.

Funny how you chose to single out the last two lines in my post - which very clearly dealt with the OP's concerns. It's about the way business is conducted here in Thailand - rarely transparent - and his story is a warning to all.

As for your suggestions that my response is a "deranged rambling - thinly veiled attacks on the highest power" is a real stretch too - yet once again it is what the aristocrats - and their apologists, apparently including you, are trying to claim - that disapproval and resistance to sakdina (feudalism and the familes that profit and whom are clearly backing the PAD) somehow amounts to 'disloyalty' - sorry pal -or pad - or whomever you are - but disavowing the PAD and Sakidina is not the same as disavowing the 'highest power in the land' - a power that all thais - and foreigners respect here including me. So to use your own words 'frig' you.

[dotcom]

Well you came to learn something. CBRE don't represent you & they don't represent the developer. They represent themselves.

Greedy Bas tards.

[glyph]

"CBRE twisted my arm..."

You should have immediately reported the physical assault to the police. Oh, you mean they "twisted your arm" figuratively. In other words, CBRE talked you into something and then, eight months later, you changed your mind.

[steveromagnino]

As for your suggestions that my response is a "deranged rambling - thinly veiled attacks on the highest power" is a real stretch too - yet once again it is what the aristocrats - and their apologists, apparently including you, are trying to claim - that disapproval and resistance to sakdina (feudalism and the familes that profit and whom are clearly backing the PAD) somehow amounts to 'disloyalty' - sorry pal -or pad - or whomever you are - but disavowing the PAD and Sakidina is not the same as disavowing the 'highest power in the land' - a power that all thais - and foreigners respect here including me. So to use your own words 'frig' you.

I don't like the PAD. The attack on the patronage system, please use a little thought and you know exactly what you are claiming to fight against - the question is, are we on the same side (dislike PAD and dispise TRT/PPP with their own replicated patronage system) or are you actually somehow pro guys like Thaksin/Samak. The more famous speeches against patronage, we know where both cases have ended up (in court with good reason).

All I am saying is if you want to talk politics, please do so somewhere a little more practical than a thread about CBRE. As for your big sweeping generalisations about doing business here....sorry just don't see it myself but then again who knows, maybe your advice is more relevant to the OP.

Edited September 22, 2008 by steveromagnino

[midas]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

[H3Digital]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

[dotcom]

Next time have Sunbelt draft your sales agreement.

Make the buyers deposit non refundable if the sale doesn't close within 90 days. You keep the 10% deposit in your bank account. Find a new property agent.

If the jerk-off wants to stall you - keep his 10% & tell him thanks & look for a new buyer.

[midas]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

[dotcom]

Because here it's snake eat snake.

Rule of Law? Wild Wild West.

[H3Digital]

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

Not sure about that, Land prices here in Phuket have shot up more than 1000% in some locations over the last 10 years, can't see that sort of return somewhere safer. Again bigger risks, bigger returns.

The rest of your post seems to have the view that everyone wants to live in Sydney Harbour or Australia , there's also only one Phuket Island in the world, I know where I prefer to live.

[Livinginexile]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

[midas]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

[LennyW]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

I guess you will be telling us next that the USA and UK are "regulated markets" ? sorry mess that has turned out to be!!

[midas]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

I guess you will be telling us next that the USA and UK are "regulated markets" ? sorry mess that has turned out to be!!

This discussion by OP was specifically about his ordeal with what sounds like deceptive behaviour by a real

estate agent and in Thailand there are NO RULES covering the conduct of agents.

In most USA states there is a licensing system for brokers so in that regard YES the USA

is a regulated market. And if you do have to go to court and you have a good case,

at least the outcome is somewhat more predictable in the USA than it would be here..........

[prefabs]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

I guess you will be telling us next that the USA and UK are "regulated markets" ? sorry mess that has turned out to be!!

This discussion by OP was specifically about his ordeal with what sounds like deceptive behaviour by a real

estate agent and in Thailand there are NO RULES covering the conduct of agents.

In most USA states there is a licensing system for brokers so in that regard YES the USA

is a regulated market. And if you do have to go to court and you have a good case,

at least the outcome is somewhat more predictable in the USA than it would be here..........

Predictable???? Pretty predictable here ain't it?. You ain't from here, you gonna lose

[midas]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

I guess you will be telling us next that the USA and UK are "regulated markets" ? sorry mess that has turned out to be!!

This discussion by OP was specifically about his ordeal with what sounds like deceptive behaviour by a real

estate agent and in Thailand there are NO RULES covering the conduct of agents.

In most USA states there is a licensing system for brokers so in that regard YES the USA

is a regulated market. And if you do have to go to court and you have a good case,

at least the outcome is somewhat more predictable in the USA than it would be here..........

Predictable???? Pretty predictable here ain't it?. You ain't from here, you gonna lose

Well I have first hand experience after accompanying a friend to court here earlier this year

when tried to sue a developer for what i would term as being " theft ". My friend was meticulous in his

record keeping and I thought he had what seemed to be a watertight case.

But I was stunned ( we are were ) when the JUDGE ( outside the courtroom in an

informal meeting ) virtually warned him that

the Thai developer was known to be a " dangerous person " if you upset him

and it would be better to settle " out of court " The whole system here stinks to high heaven !

[prefabs]

Why invest any money in real estate in this country ?

There is no need to - because there far better markets

around the globe capable of giving generous returns and capital gains

and with better consumer laws and real estate agent regulations than Thailand

Consumer laws and regulations are part of the risk here, the bigger the risk the greater the potential returns.

I'd be happy to invest in Thailand, can't think of anywhere else I'd put money into real estate, perhaps the US in 18 months or so.

CBRE generally have a good reputation, at least here in Phuket - Perhaps the employee involved had a personal interest somehow (friend or family member the purchaser?). Can't think of any other reason they would let someone play them about for so long, the quicker you got your money - the quicker they got their commission.

I have made far more money with Sydney Harbour waterfront property

than I could ever have made in Thailand there is one Sydney Harbour in the world.......

What is so special about ANY location in Thailand ?

And CBRE in Australia could lose their real estate agents licence for engaging in this

sort of deception ..........why take the risk here ?

What is the connection between "Sydney waterfront" and Thai property?

You are talking chalk and cheese here mate.

Why to you find the need to advertise on internet forums that you are a "rich" property trader?

Yeah right. More like an English language teacher living in Kho San Road district

Try to stick to the topic mate rather than trying to convince other TV members you are "rich"

What rubbish

Livinginexile I am very sorry if I have upset you !

No I am not " advertising on internet forums that I am a "rich" property trader " !

and I agree there is no connection between Sydney waterfront and Thai property but

I just wonder why people take unecessary risks buying real estate interests

in Thailand when you generate the same returns elsewhere? You need

a fullproof legal system with sound consumer laws

to invest safely in real estate and in my view Thailand has neither.

The OP was obviously dealt with very shabbily by his real estate agent

- all i am saying is that in more regulated markets ( Sydney being one of them )

you would never get away with that sort of behaviour.

I guess you will be telling us next that the USA and UK are "regulated markets" ? sorry mess that has turned out to be!!

This discussion by OP was specifically about his ordeal with what sounds like deceptive behaviour by a real

estate agent and in Thailand there are NO RULES covering the conduct of agents.

In most USA states there is a licensing system for brokers so in that regard YES the USA

is a regulated market. And if you do have to go to court and you have a good case,

at least the outcome is somewhat more predictable in the USA than it would be here..........

Predictable???? Pretty predictable here ain't it?. You ain't from here, you gonna lose

Well I have first hand experience after accompanying a friend to court here earlier this year

when tried to sue a developer for what i would term as being " theft ". My friend was meticulous in his

record keeping and I thought he had what seemed to be a watertight case.

But I was stunned ( we are were ) when the JUDGE ( outside the courtroom in an

informal meeting ) virtually warned him that

the Thai developer was known to be a " dangerous person " if you upset him

and it would be better to settle " out of court " The whole system here stinks to high heaven !

Exactly. And that is why crooked developers, both Thai and Foreign can get away with their scams. Friend of mine was standing at the courtroom door with a watertight case. The other guy's lawyer came up, whispered in my friend's lawyer's ear, and my mate was quickly advised to leave the building pronto. That afternoon, both lawyers went in front of a judge and guess the result.

Remember the guy in the VT7 case told us how he fired his lawyer after his lawyer kept quiet in a court room??