Cbre Pattaya - Closed

[PhuketRam]

Interesting Posts... i was going to keep quiet but... i also have been an agent in Phuket 5 years and now work for developers 3 years, phuket, phi phi, krabi, bkk, pattaya, chiang Mai. i know both sides.

Linda, very nice woman, they will relocate her, her staff are applying everywhere they can, i will hope to take on 3 of their staff asap.

"most offer crap service and high commission for what they do" Correct, 100%, there are only about 10 real estate agents in the whole of thailand which are worth their commissions."they arent going to tell you the negatives of buying somewhere" The 10 agents will.. their name is worth protecting, the other 300 agents are sharks and will rip you off for their commissions.

" I am against secondary market MARK-UPS by dishonest agents and overpricing" i agree, the Sole Agency system stinks, alot of sole agents want between 9% and 17%, that is some margins, most projects sell out on 7%, so the agents are greedy and make huge unjustified profits, but again they are in business to make money... i saw one project, very good in my estimation, 22 million baht per unit, very sellable, a sole agent walked in and raised the price to 29 million, not sellable and they did not sell as they were no longer competitive... Very Unlucky for the developer.. one year contract, two sales made. the agent ok, he made money. in a vibrant market the competitive prices would have risen to this level. we all know thai philosopy, one local landowner sells a rai at 12 million his neighbours put thiers up to 14 million.

People who say they got ripped off by a developer never persued it... Thai law is very strict. if a project over runs or fails to be built the buyer is entitled to all of his money back, less 3% agent fee (if any) plus 15% interest. if it over runs by 30 days then you are entitled to 15% per annumn interest, or your money back. if the developer has no money, he goes to prison... his and his family assets are sold off the pay back the buyer... this is Thai Law (unless recently ammended) which takes presidence over any developers contracts. most thai contracts has this in, as they know the law... foriegn projects seem to miss this out somewhat.. buyer beware...

so the guy who said he got scammed did so under his own ignorance.. i know, he complained to the developer, the developer said read your contract and he left it... he should have sat down with a thai lawyer... sorry for him..

reports out of bangkok is that this law is going to get stronger not weaker and a type of escro system will be used. not good for the developer, he has to borrow against sales made to build, but protects the buyer.

enough for now, dont trust agents, buy direct from the developer and not from sole agency developments and you will get a fair price.

[sharecropper]

Interesting Posts... i was going to keep quiet but... i also have been an agent in Phuket 5 years and now work for developers 3 years, phuket, phi phi, krabi, bkk, pattaya, chiang Mai. i know both sides.

Linda, very nice woman, they will relocate her, her staff are applying everywhere they can, i will hope to take on 3 of their staff asap.

"most offer crap service and high commission for what they do" Correct, 100%, there are only about 10 real estate agents in the whole of thailand which are worth their commissions."they arent going to tell you the negatives of buying somewhere" The 10 agents will.. their name is worth protecting, the other 300 agents are sharks and will rip you off for their commissions.

" I am against secondary market MARK-UPS by dishonest agents and overpricing" i agree, the Sole Agency system stinks, alot of sole agents want between 9% and 17%, that is some margins, most projects sell out on 7%, so the agents are greedy and make huge unjustified profits, but again they are in business to make money... i saw one project, very good in my estimation, 22 million baht per unit, very sellable, a sole agent walked in and raised the price to 29 million, not sellable and they did not sell as they were no longer competitive... Very Unlucky for the developer.. one year contract, two sales made. the agent ok, he made money. in a vibrant market the competitive prices would have risen to this level. we all know thai philosopy, one local landowner sells a rai at 12 million his neighbours put thiers up to 14 million.

People who say they got ripped off by a developer never persued it... Thai law is very strict. if a project over runs or fails to be built the buyer is entitled to all of his money back, less 3% agent fee (if any) plus 15% interest. if it over runs by 30 days then you are entitled to 15% per annumn interest, or your money back. if the developer has no money, he goes to prison... his and his family assets are sold off the pay back the buyer... this is Thai Law (unless recently ammended) which takes presidence over any developers contracts. most thai contracts has this in, as they know the law... foriegn projects seem to miss this out somewhat.. buyer beware...

so the guy who said he got scammed did so under his own ignorance.. i know, he complained to the developer, the developer said read your contract and he left it... he should have sat down with a thai lawyer... sorry for him..

reports out of bangkok is that this law is going to get stronger not weaker and a type of escro system will be used. not good for the developer, he has to borrow against sales made to build, but protects the buyer.

enough for now, dont trust agents, buy direct from the developer and not from sole agency developments and you will get a fair price.

Some good points, but if you buy direct from the developer before or during the build period, buyers shoulder the developer's risk of him not being able to finish, running out of money, going bust etc. Wouldn't you say right now that you should only buy from a developer who has actually completed his project using his own money, because then you can actually move in, have no sleepless nights and know that what you are buying, namely a finished unit, is priced at the correct market price and not someone's wildly inaccurate estimate of what the market price will be like 3 years in advance,, asusming the project gets built?

[tattoodrob]

so the guy who said he got scammed did so under his own ignorance.. i know, he complained to the developer, the developer said read your contract and he left it... he should have sat down with a thai lawyer... sorry for him..

i didnt explain about my friend fully.....he wasnt scammed by a developer....it was by a couple(thai lady and farang long time bar owneres here) he met in a bar at a large condo complex who knew someone selling a condo.basically he transferred money to there associates bank account in thailand and the mans wife ran off with the cash. he got a lawyer and told police who caught up with her but was told her boyfriend(thai boyfriend not the farang husband!) had run off with all of it(bullshit),i think she did a month in the monkey house and my friend sort of gave up as lawyers fees starting to add up and he had lost all his money in the scam anyway.

to be honest he was stupid to do all this and i informed him not to do it this way during but he insisted it was all okand they were good guys....hmmmmm another one bites the dust. personally i would have killed her but thats another story