Real Estate Agents

[Pdaz]

When I first arrived in Pattaya I'm pretty sure there were less than 10 Real Estate agents in and around Pattaya/Jomp.. That number exploded in the last 10 yrs.. Haven't a clue how many there are now. Maybe 100 or more ? But with the decline in the housing/condo business have any of these businesses closed ?

Anybody know of any that have shut up shop or do they just keep plodding along like some of the Thai 'Mom & Pop' businesses on a tiny revenue stream ?

No axe to grind.. Just interested and hope to prove to myself that businesses in Thailand can't defy simple economics.. Although it sometimes seems that they can as some places never have any customers or passing trade but remain open for years.. Why is that ?

[PattayaParent]

CBRE shut down their office in Pattaya.

But I only keep seeing more and more new ones opening up.

[philliphn]

Angel Property seems to have disappeared from the Internet.

[HowardJohnson]

It doesn't actually cost a lot to keep a small office going. If an agent can secure a few rentals and a couple of sales each month, then thats enough to keep it going, pay the salaries and ensure he can survive.

Most brokers will be keen to remain open as long as they can so they are in a good position when the market improves again.

[DonTron]

My company maintains a list of all real estate brokers in Pattaya.

There are currently 167 active brokers on that list. (most of them very small)

It seems to us that each month 10 of them die and 10 new spring up.

[Pdaz]

Thanks for that Dontron.. That was the kinda info I was looking for.. I hadn't really considered that as one business closes another 'likely lad' will open one and have a go.. I guess that low overheads mean that many businesses that are barely viable manage to soldier on.. Must be mindnumbing sitting ina office al day without any punters.. Bit like Homepro and Index where a customer gets mobbed by over keen staff.. I always feel like I'm being surrounded by sharks when I go there..

[prefabs]

Thanks for that Dontron.. That was the kinda info I was looking for.. I hadn't really considered that as one business closes another 'likely lad' will open one and have a go.. I guess that low overheads mean that many businesses that are barely viable manage to soldier on.. Must be mindnumbing sitting ina office al day without any punters.. Bit like Homepro and Index where a customer gets mobbed by over keen staff.. I always feel like I'm being surrounded by sharks when I go there..

One who had to go was PBRL, who closed a few shops in the last year. Trying to rebrand in Jomtien as CCP, enter at your own risk

[midas]

It doesn't actually cost a lot to keep a small office going. If an agent can secure a few rentals and a couple of sales each month, then thats enough to keep it going, pay the salaries and ensure he can survive.

Most brokers will be keen to remain open as long as they can so they are in a good position when the market improves again.

But real estate agencies that are owned by farangs still have to achieve a fairly demanding

revenue target just in order to meet the work permit renewal standards and i question if they can do that

on " few rentals and a couple of sales each month "?

[Ungabunga]

According to some friends of mine, property sales have been very low, but the rental market is alive and well. I'm surprised at the number of agencies opening.

Anyways, one company that I know of appears to have closed down - Dyson Estates, Soi 4 Pratumnak.

It seems the proprietor may have left in a hurry, as it is reported that he allegedly disappeared owing rent to his landlord and left behind alot of items and belongings at the premises. In this case I'm not sure the credit crisis caused the departure.

Edited March 16, 2009 by Ungabunga