Pattaya Real Estate Agents

[dickie58]

I am currently trying to sell my house here in Pattaya, & am in the process of listing it with a number of the local agents.

It appears that most of the Pattaya real estate agents, now want there 5% sales comision paid when the buyer pays there deposit & exchange contracts.

I always thought that sales comision was only paid when the sale was completed, & the said property was transfered to the new owner at the local land office?

[Ohio]

You are correct.

Until that is done the Sale can still fall apart & good luck getting the 5% back.

[loopaimod]

I only ever pay once the deal complete. No decent company would charge before transfer. Interesting though, can you post the names of the companies that charge before completion so I can be aware of these idiots when my next condo is ready for sale. Hate dealing with cowboy agents.

[dickie58]

I only ever pay once the deal complete. No decent company would charge before transfer. Interesting though, can you post the names of the companies that charge before completion so I can be aware of these idiots when my next condo is ready for sale. Hate dealing with cowboy agents.

Not willing to post company names, for obvious reasons, but out of the 8 agents i have contacted 7 want there comision paid at the time the buyer pays there deposit.

I think there is no hope whatsoever of getting your comision back if the sale falls through

[moo9]

Crazy, because the deposit is a fraction of the total price in general, and I imagine, that many people even dump their deposit in case they find something cheaper and/or better.

I definately would not accept to pay a Satang before the final transfer and payment.

[norrona]

not wishing to stick up for unscrupulous agents but when I sold property in pattaya many owners actually ruined the sale by either changing goal posts or deciding the property was sold too quick thus was too cheap(not something that would happen in current times i grant you)

the way I see it dickie is do you want help in selling your property and do you want someone to shift it for you?

for the 5% you're going to shell out to an agent have you not thought about spending that on your own way of advertising? I mean it can't be hard to sell a desirable property at a realistic price can it, the abundant real estate agencies here says that to me

[norrona]

Crazy, because the deposit is a fraction of the total price in general, and I imagine, that many people even dump their deposit in case they find something cheaper and/or better.

I definately would not accept to pay a Satang before the final transfer and payment.

it is not costing the owner 1 baht so don't know where you're coming from there....

my concern would not be for what the agent is taking out of a paid deposit but the actual sale going through and completing, so with that in mind if I were the owner my property would not be sold until I was at the land office with an agent and buyer and all the paperwork was going through and I was recieving my cashiers cheque!

what about the deposit originally paid I hear you ask?

well if you think the agent shouldn't pay themselves out of that then why do you think you should be holding it?

[stingray]

I only ever pay once the deal complete. No decent company would charge before transfer. Interesting though, can you post the names of the companies that charge before completion so I can be aware of these idiots when my next condo is ready for sale. Hate dealing with cowboy agents.

Not willing to post company names, for obvious reasons, but out of the 8 agents i have contacted 7 want there comision paid at the time the buyer pays there deposit.

I think there is no hope whatsoever of getting your comision back if the sale falls through

First of all, i'm not in the real estate business, but have to understand: Time cost money: So alls the hassles to talk with the customer, go and show the property (gasoline expenses, timewaste, pictures, etc), talk again, negociate again and talk again, etc. Sometime they show a dam 600'k condo to 50 different customers until they can set up a deal, or maybe not. All that timewaste. I understand that they have to ask for their commission up front ,when pay the deposit money. so make sure the deposit money is large enought to cover their 5% comsion, thant's mean at least 10% or more.

[norrona]

I only ever pay once the deal complete. No decent company would charge before transfer. Interesting though, can you post the names of the companies that charge before completion so I can be aware of these idiots when my next condo is ready for sale. Hate dealing with cowboy agents.

Not willing to post company names, for obvious reasons, but out of the 8 agents i have contacted 7 want there comision paid at the time the buyer pays there deposit.

I think there is no hope whatsoever of getting your comision back if the sale falls through

First of all, i'm not in the real estate business, but have to understand: Time cost money: So alls the hassles to talk with the customer, go and show the property (gasoline expenses, timewaste, pictures, etc), talk again, negociate again and talk again, etc. Sometime they show a dam 600'k condo to 50 different customers until they can set up a deal, or maybe not. All that timewaste. I understand that they have to ask for their commission up front ,when pay the deposit money. so make sure the deposit money is large enought to cover their 5% comsion, thant's mean at least 10% or more.

I agree, if it wasn't for the buyers and sellers the real estate business would be a good one and i'd still be doing it!!!

what people fail to understand is this real estate company is not your friend, not here to do you any favours and here purely to make money...once you understand that and have come to terms that they're not there as a free service to advertise your property, pay rent on their office etc for you the owner to decide that you may not want to sell it after a lot of hard work then maybe you might appreciate that out of the deposit paid they will hang on to the 5% to cover themselves?

had plenty of people in my time being sneaky from passing their personal numbers to prospective buyers to cut out the commission(thats the owners) to people going back after you've given them a free tour round all your listings trying to broker their own deal direct to get a big discount(the buyers)

I think people on this thread need to realise out of this 5% they hold it is not coming directly out of the sellers pocket? also it will be established at the time of paying deposit whether it is refundable or not(probably not) so really if someone is that serious to put a deposit down then unless something really bad happens(like them dying or their being a recession) then all should be hunky dory and everyone should eventually get what they want....unless the agent dissapears with deposits that is but thats another topic for another thread

[loopaimod]

What an absolute load of crap you guys (Norrona, Stingray) are talking about!! Why would an agent expect half of a 10% deposit for a failed deal. Any agent I use, and there are plenty, only charge their fees upon full completion of the deal. If a deal does fall through I normally pay them a percentage of the deposit but nothing like 50%. Generally 5% of the received deposit. Even that is 5,000 Baht for every 100,000 deposited and I can assure you that it does cover a lot of petrol costs and a few sheets of paper used for a contract. Why should you pay them more percentage wise for a failed deal rather than a successful one?

Get new agents to market your home. Simple. If they need their money up front they cannot be trusted to hold any of your funds. Take care using such companies.

You contacted 8 companies already. There must be 200 out there. Give some more a try, they might be more professional.

[norrona]

What an absolute load of crap you guys (Norrona, Stingray) are talking about!! Why would an agent expect half of a 10% deposit for a failed deal. Any agent I use, and there are plenty, only charge their fees upon full completion of the deal. If a deal does fall through I normally pay them a percentage of the deposit but nothing like 50%. Generally 5% of the received deposit. Even that is 5,000 Baht for every 100,000 deposited and I can assure you that it does cover a lot of petrol costs and a few sheets of paper used for a contract. Why should you pay them more percentage wise for a failed deal rather than a successful one?

Get new agents to market your home. Simple. If they need their money up front they cannot be trusted to hold any of your funds. Take care using such companies.

You contacted 8 companies already. There must be 200 out there. Give some more a try, they might be more professional.

you don't get this do you???

what part of this has said you are paying the estate agent up front?

their commission is taken from the deposit paid by the buyer, as long as I got the balance (so lets dumb it down)

property up for sale @ 3mil

5% comm @ 150,000

final to me at lands office or lawyers in cash/cashiers cheque when the transfer is in progress and done would be 2.85mil

if it falls over and the buyer has paid a deposit which the agent doesn't return then it is still for sale which is why my property would still be for sale up till the day it is transferred because till I recieve a deposit/commitment it is not sold, as if I was keeping deposits from people who over commited or changed their mind I would rather that person didn't know where I was living or where my property was.....unscrupulous people do have a habit of ending up at the wrong end of a weapon if you know what I mean.

Edited August 4, 2009 by norrona

[raro]

easy guys....moderaro is watching you

[dickie58]

not wishing to stick up for unscrupulous agents but when I sold property in pattaya many owners actually ruined the sale by either changing goal posts or deciding the property was sold too quick thus was too cheap(not something that would happen in current times i grant you)

the way I see it dickie is do you want help in selling your property and do you want someone to shift it for you?

for the 5% you're going to shell out to an agent have you not thought about spending that on your own way of advertising? I mean it can't be hard to sell a desirable property at a realistic price can it, the abundant real estate agencies here says that to me

As it happens the 5% sales comision the agents will get if the sell my house works out to more than 1 milion baht, so i think it's fair to say they are entitled to do a bit of running about & advertising for this kind of expected comision?

A sale is a sale, an introduction & signing of contracts & taking a 10% deposit is not a sale

NO SALE NO FEE, was always the moto used in the real estate industry

Yes i will be doing some of my own advertising in various formats

I'm sure all the agents will put a clause in the contract that if the seller moves the goal posts as it were , then he would have to return the said deposit to the buyer. If the buyer pulls out of his own accord then he losses his deposit

[norrona]

not wishing to stick up for unscrupulous agents but when I sold property in pattaya many owners actually ruined the sale by either changing goal posts or deciding the property was sold too quick thus was too cheap(not something that would happen in current times i grant you)

the way I see it dickie is do you want help in selling your property and do you want someone to shift it for you?

for the 5% you're going to shell out to an agent have you not thought about spending that on your own way of advertising? I mean it can't be hard to sell a desirable property at a realistic price can it, the abundant real estate agencies here says that to me

As it happens the 5% sales comision the agents will get if the sell my house works out to more than 1 milion baht, so i think it's fair to say they are entitled to do a bit of running about & advertising for this kind of expected comision?

A sale is a sale, an introduction & signing of contracts & taking a 10% deposit is not a sale

NO SALE NO FEE, was always the moto used in the real estate industry

Yes i will be doing some of my own advertising in various formats

I'm sure all the agents will put a clause in the contract that if the seller moves the goal posts as it were , then he would have to return the said deposit to the buyer. If the buyer pulls out of his own accord then he losses his deposit

seems like one way traffic to me dickie, yes it is business and I fully appreciate that you do not trust estate agents and this thing of them holding onto what will eventually be their commission....what I was trying to say is within this current climate and properties of your price range not shifting too quickly that if you really wanted to sell it and need the assistance of an estate agent then what have you got to lose by going along with this procedure? at the end of the day your property will not be fully sold till it is completed at the lands office etc.

look at it another way, I know a bloke who recieved a 200k deposit on a property direct from the agent who was willing to take their commission upon completion, the deal fell over, the original buyer forfitted their deposit and the agent had done loads of runnig about for nothing as the bloke who got his 200k wouldn't answer calls and certainly didn't go back to the office and offer any money....the person who done all the hard work has a wife and 3 kids to take care of but you don't hear him on here saying much about it!

I don't think he will just hand over deposits in the future and who would blame him...

the phrase 'once bitten' springs to mind

[monty]

Easy, when an agent works for me, he gets 5% of whatever I am getting.

That's 5% of the deposit when I get the deposit, and 5% on the remainder when I get the remainder.

Fair enough!

And to be honest, I do find 5% too high, and that is coming from somebody who is partially involved with the real estate business.

Only reason IMHO that the commission went up is that there are too many estate agencies and not enough property shifting.

I am here 16 years now, and for about 12 years it has been 3%, only in the last few years a shift to 5% has happened...

[bojo]

Easy, when an agent works for me, he gets 5% of whatever I am getting.

That's 5% of the deposit when I get the deposit, and 5% on the remainder when I get the remainder.

Fair enough!

And to be honest, I do find 5% to high, and that is coming from somebody who is partially involved with the real estate business.

Only reason IMHO that the commission went up is that there are to may estate agencies and not enough property shifting.

I am here 16 years now, and for about 12 years it has been 3%, only in the last few years a shift to 5% has happened...

I seem to remember it was 3% in Samui also, has it changed in the last two years there as well.

Regards Bojo

[JR Texas]

I normally work with this guy.........one of the best in town........very nice and reputable.......you can trust him.........his company........Pattaya-Jomtien Real Estate Hounds (off Soi 7 in Jomtien):

[norrona]

Easy, when an agent works for me, he gets 5% of whatever I am getting.

That's 5% of the deposit when I get the deposit, and 5% on the remainder when I get the remainder.

Fair enough!

And to be honest, I do find 5% to high, and that is coming from somebody who is partially involved with the real estate business.

Only reason IMHO that the commission went up is that there are to may estate agencies and not enough property shifting.

I am here 16 years now, and for about 12 years it has been 3%, only in the last few years a shift to 5% has happened...

was always 3% when I was selling and 5% on anything under 1 mil baht, the estate agents decided to do a thai business logic one with this when it all went quiet and decided to up their fees....well I suppose people need to pay for their pickups and SUV's in some way or other

[monty]

Indeed, the smaller properties under a certain price carried a higher fee, understandable as the same job/work load generated only a very small fee for them.

But then again, it used to be that on the very high priced properties the fee was negotiable, as at the standard percentage money wise they would net a massive amount.

Not so today! Have just been involved shifting a (roughly) 2 million US$ property here in Thailand, and most all agents stubbornly stuck to 5% (that's a cool 3.5+ million Baht commission!) with one nutter insisting on a 10% commission as it was a commercial property!

In the end they all got bugger all as we did the work ourselves (overseas advertising etc, total cost around 50,000 Baht) and were successful at it! Some pretty beer money saved

[suiging]

I normally work with this guy.........one of the best in town........very nice and reputable.......you can trust him.........his company........Pattaya-Jomtien Real Estate Hounds (off Soi 7 in Jomtien):

Oi !!!

I don't work there anymore.

[JR Texas]

I normally work with this guy.........one of the best in town........very nice and reputable.......you can trust him.........his company........Pattaya-Jomtien Real Estate Hounds (off Soi 7 in Jomtien):

Oi !!!

I don't work there anymore.

Sorry........since the mustache was shaved off, I thought the agent in the picture would not be recognizable. I apologize

[norrona]

Indeed, the smaller properties under a certain price carried a higher fee, understandable as the same job/work load generated only a very small fee for them.

But then again, it used to be that on the very high priced properties the fee was negotiable, as at the standard percentage money wise they would net a massive amount.

Not so today! Have just been involved shifting a (roughly) 2 million US$ property here in Thailand, and most all agents stubbornly stuck to 5% (that's a cool 3.5+ million Baht commission!) with one nutter insisting on a 10% commission as it was a commercial property!

In the end they all got bugger all as we did the work ourselves (overseas advertising etc, total cost around 50,000 Baht) and were successful at it! Some pretty beer money saved

nice one, that is the message I was trying to get accross to Dickie...I doff my cap to you sir

[TJG]

Indeed, the smaller properties under a certain price carried a higher fee, understandable as the same job/work load generated only a very small fee for them.

But then again, it used to be that on the very high priced properties the fee was negotiable, as at the standard percentage money wise they would net a massive amount.

Not so today! Have just been involved shifting a (roughly) 2 million US$ property here in Thailand, and most all agents stubbornly stuck to 5% (that's a cool 3.5+ million Baht commission!) with one nutter insisting on a 10% commission as it was a commercial property!

In the end they all got bugger all as we did the work ourselves (overseas advertising etc, total cost around 50,000 Baht) and were successful at it! Some pretty beer money saved

Not quite all. We still charge 3%.

[dickie58]

Indeed, the smaller properties under a certain price carried a higher fee, understandable as the same job/work load generated only a very small fee for them.

But then again, it used to be that on the very high priced properties the fee was negotiable, as at the standard percentage money wise they would net a massive amount.

Not so today! Have just been involved shifting a (roughly) 2 million US$ property here in Thailand, and most all agents stubbornly stuck to 5% (that's a cool 3.5+ million Baht commission!) with one nutter insisting on a 10% commission as it was a commercial property!

In the end they all got bugger all as we did the work ourselves (overseas advertising etc, total cost around 50,000 Baht) and were successful at it! Some pretty beer money saved

nice one, that is the message I was trying to get accross to Dickie...I doff my cap to you sir

I have now managed to find some local agents who are charging 3%, & also managed to convince another that 3% was suffuicent on this amount if he sells it, & he agreed

One of the other agents also agreed that comision should be on a sliding scale, 5% at the low end & 3% at the top end in my case, they also advertise on the Thai visa forum

I have now put my house on a number of web sites & a few of the local papers & magazines, will also put my own sign on my gate

One agent i went & saw earlier in the week, took my house details etc at there office, then had the cheek to turn around to me & say, better you email us your house photos, i said "NO WAY", if you want to list it you come around & take your own pictures, not heard from them since, so not heartbroken!!!

Another agent who i spoke to some time ago about listing my place told me then that as my property was at the top end they would do a virtual tour to put on there web site, they came around to list it yesterday & i asked them about the virtual tour, they said if i wanted that i would have to pay 15,000 baht, they are one of the ones charging 5%

[norrona]

Indeed, the smaller properties under a certain price carried a higher fee, understandable as the same job/work load generated only a very small fee for them.

But then again, it used to be that on the very high priced properties the fee was negotiable, as at the standard percentage money wise they would net a massive amount.

Not so today! Have just been involved shifting a (roughly) 2 million US$ property here in Thailand, and most all agents stubbornly stuck to 5% (that's a cool 3.5+ million Baht commission!) with one nutter insisting on a 10% commission as it was a commercial property!

In the end they all got bugger all as we did the work ourselves (overseas advertising etc, total cost around 50,000 Baht) and were successful at it! Some pretty beer money saved

nice one, that is the message I was trying to get accross to Dickie...I doff my cap to you sir

I have now managed to find some local agents who are charging 3%, & also managed to convince another that 3% was suffuicent on this amount if he sells it, & he agreed

One of the other agents also agreed that comision should be on a sliding scale, 5% at the low end & 3% at the top end in my case, they also advertise on the Thai visa forum

I have now put my house on a number of web sites & a few of the local papers & magazines, will also put my own sign on my gate

One agent i went & saw earlier in the week, took my house details etc at there office, then had the cheek to turn around to me & say, better you email us your house photos, i said "NO WAY", if you want to list it you come around & take your own pictures, not heard from them since, so not heartbroken!!!

Another agent who i spoke to some time ago about listing my place told me then that as my property was at the top end they would do a virtual tour to put on there web site, they came around to list it yesterday & i asked them about the virtual tour, they said if i wanted that i would have to pay 15,000 baht, they are one of the ones charging 5%

I think you've been around long enough to expect this from these bandits dickie, good luck in selling your house!

[lemel]

Dickie, wern't you selling property yourself before on the hillside? acting as an unofficial agent, as well as been a overseer of building/construction, surely with the expertese and contacts with agents that you have built up over the years, you should have no problem in selling your high quality, high end, high priced property without the aid of those scum bag real estate agents.

You have been in construction and real estate for 4-5 years now, why use agents? you were the one who built your house, you know more about it than anyone, and you know all the agents, so why use them, keep your 5% and sell it your self!!!!

[norrona]

very interesting that last post, still at least the posters on thaivisa pattaya know dickie wants to sell his house now and that hasn't cost 5%

[dickie58]

Dickie, wern't you selling property yourself before on the hillside? acting as an unofficial agent, as well as been a overseer of building/construction, surely with the expertese and contacts with agents that you have built up over the years, you should have no problem in selling your high quality, high end, high priced property without the aid of those scum bag real estate agents.

You have been in construction and real estate for 4-5 years now, why use agents? you were the one who built your house, you know more about it than anyone, and you know all the agents, so why use them, keep your 5% and sell it your self!!!!

Yes I did use to try & sell a bit of land on the hillside, but not sure I understand what you say about uofficial, i have always had a Thai registerd consulting company, & an office & WP?

Yes I mostly do project managment overseeing construction, that is my main buisness

I did build this house 6 years ago. I have also been in Ptty 13 years & i know most of the real estate agents from old!!!

It goes without saying that i would prefer to sell this house on my own & save on the agents fees, but i can't do everything on my own, & I'm afraid i need the help of some of the local agents