What Do Real Estate Agents Charge For Selling Property?

[chickencurry]

Just as an update for anyone else selling - we are now with 7 agents in Phuket. The average commission is 4 per cent. Lowest commission 3 per cent, highest so far 5 per cent.

We rejected 2 agents. One was decidedly dodgy. The other one looked totally bored, rude, and boasted how many properties they had on their books i.e. hopeless case and don't deserve the business.

[ThaiSunshine]

We charge 3% no matter what kind of property.....but of course we don't refuse if the seller offer us 5% but we do never show properties to clients that doesn't suit their needs and budget....no matter the size o the commission!

[torrenova]

A few years ago, all of Pattaya charged 3%. Then, as properties went up in value, they started to charge more. 5% became the new figure. So, if the average price has gone up, why the need to charge 5% (or more) ? Surely it should have stayed the same or in fact gone down. Unless of course they are taking the piss and robbing you blind.

[torrenova]

It's up to them, they are totally unregulated and usually unqualified.

An acquaintance in Pattaya was one of these wide boys, he used to ask the vendor what they would accept and make an agreement for that price. He would then market the property himself at an inflated figure and pocket the difference. Sometimes he'd get lucky and make upwards of 20%, sometimes he'd make nothing. Very dodgy geezer.

yup...thats right...we have quite of few guys do that here. They do it on the rental units too...if they even pay you if they rent it out.

I've been doing that since I was at university. There I rented empty houses, furnished them and sublet the rooms. I have done it in London, Spain and Thailand and use it constantly as a part of my business. As an investor, what do you want ? the hassle of short term rentals or people wanting only 6 months, when I can take it for up to 3 years straight off and guarantee your income ?

[Richb2004v2]

A few years ago, all of Pattaya charged 3%. Then, as properties went up in value, they started to charge more. 5% became the new figure. So, if the average price has gone up, why the need to charge 5% (or more) ? Surely it should have stayed the same or in fact gone down. Unless of course they are taking the piss and robbing you blind.

Isn't that normal procedure in Thailand: if something isn't selling then up the price, and if something is selling then up the price.

[Atmos]

We had an 'encounter' with an agency in Phuket - very flashy people they were too - a Russian , a Frenchman and an Australian (yes, it does sound like the opening to a bad joke).

Their fee: 10% 'negotiable' (ie how big a sucker the customer was)

It was a brief encounter.

[steelepulse]

We had an 'encounter' with an agency in Phuket - very flashy people they were too - a Russian , a Frenchman and an Australian (yes, it does sound like the opening to a bad joke).

Their fee: 10% 'negotiable' (ie how big a sucker the customer was)

It was a brief encounter.

For that 10% I'd dare say all they'll do is list it on their website with no active marketing at all.

[TJ xpat]

Just a little information to people looking to buy property here in Hua Hin Thailand, some Estate Agents in Hua Hin town will ask for a commitment payment as did S-Property to a poor 71 year old lady visiting from Australia this office in Hua Hin promised of a full return of the monies if she decided not to buy. This payment unless you are 100% sure you are going to buy never part with this payment as this lady now is having problems trying to get this back.

The only time you would make a deposit is when you complete a sales form between yourself and the owner of the property.

[chickencurry]

Just as an update for anyone else selling - we are now with 7 agents in Phuket. The average commission is 4 per cent. Lowest commission 3 per cent, highest so far 5 per cent.

We rejected 2 agents. One was decidedly dodgy. The other one looked totally bored, rude, and boasted how many properties they had on their books i.e. hopeless case and don't deserve the business.

Just another update if anyone is interested. 18 property agents later, Facebook page, Facebook person page, ThaiVisa classified ad, and we seem to have a buyer (if it all goes through okay) <insert Fingers Crossed smilie>. This is a re-sale property on Phuket. All the agents commissions ranged from 3 per cent to 5 per cent, sometimes with VAT added, sometimes included.

[Nirvana]

Just as an update for anyone else selling - we are now with 7 agents in Phuket. The average commission is 4 per cent. Lowest commission 3 per cent, highest so far 5 per cent.

We rejected 2 agents. One was decidedly dodgy. The other one looked totally bored, rude, and boasted how many properties they had on their books i.e. hopeless case and don't deserve the business.

Just another update if anyone is interested. 18 property agents later, Facebook page, Facebook person page, ThaiVisa classified ad, and we seem to have a buyer (if it all goes through okay) <insert Fingers Crossed smilie>. This is a re-sale property on Phuket. All the agents commissions ranged from 3 per cent to 5 per cent, sometimes with VAT added, sometimes included.

Hi Chickencurry

Did you get any bites from the Thai Visa advert ?

i am considering this one myself

Nirvana

[Wellington]

Just as an update for anyone else selling - we are now with 7 agents in Phuket. The average commission is 4 per cent. Lowest commission 3 per cent, highest so far 5 per cent.

We rejected 2 agents. One was decidedly dodgy. The other one looked totally bored, rude, and boasted how many properties they had on their books i.e. hopeless case and don't deserve the business.

Just another update if anyone is interested. 18 property agents later, Facebook page, Facebook person page, ThaiVisa classified ad, and we seem to have a buyer (if it all goes through okay) <insert Fingers Crossed smilie>. This is a re-sale property on Phuket. All the agents commissions ranged from 3 per cent to 5 per cent, sometimes with VAT added, sometimes included.

Hi Chickencurry

Did you get any bites from the Thai Visa advert ?

i am considering this one myself

Nirvana

We sold all the furniture we advertised in TV, but property ad had no response whatsoever,over a year.

[jackdawson]

but property ad had no response whatsoever,over a year.

a year? i thought the market was on fire !

[chickencurry]

Nirvana, we didn't get any response from the TV ad but also we didn't get any response from about 12 of the 18 agents we are registered with I would've thought it's worth doing though as it is free. Be careful that you use a "spare" email address for the ad, as we are now getting a ton of spam on that particular email address, and it can only be as a result of that ad.

I don't think a year is unusual for selling a re-sale. Our house in the UK sold after a year, and we made a packet on that one. This one in Phuket we've had on the market for about 5 months - be lucky if we break even after all the taxes to be paid, though we have saved a LOT in rent of course. Anyway, sale not completed yet - and we all know how many sales fall through on Phuket, don't we.

[Wellington]

Nirvana, we didn't get any response from the TV ad but also we didn't get any response from about 12 of the 18 agents we are registered with I would've thought it's worth doing though as it is free. Be careful that you use a "spare" email address for the ad, as we are now getting a ton of spam on that particular email address, and it can only be as a result of that ad.

I don't think a year is unusual for selling a re-sale. Our house in the UK sold after a year, and we made a packet on that one. This one in Phuket we've had on the market for about 5 months - be lucky if we break even after all the taxes to be paid, though we have saved a LOT in rent of course. Anyway, sale not completed yet - and we all know how many sales fall through on Phuket, don't we.

Three in our case!

[chickencurry]

Wellington... and for us it's now ONE. I'm not surprised at all. In for the long haul I think but we've learnt a few things.