Estate Agents - Again

[seaeagle]

Why is it that...

when I buy a car, I pay a deposit, then pay the full and final payment once the car is delivered.

when I get some aerial photography, I pay for it when the photos are finished.

when I got my garden landscaped, I paid for it when the work was completed.

when I went to hospital for an injection, I got the vaccination, and only then did I pay for it.

.......when I go to a restaurant, I eat the bloody food first before paying for it!

Yet, with an Estate Agent here, they want their FULL commission up front just on contract signing, rather than see the whole sale process through to a conclusion, and receive the commission in FULL at the same time as the seller receives their money in FULL.

One agent even preferred to walk away from any chance of getting a dime, rather than get paid when their job (getting a 'sale', not just 'finding' a client) was properly over.

It's absolutely outrageous, but I think we're locked into this cartel. With the current climate, the boot is certainly on their foot. But, hey, one day when the market turns, these people should certainly get payback .

For you agents out there, just why do you think your job ENDS once you've simply found somebody? Your job ends when a satisfactory sale is concluded, and not before. Don't say "it's like this in Thailand", because it's not. Thais don't pay Thais commission until the sale is done and dusted. You 'foreign' lot have just unilaterally put this in place, when it exists nowhere else in the world.

AArrghhh!

[antony77]

Refuse to pay any commission until the sale has gone through. Agents only get commission for selling not for buying.

I have sold two properties and on both I paid the agent a commission and the sale fell through. I did not get the money back.

Estate agents pretend that they have sold your property then get a commision and then tell you the sale is off. Worst scammers are farangs.

[rfukata]

I have found that some of them are not even agents, they pretend to be so be cautious.

[wandrinstar]

I went round all the Banks, looking for snatch backs.Its safer,but offers a smaller choice.There has been one up for sale near me for 7 Mill with a Bank, it didn't sell,they just auctioned it for 3.5, so a look round is worthwhile.For me. i rent,if you get a Nasty Neighbour its easy to move on.

[petercallen]

Real estate agents should only be paid on settlement, the same as everyone else involved.

If the deal falls through the agent should get nothing.

It would be interesting to know what qualifications if any estate agents have here.

The same goes for builders.

[Wellington]

Refuse to pay any commission until the sale has gone through. Agents only get commission for selling not for buying.

I have sold two properties and on both I paid the agent a commission and the sale fell through. I did not get the money back.

Estate agents pretend that they have sold your property then get a commision and then tell you the sale is off. Worst scammers are farangs.

Similar thing happened to us two years ago;

agent(In Karon) produced buyer who paid deposit then backed off;

The Finn (Buyer) wanted deposit back after messing us around for months;, agent kept it, but gave us half; generous.

[katabeachbum]

The thai agents I have dealt with are happy to recieve commision on full settlement, usually in land office or in the bank later same day.

Gready farang agents should try to behave more like thais;)

[Boater]

i have never encounter agents asking for Money untill the sale is complete, IE Sales and Purchase agreement signed, and full funds transfered to the sellers lawyer, who in turn will pay the commission to the agent, or in some cases the seller ( if the agent trusts them not to run away with the money once they have it )

If you are dealing with a genuine agent, they wont ask upfront, unless you are not using an a lawyer , then i can understand why the agent maybe cautious , as it has been known for an agent to make a sale and the seller run away with out paying the agent