Property Market .... Are We At The Bottom ?

[churchill]

So which agents are making sales ? Samuivilasandhomes seem to be doing rentals and weddings

kosamuiproperty .. as always reliable

who else .? Who is making sales....................anybody

and if so who is buying ... russians .. perhaps Europeans wanting to get out of the Euro

It would be interesting to have a performance table of sales achieved , prices ..

From what I hear the most transactions are either condo type , under 8 M or plots with infrastructure ready for building ? and that the house resale market is near dead /

Does the land office publish monthly transactions .. it would be interesting to see how these have moved over the last 4/5 years .

[Rooo]

Most of the real estate agents on Samui are NO HOPERS. Uneducated,no skills, couldn't qualify a buyer if they fell on him. They only sell a price or their own projects.

So really what hope have you got of getting any info, if they don't even know what they are talking about.Ask 10 you will get 10 unqualified rubbish answers.

Churchill, you are flattering the worst, seeking info.

[cwmkpg]

Rooo is absolutely correct... These so called "property agents" are a bunch of lazy monkeys. They sit in their comfortable air-con offices and do NOTHING except wait for someone with a suitcase full of money to arrive, and then they have the B***S to expect a 5% commission for doing no work at all except posting a few pictures on their website !!! On Pha ngan, 4 out of 6 of these so called "agents" have been chased off the island in the last few years.(at least 1 at gunpoint)....

I don't believe that the market has reached the bottom but potential buyers do not have reliable agents to help them. This is only my opinion based on conversations with more than a few property owners (sellers)......

[voodoomagicman]

What I'd give to find an Agent with a bit of enthusiasm. If someone could recommend one it would be greatly appreciated.

M

[John 1]

What I'd give to find an Agent with a bit of enthusiasm. If someone could recommend one it would be greatly appreciated.

M

Why? do you have something to sell or do you want to buy.

[voodoomagicman]

What I'd give to find an Agent with a bit of enthusiasm. If someone could recommend one it would be greatly appreciated.

M

Why? do you have something to sell or do you want to buy.

Sell John, am looking to move up country so selling up.

[PattayaPhom]

What I'd give to find an Agent with a bit of enthusiasm. If someone could recommend one it would be greatly appreciated.

M

If an agent came to your property to take listing details and a valuation,..you observed he was full of enthusiasm, then he says he will list your property but the market valuation he gave you was 30% less than you expexced..would you still want him to sell your property?..Some agents are exactly as been described above but there are professional people that know what they are doing and work as an angent should, however too many times in Thailand the owner thinks they should dictate the value of their property as they know best, this is why so many never sell or rent.

[Rooo]

What I'd give to find an Agent with a bit of enthusiasm. If someone could recommend one it would be greatly appreciated.

M

If an agent came to your property to take listing details and a valuation,..you observed he was full of enthusiasm, then he says he will list your property but the market valuation he gave you was 30% less than you expexced..would you still want him to sell your property?..Some agents are exactly as been described above but there are professional people that know what they are doing and work as an angent should, however too many times in Thailand the owner thinks they should dictate the value of their property as they know best, this is why so many never sell or rent.

As I previously mentioned, most only sell price. They are not bothered to sell the property. They walk the customers up & the seller has to give the guided tour with all benefits etc.....

As for pricing, I doubt very much if they have an efficient mnner in property valuations here.

Agree sellers sometimes have their heads in the clouds, but that is because of what they have been topd , either when buying their properties or by over zealous agents hunting a listing.

But when it comes to the crunch, most will browbeat you in dropping the price saying it's not worth it.

Funny that, it's not what you told me when you listed it.

[flare]

The rule of thumb has long been to list at twice what you paid to have it built- the problem there is that so many people bought land at the top market price (say, a decent half rai at 2-4 million in a mid-level spot) and then dropped a 4mil house on it, and then list it at 12-15mil when it's still very possible to buy land and build a similar house for the original price- most people in the market are aware of this and (if they're considering a move to Samui) decide to build themselves rather than pay a ridiculous price- the agents are well aware of this, and won't waste time showing an over-priced property.

When they tell someone the land/house they have 6-8mil into might only sell for 7-10mil, they often reject the idea out-of-hand. If a house goes on the market for a really good price the agents are all over it- it's not so much 'laziness' on their part but rather realism- it gets old trying to sell the same overpriced house over-and-over.

[voodoomagicman]

Our house is listed at a lot less than the land/build cost would be now, however the size of the house and the global economy work against a sale. The agents here encourage you to set the price as they have not really got a clue. As there is such a variation of size, views, build quality etc it is very hard to predict a sale price. Much easier for example in a street of semi detached houses in England, to give a pretty accurate valuation.

Quite a few actually turned us down as their books are too full and they just have not got the time to come and value, market etc.

Just for the record I actually valued and set the price lower than all the valuations, you have to do your own research and browsing of other properties to form your own realistic valuation.

[churchill]

No buyers No Sellers No agents just cowboys ..

CBRE opened and shut within a few months ..leaving just 1 sentry at Conrad waiting to take commission ..

[churchill]

Trapped in Paradise.......

[robsamui]

I also wonder about the role the internet plays in all this. If we go back a generation or two there were only two alternatives that any seller had - either sign up with a real-estate agent or try to sell privately via local newspaper ads. Everything was localised back then - a local realtor sold local properties with photos in the window of a local shop. The agents were keen to look like they were doing some work for their fee.

But now, what use is an agent when you can advertise your property all over the world to a world audience? Why pay an agent to do what you can do yourself?

So is this what's happening and why the agents and land sales people are dying out? Are sellers going down this path?

I have no experience with any of this so I have no idea. But it seems logical.

R

[motocrosser]

I have had more people look at my house from the boards in big c and tesco than any of the 8 agents i have my house with!but still cant sell after 4 years,will have to wait,its the same all over the world.

[Boater]

I have had more people look at my house from the boards in big c and tesco than any of the 8 agents i have my house with!but still cant sell after 4 years,will have to wait,its the same all over the world.

So surly if your house has been on the market for 4 years , people have viewed , it's with all the agents , the price might be too high ? Property is selling in Samui , pattaya , Phuket and Bangkok .. But it is a buyers market and not a sellers market .

[motocrosser]

I am not alone as i know that many of my friends have been trying to sell the same as me.an agent told me the other day she sold a villa with 5 beds and pool and sea view for 11m baht,so how can anyone compete with that!some people are just wanting to get out and it puts the real prices of the resale down,you look at the websites around the island and there is so much to choose from,but no one really out there to buy.

[voodoomagicman]

Boater is that Surly a typo. Made me chuckle. 1 tip for any prospective sellers, Chinese and russian adverts. Possible have Chinese business consultants interested at full asking price. If you REALLY want to sell how much is a few thousand baht for a translation and post. Euro market is dead at the mo, without comprimising my source, much land and Very large property has just gone east, food for thought !

And that was Surat thani too. Am amazed.B

[PattayaPhom]

I have had more people look at my house from the boards in big c and tesco than any of the 8 agents i have my house with!but still cant sell after 4 years,will have to wait,its the same all over the world.

If you are advertising the price and customers are still coming to view then it must be the property is unapealing decorative or bad neighbours. Do you get feedback from the viewers, surely if you have had so many you must have an idea of what is wrong

[Rooo]

Let me tell you, that most agents ,I said most don't even ring you back with any info regarding their visit, let alone feed back from the client's perspective.

[Tropicalevo]

If you are advertising the price and customers are still coming to view then it must be the property is unapealing decorative or bad neighbours. Do you get feedback from the viewers, surely if you have had so many you must have an idea of what is wrong

That's a huge jump in assumptions. There are thousands of reasons as to 1) why people look at properties, and 2) people do not buy properties.

To blame only decor or neighbours is naive.

When I bought my land I rejected a load of places for dozens of reasons - neighbours was never one of them. Location was a major factor for me.

I have had people trying to look at my house and it is not even on the market! AND I have had people offering to buy it and the decor is <deleted>! (I do not like decorating).

I agree with Rooo - the major issue is the lack of skills/professionalism by the agents.

eg Prospect says "I am looking for a 3 bed house with sea views and a pool. Must be safe for kids and walled for the dog".

The agent will take them to almost every property on their books, regardless of match or mis-match to requirements.

[PattayaPhom]

If you are advertising the price and customers are still coming to view then it must be the property is unapealing decorative or bad neighbours. Do you get feedback from the viewers, surely if you have had so many you must have an idea of what is wrong

That's a huge jump in assumptions. There are thousands of reasons as to 1) why people look at properties, and 2) people do not buy properties.

To blame only decor or neighbours is naive.

When I bought my land I rejected a load of places for dozens of reasons - neighbours was never one of them. Location was a major factor for me...

I have had people trying to look at my house and it is not even on the market! AND I have had people offering to buy it and the decor is <deleted>! (I do not like decorating).

I agree with Rooo - the major issue is the lack of skills/professionalism by the agents.

eg Prospect says "I am looking for a 3 bed house with sea views and a pool. Must be safe for kids and walled for the dog".

The agent will take them to almost every property on their books, regardless of match or mis-match to requirements.

If you inquire about a house you should already know if its a bad location or not so wouldnt bother going to view in the first place. What are the thousands of reasons people look at houses for sale...OK you get the tyre kickers that are dreamers but what other 999 reasons are there?....and as the viewers have mainly been from motocrossers own advertising you cant blame agents for lack of feedback, motocrosser should surely being following up the clients and asking these questions....if any agent does what you said I think they should look for another proffession.

[Tropicalevo]

....if any agent does what you said I think they should look for another proffession.

I totally agree.

But that is what happens here. To compound the problem, when the prospect cannot find the appropriate property with the first agent, they go to the next agent, who.....

you guessed it - takes them to the same old places in lots of instances.

I even had one prospect who was brought to look at the same house three times by three different agents.

[PattayaPhom]

....if any agent does what you said I think they should look for another proffession.

I totally agree.

But that is what happens here. To compound the problem, when the prospect cannot find the appropriate property with the first agent, they go to the next agent, who.....

you guessed it - takes them to the same old places in lots of instances.

I even had one prospect who was brought to look at the same house three times by three different agents.

You have summed it up, its not only agents but customers and owners that are to blame as well....why on earth dosnt the customer tell the agent what he has already viewed, and as an owner you always find out customer details, name, nationality etc.

[Tropicalevo]

You have summed it up, its not only agents but customers and owners that are to blame as well....why on earth dosnt the customer tell the agent what he has already viewed, and as an owner you always find out customer details, name, nationality etc.

I agree with the first point about the prospects, but I find that the agents here do not want to give any details of their 'customer' - just in case you try to by-pass the agent, which I would never do - I live here for goodness sake and I try to be fair in all of my dealings.

However, I do know one owner who tried this one when selling her property. She was trying to save the commission and she contacted the buyer directly. Guess what - no sale.

Back to the original point - I suspect that we have not bottomed out yet. Most currencies are struggling against the baht and the days of people buying a holiday home and visiting every year seem to be a thing of the past - until the economy lifts. Which it will do eventually - but not yet. Until then - falling prices on sales and rentals I think. Tighten your belts folks. That is my 2 cents worth.

[Rooo]

I think one market drops , another one opens. no different then the change in source of tourist arrivals. European sector slowing down, but eastern European & Asian strentghtening.

[BigC]

Most of the real estate agents on Samui are NO HOPERS. Uneducated,no skills, couldn't qualify a buyer if they fell on him. They only sell a price or their own projects.

So really what hope have you got of getting any info, if they don't even know what they are talking about.Ask 10 you will get 10 unqualified rubbish answers.

Churchill, you are flattering the worst, seeking info.

agreed there are som many people that are high on google but fr real have no address. sit up dtair with their lap top and pulling n customers with terrible service for the leasee and the leaser with hight commission.

some agencies charge mor commission that england yet in england te commission includes the whole looking after of your place.

here they take your money then hand over the customer. then it is the leasee problem.

If a customer hasa problem the letting agency ignores there phone calls.

in other words a big mess.

As people book from over seas and the agency lies about a place saying they have private car hire. private driver. all other sorts of benifit but fo real the owner of the propert y never prmised these things which leaves a big mess on ones door step

[PattayaPhom]

Most of the real estate agents on Samui are NO HOPERS. Uneducated,no skills, couldn't qualify a buyer if they fell on him. They only sell a price or their own projects.

So really what hope have you got of getting any info, if they don't even know what they are talking about.Ask 10 you will get 10 unqualified rubbish answers.

Churchill, you are flattering the worst, seeking info.

agreed there are som many people that are high on google but fr real have no address. sit up dtair with their lap top and pulling n customers with terrible service for the leasee and the leaser with hight commission.

some agencies charge mor commission that england yet in england te commission includes the whole looking after of your place.

here they take your money then hand over the customer. then it is the leasee problem.

If a customer hasa problem the letting agency ignores there phone calls.

in other words a big mess.

As people book from over seas and the agency lies about a place saying they have private car hire. private driver. all other sorts of benifit but fo real the owner of the propert y never prmised these things which leaves a big mess on ones door step

Not all letting agents are like this.....yes there are some but there are also a lot that do a good job and have repeat customers and recomendations.

Its the same as anything, most people only talk about bad service and not good.

[Rooo]

Not all letting agents are like this.....yes there are some but there are also a lot that do a good job and have repeat customers and recomendations.

Its the same as anything, most people only talk about bad service and not good.

Firstly I said most & I am talking about selling agents.