BlackPuddingBertha Posted December 2, 2012 Share Posted December 2, 2012 Glad to see someone posted the % for UK agents I knew just 1% was dreamland. The figures quoted seemed to confirm the dream: "A bit research saw following numbers, for January 2012: Average commission: 1.8% Highest commission: 2.5% Lowest commission: 1% (15% of the agencies)." And the other UK figures quoted are, of course, negotiable. No matter how anyone looks at it, there is one hell of a difference between 1% / 1.5% / 1.8% and 5% / 6% / 10%. Link to comment Share on other sites More sharing options...
alexanderthai Posted December 2, 2012 Share Posted December 2, 2012 3% is Thai standard. Over than that is over charged. Link to comment Share on other sites More sharing options...
dickie58 Posted December 2, 2012 Share Posted December 2, 2012 3% is Thai standard. Over than that is over charged. I agree that 3% is the correct rate. If all the agents charged that to all resedential customers & condo developers, I think its fair to say a lot of the RE agents in Pattaya would be gone, there are so many of them here now, & more opening every month. Ask yourself why?? Link to comment Share on other sites More sharing options...
dickie58 Posted December 3, 2012 Share Posted December 3, 2012 Glad to see someone posted the % for UK agents I knew just 1% was dreamland. The figures quoted seemed to confirm the dream: "A bit research saw following numbers, for January 2012: Average commission: 1.8% Highest commission: 2.5% Lowest commission: 1% (15% of the agencies)." And the other UK figures quoted are, of course, negotiable. No matter how anyone looks at it, there is one hell of a difference between 1% / 1.5% / 1.8% and 5% / 6% / 10%. When i went back to my home in West London in October this year for my annual short trip, i met up with some freinds who have been involved in the property buisness for years, none of them are RE agents i might add, but they do renovate old houses & re-sell them, & as i say they've been doing it for years & doing very nicely out of it I might add. They said agents in that area are happy with 1.5% comm, Richmond upon Thames area isn't cheap. Even if the agents sell a house here for 3m Baht, @ 5%, there still getting 150,000bht comm, not bad for what is usally no more than a days work? They all use to charge 3%, & a few stil still are. As soon as the property market died, they increased there comm to 5%, so less work/clients for more comm in my eyes Link to comment Share on other sites More sharing options...
BlackPuddingBertha Posted December 3, 2012 Share Posted December 3, 2012 They all use to charge 3%, & a few stil still are. As soon as the property market died, they increased there comm to 5%, so less work/clients for more comm in my eyes That is my impression also. Link to comment Share on other sites More sharing options...
PattayaPhom Posted December 3, 2012 Share Posted December 3, 2012 3% is Thai standard. Over than that is over charged. I agree that 3% is the correct rate. If all the agents charged that to all resedential customers & condo developers, I think its fair to say a lot of the RE agents in Pattaya would be gone, there are so many of them here now, & more opening every month. Ask yourself why?? Business normally open as there is a need, real estste is the same as anything, so you have answered your own question, Link to comment Share on other sites More sharing options...
BlackPuddingBertha Posted December 3, 2012 Share Posted December 3, 2012 Business normally open as there is a need, real estste is the same as anything, .... Are you seriously suggesting that there is any need for all of the untold thousands of massage parlours, fish doctor stalls, t-shirt shops, luggage shops and beer bars across Pattaya? Most of them seem to be empty nearly all the time, just like most estate agents. No, all these shops open up because of the copycat effect, and mostly they end up having to share enough custom for one shop between 20 of them. They only reason they keep going at all is because costs are low and prices (aka commission) are kept high by the cartel mentality that pervades all commerce in Thailand. Look at the electronics shops in Tukcom for a good example, and then compare with the condo stands in Central. Same same. Link to comment Share on other sites More sharing options...
DLock Posted December 3, 2012 Share Posted December 3, 2012 Chalk and Cheese. In the UK and USA you have to be certified to be a real estate professional. There are standards, consumer protection and associations. There is "real" Escrow and mortgages and the legalities of ownership is clear and defined and the Land Office can be trusted. And Real Estate agencies do advertising, brochures, photo shoots, listings, auctions...etc etc. In Thailand any chump can make a website, rent a shophouse, hire a pretty, print a business card on his laser printer and suddenly he's a Realtor. Try asking about laws, leasing, company structures, title searches, zoning, regulations, transfer fees, taxes, access laws, setbacks, etc etc... The road to property ownership in Thailand is already lined with landmines and you want a blind man to lead you through it...and pay them 5% for the priveledge? Funny. Link to comment Share on other sites More sharing options...
PattayaPhom Posted December 3, 2012 Share Posted December 3, 2012 Business normally open as there is a need, real estste is the same as anything, .... Are you seriously suggesting that there is any need for all of the untold thousands of massage parlours, fish doctor stalls, t-shirt shops, luggage shops and beer bars across Pattaya? Most of them seem to be empty nearly all the time, just like most estate agents. No, all these shops open up because of the copycat effect, and mostly they end up having to share enough custom for one shop between 20 of them. They only reason they keep going at all is because costs are low and prices (aka commission) are kept high by the cartel mentality that pervades all commerce in Thailand. Look at the electronics shops in Tukcom for a good example, and then compare with the condo stands in Central. Same same. I think the running costs have been discussed already.....any idea on web hosting fees?.......taxes?....etc etc etc etc etc etc etc...... Link to comment Share on other sites More sharing options...
PattayaPhom Posted December 3, 2012 Share Posted December 3, 2012 Chalk and Cheese. In the UK and USA you have to be certified to be a real estate professional. There are standards, consumer protection and associations. There is "real" Escrow and mortgages and the legalities of ownership is clear and defined and the Land Office can be trusted. And Real Estate agencies do advertising, brochures, photo shoots, listings, auctions...etc etc. In Thailand any chump can make a website, rent a shophouse, hire a pretty, print a business card on his laser printer and suddenly he's a Realtor. Try asking about laws, leasing, company structures, title searches, zoning, regulations, transfer fees, taxes, access laws, setbacks, etc etc... The road to property ownership in Thailand is already lined with landmines and you want a blind man to lead you through it...and pay them 5% for the priveledge? Funny. Very true, there are many 'chumps' in the business but also many that know what they are doing and have repeat business/referrals...same there are bad taxi drivers, shop assistants, chefs, dentists, fork lift drivers, English teachers. Link to comment Share on other sites More sharing options...
CHdiver Posted December 3, 2012 Share Posted December 3, 2012 Business normally open as there is a need, real estste is the same as anything, .... Are you seriously suggesting that there is any need for all of the untold thousands of massage parlours, fish doctor stalls, t-shirt shops, luggage shops and beer bars across Pattaya? Most of them seem to be empty nearly all the time, just like most estate agents. No, all these shops open up because of the copycat effect, and mostly they end up having to share enough custom for one shop between 20 of them. They only reason they keep going at all is because costs are low and prices (aka commission) are kept high by the cartel mentality that pervades all commerce in Thailand. Look at the electronics shops in Tukcom for a good example, and then compare with the condo stands in Central. Same same. After you did mention massge parlours,..... do you think we should tip a real estate agent if he sold a property? Link to comment Share on other sites More sharing options...
BlackPuddingBertha Posted December 3, 2012 Share Posted December 3, 2012 .....any idea on web hosting fees?.......taxes?....etc etc etc etc etc etc etc...... Actually I do indeed have an excellent idea of web hosting fees, having built and run some 150 or so for myself and for others with great success. What I can tell you is that web-hosting/SEO companies in Thailand are even bigger BS artists than estate agents are, and whilst the bills they send out may be high the costs are actually quite small. As for taxes and other costs, no matter how you look at it they are all just a tiny proportion of what they would be in the UK, for example. Link to comment Share on other sites More sharing options...
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