Power of attorney necessary for real estate agent?

[Kellymander]

Hi guys, I just bought a condo in Bangkok, and I'm ready to rent it out, and I haven't been able to easily find real estate agents (I'm not resident here more than two months a year), and through a friend I've found an agent, albeit a lady who is sort of a freelancer. She does this on the side, apparently.

a. is it normal to sign a power of attorney (one apparently from the states, with room for a notary public seal, but not notarized, just to be signed by me and a witness) over to a real estate agent when renting out a place?

b. Please feel free to abuse me if I have already asked stupid questions, the abuse I receive is still better than losing my nest egg....

also, any suggestions/recommendations for good real estate agents would be heartily welcomed.

[KittenKong]

I certainly wouldn't sign something like that.

If you really want to give them POA then it should be limited to things like engaging tradesmen for repairs up to a certain amount, paying normal bills up to a certain amount, and to finding tenants at a rental price decided by you and collecting said rent and deposits from them on your behalf.

Good real estate agents are as rare as hookers with a heart of gold. In fact the two professions are very similar in many respects.

[1kate1]

Do Not Sign Anything ........Before you know it she will be down the land office with your signature few baht under the counter and you have lost everything........there are agents who can handle your rental.....they have premises on main roads and are LEGAL.

[jack1964]

Do not pass go, straight to a registered agent, can all be done over the phone or by email, do not sign anything other than the rental agreement in English, and don't use anyone who freelancers in

Thailand. Friends living in Thailand mixed with freelance workers, power of attorney, NO WAY ...... As you said, its a nest egg. Don't scramble it.

[bocceball1]

Agree with everything already said. The power of attorney you showed is a General Power of Attorney. She can sell the property, basicly do what ever she wants with it. A license to steal. A "Limited Power of Attorney" would be more appropriate ....limiting in this case to signing leases on your behalf, collect rents, etc. But I don't believe that you necessarily need to give someone a power of attorney to do these thing here in Thailand. Looks like you're getting set up ....move on ....find a "real" real estate agent.

[PattayaPhom]

I certainly wouldn't sign something like that.

If you really want to give them POA then it should be limited to things like engaging tradesmen for repairs up to a certain amount, paying normal bills up to a certain amount, and to finding tenants at a rental price decided by you and collecting said rent and deposits from them on your behalf.

Good real estate agents are as rare as hookers with a heart of gold. In fact the two professions are very similar in many respects.

Just in what way are hookers and estate agents the same?

[KittenKong]

Good real estate agents are as rare as hookers with a heart of gold. In fact the two professions are very similar in many respects.

Just in what way are hookers and estate agents the same?

I thought everyone knew that old chestnut.

They both screw you for money.

Edited August 27, 2013 by KittenKong

[PattayaPhom]

Good real estate agents are as rare as hookers with a heart of gold. In fact the two professions are very similar in many respects.

Just in what way are hookers and estate agents the same?

I thought everyone knew that old chestnut.

They both screw you for money.

Pretty much like the unqualified English teachers and wannabe website designers etc etc etc that are in Thailand. At least agents pay company taxes and provide a valuable service