Why would you use a real estate agent in CM to buy a house.

[mamborobert]

I'll start off by stating that I am not entirely sure why I am starting this topic. It is perhaps motivated by disgust, frustration, or as a public service, or amazement, or as embarrasment for the agents,cringe factor for westerners, but in the end leans heavily to incredulity.

I have been looking at moving to a larger property in Doi Saket (over 5 rai). Did the usual searches of internet sites (both English and Thai) to gain an idea of what the absolute delusional top price would be before starting off for a general cruise round the area for the much cheaper, recent and comprehensive signs on fences/walls/houses in the area method.

One property took my interest, recently advertiseed on the internet by western CM locally owned/operated real estate agents had the exact same property (land size, house size, house features, district and photos...so certain the same) advertised on one site for 12 0000 baht and on another site at 9 300 000 baht.

So straight of before any discussion we have a 2 700 000 baht difference!. That is essentially another house or another good condo!

Putting aside the actual price how does an agent justify an almost 30% differential in price. Don't they check competitors and adjust the price if they see that one (or several) agents have the same property at a dramatically different price or is it a case of chancing it that a potential purchaser just checks one site? Do they work out that below a certain price it is not worth their effort or return? Is this a case of a business model based in the belief/hope/fact that potential purchasers don't compare? Is it that there is a sucker born every minute, if so what does that say of the professionalism/ethics/integrity/reputation or desire for repeat business. Have they become "Thai" with dual pricing?

In a country where everything is negotiable why would you start of with such an obvious ridiculous difference. The top price does not put me off...but being treated or suspected of being a mug does. Would not even ring the top price agent when they are so contemptuous but will ring the other if my own efforts for a comparable property fall short or on inspection my interest in the advertised property is confirmed.

In the end incredulity won out. Nothing short of blatant predatory practices focussing on an innocent, unfamiliar, or trusting prospective purchaser going through a significant decision with different laws and different language.

There is no significant value adding with using an agent in CM (lawyer being different)...better to do youself and let wife/children get commission,

Do it yourself, buy or rent..search and find (public service announcement component of post)......rant over.

Edited September 29, 2013 by mamborobert

[Beetlejuice]

Don`t use estate agents, full stop.

Edited September 29, 2013 by Beetlejuice

[worgeordie]

Some people have to have their hand held, in this matter and most things

in their lives.they have difficulty thinking for them selves,just take some posts

on here as an example, i.e. where do I buy toilet paper,OK i have not seen

that one yet,just waiting.

regards Worgeordie

[kaptainrob]

I wonder if said DS property is the one with many trees, creek, and new (nearly finished) house. I know of one such large property ~7rai which was asking 11m but may be bought for say, 8m.

Not unusual for some 'agents' to be out of the loop... it's not exactly a 'profession' in Th.

[DaamNaam]

Don`t use estate agents, full stop.

I'll second that.

[Loaded]

Big C offers a tin of baked beans for 50p and TESCO has it for 57p. That's the last time I use supermarkets.

Edited September 29, 2013 by Loaded

[kalbo123]

Why would you want to buy a house or land you cannot own anyway?

[Thighlander]

I was told their was 80 rai available in Phayao. Price is 2000 per TW, but Thai could buy for 1500.

[Torrens54]

Checked out some so-called Real Estate Agents in CNX about 7-years ago. They had little or no idea of anything much about the properties. including the prices. Their quoted prices seemed to go up and down, every time you talked with them.

We simply bought a place from one of the Banks and our Lawyer did all the paper-work for a very reasonable price.

[Thighlander]

A lot of the realtors are shills fro new housing developments.

[beau thai]

So the vendor engages an agent and they agree 9.3m as the asking price. Another agent sees the property advertised, calls the vendor and says put it with me instead, I can get you 12m. Vendor says ok but doesnt bother to call first agent.

Maybe that is how your scenario evolved?

I find using an agent very helpful, but you have to be careful who you use-caveat emptor.

[jbrain]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

[sustento]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

[jbrain]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

[sustento]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

Understood.

[hellodolly]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

You might have mentioned that in your OP now it makes sense.

[jbrain]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

You might have mentioned that in your OP now it makes sense.

I was of the opinion that people who live in Thailand wee aware how these crooks work. The practices that i describe are common among Thai real estate agents.

I had another one, i actually had many, who called me and when I asked him if he was an agent as i don't wanted them, he said no I just call for my sister who's looking for a place .

I did smell a rat already, but nevertheless agreed to let him come around. They arrived and his " sister " didn't even ask a single question but started to shoot pictures as if her life depended on it.

Actually she was right, because I made them run for their life.

Edited September 29, 2013 by jbrain

[bigbamboo]

We are selling a house and got three significantly differing quotes (happens in the UK too though) and there I decided to go with a sole agent whose figure was the closest to the insurance company's valuation.

If you're buying it might be an idea to try and find out how much it is currently insured for.

Assuming it IS insured of course!

Edited September 29, 2013 by bigbamboo

[ktm jeff]

Thats how i read it - 1,700 000 bath minus 3 % commission. Should have just filled the form in at 1.7 m. Naughty of the "agent". Seems best to ride / ask around , then get a REALLY good solicitor.

[Chiengmaijoe]

Why would you want to buy a house or land you cannot own anyway?

Pavlov would have had a field day with you guys. I'm surprised it only came in at post no. 7 . A bit slow off the mark there.

[Chiengmaijoe]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

So you would have received your asking price of 1,500,000, minus the 3 percent that you agreed, but because he was smart enough to get more for your house than you thought it was worth, you kicked him out . I understand.

I assume you eventually sold it for 1.7m yourself, right?

[mesquite]

Why would you want to buy a house or land you cannot own anyway?

A very good question. This is the only country in the world that I'm aware of where it's common for western men to buy houses for their wives. We hear and see this so often here that it actually seems normal.

[Loaded]

Why would you want to buy a house or land you cannot own anyway?

A very good question. This is the only country in the world that I'm aware of where it's common for western men to buy houses for their wives. We hear and see this so often here that it actually seems normal.

It's also quite normal in the West for the husband to pay the mortgage and after a divorce the woman keeps the house.

[Thighlander]

Insurance will be for replacement cost or the loan amount, and can vary greatly from market value of the house and land it is on. The land can be worth more without the house.......

[elektrified]

Why would you want to buy a house or land you cannot own anyway?

A very good question. This is the only country in the world that I'm aware of where it's common for western men to buy houses for their wives. We hear and see this so often here that it actually seems normal.

It's also quite normal in the West for the husband to pay the mortgage and after a divorce the woman keeps the house.

Ah, but title is vested jointly. Actually the above scenario is somewhat a thing of the past in places like liberal California USA. In some European countries (Spain for example) a man would never end up screwed like that.

[jbrain]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

So you would have received your asking price of 1,500,000, minus the 3 percent that you agreed, but because he was smart enough to get more for your house than you thought it was worth, you kicked him out . I understand.

I assume you eventually sold it for 1.7m yourself, right?

When I sell MY house then I will decide at WHAT PRICE I want to sell it, NOT a dodgy real estate agent who want to waste my time to make some extra profit. It was obvious that his customers were not interested at the 1.7 million, because I only found out about it because the plonker thought I didn't understand Thai when he started discussing and discounting the price with his customer right in front of me .

I hadn't asked for his services in the first place, and I sold it within the next week at my original asking price, maybe because I have some ethics i want to adhere to.

You're by any chance a real estate agent ?

Edited September 30, 2013 by jbrain

[eden8]

Last year I had a townhouse for sale at 1.500.000 Baht. I refused to use real estate agents for the sale, but at one point a Thai agent calls me and says he has a customer that's interested and ask if he can get a commission if he can sell. He tells me he wants 3% with which I agree and we make a viewing appointment later that day.

He shows up with the customer and I find out that he asked 1.700.000 for the house.

Have you ever seen someone running 15 meters with touching the ground only twice. That was such an occasion.

I know I'm probably being very stupid but could you explain this to me please? If the agent sold the house for 1.700.000 and took his 3% commission of 51.000bt you'd receive 1.649.000Bt rather than the 1.500.000bt that you were asking.Have I missed something?

Yes you're missing something, because I would have received 1.500.000 minus 3% and the agent would have pocketed the extra 200.000 as a premium. Before he brought in the customer he wanted me to sign a document that stated my asking price, to which i refused.

That's how these crooks work.

I found out later by talking to the Thai customer, who called me after I had sold the house myself already, that she was also charged 3% if she would have bought the house at that time.

good to learn the trick of real estate agent..

[Chiengmaijoe]

So you would have received your asking price of 1,500,000, minus the 3 percent that you agreed, but because he was smart enough to get more for your house than you thought it was worth, you kicked him out . I understand.

I assume you eventually sold it for 1.7m yourself, right?

When I sell MY house then I will decide at WHAT PRICE I want to sell it, NOT a dodgy real estate agent who want to waste my time to make some extra profit. It was obvious that his customers were not interested at the 1.7 million, because I only found out about it because the plonker thought I didn't understand Thai when he started discussing and discounting the price with his customer right in front of me .

I hadn't asked for his services in the first place, and I sold it within the next week at my original asking price, maybe because I have some ethics i want to adhere to.

You're by any chance a real estate agent ?

No. Obviously a sensitive issue though.

Edited September 30, 2013 by Chiengmaijoe

[Rama]

Why would you use a broker? - because most new people coming from oversesas use brokers all the time overseas (including other Asian countries), so the first thing they do is to contact brokers. TO get maximum exposure to as many buyers, a seller should list with a lot fo brokers. THere is no MLS like in the US.

Prices from one broker to another can vary for 2 reasons - 1) one of the brokers is dishonest and pads the price to make more money (happens all the time, especially the thai agencies) and 2) the seller changed the price and notified one of the brokers and not the other (happens all the time)

A good broker will do a written listing agreement with a seller clearly stating what the sale price is and what the commission is. If you're buying, ask to see the listing agreement. If they don't have or don't do written listing agreements with sellers, then it allows the broker to play with the sale price...........

[jbrain]

So you would have received your asking price of 1,500,000, minus the 3 percent that you agreed, but because he was smart enough to get more for your house than you thought it was worth, you kicked him out . I understand.

I assume you eventually sold it for 1.7m yourself, right?

When I sell MY house then I will decide at WHAT PRICE I want to sell it, NOT a dodgy real estate agent who want to waste my time to make some extra profit. It was obvious that his customers were not interested at the 1.7 million, because I only found out about it because the plonker thought I didn't understand Thai when he started discussing and discounting the price with his customer right in front of me .

I hadn't asked for his services in the first place, and I sold it within the next week at my original asking price, maybe because I have some ethics i want to adhere to.

You're by any chance a real estate agent ?

No. Obviously a sensitive issue though.

Must be, since you and a few other have had strong objections to what was intended as a simple sharing of my past experience.