Any Advice on Selling a House?

[Lobo4819]

We are planning to sell our 2-3 BR home near Promenada, and were wondering if there were any positive suggestions from any members who have been successful at doing this themselves? Use an agent or not? Is there a price per sq meter formula? Any positive suggestions would be appreciated. Thanks.

[kaptainrob]

Thai way is to calculate (local) land value + house replacement (new) and add all improvements + furniture. Hang a For Sale sign on gate and tell all neighbours ... list on Thai Visa ... naturally!

[moradave]

Get an appraisal of the going market price.

Set your asking price at 10% less.

Send email with picture, appraisal and asking price to every realtor operating in your area. Tell them if they sell the house within 60 days you will give them commission 1% higher than the going rate.

Worked for me in Pattaya.

Edited February 19, 2014 by moradave

[mr chow]

Here's a very positive suggestion. Don't tell your wife your selling .

Sent from my iPad using Thaivisa Connect Thailand

[moradave]

Here's a very positive suggestion. Don't tell your wife your selling .

Sent from my iPad using Thaivisa Connect Thailand

The member is asking for constructive suggestions. This is what I am sending him.

[Beetlejuice]

Whether or not a real estate agent would be willing to take on your property depends on how much it is worth? Most will not show interest in land and properties of the lower end market price brackets. This is because they seek big commissions for doing sod all and most will show little interest in the bottom end of the real estate market. But by all means it maybe worth making inquiries.

The Thai way of selling land and property is by word of mouth. The usual commission paid to anyone who brings a sale to land or property by recommendation is 3% of the sale price. One main resource they use is the local taxi drivers. The driver is given some basic written details and will bring attention to his passengers and contacts that a real estate is up for sale. Also the Thais will spread the word with their neighbors, families, friends and work colleges. Some will give details to their local shops and market vendors, the 3% commission being an incentive.

There is a major Thai advertising newspaper in Chiang Mai, which has good results that many Thais use to sell their items, vehicles and real estate. I have used this newspaper myself in the past but unfortunately cannot remember the name of it. Their shop is located in Chiang Mai Land. Perhaps your wife will know, the paper is well known.

Also there are the online classifieds, including Thai visa and many others on the Internet and of course placing a big for sale sign outside your house is also a good idea.

One last point is; best method to establish the on going market values of similar properties in your area, is to make inquiries with the local people and especially worth viewing any that are already up for sale, plus checking out online real estate values in the area.

Hope this helps?

[Dario]

A very good place to sell anything is BahtSold. I sold a house in Pattaya on that portal.

[jij]

http://bangkok.craigslist.co.th

if it does not sell in 3-6 months the price is too high. i've sold two houses this year and learned this lesson after my first house was on the market for two years. dropped the price to where it should be and people were standing in line to buy it. my ego was in the way.

[TexasRanger]

A house is only worth what someone will pay for it. Look what other similar houses are NOT selling for and drop the price a bit if you have to.

A sign outside with a phone number in Thai and English, I know quite a few who have successfully sold like this compared to using an agent. Above all be realistic.

[janpharma]

Don't accept personal financing suggestions...

[phuket43]

I second that. Just sold my house in Phuket via B&S. Avoid agents to the extend posible. They are only in for the commision and basically do nothing. Presuming you are selling a house and the land; get your shareholders, if any, to sign share transfer certificates, which will simplify the transfer of your company to thenew owner. This can be done well in advance of the sale. Moreover, when establishing the value of the land and the house, make sure the land is valued as much as possible. This will reduce the taxes on the house you have pay.

A very good place to sell anything is BahtSold. I sold a house in Pattaya on that portal.

[stigvinck]

First of all advertise your house on every classified website you can find.

Hang a sign outside the house

Talk to neighbours, friends, family, and everyone else you meet about the house you have for sale. Promise them something if they find a buyer.

And use agents...

Now this topic has been discussed many times. Are they lazy? Are they any good? Do they deserve the commission?

You'll have to ask yourself what your goal is. To find a good real estate agent or to sell your house? I presume the latter...

You will probably be frustrated by the modus operandi of some of the agents, but it should,'t matter, should it? All you want is a buyer, not an agent that becomes your friend.

So here's my advice...

Go on google and find 20 real estate agencies. Write down all their email addresses.

Prepare an email with the folowing :
- Write up about the house

- as many details as possible (size of land, size of house, specs, bedrooms, bathrooms, selling points,...)

- location map

- Add a set of nice photos

- Your contact details and of course asking price.
basically make it easy for them. If you don't then half of them won't reply to the email or list your house.

Now send that email off to every agent. More than half will probably not even reply your email. But most of them will list it. Once they have an inetersted buyer they will contact you.

Keep in mind that you are looking for a buyer, NOT for a good agent. So if an agent pisses you off or shows lack of proffessionalism, just keep calm and focus on the goal : the buyer! After all, it is the agent's job to find you a buyer and how he does that or how much work he puts into it shouldn't matter. Yes, he's in it for the money... He doesn't care about you nor the house, and why should he? The commission is what drives him, that's his job. If he gets you a buyer that means he did his job...

And be realistic. If a property isn't selling, there could be 2 reasons. Your marketing isn't good OR your price is too high. If you have covered the marketing part and no one shows interest then your price is too high. Simple as that..

Good luck!

Stig

[maderaroja]

if you are financially able to do so, consider leasing with the option to buy or leasing for a long term.

[steven100]

You get an agent. He places and add in his window and in the paper & online.

That's it. simple.

Why ask the question. ?

[maderaroja]

You get an agent. He places and add in his window and in the paper & online.

That's it. simple.

Why ask the question. ?

A person should never be criticized for asking a question. If you know the answer, supply it graciously. That is good manners.

[jpduggan]

Get an appraisal of the going market price.

Set your asking price at 10% less.

Send email with picture, appraisal and asking price to every realtor operating in your area. Tell them if they sell the house within 60 days you will give them commission 1% higher than the going rate.

Worked for me in Pattaya.

Well I'd love to be buying a house from you,not much of a business brain there. You advise the guy to set the asking price at 10% less than the current market price and you want him to offer the realtor vultures 1% extra. Are you joking?

[WinnieTheKhwai]

^ Might think that through once more. The goal is to actually sell. And to do that, he's selling for a good price ("good price" always being the magic words when it comes to sellign anything), AND offering a little extra to make a deal happen.

Yes you make slightly less money, but a heck of a lot more compared to 'not selling'.

Talk about business brain. Once you do sell you actually have funds to use. If you don't sell, you're not doing anything, it's just unrealized potential. That was his point, and I fully agree with him.

Edited February 20, 2014 by WinnieTheKhwai

[sydneyboy]

You get an agent. He places and add in his window and in the paper & online.

That's it. simple.

Why ask the question. ?

Some will also ADD one or two hundred thousand bht on top of your price,

Have seen some agents add offering 1 price and then spoke to the owner and his price was lower.

Cut out the agent if you have enough other ways of advertising.