Real Estate Licensing and Knowledge

[georgegeorgia]

I have been doing a bit of research lately on investing and I have spoken to quite a few Real Estate agents in both Pattaya and other places.

Now some advertised on their website they have a degree in real estate from their home countries others advertise they are with or belong to groups such as the Real Estate institution of Thailand,and all similar named organisations theres even one agent who advertises he is with the the Professional Pattaya Real Estate Council and follows their code of conduct,there seems to be only his office phone number for that Council though.

The next thing is knowledge,recently i came across an agent who was trying to sell me a property and had no clue of what a yellow or blue book was.

I realise some of these guys are "travellers" and pick up salesmen jobs but this guy had his own name on his shop.

So my questions are...Are Real Estate agents licensed here in Thailand?

Is there any courses or education colleges here that they must complete before operating?

Is there any Code of Conduct ?

[mike324]

Of the 20+ years living here, don't recall ever heard an agent toting about their real estate license. Most folks just set up a company and hit the road.

[Anthony5]

one agent who advertises he is with the the Professional Pattaya Real Estate Council and follows their code of conduct,there seems to be only his office phone number for that Council though.

So he can't even afford a second phone number to at least cover up his fake qualifications? Let me guess is that agent by any chance an American who makes a lot of NOISE?

[AnotherOneAmerican]

Real estate is a prohibited occupation.

Thai only.

If they are dealing and not Thai, they are not legit.

Ask to see their work permit!

They either don't have one, or have one for some other occupation (Office manager is popular).

[georgegeorgia]

Real estate is a prohibited occupation.

Thai only.

If they are dealing and not Thai, they are not legit.

Ask to see their work permit!

They either don't have one, or have one for some other occupation (Office manager is popular).

interesting.........I saw one in Jomtien who not only advertised his own name but even drove you out to look at the property.

[Noi657]

Being stuck behind a desk is allowed!

Going out to meet clients, taking photos etc is prohibited.

So anybody that meets you at a condo, house etc to show you around, is indeed working illegally!

That's why most agents will be accompanied by a thai.

[AnotherOneAmerican]

Real estate is a prohibited occupation.

Thai only.

If they are dealing and not Thai, they are not legit.

Ask to see their work permit!

They either don't have one, or have one for some other occupation (Office manager is popular).

interesting.........I saw one in Jomtien who not only advertised his own name but even drove you out to look at the property.

Did you see his work permit?

First question to ask any foreigner wanting your business,

"Can I see your work permit?"

If they can't immediately produce it, they are working illegally.

Foreigners are required to have their work permit on them any time they are working.

If you're happy to do business with a criminal, then you won't care about this.

[watcharacters]

My understanding as to where the real estate process breaks down in Thailand is where the selling price is reported to the land office. It's given as a low figure for the fees and etc so the agent would be hamstrung to collect his owed commission.

I wonder why others feel it's such a random or primitive industry in Thailand?

[KittenKong]

So my questions are...Are Real Estate agents licensed here in Thailand?

Is there any courses or education colleges here that they must complete before operating?

Is there any Code of Conduct ?

No, no and no.

Anyone can become an estate agent here overnight, including all sorts of convicted criminals.

This is probably why it is such a popular business to be in.

[rgs2001uk]

Have just done a Google search for both of those institutions, can you guess the results before googling for yourself?

[KittenKong]

Have just done a Google search for both of those institutions, can you guess the results before googling for yourself?

Yes!