Real estate agent asks commission but i signed no contract

[happypailiving]

Hi everyone,

About a year ago i bought a business in pai,mae hong son.A year later i decided to sell it again.It took my a few months before i could actually find a reliable buyer,Which i eventually did.The last month before it got sold,i went to a real estate agent in pai to see what she could do for me because i just had a month and a half to go on my visa and i did not know if it was going to be sold yes or no.She came and have a look at the property and i asked her how much it would be worth.She did not know and presented me with a contract that states that she will get 5% commission if she would find a buyer.I did not signed it and said to her that i would think about it.So a week later she called me to say that she found a buyer and that he is very interested.So eventually the buyer told me he went to her office and she had no time to show him the property and that he found her "strange".So to make a long story short She asks for 3% commission which i find a lot for a short phone call,no publicity and no time showing a buyer the property and best of all no contract.I know this is not europe but i mean what can she do?

So any help on this matter would be greatly appreciated.

[koo wallety tourist]

removed <i dont know enough to make a valid comment. out of my area of knowledge>

Edited February 22, 2015 by koo wallety tourist

[KittenKong]

It sounds like the agent did indeed find you your buyer. If so you are morally bound to pay her. Given the little effort she apparently put into it, some negotiation of the % would be in order.

[Rancid]

You sold the business through her buyer, generally a business gets a higher rate than 5%, even without a contract you don't feel morally obliged to pay her a commission?

Do the right thing.

[Muzarella]

Unfortunately real estate is not regulated in Thailand, and many agents may advertise and/or find a buyer for a property without any contract.

Pay commission to an agent that found a buyer without a contract it is a norm here, even if sometimes get complicated if there is not a direct probe that the agent was initiating the sale. In your case, looks like the agent got you the buyer, and you have moral obligation to pay its commission because you initiated the contact with the agent, and did used its services. Anyway, 3% is a normal sale commission here for real estate, and makes sense, because it is not really easy to find buyers for some kind of properties. You may negotiate the amount if you think is too high.

Edited March 1, 2015 by Muzarella

[casualbiker]

So let me get this straight. You were having difficulties selling your business. You asked for a business sales agent to try and sell the business but didn't sign a contract, but did see a contract. They then FOUND a buyer for your business. Which I presume you sold the business to. Now you are complaining that the agent has actually asked you for a commission on that sale. A commission that is actually 2% less than the one on the contract. That's very poor of you. Think. Would you have sold the business if NOT for this agent. By undertaking the sale via the agents buyer you have a verbal contract. And should pay something.. Even if just a nominal fee.

How much did the agent earn you when she enabled the sale if your business?