johninbkk Posted January 25, 2016 Author Share Posted January 25, 2016 Thank you to all that replied with suggestions. Better response than the agents. That's 3% you owe us then. Don't know where you live, in Pattaya the agents DEMAND 5%, and get this, Condo's give them 10 - 15%. So if anyone's buying a condo, ask for half his comm..... I assume you meant...New condo projects. Yes Link to comment Share on other sites More sharing options...
phitsanulokjohn Posted January 25, 2016 Share Posted January 25, 2016 Thailand has always been a buyers market.Pattaya especially.This is not the UK whereby you can put your property up4sale in the morning and by the same afternoon you have 4 viewings and offers coming in by the next morning. In Pattaya the housing market is saturated,but they continue to build.With so many farangs and their differing circumstances,it's easy to find an absolute bargain if you have the cash,but buy it in the knowledge that you either want to rent it or stay in it long term,even leave it to your kids.In other words buy if you can afford to lock your money into a property and forget about it&don't count on it as an asset, that may well prove very difficult to sell should you need to.Land is a better proposition for investment imho,also requires little upkeep. Link to comment Share on other sites More sharing options...
yankee99 Posted January 25, 2016 Share Posted January 25, 2016 Viewtalay 5c jomtien first real estate office on right when walking towards the pool. Link to comment Share on other sites More sharing options...
yankee99 Posted January 25, 2016 Share Posted January 25, 2016 Thailand has always been a buyers market.Pattaya especially.This is not the UK whereby you can put your property up4sale in the morning and by the same afternoon you have 4 viewings and offers coming in by the next morning. In Pattaya the housing market is saturated,but they continue to build.With so many farangs and their differing circumstances,it's easy to find an absolute bargain if you have the cash,but buy it in the knowledge that you either want to rent it or stay in it long term,even leave it to your kids.In other words buy if you can afford to lock your money into a property and forget about it&don't count on it as an asset, that may well prove very difficult to sell should you need to.Land is a better proposition for investment imho,also requires little upkeep. I hear this all the time and to a degree its true. If you look in a village with 25% of the property for sale chances are there bargains to be had but who wants to live there. Look at villages which have a low % of properties for sale and chances are its well maintained and when units are for sale at reasonable prices they will sell in reasonable amount of time. Link to comment Share on other sites More sharing options...
khun custard Posted January 25, 2016 Share Posted January 25, 2016 (edited) Most agents here are useless. I've rarely seen such an incompetent, unprofessional and lazy bunch of time-wasters (except maybe in condo management). If your property is nice and priced sensibly then you should market it yourself, as suggested. Serial Sociopaths looking to fill their web page with as many properties but lack the commitment to a buy tank of fuel to being people out to your home. OK, I live a bit out of the way but our home has been listed for 5 years now with supposedly the "top 5" with not one phone call or visit from potential buyers. Kinda strange in a culture that exceeds in selling but can't maintain stuff. It seems if your not in the Condo or gated community gravy train you don't get a look-in for the fast buck nature of the realtors here. The Thai concept that it is now a 2nd hand house and therefore a depreciating asset is quite unique!! But I guess when you look at most places that are 5 + years old here and the Thai "maintenance" and PM culture I guess there is a reason for this!! The best advice I have received is exactly what you have said, market it yourself , do your own signage and list your property in the BKK market- more Thai's are now looking to buy a weekender than people looking to live permanently in Pattaya in a free standing home (obvious sales to Thai's married to foreigners ready to sign over the cash and rights is a limited market) Edited January 25, 2016 by khun custard Link to comment Share on other sites More sharing options...
timendres Posted January 25, 2016 Share Posted January 25, 2016 Thank you to all that replied with suggestions. Better response than the agents. That's 3% you owe us then. Don't know where you live, in Pattaya the agents DEMAND 5%, and get this, Condo's give them 10 - 15%. So if anyone's buying a condo, ask for half his comm..... In the States (at least where I live), real estate agents ask 7% ! Link to comment Share on other sites More sharing options...
johninbkk Posted January 25, 2016 Author Share Posted January 25, 2016 Thank you to all that replied with suggestions. Better response than the agents. That's 3% you owe us then. Don't know where you live, in Pattaya the agents DEMAND 5%, and get this, Condo's give them 10 - 15%. So if anyone's buying a condo, ask for half his comm..... In the States (at least where I live), real estate agents ask 7% ! Holy hell. In Oz 1 1/2 - 2 1/2 % on a sliding scale. Link to comment Share on other sites More sharing options...
SOTIRIOS Posted January 25, 2016 Share Posted January 25, 2016 ...they are setting you up.... ...they have more time than you..... ...confiding in them....that you must sell.....game over..... ...even if you didn't tell them...someone that knows did........ ...expect to suffer a loss.....and their gain...... ...haven't you noticed....that is what it is all about here...... ...I have a friend that has a beautiful house north of Nonthaburi..... ...around 7 million..... ...the only 'farang' in the housing complex..... ...he has to sell...he even moved already....going on 2 years...... ...'they' will wait until he is 'ready to give it away'....... ....welcome to ************......next?!...... Link to comment Share on other sites More sharing options...
i claudius Posted January 25, 2016 Share Posted January 25, 2016 (edited) No matter where you are ,everyone slags off estate agents,it goes with the territory, my wife has been an agent for years and has many regular clients ,but for condos,she sells and rents many ,houses are very very difficult to sell unless they are in the very cheap range,in fact on our estate two lovely houses in the 5 million range have been for sale for 5 to 6 years and one at 9 million has been for sale as long as I can remember it is advertised with agents ,on gates and on the internet Edited January 25, 2016 by i claudius Link to comment Share on other sites More sharing options...
bkk6060 Posted January 25, 2016 Share Posted January 25, 2016 Man, that sounds like my experience in California. RE agents are like lawyers. Shisters looking for money. They do not care about you. Same all over the world I think. Good luck to you. Link to comment Share on other sites More sharing options...
sawadee1947 Posted January 25, 2016 Share Posted January 25, 2016 The property market (and economy) is on a down turn. Only condos with reasonable size are better off. I got very good experience with "Perfect Homes" (I'm not an agent or get any commission). Always got feedback and a realistic range of selling price. (much lower than expected) Indeed all other agents were useless. Link to comment Share on other sites More sharing options...
1FinickyOne Posted January 25, 2016 Share Posted January 25, 2016 Not that I have any affection for agents, but if they show ten properties and the person doesn't buy any - that would be ten extra meaningless phone calls and maybe some people would keep them on the line - it could take extra meaningless hours... when I had a property for sale during a depressed market, I was told it may take 100 viewings to sell... people tend to overvalue their own properties - you love it and assume everyone will - You need to dampen your expectations a bit both about the commitment of agents to your property and it standing out above other properties. There is an awful lot on the market these days. Maybe if you were to take a few hours and go house shopping, even online, you might get a better feel for where you stand.. Best of luck. Link to comment Share on other sites More sharing options...
Capt Rob Posted January 25, 2016 Share Posted January 25, 2016 Most property is sold new or among family and by personal recommendations. Keep a sign outside and let neighbors know. Sale of used property by agents is mostly fly by night - there just is not a market seen to support a professional operation. It is a two way street and up to now agents do not serve either buyer or seller better than the old look around for signs and ask locals approach in the minds of most. Thanks for your sound advice. I'll give it a go. This will help as I can reduce the price as no exorbitant agent fees. 5% in Pattaya, Ouch! Have only purchased property here in Thailand but have to agree about agents they are not all inspiring. As a suggestion perhaps a ' real estate virtual tour ' might offer advantages, google it for a list as I did one of which came up is "chosen marketing " You may find a useful alternative to the displayed apathy of agents'. Works fine elsewhere to my knowledge in that people who turn up for inspection are not usually tyre ( tire ) kickers - good luck Link to comment Share on other sites More sharing options...
MyFriend You Posted January 25, 2016 Share Posted January 25, 2016 Put a sign on your gate and also advertise online, starting with Thaivisa. Put signs out on the streets in the area as well. If there are any stores in your area which have a bulletin board, put a sign up there. Tell all friends in the neighborhood and elsewhere. It is common to sell a house to another owner in the same neighborhood. Good Suggestions - I will add one - Offer a small Commission to Mom & Pop stores that post your advert and you sell the ppty..........but be sure to add - Serious Offers Only so you don't waste your time on every Somchai or Lek that thinks you will give it away. Link to comment Share on other sites More sharing options...
Jingthing Posted January 25, 2016 Share Posted January 25, 2016 Put a sign on your gate and also advertise online, starting with Thaivisa. Put signs out on the streets in the area as well. If there are any stores in your area which have a bulletin board, put a sign up there. Tell all friends in the neighborhood and elsewhere. It is common to sell a house to another owner in the same neighborhood. Good Suggestions - I will add one - Offer a small Commission to Mom & Pop stores that post your advert and you sell the ppty..........but be sure to add - Serious Offers Only so you don't waste your time on every Somchai or Lek that thinks you will give it away. How small? Link to comment Share on other sites More sharing options...
ableguy Posted January 25, 2016 Share Posted January 25, 2016 My gf partner tells me people think about ghosts that's it, anamistic society you can't change it, I hear people complain all the time about cannot sell a used condo for the same reason, if you believe ghosts exist then they do ( to you anyway ). Link to comment Share on other sites More sharing options...
MyFriend You Posted January 25, 2016 Share Posted January 25, 2016 No matter where you are ,everyone slags off estate agents,it goes with the territory, my wife has been an agent for years and has many regular clients ,but for condos,she sells and rents many ,houses are very very difficult to sell unless they are in the very cheap range,in fact on our estate two lovely houses in the 5 million range have been for sale for 5 to 6 years and one at 9 million has been for sale as long as I can remember it is advertised with agents ,on gates and on the internet I would venture that Real estate agents add waaaaaay too much to the actual price, pricing the houses out of the market - I saw some very nice houses in Udon this past week for 2.5 - 4 MBaht - same style homes in Pattaya are asking 7 to 9 MBaht, I know, Location, Location, Location - but when you have an empty house and the price has;t dropped in 5 years good luck selling it. case in point with respect to Location - I bought my Condo in Hawaii for 2/3rd's the asking price, I dropped $100K off it and the agent could get the papers signed fast enough. Thai's try to sell Used Cars, Motorcycles, 2d hand homes, and boats at "what I pay for it" they will stay there with the For Sale sign on it until the termites eat away the foundation. News Flash - Open up a '2d hand home only real estate agency, lower the commission and you will sell more, make more, and get more customers once the news is out that you are a hot seller. Link to comment Share on other sites More sharing options...
MyFriend You Posted January 25, 2016 Share Posted January 25, 2016 Put a sign on your gate and also advertise online, starting with Thaivisa. Put signs out on the streets in the area as well. If there are any stores in your area which have a bulletin board, put a sign up there. Tell all friends in the neighborhood and elsewhere. It is common to sell a house to another owner in the same neighborhood. Good Suggestions - I will add one - Offer a small Commission to Mom & Pop stores that post your advert and you sell the ppty..........but be sure to add - Serious Offers Only so you don't waste your time on every Somchai or Lek that thinks you will give it away. How small? I would offer anywhere from .3 to .5% on a 5 Mil house that would only be about 30K Baht, lets face it, Mamasan & papasan don't have much to do accept gossip - someone comes in the store, strikes uo a conversation, has a son or daughter getting married, a nice house would be a good wedding present.............Boom sale prospect, but you have to put your own efforts into it and show the place. Link to comment Share on other sites More sharing options...
MyFriend You Posted January 25, 2016 Share Posted January 25, 2016 (edited) Put a sign on your gate and also advertise online, starting with Thaivisa. Put signs out on the streets in the area as well. If there are any stores in your area which have a bulletin board, put a sign up there. Tell all friends in the neighborhood and elsewhere. It is common to sell a house to another owner in the same neighborhood. Good Suggestions - I will add one - Offer a small Commission to Mom & Pop stores that post your advert and you sell the ppty..........but be sure to add - Serious Offers Only so you don't waste your time on every Somchai or Lek that thinks you will give it away. How small? Removed duped entry Edited January 25, 2016 by TunnelRat69 Link to comment Share on other sites More sharing options...
williamgeorgeallen Posted January 25, 2016 Share Posted January 25, 2016 websites like bahtnsold and craigs list are your best bet. be ware you are going to get emailed lots of stupid questions by dreamers sitting in their offices back in the cold ferangland countries dreaming about owning a house in thailand. Link to comment Share on other sites More sharing options...
fekman Posted January 25, 2016 Share Posted January 25, 2016 Thank you to all that replied with suggestions. Better response than the agents. That's 3% you owe us then. Don't know where you live, in Pattaya the agents DEMAND 5%, and get this, Condo's give them 10 - 15%. So if anyone's buying a condo, ask for half his comm..... Wow. If thats true, one condo sale could earn them 3-5 years typical salary? Link to comment Share on other sites More sharing options...
mrfaroukh Posted January 25, 2016 Share Posted January 25, 2016 Well the problem is very easy to understand. The world economy is in bad shape. Main developer and buyer in Pattaya were Russian. Now they have problem. Many condo's are not even build. Those under construction bough by Russian whom can not pay up now. Russia has their own problem. Their currency devalued by more than 40%. Those bought condo in Pattaya can not even pay up the rest and ready to sell cheap to get out of the contract. The political situation in Thailand is changed. I look at it as it is changed for the better but some look at it negative so it had negative effect on some. It is now better to rent than to buy. Prices are not increasing but decreasing. The price of where I stay was around 5 million for a condo now is 3 million and there are not many buyers. Many condos are on sale. People are looking for cheaper places to live. I remember 3 years ago there were 40 000 unsold ready to move it condo and there were 300 000 under construction , so do the calculation. If you really want to sell I guess you must go at least 20% or more under the current value. Good luck Link to comment Share on other sites More sharing options...
duckmandon Posted January 25, 2016 Share Posted January 25, 2016 Most property is sold new or among family and by personal recommendations. Keep a sign outside and let neighbors know. Sale of used property by agents is mostly fly by night - there just is not a market seen to support a professional operation. It is a two way street and up to now agents do not serve either buyer or seller better than the old look around for signs and ask locals approach in the minds of most. Thanks for your sound advice. I'll give it a go. This will help as I can reduce the price as no exorbitant agent fees. 5% in Pattaya, Ouch! If you put out your sign & advise neighbours then someone may recommend a person buy your house. As Thais see it they get the commission then. Happened to me when a shop owner gave someone our phone number. We did not pay as they didn't actually do anything as the new owners approached us directly & not through the shop owner. 3% commission is standard. Link to comment Share on other sites More sharing options...
puukao Posted January 25, 2016 Share Posted January 25, 2016 seems like you can live without selling property... just give house to group of backpackers and your karma will go way up!!! your after-life is 1 zillion years....so this is a good investment. *i will put the property in my name as i will be your "heaven agent" 5555555 Link to comment Share on other sites More sharing options...
Swiss1960 Posted January 25, 2016 Share Posted January 25, 2016 Pattaya definitely is a buyers market, in my village, I see around 5% of the houses with "rent" or "sell" signs outside. I have been looking at around 30 houses before I found mine and yes, agents are pretty much useless. Qualifications for them? - have a big mouth (foreigners are worse than Thai agents) - maintain a poorely designed website - steal ads from other agents website - be able to do some telephone calls in poor English - be able to calculate 5-10% commission from the sales price The house I finally found was on the sales market for 4 years and over time, the owner dropped the price by 40% because he could not find a buyer and needed the money. Good for me, bad for him, but I assume he still made his share as he built the house 10y ago. Every other Thai person I met during my search told me that she knows someone who knows someone who has a house for sale that just is fit for me... without knowing nuts about my budget or requirements. Every agent showed me houses up to 30% over my budget or way outside my preferred locations. One agent gave me a sales contract for a condo when offering me a company owned house. One agent asked me to pay him 50'000 Baht for arranging due dilligence with land office, company office etc while my own lawyer did it for 6'000 Baht... Every other girl in the bank sells condo and houses on the side. Every cashier in restaurants or bars has "the ideal property" for you... I agree with all the posters that say "sell yourself", put it on facebook, craigslist, ThaiVisa and any other website you can find. Link to comment Share on other sites More sharing options...
i claudius Posted January 26, 2016 Share Posted January 26, 2016 As I posted on another post about Thailand ,there is a load of old bull sh_t posted on here ,this thread is no different ,all I know is that all over the place is that there are thousands of armchair estate agents around,if they are so good why not open up yourselves, and go broke like most do ,the good ones survive. Link to comment Share on other sites More sharing options...
Pinot Posted January 26, 2016 Share Posted January 26, 2016 Reason #361 why you should never buy property in Thailand My usual snarky response to threads like this. Here in Phuket, the market is absolutely dead. Nothing is moving. There is a huge glut of dead property, with more coming online daily. The environmental disaster continues. The only way to stop the developers is simply don't buy property in Thailand. Buddha knows there is plenty to rent and that way you don't end up stuck with unsaleable property that's falling in value. Link to comment Share on other sites More sharing options...
bark Posted January 26, 2016 Share Posted January 26, 2016 Thai people do not like to buy resale homes. They are afraid of ghosts. And if you got a divorce. It will also happen to their marriage, if they buy your house. Best thing to do, is to turn it into a 200 baht per house. You will make a lot of money. And no need to sell. Thai's are always looking for places to go; for 1-2 hours. Link to comment Share on other sites More sharing options...
mekongsailor Posted January 26, 2016 Share Posted January 26, 2016 Try Accom Asia. http://www.accomasia.co.th/ I'm using them for renting. Example: Condo (with HUGE -150 sqm- roofgarden) advertised for 65.000 in BKK. No pets allowed. Jaccuzi (6 pax) in roofgarden. Agency negotiated : 53.000 THB rent + pet allowed. Maybe they are as good in renting out as in selling. Link to comment Share on other sites More sharing options...
mercman24 Posted January 26, 2016 Share Posted January 26, 2016 i had a scheduled meeting with a female agent 18 months ago, i waited 2 hours, i rang to say where are you and the cheeky mare sent back a photo of her in the hairdressers, so i arranged another meeting,and guess what, i never showed up. touche ! Link to comment Share on other sites More sharing options...
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