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Why are there no real estate agents in Issan?

ghworker2010

By ghworker2010
in Isaan

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ghworker2010 Silver Member

ghworker2010

Posted
Posted

Correct me if I'm wrong but there are little or no real estate agents in Issan cities.

We were looking for a rental last year and had to drive around and use word of mouth to find a house. We noticed many owners had signs on their fences advertising 'for sale'.

There are plenty of agents in farang area's. Why not in the north east of Thailand?

Last year when looking for a rental I was surprised by the amount of empty old houses owned by farang who were no longer in Thailand. They had left the keys with a friend trying to sell it. I do question why anyone would buy here based on all the negatives.

cheers

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AlexRRR Platinum Member

AlexRRR

Posted
Posted

Might be because the idea of paying a commission to someone for selling your property is alien to them, what worked up until now is fine for a slow moving people.

allane Gold Member

allane

Posted
Posted

I would venture to say that the vast majority of Thai real estate is kept in the family and passed down to the children.

There are two reasons why there is a real estate sales industry serving foreigners:

- clueless farang wouldn't know where to start without them

- the general overcharging of farang provides enough of an incentive for some people to enter and remain in the field of real estate sales.

In my early days in Bangkok, I used to travel around and see "For Sale' or "For Rent" signs on commercial and residential buildings in English only. I asked myself why. Of course after a few weeks I had the answer: Put up a sign in English, and see if it sells/rents. If it doesn't, cut the price in half and put up a sign in Thai.

Ombra Advanced Member

Ombra

Posted
Posted

Isn't the internet taking away a lot of the work formally done by real estate agents? My wife has a shop and a small house in Nakhon Phanom which she rents out, and whenever she needs a new tenant she posts the information on different websites or on community pages. These are Thai language sites, by the way.

55Jay Gold Member

55Jay

Posted
Posted

Not deep Issan, but there is a Century 21 real estate office in Korat. http://century21korat.com/eng/contact.php

That one just sprung to mind, there are others, Google Issan Properties.

Agreed, things may not move enough to justify too many. But following the normal business acumen, if Thais see a new real estate office open and make a sale, that must be a "goot bid-ness", and will open their own real estate office right next door! facepalm.gif

1FinickyOne Diamond Member

1FinickyOne

Posted
Posted

market limitations - in your area, how many farang are looking for property... in small villages, most property stays in the family if there is a house on it, but selling a house and land is not often done - it goes to the family. The times we have bought houses locally it was for the teak wood and the house was torn down. There are a few word of mouth agents locally but you usually cannot buy from them - price too high, land not good, as anything decent will get scooped up by family members first...

same reason you will not see a yard sale - same reason that my wife advises not to buy second hand - if it has value, it will be bouht or given to a family member.

All part of being in another culture..

Guest

Guest

Posted
Posted

Funny that ... where there is demand, there seems to be ample supply.

But where there is no demand, there is very little supply.

This is an amazing observation .. you may be on to something here!

Roomuck Newbie

Roomuck

Posted
Posted

Because most issan people are smart enough to believe in real estate agent BS. Why pay someone 5% commission for simply getting in the middle of a deal. You have a house to sell, someone is prepared to pay x amount for it. The agent, despite what he wants you to believe, doesn't create new buyers or even get them to pay more.

Real estate agents in the western world are full of themselves, are not actually qualified at anything but carry on like they are special people, they are unnecessary.

Clever people these Thais.

bark Senior Member

bark

Posted
Posted

The bigger question is "Why would you want to live there ? " All the girls are gone, and are working in Bangkok. Maybe you like the rice fields?

Jai Dee Star Member

Jai Dee

Posted
Posted

A link to another forum has been removed as per Forum Rules:

13) You will not post links to other Thailand forums, or forums which could reasonably be construed as competition to Thaivisa.com or its sponsors.

Taoism: shit happens

Buddhism: if shit happens, it isn't really shit

Islam: if shit happens, it is the will of Allah

Catholicism: if shit happens, you deserve it

Judaism: why does this shit always happen to us?

Atheism: I don't believe this shit

uthaithanirules Rookie Member

uthaithanirules

Posted
Posted

Not in Isaan obviously given the username

But have found on several occasions even if I get the wife in the pickup to question about price, then a week later get the MIL on the motorbike looking decidely bumpkin thai. The price magically drops considerably.

kamalabob2 Gold Member

kamalabob2

Posted
Posted

Buriram has several property agents. One is a franchise of a USA company. The local office is owned and operated by Thai citizens. Several of my expat friends have purchased land both inside Buriram city and in less urban areas through a UK expat property agent. He has a web site and speaks English. http://buriramisaanproperty.com/ He is not anywhere near 5% in his commission. I have met people who have been pleased with Hywel in both selling and buying land and homes. Mr. Williams would be on my short list of real estate brokers if I was buying or selling a home or condo in Buriram Province. He also has a thriving business as a building project manager. I have several friends who have engaged his services to manage a home building project in both Buriram proper and villages near Buriram. He has repeat customers which is quite telling. I know several real estate brokers I would never engage with again in California.

55Jay Gold Member

55Jay

Posted
Posted

The bigger question is "Why would you want to live there ? " All the girls are gone, and are working in Bangkok. Maybe you like the rice fields?

He said "we" were looking. "We" noticed...

Your needs and expectations are not shared by all. I like visiting BKK/Patts, but wouldn't want to live there.

khwaibah Platinum Member

khwaibah

Posted
Posted

Because most issan people are smart enough to believe in real estate agent BS. Why pay someone 5% commission for simply getting in the middle of a deal. You have a house to sell, someone is prepared to pay x amount for it. The agent, despite what he wants you to believe, doesn't create new buyers or even get them to pay more.

Real estate agents in the western world are full of themselves, are not actually qualified at anything but carry on like they are special people, they are unnecessary.

Clever people these Thais.

I live in issan and everyone real estate agent and all want around 2% commission

You two expect them to work for free?

a10ams Senior Member

a10ams

Posted
Posted

We viewed a couple of houses in Udon Thani through a Danish estate agent, probably about ten years ago though. Helpful guy as I recall.

Is there a resale market out there? My Mrs reckons Thai people would rather build new than buy 'second-hand'. Maybe in case the house comes with some bad spirits?

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