The property industry in Thailand is quite different from many other countries
Not necessarily better or worse; but less transparent.
For example: When you want to buy a home or condo; where do you start?
Perhaps you would pick up a magazine to check property adverts or go online to Google what’s around?
When you start to explore the “property market” here in Pattaya/Thailand it almost looks as if every house and condo is available for sale!
If you take a closer look, however; you will soon discover that you will find many duplicated listings being advertised over and over again! Sometimes with different prices; varying descriptions or location markers etcetera: Very confusing.
Stage II – After you overcome your first shock you decide to approach few real estate agents with a number of selected properties from their websites and make inquiries by email.
Choosing which realtor you will approach is mindboggling as most claim to be the biggest & best, even claim to be the “cheapest” or “absolute experts” even when they haven’t been around much longer than a fortnight in Pattaya. So you work your way down from top to bottom and approach random agencies by sending them few property inquiries.
THIS is what’s likely to happen:
– Few professionals respond properly
– Others not respond, or belated
– Most of your selected properties are no longer available and/or their prices have changed…
Not the friendliest user experience. Almost frustrating.
A direct cause of this frustration lays in the fact that Thailand doesn’t have an MLS system to list and market properties (Multiple Listing Service) and most agencies work on a Non-exclusive basis.
So, if you want to sell or let your home or condo in Pattaya; you are able to approach several agencies and list it with them on a free of charge basis (and free of any obligation)!
We have seen the same property being advertised on 50+ different websites (!)
Guess what happens if this home or condo gets sold?
How many of these 50 realtors (except the one that sold or rented it) will be informed to remove the listing? …You guessed it!
So it kind of explains why searching for a property could be frustrating.
Are there alternatives?
Yes, we think so. More and more property owners prefer to deal with only ONE qualified real estate agent that coordinates the listing- and marketing efforts.
That takes care of the paperwork and due diligence; photo-taking; branding; advertising; inspections and viewings and finally completion of a sale or a long-term rental agreement.
It is doable if you have a nice quality property on the market and you would list it on an EXCLUSIVE BASIS.
How it works is simple. As you don’t want to miss out on other agents’ prospects – you allow for a slightly higher brokers’ fee (sales- or rental commission), exclusively for your “main agent”.
In this way, your sole agent is able to market your property with other real estate agencies too without having to cut them on “normal” commission payments in case they have the client.
It saves you however a lot of effort and energy that smooths the way to completion of a sale or rental or your property.
Don’t misinterpret the term “Exclusive”.
“Exclusive” doesn’t relate to the property as such (luxury/expensive/lush); it can be any property in any price range; as long as it is attractive and priced to sell.
If you want to learn more about “exclusive listings”, why don’t you talk with us?
Let us guide you. Come and visit us!
Author: Mr. KC Cuijpers
For more information: Please contact Town & Country Property –[email protected]
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