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About Real Estate Agents
The main disadvantage of working with a real estate agent concerns bargaining. It’s often easier to bargain for a lower price with a property owner than with a real estate agent. In addition, the idea of “co-broker” is not widely recognized in Thailand. Real estate agents in Bangkok have a limited number of properties on their hands. The properties they broker may not be exactly what you need. And they might not share your details to other agents and split commission. This means that you may need to contact more than a single agent in order to find out the most suitable property to rent or buy. Real estate agents in Bangkok work on a commission basis. They only get paid when you sign a contract. Because of that, there are some bad agents that will try to force you to strike a deal.
Commission Payments
You don’t need to pay a fee when using a real estate agent in Bangkok. Instead, a real estate agent make money out of commissions. For a property rental, they get a one-month commission from the annual contract and half-a-month commission for a six-month contract. For a sale, they get a 3%-5% commission on average from the property developer. The starting price quoted by a real estate agent should be closer to the price you are quoted when you deal directly with the owner. However, it’s possible to negotiate the rate down when you deal directly with the property owner. But this isn’t always the case.
Problems with Real Estate Agents
There are certain cases where, after you contact real estate agents in Bangkok, you will not hear back from them. Based on our observations, there are four main reasons why agents won’t get back to you. But remember, there are also good agents who always respond to inquiries even if they do not have a list of properties based on your requirements.
Real estate agents in Bangkok can be separated into three main types:
It’s best to pay the deposit or rent directly to the room owner. If you buy a new condominium, then you should pay the condo developer directly. We have heard of a case where a tenant made monthly payments to a real estate agent instead of the owner, and the agent pocketing the payments for himself. In the end, the tenant needed to find a lawyer and take the issue to court. Another case involves a bad agent who secretly marked up a rental price. The actual rent was 20,000 THB but charged 22,000 THB and pocketed 2,000 THB.
We only list reputable agents with a proven track record !
The main disadvantage of working with a real estate agent concerns bargaining. It’s often easier to bargain for a lower price with a property owner than with a real estate agent. In addition, the idea of “co-broker” is not widely recognized in Thailand. Real estate agents in Bangkok have a limited number of properties on their hands. The properties they broker may not be exactly what you need. And they might not share your details to other agents and split commission. This means that you may need to contact more than a single agent in order to find out the most suitable property to rent or buy. Real estate agents in Bangkok work on a commission basis. They only get paid when you sign a contract. Because of that, there are some bad agents that will try to force you to strike a deal.
Commission Payments
You don’t need to pay a fee when using a real estate agent in Bangkok. Instead, a real estate agent make money out of commissions. For a property rental, they get a one-month commission from the annual contract and half-a-month commission for a six-month contract. For a sale, they get a 3%-5% commission on average from the property developer. The starting price quoted by a real estate agent should be closer to the price you are quoted when you deal directly with the owner. However, it’s possible to negotiate the rate down when you deal directly with the property owner. But this isn’t always the case.
Problems with Real Estate Agents
There are certain cases where, after you contact real estate agents in Bangkok, you will not hear back from them. Based on our observations, there are four main reasons why agents won’t get back to you. But remember, there are also good agents who always respond to inquiries even if they do not have a list of properties based on your requirements.
- The budget is too low
- You have a short-term visa
- Your rental duration is less than six months
- Your preferred location is not within the city limits
- Your move-in date is still too far off
Real estate agents in Bangkok can be separated into three main types:
- Independent Agents
Independent agents are real estate agents who work on their own, i.e., they’re not employees of any real estate company. They either work on their own or partner up with other real estate agents. This type of real estate agent tends to have a good knowledge of the property market in Thailand. They may have worked in a property company for a while before becoming an independent agent. What’s good about working with independent agents is that they’re dedicated. Since their main source of income comes from closing a deal, they would be motivated to work with you and go beyond the extra mile until you find the right property. It’s also easier to negotiate with an independent agent. They are more flexible and would find a way to find the best middle ground between you and the property/room owner. But it’s also undeniable that there are some independent agents who are too pushy in trying to close a deal. - Hired Agents
Hired agents are real estate agents who are employed by real estate companies. They work from nine to five and are salaried. Some companies may pay them a fixed salary while the other gives them commission on a successful deal. Hired agents tend to be more systematic than independent agents. They also have access to a wider list of properties. Since they already get a salary regardless of whether they find you a property, they may not be as motivated when working with you. If you want to work with a hired agent, you can check out CBRE, Fazwaz, and Savills, all of which are big real estate companies in Thailand. - Sole Agents
Sole agents are like hired agents in that they work in a property company and get a salary in return. The main difference is that a sole agent may have an exclusive agreement with certain property owners that allow them to be their properties’ sole real estate brokers. Plus Property is a good example of a sole agency in Bangkok. They are an affiliate company of Sansiri, currently the leading property developer in Thailand, which means Plus Property has an exclusive agreement to broker only properties developed by Sansiri. If you want to rent or buy a property developed by Sansiri, you need to get in touch with an agent in Plus Property.
It’s best to pay the deposit or rent directly to the room owner. If you buy a new condominium, then you should pay the condo developer directly. We have heard of a case where a tenant made monthly payments to a real estate agent instead of the owner, and the agent pocketing the payments for himself. In the end, the tenant needed to find a lawyer and take the issue to court. Another case involves a bad agent who secretly marked up a rental price. The actual rent was 20,000 THB but charged 22,000 THB and pocketed 2,000 THB.
We only list reputable agents with a proven track record !
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