Why use a Realtor to Buy or Sell Property in Thailand?

Category : Buying Real Estate | Posted On 2020-03-04 00:00:00

Why Use a Realtor for Property in Thailand?

Real estate purchases involve one of the biggest financial decisions most people experience in their lifetime. Transactions today usually exceed a minimum of 3,000,000 THB ($100,000 USD). And when almost everything is accessible online, it can be easy to build confidence that you can handle it all yourself, even in a foreign market.

For the purposes of narrowing your property search, those techniques are perfectly fine. However, there are certain stages during the home-buying process when you may want someone in your corner.

Phuket has one of the fastest-growing property markets in the world with an increasing number of high-quality projects by renowned real estate developers. Environmentally friendly planning laws and height restrictions ensure that developments are low-key and low-density.

Phuket is Thailand's wealthiest province and also the jewel in the crown of Thailand's tourism industry, therefore receiving a high degree of protection and investment from the central government. Infrastructure and services continue to improve at a fast pace.

As an investor, you need to be aware of the various challenges that may present themselves when buying a property in Thailand and this is the main reason why you should use a realtor. At Phuket Realtor, we understand these challenges. A good realtor can save you from a hectic routine of looking for houses that don’t meet your needs. A great realtor will save you more money than you could have saved on your own. Why use a realtor, why not?

It Costs you Nothing

One of the most obvious reasons to work with a realtor when buying a property in Thailand is that it's free.

There are no circumstances where it costs you money to hire a realtor. Since 100% of the time, it's free to use an agent when purchasing a property, it's an obvious reason why you should hire a professional to represent your best interest.

It's vital, however, that you do not hire just any realtor. There are certain things you should expect from a real estate agent when buying a property in Thailand.

You should expect the following from your Realtor:

Honesty
Full Disclosure
Frequent Communication
Use of Current Technologies
Quality Business Connections
Professionalism
Proven Track Record of Success
Knowledge of the Local Real Estate Market
Knowledge of Rules, Regulations, and Documents
Strong Negotiator and Reputation
Reliable

Steps to Purchase Property in Thailand

Before a realtor starts working on finding your ideal home they must make sure to listen to your requirements including discussing exactly what you are seeking.

They then need to arrange a meeting with a list of properties that best fit your needs and stated requirements. This will be a list of properties most suited for you based on what you've discussed and within your budget range. Everything must be done in a friendly professional manner where the client feels relaxed during the process.

The next step would be to view the list of properties most suited for you arrange the appointments and act as your consultant. They should offer straightforward advice from an honest perspective.

Then a shortlist is created and the realtor guides the buyer through the process of making an offer. The offer is negotiated and a deal is made. Keep in mind that with most successful deals both parties, buyer and seller, are somewhat disappointed in not getting exactly everything they wanted.

The realtor will then guide the client through the next step of the buying process to closing. A realtor should be expected to offer after-sales services.

Property Consultant

As your consultant, a realtor will help you with the “Offer” to the seller. They will present and negotiate your formally stated terms and price to the owner.

Most owners of property in Thailand will use a realtor to market their property internationally and sell the property. Many clients are foreigners or ex-pats who will use the services of a realtor so they do not have to deal directly with a multitude of inquiries from buyers. Realtors in Thailand work with both parties.

Pricing of property in Thailand is naturally more expensive the closer you get to the beach and less expensive inland and in rural areas. A realtor should have a good selection of villas, condominiums, apartments, and land for sale. The choices should include “off-plan” (pre-construction), under construction, completed, and the secondary market. Phuket is a unique market that offers something for just about everyone.

Real Estate Experience

Realtors having multiple years of experience in the Phuket real estate market can better assure you that you will be guided safely through the process of purchasing a property in Thailand. They should provide you with an interactive website that not only helps you have an idea of what is on the market but also discusses taxes, title deeds, and ownership structures, as a starting point for buyers.

Phuket Realtor would be honored for the opportunity to represent you. We would be happy to set a meeting to discuss how we can move you forward. Call us today at +66 93 606 0906 send us an email at [email protected] or visit our office.