How to Choose the Right Real Estate Agency in Bangkok
Haven’t you had the experience of searching a Bangkok condo for sale in the city but your search seems not to bear any result at all? How about selling your Bangkok condo yet your unit has been in the market for more than six months already?
Then, a real estate agency in Bangkok is the answer to your concern. Bangkok is swarming with real estate brokers who are ready to arrange real estate sales transactions with you and condo sellers not to mention the other important services that they perform such as listing a property, filing pertinent real estate documents, and purchasing contracts among others.
But how should you choose the rightreal estate agency in Bangkok? We’ve come up with the following questions to keep you guided on your search. After all, your purchase of a Bangkok condo for sale is an important investment (and might be one of the biggest purchases that you’ll make) so why should you not be careful when selecting a reliable real estate agency in Bangkok?
Ideally, you you should have a few real estate agencies where you’ll select your broker from. This is enough to compare each agency’s advantages over the others. Your friends, neighbors and co-workers can refer you to Bangkok real estate agencies that they have worked with.
These professionals are glad to meet you at your convenient schedule. During your meeting, you must be armed with these questions so you can assess which team of real estate professionals can help you best.
How long have your agent been in the business?
If you want a doctor’s opinion, you’d naturally opt for someone who’s had a wide experience in his field. If you want to hire a lawyer, you’d prefer someone who has had dealt with similar cases for a quite a number of years already. For a real estate agent then, you’d want to hire someone with as much as experience in all aspects of the sale or purchase of a property.
You can verify an agency’s claims through their affiliation with professional groups in the industry. For example, the Real Estate Brokers’ Association Thailand is composed of hundreds of real estate agents. You can verify an agent’s membership by visiting the REBA office.
Since your concern is buying or selling your Bangkok condo, you must select a real estate agency with years of experience in the business. However, you should bear in mind too that the length of service does not correlate with the competence that they have. Some Bangkok real estate agencies may still be young in the industry but they have an armada of brokers that are more competent that those who have been in the industry for so long.
How familiar are you with the Bangkok property market?
A real estate agency must be very familiar with the local market. In your case, you must select one which knows Bangkok from corner to corner. The agency must know both historical and current market conditions in the city to better guide you on your sale or purchase.
How do you market the properties that you sell?
This query is most apt for Bangkok condo sellers. When you want to know what the real estate agency can do to sell your property quickly with a cost as close as to your listing price, it is imperative that you are informed beforehand on their plans.
Do you maintain constant communication with your clients?
Constant communication with the client is a highly important trait among these professionals. By providing you with updates consistently, you are in a better position in the potential sale of your Bangkok condo. The agency must assure you that you’ll be a part of the loop all the time.
Who are your top references that I can contact?
A dependable real estate agency won’t be hesitant to present their references. Its agents will also be willing to present their references so you can verify their credentials and competence in the real estate industry.
What makes you stand out from the rest?
With so many Bangkok real estate agencies today, how can you separate the best from the rest? A good real estate agency can cite specific details on their advantages over the others. It may be their years of industry experience, their effective customer relationship style, their management, and many other reasons.
How vast is your network of real estate professionals?
The larger the real estate agency is, the more choices of brokers and agents that you’ll have. It will also show how strong their network of real estate professionals too by referring you to professional appraisers, home inspectors, and other professionals that can help you with the sale or purchase of your Bangkok condo.
How much do you charge? Can you provide the cost in detail?
One factor that you can use to compare real estate agencies is the fee that you’ll be charged with. Because Thai real estate agents are open to negotiations with regard to fees, you must be straightforward from the beginning with how much percentage you are willing to pay.
Can you explain about your policies regarding agreements?
So many disputes about real estate transactions remain unsettled because buyers and sellers assume that all policies are universal. That is, if one real estate agency allows you to cancel your agreement with them, this will also hold true among others. You must clarify this and other policies with the real estate agency during your meeting.
Are there any other things that you would like to explain?
There may be some points that you may not cover during the meeting so it’s best to let the real estate agency lays out these things that they want you to know. Do not take this information for granted since some buyers or sellers discover the other services that they can avail of.
Now that you know which questions to ask, a final point of consideration is to assess if the real estate agency has brokers and agents that possess these three key values: