Expertise Has No Substitute
It doesn’t matter how much experience the individual buyer has of buying Thai houses or condominiums, because the sheer volume of transactions an estate agent will have made in their lifetime will always make them the experts.
It’s hard to match up to the reservoir of expertise a professional real estate agent will have to offer a potential buyer, even if that buyer has made one or more purchases in their time. Day to day changes in the Thai property market and the requirements this imposes on the time and expertise of a Thai estate agent are frequently an edge of competitive advantage for those players wishing to make an entry into the Thai property and condominium sector.
Local issues and new trends can be fed back to their customers through the use of a real estate agent. The professionals can then tailor their recommendations and advice to potential buyers who are looking to secure a foothold on the Thai property ladder. At the end of the day there really is no viable substitute for hard earned experience.
Securing the Best Price
When entering the property market there is probably no single greater deal maker than the price of that property. We always recommend settling on a price and a geographical area to limit the number of choices to a practical level.
Once these factors have been settled upon, it’s always a welcome turn of events to understand that an estate agent, is in a better position to negotiate the price if a buyer is willing to hold on and wait.
Not everybody has the luxury of being able to wait, or even the patience to deploy this tactic, but if a buyer is in a comfortable position to hold out on a deal, it can act as a powerful incentive for completion of the sale if a purchase is unlikely to proceed in other circumstances.
Estate Agents are Legal Entities
Private sales can of course be a wonderful avenue for interesting Thai property purchases, but by dealing with a qualified real estate agent the client is engaging with a legal body that is more concrete than when pursuing legal problems that emerge through private transactions.
For example, real estate agents are obliged in law, to be as honest as possible, unlike a private sale where casual assurances are often not fulfilled. In some cases we’ve heard of, private sales have occurred and the Thai property seller has quickly moved away with no recourse to being contacted in the event of a problem.
Compare this with the real estate commitment of a lasting and long term relationship that is advantageous to both sides. This professional relationship engenders an atmosphere of reliability and trust. When dealing with professionals, please ensure that commitments are taken down in writing so that legal recourse can be pursued.
Professionalism and Responsiveness
Professionally speaking real estate agents have an extra economic incentive to ensure the best service and speed of sale. The onus is on the seller to proceed as is to be expected for property transactions in Thailand. Some international buyers are in-country for a limited time and so in this instance a real estate agent is able to handle the transaction in a way that a private sale cannot usually be achieved.