Real Estate Agent Fees in Bangkok, Thailand ?
The service of real estate agents in Bangkok is usually free to people looking for houses, condominiums, and apartments.
It is customary for landlords to pay a commission to the agency for their services.
Some people may believe they can get a better deal by searching on their own so they can negotiate directly with the landlord by cutting out the agent commission, but generally that is not right, and it can be risky. Let me explain:
- Similar to hotel bookings online, units go at the market rate. Indeed, you are welcome to negotiate a price directly with the landlord, with us as part of the loop.
A real estate agent can save you a lot of money by shortening your search with expert guidance -- saving you expenses, time (which is money), and effort, while finding the best home.
The landlords rely on agents to help them find tenants, screen the tenants for suitability, bring only the suitable ones for viewings, take care of the tenants in English, and handle many details. In this way, the units are often rented much quicker than if the landlord does not use agencies, so there is less vacancy and more paid up days and months. All of this usually covers more than the agency's commission.
- As part of our service, we listen to and analyze your needs and preferences. Based on this and our professional familiarity with the vast number of buildings, neighborhoods, and units in Bangkok, we suggest some places which we think are the best match for you and take you there -- again, saving you expenses, time (which is money), and effort, all while finding the best places for you to choose from. We normally breeze you through the viewings, taking notes from your feedback (which may help us narrow the search further), and give expert advice. We don't want to waste your time and effort, nor our own.
- For condos and houses, the real estate agency usually provides the lease, i.e., we usually do not use a lease provided by the landlord which may be biased towards the landlord, nor does the tenant bring their lease and demand their terms. The agency, as a neutral third party, provides the lease, usually. The agency also helps in negotiations and various details before the lease is signed. If there are any conflicts during the term of the lease, then the agent tries to help in arbitration. After the tenant moves out, the agency helps with settling the security deposit. Landlords normally want to stay on good terms with the network of agencies, and honor agreements.
- You must agree that if you choose a place we have shown you, then you come back to us, not try to go directly back to the landlord. We have a similar agreement with landlords. Most landlords would see a tenant going back on their own as a sign of not honoring an agreement. Some tenants have gone back to a landlord to try to cut out the agent. Usually, the landlord contacts us back and rules out the tenant. Who would trust and honor a tenant or landlord who also did not honor their agreement with us, or practice common sense ethics?
You are under no obligation to take a unit from a real estate agent if you don't want any of the units they showed, but for a unit you do want to close on, you are obligated to close a deal thru the real estate agent who brought you there.
So, in summary, there are many benefits of using a real estate agent in Bangkok, and many issues if you try to either not use an agent or else cut out the agent at a later date after choosing one of the properties the real estate agent took you to.
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