Agents speak the language
Whether it’s the local language or the language of property and real estate, agents speak the language. You may get the gist of things, but to get a real understanding of a property’s characteristics, its nuisances, subtleties that may give something away or betray the seller’s intentions, get an agent who speaks the language of property. Property agents have their own lingo, technical terms and jargon that make a conversation go much smoother. There are technical details, prerequisites and by-law stipulations related to your property that can be shortened to just a few simple words if you know the lingo. Don’t get confused and take the wrong actions because of a misunderstanding that will cost you. Get an agent to explain to you in laymen terms what needs to be done exactly and the reasons behind them.
Agents know all about existing projects and planned projects
Let’s face it, you can’t physically or virtually be everywhere at once. You may search the internet and feel like you have a rough idea about all the new condos in Bangkok. But what about all the concept phase projects selling at below market prices? For that matter, what about finished projects already on the market? Or that cooler condominium that’s renting for cheaper but it missed you’re limited search net. Don’t experience buyer’s remorse in the property industry because it’s the worst of its kind.
It’s the agent’s job to know about all these things. Sure, the agent isn’t all-knowing either, but he’s much closer to it than you are. And he doesn’t just study up on condominiums. He studies houses, apartments and lands, he knows the different room layouts and the different shaped plots of land. He knows which properties are hot, which properties are about to enter the market and which properties are about to be sold out before any reporter will have a chance to write about it. The property agent will even drive you to places he thinks are worth your while saving you money on gas. So don’t miss out and get an agent to recommend the perfect property for you.
There is safety numbers
The point is, you just haven’t been through as many property transactions or have as many connections as an agent. The agent has undertaken numerous deals and has gone through numerous proposals. The agent has a network of colleagues that share their stories and solutions together for solving problems you wouldn’t have imagined could get in the way of you and your ideal place.
Agents know how to spot inconsistencies and property scams to steer you in the right direction. They know what kind of title deeds, verification documents, terms and conditions which are lawful and which are legitimately required. They’ve consulted for all different types of buyers with their own unique set of criteria and will create a matching plan. The agent has faced countless scenarios than can help you in situations that have never crossed your mind.
An agents resources are your resources. So find safety in numbers. Add a property agent to your team because two heads are better than one, especially when the other is an expert.
The agent knows the neighborhood
The agent knows the area better than you do. On top of properties, how can you expect to be on top of what’s in the neighborhood as well? You just simply can’t.
You can’t expect to know – what amenities are around you, the nearest hospitals, schools; the specific character of a neighborhood, all the different travel routes to get where want to go; the nearest fresh food market or the new mall development project on the way. Even if it’s just that little park nearby that could eventually tip the scales.
The last thing you want to hear is that a highway will be constructed beside you after you’ve just handed over your life savings. Get a property agent to advise you on what you can expect and what to avoid in certain neighborhoods. See the list of the neighborhoods in Bangkok.
The costs involved
You will spend more by making mistakes through your own well-intended actions that were unfortunately misguided. An agent will make sure you make no mistakes at all. The agent will guide you through the only steps that are necessary today, in order to secure your dream home and finances for tomorrow.
You certainly don’t want to be locked into a legal obligation for years to come because you missed the fine print. On the other hand, you want to know exactly what you’re responsible for because it’s not included in the contract. The fact is, the agent has advised on countless property insurance plans and has gone through dozens of contracts, each with their own variation of legal wording that can have serious consequences. Let the agent comb through the contract and negotiate the back and forth revisions for you.
Don’t unnecessarily pay for anything upfront, get into the right payment structure now and avoid expensive blind spots years down the line.
If you have any questions about costs you’re unsure of, get some free advice from one of our recommended property agencies.
Dealing with the seller
There are times when you just don’t feel like negotiating with the seller. Maybe you lack the delicacy of it. Maybe you’re not assertive enough. Or maybe you just didn’t have your coffee that day. Don’t lose out on a discount or worse, the entire sale, just because you can’t find common ground with the seller.
With an agent you don’t have to worry about these sensibilities. The agent’s job is to put up with the seller’s odd behavior, and yours too, now that it’s mentioned. Yell at your agent if that’s your way of getting an important point across (although it’s not recommended). The agent has no choice but to tolerate you if he wants to keep his business.
Get an agent to mediate your terms to the seller to get the terms that you want.
The morale of the story, you may believe you can out think a real estate agent and save a few baht here and there. The reality is, without an agent, your chances of actually accomplishing that feat is a throw of the dice. There’s a reason why more and more property agency businesses are popping up in Thailand. People want expert advice whether they are renting or buying – they want to find their perfect place. Save yourself the money. Get an agent to advise you!