A shocking lack of knowledge

The lack of knowledge displayed from a “new” real estate agent that I met yesterday was worrying to the extent of being shocking.

Sadly, I think this agent is typical of the new, younger breed of Thai real estate agents who think selling property is easy money because “their friends do it”.

My agent had recently moved from the financial sector. She was trying to sell a group of units at a development near Punniwithi.

She failed to answer any of my questions, and also failed to display any kind of reaction when I told her that the prices she was asking meant any buy-to-rent investors would end up losing money on her deals.

Put simply, she knew nothing about the development, it’s current asking prices on the open market nor the expected rental return rates.

As I understand it, these units were purchased in bulk, off-plan, by a friend of the developer.

My agent was unable to confirm if the multiple units she was selling were in the Thai or Foreign sector. and couldn’t display the knowledge between freehold and leasehold ownership.

I pity this real estate agent. Her English language was almost non-existent and I fear she will fail to sell anything unless she benefits from some serious training and mentoring from experienced agents.

She is not alone and is a perfect example of why real estate training and regulation must become mandatory in Thailand.

I’m in the minority with those views, but whether it’s one-year or ten-years, it needs to happen for Thailand to compete with its regional counterparts.

At least it’s refreshing to hear the one of Thailand biggest real estate franchises will be making it mandatory for all of its real estate agents to undertake, and pass, a property law course. That’s excellent news.

This article was written by Andrew Batt, the Founder and Editor of ThailandProperty.News.