One Thailand real estate agent has been threatened with legal action for posting a listing for a hotel for sale.
The real estate agent, who claimed to have possible buyers and investors for the branded hotel property, was asked to immediately remove the listing, despite at least four other listings currently appearing online in Thai.
The listing was removed immediately.
Speaking to ThailandProperty.News on condition of anonymity, the agent was somewhat annoyed that at least four Thai language listings for the prominent branded hotel remained online, and attracting possible buyers and investors.
The real estate agent admitted there was no arrangement with the hotel to market its possible sale, but that this was the first time legal action had been threatened for trying to assist with a sale.
It would seem the hotel in question may have signed a sole agency sales agreement, and thus wanted to ensure complete exclusivity for this potential deal. They would also, no doubt, want to avoid any possible negative publicity as a result of a possible sale.
But at the same time, if a buyer or investor from outside that agency were to be introduced, it would seem foolish to ignore the inquiry. That sole agency may not know all potential buyers, and in this case a possible buyer would never be known to them.
The moral of this story is for real estate agents to ensure they have permission to sell a property before spending their valuable time and marketing on something that could yield absolutely nothing, and for owners to ensure they are not missing out on possible multi-million baht sales.