Trying to navigate the Thai property market without a real estate agent is not so dissimilar to jumping out of an aeroplane without a parachute because you’d rather ‘wing it’. It’s a long way down and you’ll have plenty of time to think about what a blunder you’ve made.
Not convinced? Read on and we’ll tell you why you shouldn’t try to navigate the Thai property market without a real estate agent in your corner…
It is possible but it ain’t easy
First and foremost, it is entirely possible to navigate the Thai property market without the proper representation, but it’s not easy – especially if you have no prior experience buying & selling property and you don’t speak Thai at least semi-fluently.
There’s a lot of red tape
Even the most seasoned property investors struggle with foreign real estate markets – and Thailand is no exception. In fact, as a foreigner, the real estate market is even more complex and requires plenty of due-diligence in order to properly (and safely) navigate it.
The laws are complicated
It’s not just a real estate agent that you should have on your side, but some legal representation as well. This is because Thai law is incredibly complicated and there are many restrictions and considerations that you should be aware of; for example, looking for land for sale in Thailand as a foreigner is not impossible – but there are rules and restrictions that will require certain workarounds (e.g., buying through a limited Thai company that you partially own, etc.).
Fortunately, most reputable real estate agents can hook you up with the necessary legal support so you don’t have to worry.
The market is saturated
Don’t make the assumption that just because there are countless properties available on the market that you’ll have an easy time finding the perfect one for you. In fact, in some cases, separating the proverbial wheat from the chaff can be excruciatingly difficult.
This is why hiring a reputable real estate agency to assist you in your search is highly recommended. You can make a list of everything you can and cannot live without, and then your chosen real estate agent can go out and find some prospective properties that tick all the right boxes.
Because there’s so much else to do!
Let’s be honest…why would you want to spend all of that extra time navigating the Thai real estate market all by yourself when there are so many things to do in Thailand (not to mention the fact that you could speed the process up considerably with some professional assistance)? Why go to all that extra effort…when you could be laid up on some tropical beach in Phuket, sipping on a cocktail while getting a foot massage? Priorities my friend! Priorities!
Make no mistake, navigating the real estate market with the WRONG real estate agency can be a nightmare as well. As such, hiring the first agency you come across isn’t recommended. Instead, you should spend some time researching the various companies available, read up on their social proof and reviews, and go from there. So long as you do your due-diligence and find a respected company with a proven track record, it will be plain sailing. Happy hunting!