8 Vital Questions to ask Before Selecting your Phuket Real Estate Agent
8 Vital Questions to ask Before Selecting your Phuket Real Estate Agent
The real estate market in Thailand is dynamic, diverse and downright gorgeous but it can appear challenging to enter for the new and unaccustomed. It is therefore essential to ensure that you have the right agent that can guide you through the cloudiness of relocation.
But, with over 600 agents on the paradise island, how can you ensure that you find the right agent that will meet your needs with the least amount of hassle or head-scratching on your behalf?
The answer is that you need to ensure you are equipped with a checklist of the correct questions to ask your prospective agent that will give you a good sense of if they are indeed fit for the task.
In this article, we at SEA Property, using our 25 years of experience in the property market list our top 8 questions to ask agents before making your final decision of who to move forward with.
What is the role of a real estate agent in Phuket?
The Phuket realty market is unlike that of the markets of more developed nations like you will find in Europe and the Americas as you cannot find the historical record of sales and pricing. This makes the role of the agent even more vital to improve the clarity of the buying situation and make sure you never pay more than a property is worth.
An effective agent should be able to take the stress off your shoulders by providing a comprehensive overview of the current state of the market, its direction, and what pitfalls to keep an eye on using their experience in the market in question.
They will also walk you through the transaction process, supporting you as you complete your offer and making sure your contract includes all the right clauses to protect you. Without an agent, you may be faced with doing all the paperwork and legwork yourself, which could cost you money or even your perfect home down the line.
1. How much experience do you have in the market?
Albert Einstein was famously quoted as saying that “the only source of knowledge is experience” and this couldn’t be more correct in real estate. An agent that has been involved in the local market for an extended period of time will have an in-depth understanding of the ownership structure, pricing over the last few years, which properties to avoid, and be able to anticipate issues that may arise long before they ever do in addition to possessing field-tested negotiation techniques.
2. How will you determine what home matches my wants and needs?
It is also vital that you ensure your agent is asking the correct questions about your enquiry before deciding to move forward with them. This will give you an indication of the level of interest they have in handling your request.
3. How long does it typically take buyers who have worked with you to find a home?
The process of purchasing your dream home is never going to be completed in a flash, especially when delving into a new market with new challenges and expectations. However a good agent with adequate experience in the legal and bureaucratic procedures should be able to provide you with an approximate timeline from source to sale.
4. How and how often will you be keeping in contact with me during the buying process?
An effective agent will also be able to provide continuous updates regarding the progress of your sale or accurate market update if you are not yet ready to buy. It is a good idea to ensure that your agent is contacting you on your preferred channel of communication so make this clear from the start.
5. Do you work full-time or part-time as a real estate agent?
This one is fairly obvious, but agents who operate on a full-time basis will be able to devote more of their time to helping with your requests and will be able to act quicker when something needs attention. Moreover they are likely to have a greater deal of professional experience in the industry whilst having a back office to support them in making and closing deals.
6. How many buyers are you currently representing?
This is an important question to ask and yet the answer may be deceptive. Agents with too few clients are most definitely a cause for concern as it means that they do not yet have the trust and reputation within the market. Too many clients can obviously mean that there may be less direct focus on your specific case but it is definitely a preferable alternative.
7. Do you work with both buyers and sellers?
Agents that work closely with both parties can provide valuable insights when it comes to negotiating the specifics of a deal and can be a powerful mediator in the deal-making process.
8. Can you explain to me how foreigners can own property in Thailand?
This is perhaps the most common question that is asked to us as an agent in Phuket but it is perhaps the most important to clarify due to the variability of ownership structures here in Thailand. If your agent is unable to provide a clear answer to this question, they are probably the wrong choice.
What’s next?
When you are looking to buy particularly in such a new and previously unexplored market (which Phuket is for many people), an agent can be the difference between making your life plain sailing or a long-winded and stormy cruise with lots of being sick. Therefore it is essential you ask questions that hit the right spots that will allow you to feel comfortable and at-ease with your investment.
With over 25 years of experience in Phuket real estate, we can ensure a calm and smooth buying process for you every time.
For more information about buying property with us, please contact us directly at:
📞+66 81 891 6143
🌐 https://sea-property.com/contact-us
Or click here to check out our diverse listings.
