Navigating the Bangkok Property scene can be a dizzying and confusing affair; the capital offers thousands of condos, hundreds of areas (Each offering its own character and lifestyle benefits) and each property offers its own unique specifications.

Therefore whether you are a home seeker, investor or potential tenant using the services of a local property professional is the easiest and most convenient way forward.

However unlike other global counter parts, Thailand does not enforce any realtor regulations on Property Agents and the profession is not monitored by a governing body. It may come as a surprise, that there is no license or professional training course required to become an Agent. Therefore this has resulted in a wide-variation in standards and quality of services offered between different Agencies and Agents.

As a property seeker, selecting the right Property Agent is important as they can ensure you are getting the best value for your money!

Therefore this article will categorize the various types of Agents you will come across in the capital and review the pros and cons of each type:

1. Freelance Agents

By far the most common type of Agent you will encounter in Bangkok!

Interestingly the career of a Property Agent is particularly appealing due to its unlimited earning potential and seemingly low costs of operations. Bangkok offers a unique business environment, where entrepreneurship is encouraged. Therefore Thai professionals of all backgrounds often decide to make the career transition into Freelance Agents, offering their personal services to buyers and tenants.

Pros:
Since these Professionals are self-employment relying solely on “deals” for their living expenses, these Agents tend to be extremely motivated. They can also sometimes offer a highly-personalized level of service. In many cases, they will negotiate hard and this can potentially achieve lower prices for the clients they are servicing.

Cons:
Standards vary enormously between Freelancers, as some simply do not come from formal property backgrounds. This may be an issue especially during formal parts of a sale or rental such as contract negotiation.
Also, for Tenancies requiring on-going property management support, this may be an issue as Freelancers sometimes get overwhelmed.

2. New Development Promoters

New developments are mushrooming all over Bangkok and this has given rise to numerous Agents/Agencies specializing in the sales of off-plan properties. Promoters can be “whole of the market” meaning they advertise and sell new-projects all over Bangkok or sole-agents connected to a specific project or developer.

Pros:
For investors interested in off-plan only, they can potentially offer market insight into new-launches. Depending on the Agency, certain companies benefit from special agreements with the Property Developers meaning they are able to offer special non-standard discounts, conditions and benefits. Some large global promoters even offer schemes such as “rental yield guarantees” and “furniture packages” not normally available to the public.

Cons:
Some promoters have a limited choice of New Developments to offer; therefore they market only a narrow spectrum of options to investors. In some cases investors are better-off approaching developers directly.

3. Franchises

Bangkok is an international city with a booming real estate market. This has encouraged international agencies to set-up operations in the city. In the past few years the capital has seen the emergence of American property brands such as Century 21 and Remax.

Pros:
These agencies usually offer an international-level of service and offerings, as their operations are monitored by the regional head office. It is important to note that they usually offer good service standards, with a professional level of administrative support to clients and landlords.

Cons:
It is important to note that each office is essentially a franchise, that is run and operated by different owners. So agency operation size, offerings and level of service varies depending on the office/business.

4. Independent Agencies

These are Property Agencies that offer a complete level of services from second-hand re-sales, off-plan development promotion, leasing/lettings and sometimes property management services. They tend to employ Agents full-time and have supporting administrative teams.

Pros:
They tend to cover a wide-range of areas and since they are marketing numerous different properties they can offer unbiased advice and consultation services to clients. Independent Agencies also usually have supporting administrative departments; this means property transactions can be completed more smoothly and professionally. Usually Agencies have highly-trained Agents with extensive local knowledge and strong negotiation skills.

Cons:
Unfortunately in Bangkok since no license is required to engage in the estate agency business, again standards can vary between property agencies.

An evaluation of the different Types of Agents in the capital would be incomplete without some shameless self-promotion!

So what type of Agency is Fresh Property?

As you might have guessed Fresh is an Independent Agency.

Our Agency provides extensive consultation services, offering a wide range of services to clients and landlords. Our Agents are highly-trained specialists with extensive local knowledge. We offer a variety of properties in different parts of the Central Business District and we are able to match clients with the right units based on their individual requirements!