Thailand is home to some of the best property investment opportunities on the planet. Property prices there are typically several times cheaper than similar properties in larger economies, and the country also offers breathtaking scenery, a wonderful climate, and an appealing lifestyle. However, buying or selling a property there means navigating the complexities of the country’s laws and regulations.

There are, of course, real estate agents who can help you do this. The trouble is that the quality and reliability of agents can vary. The profession is open to anyone, and there is no licence or even any training required. This means that before you start your Thai property journey you need to be able to find reputable agents who understand the market well and who will look out for your best interests. This article provides a few handy tips on how to do just that.

Use the right type of agent

Real estate agents in Thailand broadly fall into three categories. No single category is always better than the others – which one you should use depends on the property you want to buy.

First, there are independent agents. They work for themselves and their main source of income is the commission they earn on closed deals. Therefore, they are strongly incentivised to work hard to get you a deal. This is great if you’ve seen, say, a specific villa for sale in Phuket that you really want. If you are still browsing properties, they often have a smaller selection to show you than other agents.

Next, there are hired agents. These are salaried employees of large real estate companies. They might not be as motivated as independent agents because they will still have an income whether a deal closes or not. These generally have the widest range of properties to show, which is good if you haven’t got a specific property in mind.

The third type are sole agents. They exclusively sell properties from certain owners or developers. If the owner of a specific beach home you like uses a sole agent, you will have no choice but to go through them.

Credentials

While no qualifications are required by law for real estate agents in Thailand, there are professional associations such as REBA and TREBA which they can belong to. Doing so is a sign of high standards of professionalism and ethics.

Experience and expertise

You can expect an agent who has been operating in Thailand for several years to have a better understanding of legal requirements and market trends than someone very new. It’s even better if they’ve worked in the locality where you are looking to buy for many years.

Transparent fees

Any reputable agent will provide you upfront with a breakdown of their fees and commission structure, as well as any other costs involved in property transactions. Refusal to do so, or the continual appearance of unexpected costs later in the process, are big red flags.

Conclusion

Acquiring property in Thailand can be very rewarding, but it also comes with a few challenges. Finding a reliable and experienced real estate agent is crucial for overcoming these. The tips above will help you find an agent you can trust.