how can a farang work in thailand and sell Real Estate

[youngsoiwalker]

I would love to work in Bangkok as a Real Estate agent but i dont know how. does anybody have any idea

[farangnbkk]

Do you have experience?

Do you have any knowledge of the local market?

Are you looking at retail, corporate or industrial?

If the answer to the first questions are both no, then I doubt you'd be successful. But crazier things have happened.

Given your question, I'd assume you're talking retail. Can easily setup your own shop to help farangs, but you'll be doing everything from scratch. There's no such thing as multi-listing or even listings over here.

Then the question is how are you going to get clients? The large companies use the big name real estate agents. You'll be left with the internet and school teachers. School teachers isn't the best target market, and with the internet, you'll never be able to separate the serious people from those who are just curious.

Combine that with the fact that the high end condo market and moo baans is currently saturated and it's going to get worse in the next year as stuff in development gets finished. How bad is it? Developers are giving CARS away as enticements to buy real estate. It's not pretty and it's going to get worse.

[youngsoiwalker]

thanks for your reply about realestate in bangkok

i have been selling real estate in san francisco for prudential since 1999. i am sure if sombody gave me a try in bangkok i would not disapoint them. i have invested in many building back home and am doing quite well. i am sure if i was able to get my foot in the door i would be able to take off.

[farangnbkk]

Let's be honest here.

You are talking about the residential market. You haven't answered my question about knowledge of the local market. So I'm assuming you have none.

Also assuming you don't speak Thai.

How can you justify an employer taking a gamble on hiring you? The laws are much different over here and you'll need substantial support because you do not speak Thai?

Honestly, there is no justification for an employer to take a gamble on you especially considering they will have to invest quite a bit in getting you up to speed on local laws and market knowledge. While your target farang market is expanding, it's still incredibly small.

Open your own shop, it isn't going to happen another way.

"i have invested in many building back home and am doing quite well" huh? Are you saying you have real estate investments and they are performing well?

That's something you can do over here. I know two people who have bought several condos and rent them out. Current cashflow is pretty good.

Now would be a good time to come over. Spend a year researching the market while living off of the cashflow generated by your assets in SF. By that time, another 5,000 condos will hit the market and it will be saturated. Should be able to get some decent deals. Sell an asset or two in America and diversify yourself in some assets here.

Otherwise no one is going to take a chance on a farang with no local experience, no connections, and no thai language skills.

[dojib854]

Some people are negative and some are positive,!

I have seen many times in Bangkok Post where real estae companies are looking for foreigners as real esteate agents or GMs for real estae companies. If you have a long experience in real estae I cant't see why that should be a problem in Thailand. Everything is not bought by Thais!

[bored]

if u have previous experience and some friends involved into thai real estate it won't be a problem to get work.

i used to work like an agent for a while. the market is quite slow now comparing to 2002-2003. it went down last year but it's still working. most of the prices have rocketed and the demand is for cheap deals. good luck with the indian customers looking for "good deals". they are legendary among local brokers :wink:

it's not enough to drive and talk in pattaya. you must be able to drive drunk, talk on your mobile and not being affected by the treatment your co-pilot is giving you :shock:

[Japhrodisiac]

Your other post about that fly by night investment scam, is losing you credibility wioth anyone on here that might be able to help you. I think it would be a good time to buy some condos, sit on them and so on, but for you to hop into the sales market, you would need a thai assistant, a nice car, an office, a lot of contacts already. Farang gave some good advice, its doable, but not in the same way as approaching a real estate broker in the west. Budget accordingly and in a year or two things will swing back and you should be in a better position to take advantage.