Should I Buy Privately or Use a Professional Real Estate Broker?
By Ernie Draper, Managing Director / Co-Founder, Isan Real Estate Co., Ltd.
When purchasing property in Thailand, it is crucial to consider the risks of buying privately versus the security of working with a professional real estate broker like Isan Real Estate Co., Ltd. Far too often, we hear from buyers who have fallen victim to shady deals, leading to financial losses and emotional distress. For instance, a recent case involved buyers who placed a substantial deposit on land they believed they had purchased, only to discover later that the true owners had no intention of selling. The so-called representative who orchestrated the deal disappeared, leaving the buyers without recourse and out 150,000 THB. Unfortunately, these situations arise because buyers fail to conduct proper due diligence, such as verifying ownership or ensuring the representative’s authority to sell the property.
Thailand’s real estate industry is largely unregulated, making it easy for unscrupulous individuals to take advantage of unwary buyers. Engaging a professional real estate broker from the outset can mitigate these risks. Brokers like Isan Real Estate Co., Ltd. act as intermediaries between buyers and sellers, ensuring that all legalities are adhered to, ownership is verified, and contracts are properly reviewed before any financial commitments are made. Although brokers cannot entirely shield buyers from fraud, they significantly reduce the likelihood of falling prey to illegal practices.
Using a professional broker also provides access to expert services without additional cost to the buyer, as brokers typically receive their commission from the seller. Professional brokers verify the legal ownership of properties by reviewing original title deeds (Chanotes), confirming seller identities, and inspecting property details. They also conduct thorough appraisals based on market conditions, construction quality, and property features to ensure that the listed price reflects the property’s true value. Unlike the misconception that brokers inflate prices to include fees, reputable brokers prioritize transparency and market properties at competitive prices to attract serious buyers.
Private sellers, on the other hand, may lack knowledge of market trends and legal requirements, leading to overpricing or insufficient due diligence. Professional brokers, like those at Isan Real Estate Co., Ltd., leverage their expertise to provide accurate appraisals and tailor marketing strategies to attract the right buyer demographics. They also guide clients through every step of the transaction, from negotiations to property transfer, ensuring a smooth and legally compliant process. Even after the sale, brokers assist with utilities, ownership transfers, and other post-purchase tasks, reinforcing their commitment to client satisfaction.
For those considering buying privately, the mantra “Buyer Beware” is paramount. Without the guidance of a professional, buyers must thoroughly understand Thailand’s land ownership laws, verify property details, and scrutinize contracts to avoid pitfalls. However, partnering with a trusted real estate broker eliminates much of this burden and provides peace of mind. Isan Real Estate Co., Ltd. not only ensures legal compliance but also delivers an unmatched level of service to buyers and sellers alike, making your real estate journey safe, transparent, and stress-free.
By choosing a professional broker, you are not just purchasing a property—you are safeguarding your investment and gaining a partner who prioritizes your interests. When it comes to real estate in Thailand, trust the professionals at Isan Real Estate Co., Ltd. to guide you every step of the way.
Disclaimer: This article is composed and published by a Professional Real Estate Broker and the opinions herein are those of the author based on true accounts and encounters within the business circle of Thailand Real Estate. No reference is intended to any individual or entity and is only written with assistance to buyers without bias. The author highly recommends you seek professional advice on all Real Estate matters relating to the sale and purchase of properties within the Kingdom of Thailand and not use this article as your sole reference.