Consumers Trust and Buying Selling Property Online
19 Apr 2019
plus talk
The internet has not only become part of everyday life, it has also become a channel for making transactions. These transactions may be financial transactions, online purchases of items, or real estate transactions. Plus Property’s collection of data from www.plus.co.th reveals that there are more than 100,000 site visitors each month. It is unsurprising that we will resort to searching online for a condo to buy or to rent, and select properties through websites. But in truth, there are many steps and details associated with buying, selling and renting property. There is also the matter of contract making. This is especially true for a transaction of property where the ownership has to be transferred; the process and the associated documents need to be facilitated by state agencies.
Owing to the aforementioned, the real estate representative that we call an agent come in very handy as the primary assistant. The agent will find clients who have potential, and will help the owner close the deal. The agent will also provide analyses of clients and reach towards the latter with efficiency. Selling a room through an agent or contacting an agent to buy or rent a room means the agent will be able to provide the client with details of the room and in-depth consultation that will aid in decision-making. The agent will be the medium between the buyer and seller, sparing both parties from unsettling negotiations and also handling affairs related to documents. Buying, selling and renting a condo is made more convenient.
Real estate agents have prominent roles in many countries, such as in the United States where people generally prefer buying property through an agent instead of arranging the transaction directly between the buying and selling parties. Although an agent fee of 5-6% had to be paid, this method is favored because of the higher efficiency. The same is true for England, with transactions generally made through agents but with an additional reason being that real estate transactions are required to be supervised by a lawyer. In Thailand, the agent fee is about 3%.
As for the overall picture of condo buying, selling and renting, collection of data by Plus Property’s research and development division revealed that the resale and rental markets for condominiums have grown continuously over the previous 4 years.The number of clients who wanted to purchase a resale condo unit grew by 50% per year on average. The number of blietns who wanted to rent a condo unit grew by an average of 10% per year. This demonstrates the vigor of the condominium buying, selling and renting scenes and the tendency for these markets to grow. Collection of data from clients also revealed that prior to using agents, clients started to experience hassles at the step of finding a condo that the client desires. During this step, clients expended much time looking at details and pictures of rooms on bulletin websites, and frequently run into problems such as insufficient information being provided and difficulty contacting the room owner. Another issue include the client’s own inexperience with associated documents, the mortgage filing process, and contract-making. Some individuals also experienced problems when negotiating the price and relevant details with the room owner.
It should be noted, however, that using agents is not always absolutely beneficial. Choosing a bad agent may result in lack of professionalism, or worse, fraud. Before selecting an agent, study up on information and make a thorough evaluation. Select an agent that is credible and professional. Using an agent will entail an agent fee; to get the money’s worth, find an agent that can offer convenience, reduce associated complexities, and respond to the client’s demands.
Special column “PropNow” by Plus Property, at propholic.com
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Plus Property is a full-service real estate agency that provides comprehensive assistance in reselling/letting properties and the purchasing of second-hand condominium units. PLUS manages both residential and commercial property projects and oversees the sale and marketing of development projects. PLUS’s professional team has more than 20 years’ experience and is on hand to take care of all of your property-related needs. For more information about our services, call 02 688 7555 or click here
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