Many people prefer to work with a realtor to complete a real estate purchase and sale transaction. The job of the realtor is to choose an apartment that perfectly suits your budget and lifestyle. Furthermore, these agents help you in navigating the procedure of buying, drawing up an agreement, inspecting the house, and then negotiating it with other parties. Realtors act responsibly and ethically while working with buyers and sellers. And, they help people to make a successful transaction in order to bring a good income.
A realtor or property consultant is an intermediary in real estate transactions (purchase and sale, exchange, rent) who receives commission interest in the result of any transaction. A real estate agent is a manager who will competently and professionally carry out the property work. In addition, these agents are possessed with certain knowledge and skills in order to perform their duties.
The realtor must conclude a written contract that lays down the procedure for the provision of services. Meanwhile, The agent represents the interests of the client under this contract and must act in accordance with the laws. So, in regards to hiring an agent, you must have knowledge of housing, land codes, regulations, legal acts, instructions, and other legal documents that are necessary for buying a property in Thailand.
But among all this, how does a Thai real estate agent earn more? For finding the answer to this question, let’s have a look at the following guide.
Table of Content
Tips for Earning More While Working As A Property Agent in Thailand
- Work as A Property Manager
- Buy to Collect Rent
- Become a Developer Agent
- Buy to Flip and Sell
- Property Consultant
- Build Your Client/Referral Portfolio
Tips for Earning More While Working As A Property Agent in Thailand
Work as A Property Manager
With ever-booming trends in property, people come up as more property investors. Some of them have multiple properties and adopt different techniques to sell them. In this case, how does an entrepreneur property agent help and search for these investors? So, they can become a successful property manager. This means that you need to find the tenants for them, and offer to meet the tenants’ requirements for as long as you are the property manager. You will receive a cut of the rental monthly and the returns can be fairly decent. But it may all eventually get tiring if the property demands high maintenance.
Buy to Collect Rent
A more productive way to earn a return on your investment is to buy a property, so you rent out to someone else. This means that you live in a different property and someone else lives in the investment property. It is an investment because you can sell the property for a higher price than what you bought it for due to the visualization of the land beneath it. At the same time, you can accumulate rental income that is higher than the mortgage. This means that you will earn extra money each month for owning the property. This is a quicker and more effective way to make a higher return than living in the property yourself. The houses for sale in Thailand are available at an all-inclusive price.
Become a Developer Agent
Many property agents have discovered a fast trick of becoming an agent for developers. This is because there are always representatives whether the market is on peak or down. The first few developer agents usually obtain a very generous amount of money, especially since they do not have to cut their commission to their agency. This method works. But you need links to the developer to become their agent in the first place. And, many agents do not take this as a long term job because they usually disappear after the preponderance of the development has been sold out.
Buy to Flip and Sell
The fastest way to make a return on your investment is to purchase a property that will immediately sell for much more than what you bought it for. One way to do this is to spend in a fixer-upper property of a good area. Location is everything when it comes to selling or buying a property. But some people do not have the time to buy a property in a great location and then spend some money on renovation. If you can afford it, trust that your return will be fast and powerful.
This option needs meaningful upfront money. However, purchasing in bulk is an excellent method to obtain a bigger return. You are often eager to discover best deals with developers who want to sell their properties. As the investor, it gives you a great advantage when it comes time to sell the properties. If you perceive a great deal on a large number of properties, then you can then sell them according to market price and obtain major returns. Buying a whole floor of a condominium building and then live in one while renting out the others or sell when the land beneath the condo appreciates. This definitely brings a major ROI.
Eventually, when you have been an agent for long enough, you will have the contacts and network to find the best below properties in the market. At this point, you can make property investors your main buyers by hunting out the best deals for them. Buying a house involves several requirements like the location, a number of floors, approximate area, material, availability of communications, and price of the house. Without sufficient knowledge of the market, it is very difficult to make an independent that would suit all parameters. The property consultant who has long been working with such parameters is able to immediately offer several options for buying a property.
Build Your Client/Referral Portfolio
The best way to earn more money is to build your portfolio. So, get a mentor and use your network for spreading words about your business in the market. You must have to learn the profession from your mentor while earning your first commission checks. Also, ask your friends and family for referrals of people who are contemplating buying or selling a home. It is a great way to begin networking. Someone’s always looking for a new home, and the referral may help in earning more money.
A good real estate agent will help you in achieving a better transaction. They carefully select housing for their client and monitor the transaction for concluding the contracts. With the help of an agent, you save your valuable time because in one place you can see all the objects of interest to you. So, if you want to earn more money and be new in a market as a realtor, then you must seek help from professional and experienced agents.
David Lane is working as a Realtor for Thailand Property – Which provides bangkok best property agent services to foriegn clients. Being a realtor, his exceptional knowledge of the market helped him a lot in selling properties all over Thailand. He has a passion for writing and loves to share his real estate related knowledge with people.