PHUKET: During the green season in Phuket, most real estate brokers spend their time listing new properties to boost up their listing stock ahead of the high season. Good & varied listings across the market segmentation of the property market are ideal to appeal to a wider spectrum of clients. Property listings need not necessarily be large in numbers, but being quality listings and in accordance with the client’s demands are crucial.
The real estate market in Thailand works mostly on ‘non-exclusive’ listing agreements and that is no exception in Phuket. Exclusive listing allows the appointed agent the sole rights to sell the property. It is normal for exclusive agents to work with other real estate agents to list and sell the property. In exclusive listings, a commission is payable to the exclusive agent regardless of which agent sells the property and the agent who sells the property also receives a commission.
A non-exclusive listing is when a property owner is allowed to list their property with different agents simultaneously. This allows the property owner the freedom to market the property themselves and through different agents and only pay a commission to the agent that completes the sale of the property.
As different agents have different clientele, this also allows the property to receive wider exposure to the property market. The downside to a non-exclusive listing is that some agents have thousands of listings and a property owner’s property may be ‘drowned’ in those listings and unless the agent remembers your property, the property might not be marketed efficiently, nor viewed by any potential clients.
Real estate agents are now resorting to social media as a tool to promote and market properties. The use of Facebook, Twitter, Instagram and others is common nowadays, with a wide global reach. Some accounts even have followers in the thousands and millions.
If those followers were to share the post then even more people would see it. Information shared through social media is fast and it doesn’t cost extra. A photo followed by a caption not more than 140 characters may not immediately sell a property, but it may spark interest and a potential client can post questions or requests for more information to get the ball rolling.
With the amount of content passing through social media every second, the photo used has to be eye catching, of good quality or even thought provoking. A short precise description is all that is needed to accompany the photo.
Photos are one of the first gateways to introduce the property to the market and we cannot stress the importance of the use of professional photos.
A professional photographer would be able to produce signature shots for the property that can be effectively used on social media, in website listings and any other printed media.
Amy Koh is the sales manager of Engel & Voelkers Phuket. To contact Amy, or for more information, visit engel voelkers.com/en/phuket
— Amy Koh
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