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  • Ray White Real Estate

    Anybody had any experience of using Ray White for buying/renting property or land in Indonesia? Good or bad experiences?

  • #2
    Originally posted by jonathan wilshere View Post
    Anybody had any experience of using Ray White for buying/renting property or land in Indonesia? Good or bad experiences?
    Sorry no, but I'm sure you would save a packet by just asking the locals in the neighborhood you are interested in.
    The locals usually know which houses are for sale and also they will get a small percentage of the sale price {much smaller than the Agents take}which in my book is far better than greedy Real Estate Agents taking a large commission.
    The other bonus is that you will meet some of your future neighbours who can give you some good insights into any plus or minus's of the location, stuff that Agents will either omit or gloss over.
    IknowthatyoubelieveyouunderstandwhatyouthinkIsaid, butI'mnotsureyourealisethatwhatyouheardisnotwhatI meant.

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    • #3
      they are not bad company depending on which office you go through and its better if you have a friend with you that speaks bahasa. Allot of the owners that rent their houses will want a down payment if you are interested in their house and sometimes they will want an increased security deposit if you are a bule. U can save some hassle if you have someone you trust that is local rent it for u in their name. I found the offices in south Jakarta easier to deal with, tip the Realtor or buy them lunch when they show you around and you will be treated allot nicer. One other thing is some of the agents have family members that work at coldwell or other competing agency's and will know who you are when you get to their office.
      Last edited by avdog; 15-08-09, 14:34.
      Madness? No this is Indo

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      • #4
        Thanks fellas! They have two different franchised offices in Malang and both were very helpful. As a potential buyer, I'm not expecting to pay commission. As a bule (even with Indonesian wife), I'm expecting I'll be paying more than a local - even through an agent. Unfair comment?

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        • #5
          Originally posted by jonathan wilshere View Post
          As a bule (even with Indonesian wife), I'm expecting I'll be paying more than a local - even through an agent. Unfair comment?
          Maybe every region may be a bit different, but where I live I would say that:
          - real estate agent are overpriced, sometimes 50% to 70% more than the real market rate.
          - you can have very good deal, even if you are a foreigner. It all depends on your bargaining skills, the time spent to research a plot of land, how bad the seller needs money and how bad the buyer wants the plot of land.
          Don't be in a rush, check thoroughfully the Sertifikat, go to see a few notaris before picking the one you feel the more confortable with. Check also that the annual taxes owed on the land have been paid.
          Last but not least, make clear with the seller that he has to pay the seller's tax while you will be paying the buyer's tax. If he forgets to do so, you are the one responsable fot it.

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          • #6
            The agents are real scammers from the few I've had cross my path.
            Better to stick to locals who will help you out. The real trick is not caring about the property you are looking at. Even if you love the place, you walk away if the price is too high. They will come back to you with an offer if they want to sell.

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            • #7
              As a Real Estate Sales agent my self for the past 15 years in the US,I wonder where do Indonesian RE agents get their 'COMPS' or comparison price when they put out a property for sale/lease....

              Is there any laws that regulate those in business in Indonesia that can guarantee a fair prices for all sort of clients or it is common to have two different price - one made for local and the other made for foreign clients?

              Perhaps someone can answer my curiosity,thanks.
              Last edited by IndoMom; 18-08-09, 20:59.
              [FONT=Book Antiqua]If you can't be kind, at least have the decency to be vague..[/FONT]

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              • #8
                I have no clue as to the law but I have seen the prices they try to charge. The sods in jogja were after 100 juta for rental on a property I know will be around 20 if you go direct.
                Bit of harga bule.
                Better just to avoid them.

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                • #9
                  Originally posted by IndoMom View Post
                  As a Real Estate Sales agent my self for the past 15 years in the US,I wonder where do Indonesian RE agents get their 'COMPS' or comparison price when they put out a property for sale/lease....

                  Is there any laws that regulate those in business in Indonesia that can guarantee a fair prices for all sort of clients or it is common to have two different price - one made for local and the other made for foreign clients?

                  Perhaps someone can answer my curiosity,thanks.
                  In the USA, I don't recall that there is any national law governing real estate pricing. The professional associations for appraisers and agents/brokers have professional standards and ethical codes, but unless individual states have such laws, I think agents are free to price property as they and the seller choose -- within the limits of their professional standards. In Indonesia, the climate is even more open. I gather that most agents do not belong to a professional association and I am not even sure one exists. In fact anyone can be an "agent" and by tradition be entitled to a commission on a sale.

                  My knowledge is anecdotal. If others have more to add or to correct, please do.

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                  • #10
                    Originally posted by fred uk View Post
                    I have no clue as to the law but I have seen the prices they try to charge. The sods in jogja were after 100 juta for rental on a property I know will be around 20 if you go direct.
                    Bit of harga bule.
                    Better just to avoid them.

                    100 Juta!!!, were you trying to rent the Kraton Fred?
                    I may be wrong but I usually call it bule harga, ahhh tidak apa2, tho' perhaps I will be taught the correct term from a learned co poster actually no, I'm sure I will be corrected...
                    IknowthatyoubelieveyouunderstandwhatyouthinkIsaid, butI'mnotsureyourealisethatwhatyouheardisnotwhatI meant.

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                    • #11
                      Originally posted by waarmstrong View Post
                      In the USA, I don't recall that there is any national law governing real estate pricing. The professional associations for appraisers and agents/brokers have professional standards and ethical codes, but unless individual states have such laws, I think agents are free to price property as they and the seller choose -- within the limits of their professional standards. In Indonesia, the climate is even more open. I gather that most agents do not belong to a professional association and I am not even sure one exists. In fact anyone can be an "agent" and by tradition be entitled to a commission on a sale.

                      My knowledge is anecdotal. If others have more to add or to correct, please do.
                      Waarmstrong, thank you for your answer - and I think you got to the right buttom there in regards to definition of 'agent' in Indonesia compare to The US. In the US we use 'COMPS' so we (Agent) can advise our clients on how to pricing their property in fairly manner,these can avoid overpricing or the other way around and of course clients can ask for any price they wants for their property.

                      And your right, there's no law for governing real estate pricing but there's more into an ethical issue and professional conduct for an agent/broker to give clients a guidance on how to price their property accordingly, something that you may not see in Indonesia since everyone can declare them self as an 'agent' and perhaps, because of the same issue,it is common to find a two different prices for the same property in Indonesia - one intended for 'local' and the other for 'foreign' buyer.

                      BTW, still on my plan to visit Indonesia in December - looking forward to meet you,wifey and your little princess for dinner

                      PS. Sorry OP - I don't mean to hijacking your post.....
                      [FONT=Book Antiqua]If you can't be kind, at least have the decency to be vague..[/FONT]

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                      • #12
                        If you want a better deal , I also would recommend not to use agents . This type of agent is relatively new in Indonesia , some owners still try to sell by themselves with the help of the neighbors/relatives/friends . I bought my house through one of the neighbors who is my wife's relative .
                        Last edited by marcus; 20-08-09, 11:16.

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                        • #13
                          I used an agent (Indohome) when looking for a house to rent last year. They were very useful in that it was a quick way to find out about all the properties available rather than traipsing around looking for signs. I did find that they quoted silly prices but in every case this would drop like a stone with negotiation. They started at 45Jt for two years and dropped to 27Jt - which was quite reasonable - after a lot of nagging.

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                          • #14
                            Good point Gffgold, everything is negotiable whether you use an agent or not. There are agents with a small "a," as well as the traditional western style agents, although the latter are relatively new to Indonesia and lack many of the formalities common in in the USA, such as a multiple listing service. In keeping with Marcus's comment, the small "a" agents are most likely to be relatives and friends, or friends of friends -- essentially anyone who knows you are looking. For being the first to hook you up to a property, tradition grants them a 2% commission from the seller. This as noted above is negotiable, as well.

                            By the way, did anyone notice that the new regional tax law provides for the local jurisdictions to collect up to 5% on the sale real estate. I presume that is on top of the current transfer taxes of 5% for the seller and 5% paid by the buyer. Even though the taxes are percentages of the NJOP ( usually less than the selling price) a 15% tax at the transfer of ownership is going to be a real drag on the market.
                            Last edited by waarmstrong; 20-08-09, 20:35.

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