One of the immediate steps being taken to make this major change and standardized procedure for the industry is through a collaboration of the Real Estate Broker Association and Bangkok’s Kasem Bundit University (KBU), who will be developing a course on property brokerage. The course will be offered at both the undergraduate and graduate levels, educating existing brokers and industry-newcomers about laws, best practices and most importantly, ethics related to the profession.
When it becomes standard procedure to become registered and licensed, the confidence of both property buyers and sellers will grow while enabling authorities to collect more income taxes and prevent fraud. This is yet another sign that Thailand’s real estate industry is maturing and growing apart from its reputation as a market in which to tread lightly.