Yula.la News

When it comes to buying, selling, or renting a house in Laos, it usually follows with additional fees like commission and valuation fees when you decide to contact a real estate agent for your dream home. It’s worth keeping in mind that you need to do thorough research on these agents and negotiate with them effectively to acquire a good quality service within a reasonable price range.

Here’s how the commission and valuation fees in Laos work. 

The real estate agents in Laos usually act as a broker, in which they locate, advertise, and arrange meetings between the owner and tenant. For most of the agents in Laos, the commission fee is a minimum of 3% of the total property’s value after the deal is completed. As for the rent, if it’s in the case of a 1-year lease, you will have to pay a 1-month rental amount of commission fee. The commission fee also depending on the negotiation you have with the owner or the agent. 

As for the Valuation fee, the owner needs a valuation firm to define the estate’s value to calculate the charges. Usually, the firm needs property information to determine the appraisal fee and issue a quotation to the customer. When the client agrees, they will sign an appraisal as a reference and the firm will begin surveying the physical and legal status of the property, land inquiries with neighboring districts, and other real estate inquiries.

 For example, if the real estate is valued below $100,000, the owner needs to pay a valuation fee of 0.17% or a minimum of $170. For each valuation firm, they’d have their own calculation on their service fees depending on each case with the pre-agreement between the owner and the firm.

To avoid unnecessary fees upon your agreement with the owner or agent, make sure you address all your needs and concerns and so that all parties are satisfied with the terms. You can contact the sole agent or the real estate agent company for more information on the estate and fees you have to pay.

Written By: Vanida Souvanavong