Published on : 13 May 20204 min reading time
You can choose to go through a professional to sell your property. This approach saves you a lot of chores and ensures you benefit from informed advice to prepare the sale. However, you must budget for this service!
Selling with a real estate agent: a time saver
A majority of French people go through a professional (real estate agent or notary) to sell their home faster. Others prefer to sell without a real estate agency on websites for sale between individuals.
Price estimation, advertising on real estate portals, organisation of visits… those who go through a real estate agent often save precious time at the time of sale.
Some sellers opt for the combination of both, i.e. a real estate ad on a website for sale between individuals and a sales mandate with a professional. This strategy is not always a winning strategy and can take a lot of time.
What is the real estate agent’s remuneration?
The remuneration of the professional represents between 5 and 8% of the value of the property, sometimes less if you go through a real estate agency called “low cost” which will offer services of 1 to 2%.
The agency commission is negotiable at the time of the signature of the sale mandate and if you have a property purchase offer that is too low, the agent will sometimes make an effort on it.
The real estate agent’s commission is paid by the seller and the sale price often takes this into account. In the pre-contract, it is generally stipulated that this commission is to be paid by the buyer. This does not change anything for you, the seller, but allows your buyer to pay transfer duties (notary’s fees) only on the sale price and not on the commission.
How to choose the right real estate agent?
Preferably choose a local professional with a good knowledge of your area. An agency affiliated to a large network is often a guarantee of higher visibility. Indeed, if you make this choice, your property will be in the portfolio of all the agencies of a network.
On the other hand, if you are selling an atypical property (a house in Paris, a loft in the inner suburbs or a property classified as a historic monument in the provinces), you should contact a specialist. The address book of this expert is an asset to sell your property quickly and well.
The signature of the sale mandate: a binding document
Before you engage with a professional, always check the seriousness of the agency. Start by making sure that the real estate agent is professionally competent. He or she must hold a professional card.
Next, find out about the advertising planned for your property (advertisements in the window, on the website, in local or national newspapers, etc.).
Selling your property with a notary
In certain regions of western France, you can go through a notary to sell your property. He plays the same role as a real estate agent. As his fees are regulated, they are often lower than those of a real estate agent. Whatever the mandate, its validity must always be limited in time. Otherwise, it is legally considered null and void.
Which mandate to sign?
In concrete terms, there are different sales mandates: the simple mandate or the exclusive mandate. With the simple mandate, you put your property up for sale in several agencies and can, if necessary, sell it directly to a private individual. With the exclusive mandate, you entrust your property to a single agency and you refrain from selling it directly.
If you sign an exclusive mandate with an agency affiliated to a large network, your property will be offered in all the agencies of this network. It can also, if you go through an agency that is a member of Amepi (a file for pooling exclusive mandates), be offered in all the member agencies.
Signing a sales mandate with a professional commits you to
Signing a mandate with a professional commits you. Thus, you do not have the right to get along directly with a buyer identified by the real estate agent, without the latter’s knowledge.
Nor can you arbitrarily ignore potential buyers presented by the real estate agent when they are ready to buy at the price and under the conditions set.