Sale of real estate, purchase of real estate or rental…. The real estate agency is a key intermediary in the real estate market. Here is its scope of action.
Real estate agencies aim to connect people who are looking for a home to buy or rent with those who have one available either for sale or for rent. They therefore act as intermediaries. They may have to take care of a transaction, look for accommodation for someone, recruit a tenant for a landlord, and organize visits… She can also manage the day-to-day problems of landlords and tenants by acting as an intermediary, and more generally to represent and assist both parties.
Who can be a real estate agent?
The profession of real estate agent is highly regulated. It is only accessible to persons holding a professional card allowing them to carry out real estate transactions and/or real estate management. Its delivery is based on the validation of professional skills (accounting, management, etc.), the existence of financial guarantees and the subscription to civil liability insurance.
How much does it cost to use a real estate agency?
In return for the time saved in finding accommodation, managing the transaction or selecting the tenant, you must pay an agency fee. For a sale or rental of a property, the real estate agent receives a percentage of the value of the property or rent at the time of signing the notarial deed or rental lease. In other words, it is remunerated on a profit and loss basis. Unlike notary fees, which are strictly regulated, agency fees are freely set. They can therefore be negotiated between the owner of a dwelling and the agency. These costs are generally located at a rate between 5 and 10% of the price of the property, when it is a sale. This percentage is always announced by the agency before the start of the service. For rental management, the invoicing of services can be fixed price.
What documents or information can a real estate agency request?
With the shortage of housing and the economic crisis that can lead to an increase in unpaid rents, agencies sometimes take the opportunity to ask the future tenant for supporting documents that are not mandatory or that do not need to be provided. For example, they may not require a photo, account statements or proof of good account management, a copy of the social security card.
Can a real estate agency ask to sign a reservation contract?
You do not need to sign a reservation contract. This is a procedure that agencies sometimes ask prospective tenants to follow and requires the payment of a sum of money, an amount that will often not be returned if the deal does not ultimately close.
Is a list seller a real estate agent?
No. They’re two different professions. A list seller is not obliged to find accommodation for their customers but simply to help them. There are few guarantees that you will actually find accommodation. Sometimes, the lists sold only give the address of already rented apartments. Indeed, access to the list of goods is subject to a charge. In short, you pay before you consume. With a real estate agent, it’s the other way around. Until you find out, you don’t pay. This explains the price difference between a list seller and a real estate agent.