Things you should know about estate agents in France - 1

This post could turn into a three volume Victorian novel, there are so many things you should know about French estate-agents. Luckily I do not have the time or skill to write another million words on the subject here, so I will make this into an infrequent series in this blog.

I have had a flurry of emails today about a house we are offering, where the potential buyer approached us with an acceptable offer and where (we did not know this at the time) they had already made lower offers for the same house with another agent.

There are a lot of issues here which many people (including many estate agents) misunderstand and have shrouded them in urban myths.

The law in France is clear an straightforward. A buyer can chose to deal with any agent they wish. There is no “law” or “rule” that says a buyer must always deal with the first agent who introduces them to a property, even if that agent has made them sign a “bon de visite”.

I have seen on walls of some offices and in pieces of paper that agents require visitors to sign that a “bon de visite” is a legal requirement - this is not the case - A buyer has completely free choice in this matter.

However, the seller will have given an agent a mandat to sell. A French agent cannot advertise or offer a property without this mandat. This does not affect the buyer and is a legal agreement between the agent and the seller. Importantly it determines in writing the amount the seller requires for the property and the commission the agent can obtain.

If a buyer is introduced by an agent and then the buyer decided to negotate directly with the owner, the owner will be responsible for paying a commission to the agent if a sale results from this.

If an agent presents a buyer who is prepared to pay the owner the price they require on the mandate, the owner is obliged to sell the property.

The water is muddied by websites, companies and individuals working outside of the laws of France. There are also many people working illegally inside France offering to negotiate property purchases and sales. Buyers and owners can find themselves in time-wasting or even financially embarrassing positions if two or more agents or other negotiators get involved in a sale.

Registered and licensed agents in France usually cooperate and generally will work to help the buyer and seller achive the best result, but commissions are large, usually around 6 percent (including tax), and on an average sale of 250,000 euro, human nature being what it is ….

So, how do you find a good agent who you can trust? Well, apart from saying you have found him, you are reading his blog, you should look out for certain things on their website.

* Are there full contact details in France and a registered office.
* Is there a French landline phone number displayed. If only a mobile (06********) is displayed this is not a good sign.
* Is the number of a correct Carte Professionale displayed?

Have a look at http://coast-country-france.com/ look at the information at the bottom of every page - this is the sort of information which is essential and legally obligatory.

This not only tells you that the agency is genuine, but it also tells you they are insured and must comply with strict regulations.

In the next post about agents I will try to give some clues how to find one who will be able to help you through the maze of the thousands of websites and adverts asking for your time (and money).

bon de visite, buying a house, coast and country, Diary, french property, french estate agents, languedoc roussillon, living in france, mandate, notaire, property

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