Real Estate Hunter, at what price?
I am offering you an article to study in detail what are the amounts of fees for real estate hunting agencies and how are they calculated? Will we also see the obligations of apartment hunters in terms of fees? We will also discuss rental fees. Are ancillary services billed and at what price? Real estate hunting agencies have one thing in common, the calculation of their fees, which is based on a percentage of the purchase price of the apartment. This percentage will vary from one agency to another although we can see for this entire profession a fee range of around 2 to 3% including VAT of the sale price. Most agencies offer discounted rates according to the purchase price of the property. Another constant is a minimum fee threshold.
Understanding the real estate hunter and his price
The real estate hunters have the same legal status as real estate agents and therefore the same obligations. Especially when it comes to fees.
Paid only if successful
It is not a commercial choice, but a legal obligation. The real estate hunters can only be paid for success. No administrative fees, no advance can be requested from their customers. If a search were to stop, the Real estate hunter does not have the right to ask for any compensation from its buyer.
To counterbalance this risky financial situation, most apartment hunters work with exclusive research mandates.
This situation is obviously to the advantage of buyers who are assured that the real estate hunter will do everything to find an apartment for its buyer.
Obligation to clearly display fees
The Order of 10 January 2017 Oblige the real estate hunter to present its price list on its website in a visible and easily accessible way. The amounts must be indicated inclusive of all taxes. Whether to buy or rent.
Real estate hunting agencies must have a professional license
This map, formerly called transaction card, is mandatory to have the right to make real estate transactions. Whether buying or selling. The real estate hunter is therefore concerned. If he does not have a professional card, his fees may be questioned by the buyer.
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No sharing of commissions with sales agencies
What does that mean? The cost of the real estate hunt is to be paid in addition to the sales fees. There is never a division between the Apartment hunter and the real estate agency. Why? Because the real estate hunter is self-employed. It has no commercial agreements with the agencies in charge of selling. On the other hand, if he asked for a sharing of remuneration, he would not have access to the most interesting houses and apartments. The real estate agents would prefer to sell them directly so as not to have to share their fees.
More and more real estate agencies offer apartment hunting services. There is obviously a conflict of interest with their main activity of selling apartments. These agencies will tend to promote the sale of their own apartments. Another disadvantage is that real estate agencies that offer a real estate hunter service will not have no access to all the apartments offered for sale on the market. Indeed, competition between real estate agencies is often fierce. Many competitors are likely to refuse to open up their portfolio of properties for sale to them.
Real estate hunters freely decide on their remuneration
The real estate hunters can choose the amount of their fees. They are most of the time between 2 and 3% including VAT of the purchase price.
Some agencies offer decreasing percentages according to the purchase price.
Sometimes, a bonus to the real estate negotiation is offered at real estate hunter which gets a drop in the selling price. This is a point that a buyer can discuss with his real estate hunter in order to set up this bonus. It will guarantee the buyer a great involvement of the hunter at the time of negotiation.
For rentals, the rates are between 1 month and 1 month and a half of rent including VAT. Here too, the fees are paid only in case of success research at the time of signing the lease.
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When and how are the apartment hunter's fees paid?
The fees are paid at the time of the final signature (authentic act) of the property. It's the notary who collects payment from the real estate hunter to the buyer and is responsible for paying it following the signature of the final act.
Are the additional services of real estate hunters billed?
The advisory mission of a house chaser cannot be subject to additional payment. It is an integral part of the commitment of real estate professionals. They have a duty to advise buyers. Their responsibility is committed. Negotiation assistance, condominium analysis, follow-up of deeds of sale are part of the mission. So they are free.
What you need to know : these services are essential, as well as attendance at visits. Otherwise, how could a researcher offer quality advice to his client? However, according to the law, he has a duty to do so. On the other hand, if the apartment search agency offers renovation or decoration work in an apartment, they will be chargeable. They will be the subject of a contract different from research mandate.
Find a real estate hunter by price
Is it the right option? Why not. This is obviously an important aspect, but it does not reflect the quality of the real estate hunter's service. I therefore advise you not to focus only on this criterion. It seems more appropriate to find a balance between experience, quality of service, understanding of research and reasonable fees.
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Competition between real estate hunters
Since its creation in the 2000s, the job of real estate hunter has developed widely. Over the years, competition has become important. She pushed real estate hunting agencies in lower their fees to attract buyers. Fees that were around 3% and sometimes more in the 2000s have tended to stabilize around 2 to 3% in recent years.
In conclusion, remember that a experienced real estate hunter will have the ability to advise you and to conduct negotiations that could be beneficial and even obtain a price reduction greater than the cost of fees themselves.
Good research.
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