Engaging a purchase broker or buyer agent may seem like a superfluous luxury. After all, you know what kind of luxury property you are looking for and you are smart enough to collect information yourself about the buying process and the pitfalls. You look and compare prices on the Internet and after a few weeks, you have a good idea of what is for sale. And with whom.
When you know what your budget is to spend, the next step comes; requesting information from selling real estate agencies. That is the time to consider whether you want to do all this yourself, or rather seek professional guidance.
Ten good reasons to hire a buyer agent
When buying a house in France, filling out a form on a website is the easiest way to get information. Because if you call, chances are you will get an answering machine. Or you suddenly speak to someone who asks in rapid French why you are calling. During your search, you will see the same houses with several brokers. Who will you request information from?
A buyer agent in France
A buyer broker can advise and assist you with this. And if you play the game according to the French rules, you pay nothing for this work. Of course, you can go to any local real estate agent to visit and buy a house. Buying is not that difficult. But you have to judge for yourself whether it is wise.
The selling agent naturally wants to act quickly and asks you to sign a preliminary sales agreement. Once your signature has been made, you will have to wait for the French notary to invite you for the next documents, the compromise de vente and then the final sales deed.
Your additional questions can still be asked but have no longer have direct priority with the selling broker; after all, the sale has been made and the seller’s notary takes care of it further. An uncertain period then begins: have you understood the purchase process correctly and was the preliminary contract provided with resolutive conditions? All questions that your purchase broker or ‘buyer broker’ could answer.
These are the ten advantages of having a buyer agent
- Speaks your language
- Local expertise of the region, French culture and range of services
- Trusted cooperation with all professional real estate agencies
- Expert assessment of diagnostics and property price level recorded in the land register
- Fast cooperation with our own English speaking notary
- Realistic negotiation about the price and any furniture
- Introduction to a local banking network for financing
- Familiar with international tax advisors for the best purchase construction
- Purchase broker is present at the French notary for signing, often also as a translator
- Delivers access to service network for insurance, renovation, swimming pool and wellness services
Cost of a buyer agent
The costs of a purchase broker differ per country and agreements made. If you are not yet registered with a real estate agency in France, the purchasing agent will do that for you. You can forward houses that you find on the Internet directly to your purchasing broker who requests information and registers your name. The selling broker is now obliged to pay a part of their commission to the buying broker. So you pay nothing for the service of a purchase broker. But if you request information yourself via a form from a real estate agency website or a general portal, you are registered with the selling agent and your rights to free guidance from a buyer broker expire.
If you are already in contact with the selling broker, but you still want to engage a buying broker and your own notary, then you pay a small percentage of the final sale price directly to the buying broker. For more information, please contact us. You can also use our French Riviera Property Buying Guide, or for Paris, the Paris Ile de France Property Buying Guide.