A question that comes up often, accompanied by the ever-present question “What’s in it for me? » Well, I’ll try to be thorough on the usefulness of real estate agencies: Let’s take the most common case of an agency working with a simple mandate without exclusivity.
From the seller’s point of view
First of all, and this is essential, it’s not the agencies that make the prices, but the private individuals who are often excessively greedy. Agencies provide advice and a global vision of the market in terms of selling price, and when we say selling price, it is the price at which the properties are sold and not the price at which they are displayed!
Individuals have little visibility on real market trends, they generally set their selling price (net seller) based on prices seen on SeLoger (ads posted by agencies). For buyers dealing with them, this means paying the same price for the property as if they had gone through an agency, but with less service.
Then, going through an agency brings a certain serenity to the sellers who, if the agency does its job properly, don’t have to worry about anything.
A service: It is important to remember that an agency offers free display of the ad in its window, advertising on various media, taking care of visits, and often many other services such as putting you in touch with consulting firms.
Qualified visits, a real estate agency has every interest not to travel for nothing, which is why it makes sure, prior to any visit, that the property meets the criteria of the potential client, which avoids the visits of the “curious”.
A regular follow-up allows to know the strong and weak points noted during the visits.
Finally, it is only if she sells the property that she is remunerated. And if she sells the property, everyone wins!
From the buyers’ point of view
Choice: the agencies offer a wider choice than private individuals who rarely make the financial effort to advertise on numerous media and to update them regularly.
Advice: Agencies provide free advice to buyers on real estate market trends, but also on the evolution of loan rates for example or on current real estate standards, in order to inform and provide objective information to people who are not real estate professionals and who are about to make one of the most important investments of their lives.
Availability: private individuals selling a property generally have a professional activity that forces them to visit their property between noon and 2 or in the evening, and in conditions that are not optimal, particularly at the moment, the visit of an apartment at 6 p.m. = night visit .
Weight in the negotiation with the seller: a real estate professional will be better able to argue for the property to sell at the right price.
From the point of view of sellers AND buyers
Objectivity on properties: Agencies are often criticised for not being objective and for wanting to sell at any price, but do you sincerely believe that sellers, who are convinced that their apartment is the most beautiful in the world, are very objective?
Credibility: Buyers don’t believe sellers any more than agencies do, quite the contrary! Agencies generally have an alternative to offer, which is not the case for sellers.
A legal framework around the transaction: A real estate transaction is subject to many rules and legal support is appreciated if by chance, a conflict or a dispute opposes the 2 parties.
Finally, the agency plays the role of mediator between a seller who does not want to lower his price and a buyer who wants to pay as little as possible for his property.
By making both parties understand each other’s motivations, the agency encourages negotiation and dialogue, and thus the sale at the market price, with the aim of satisfying all parties involved.