Sell at a lower cost. This is the challenge for individuals who wish to get rid of a property without suffering a big discount, in a period marked by falling property prices. To limit losses, there is a first item on which you can save money: real estate agency fees. As a general rule, if you buy a property through a real estate professional, an initial commission is paid to them at your expense. The Hoguet law, which regulates the profession of real estate agent, leaves the professional free to set the amount he wishes.
According to a report from the Competition Authority published in June 2023, the average amount of agency fees is 5.2% excluding tax of the sale price of the property. One of the highest rates in Europe. From 2018, many online real estate agencies have developed with the aim of reducing this cost, offering commissions ranging from 4,500 euros per property sold at… 990 euros. A very low cost, for a service that is far from low cost since these new agencies offer the same services as traditional real estate agencies, or even more (HD photo of the property, valuation of the accommodation, dematerialization of the stages of the transaction, etc.). But what about five years later?
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Beware of rising prices
By taking a look at the sites of new agencies, we see that past promises have evolved and that many asterisks have been added to these hyper-competitive offers. At OprixFixe, agency fees have tripled in five years, going from 1,990 euros in 2018 to 6,000 euros today, provided that the value of the property is lower at 120,000 euros. Same trend at Proprioo, now Casavo, which moved from fees whose amount was equivalent to 1.99% of the price of the property at… 6%, but at the same time offers a housing purchase guarantee. As for Liberkeys and his fees capped at 3,990 eurosin five years it has become a network of agents. “We must keep in mind that this model is not yet mature. This is why many companies have increased the fees they charged.warns Vincent Pavanello, founder and president of ReT Conseil and specialist in real estate start-ups.
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Discounted fees… but not for everyone
However, some players are resisting and will allow you to see the amount of your fees halved compared to traditional agencies… but not for all properties. Hosman or even Imop advance a supposedly “fixed” amount of fees, but the latter changes according to the value of the property. The more expensive the property for sale, the lower the commission and the more attractive the transaction for you. Thus, when Imop offers a fixed commission of 6,900 euros for properties with a value between 150,000 and 300,000 euros, it is mainly the sellers whose housing value is around 300,000 euros who will do a deal with a commission that will only represent 2.3% of the price of the good. For others, the operation is less interesting (more than 4% fees on goods whose value is close to 150,000 euros).
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A sector on the move
The main advantage of these new agencies is above all the ergonomics of the platforms offered and the possibility of managing most of the transaction from your smartphone or a website. In terms of agency fees, it is always interesting to put the offers proposed by these platforms in competition with your physical real estate agent in order to see if you really benefit. Finally, let us remember that the sector is still young and that it could evolve in the years to come, given the real estate market which is taking a break. To survive on lower fees, many agencies need to sell a lot. However, the sector remains a niche market.
Real estate: how much agency fees really cost you
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