- The real estate agent
- The real estate agent
- The different types of mandates
- Which professional to choose ?
When you want to sell or buy real estate, you can call on a real estate agent or a real estate agent. Although both professions have the mission of connecting a buyer and a seller, there are significant differences between the two statuses.
The regulated profession of real estate agent
The real estate agent is a professional whose activity is strictly regulated by the Hoguet law of 1970. To obtain the professional card (T card), he must have a Baccalaureate level diploma +3 in commerce, economics or law or a BTS in real estate profession. In the absence of these diplomas, he must have professional experience of 10 years with a real estate agent to be able to practice. The real estate agent must also have a financial guarantee from a banking organization or a professional organization., and have taken out professional liability insurance. He can work alone or with negotiators, employees or commercial agents, and is authorized to receive client funds for real estate transactions.
The profession of real estate agent
As for the real estate agent, this is a commercial agent who does not need a professional card, but who must be linked by a mandate contract to a real estate agent holding the T Card or to a network of real estate agencies. The agent must register with the RSAC (special register of commercial agents) and has neither a window nor a commercial area. He can work in a personal office, at a real estate agent or at home. He also plays an intermediary role between the seller and the buyer by organizing visits, signing mandates, negotiating and selling accommodation, but always in the name of the real estate agent on whom it depends. The real estate agent is often remunerated through a system of commissions, defined by the contract which binds it to the agency or the real estate network, but he does not have the legal capacity to sign the sales agreement or to receive funds.
Sales mandates
Concerning the sales mandates, there are three types : the simple mandate, the semi-exclusive mandate and the exclusive mandate. The simple mandate allows you to entrust your property to several real estate agents or representatives and also allows the seller to search for a buyer in parallel, for a sale between individuals. The semi-exclusive mandate, on the other hand, only allows the mandated real estate agent and the seller to search for a buyer, and no other professional can intervene. Finally, the exclusive mandate gives the mandated professional a monopoly on sales for the duration provided for in the contract, and the seller can neither sell his property by his own means nor entrust the sale to other professionals. The duration of the mandate is often three months and can be tacitly renewed in increments of one month., with a maximum duration generally set at one year and mentioned in the contract.
Which of these two professionals should you choose for your sale? ?
For clients who wish to buy or sell real estate, there is no significant difference between calling on a traditional real estate agency or to an independent real estate agent. The choice will be made mainly based on the fees, the experience of the professional and the personal feelings of the client. Here are also some tips for find the best real estate agent in your sector.
On the other hand, for owners wishing to rent their property, it is best to use a real estate agency. Real estate agents are able to sign a rental lease, to carry out an inventory of entry and exit premises and have a network of companies for rental maintenance.
Although real estate agents are generally better qualified than attorneys, their added value for the customer may vary. Indeed, they can give legal advice, raise funds or sign sales agreements, but they often delegate these tasks to a notary to avoid legal risks.