Real estate agents: stop preconceived ideas!

“Real estate agencies are too expensive”, “my property is going to be sold off”, “their only interest is their fees”, “I would do better by myself”, “real estate agents put three photos and just wait for the client ”... The clichés sometimes have the hard life, we offer you a brief overview of the main received ideas around the profession of real estate agent.

"Anyone can become a real estate agent overnight."

A few figures to start with: 65% of owners and buyers go through an agency to complete their real estate project and 80% are satisfied with the expertise of professionals in the sector.

What twists the blow to the first received idea, which wants that the trade does not require particular competence or certification. The Hoguet law stipulates that real estate agents must have a professional card. To obtain it, you must have a bac + 3 level diploma in the legal, commercial or economic field. If this is not the case, it is essential to justify at least 10 years of experience with employee status. As for the Alur law, it imposes compulsory continuous training of 14 hours per year, a sine qua non for renewing the professional card.

The profession of real estate agent is therefore well supervised and requires real know-how, targeted and regular training is therefore essential with regard to the many areas of skills expected of a real estate agent (law, town planning, building techniques, marketing, commercial action, etc.).

“In an agency, my property will be estimated at a low price to have a quick sale”.

A good real estate professional has no interest in "sacrificing" a price in the hope of selling more quickly. He must on the contrary privilege the "right" price in order to establish a relationship of trust with the seller who generally knows the state of the market well. It is also for him the occasion to maintain his earnings which are in direct proportion to the selling price. A successful sale is one that is long-lasting and that will encourage the parties involved to repeat a similar process.
Before giving an opinion of value, the real estate agent must examine the main characteristics of the property and its immediate environment; a visit of the premises is necessary and an exchange with the owner is also recommended; at SANHEN we emphasize this moment of sharing with the owner, thus opening the way to a future collaboration.

Then comes the time of the value opinion, often requested by sellers, or even by a bank or a notary in the event of an inheritance. We are happy to provide this service.

To prepare this document, we have developed a method that is specific to us and which is specifically adapted to high-end properties, as standard commercial methods are inefficient and often approximate : we analyze sales listed on official websites to extract locally relevant data on similar properties, we then adjust a "scoring" function specific to the intrinsic characteristics of the property, which leads us to determine, via objective criteria and after the comparison of 6 valuation methods, the value of the property in relation to the state of the market and its recent evolution.

In conclusion, we attach particular value to the presentation of the value opinion to the owner, we also discuss the marketing value in relation to the market opportunities along with the associated marketing strategy. This objective and transparent approach is widely appreciated by the recipients of the study.

“Real estate agents just post a few photos and make a few visits”

It is time to move on to showcasing properties, putting together advertisements, then offering them optimal visibility to reach buyers. We're moving into marketing, one more string to our agent's bow. In addition to writing texts, making professional photos and videos, it is sometimes necessary to go through physical or virtual "home staging", that is to say, a rearrangement of your interior. 

Sometimes it may even be necessary to estimate development or expansion work. The agent can then put you in touch with his network of architects and other dedicated professionals, so that the future buyer is informed of the potential for improving the house or meeting his needs and can make an informed decision. Helping acquiring clients to plan for their future habitat is an essential step that should not be overlooked.

Then come the tours, which can be in French or English, traditional or virtual. The latter have multiplied in recent months following the Covid crisis and the health measures that have complicated movement and physical interactions (read the article With social distancing, long live the virtual tour!). Your agent will then be able to demonstrate objectivity and neutrality, sometimes even diplomacy when it comes to managing affects. Which, once again, cannot be improvised! We also check the quality of our acquiring contacts in terms of reliability and solvency. This is to avoid disappointments for sellers. It is important to select prospective buyers before scheduling visits.

Responsive in the event of an offer, our agent must quickly put on his salesman's costume to enter into the delicate part of the negotiation (s). Its role as an enlightened intermediary consists in finding a consensus which will make it possible to "match" the projects, after objective discussions and arguments. Is the agreement signed? It's not over yet. It remains to help the parties to put together the files, to ensure the smooth running of the transaction and the various stages before the “final” sale and the signature at the notary. Phew! It even happens that our agent has to intervene with the town halls to unblock certain situations so that the deadlines desired by his customers are respected!

“Real estate agents are (too) expensive”

You will understand that a real estate agent is a real job requiring special expertise and skills that only a professional with integrity and experienced in the practice can provide you. And like all work deserves a salary… Its services come at a cost. The regulations on commissions are strict and transparency is total: agency fees are clearly displayed (website and in the agency) and must be respected, the Competition Authority is watching ...

You should know that these costs are not fixed since they correspond to a percentage of the sale supposed to compensate all the services rendered and described above: visits, constitution of files, writing and sharing of announcements, advertising and marketing, management of calls and appointments, negotiation ... In the end, and whatever the reason, if the transaction does not succeed, the agent will simply not be paid and his work is lost. It is one of the few jobs that has an obligation of result otherwise it is not paid! In fact, real estate intermediaries have to constantly advance costs which requires a balance of cash.

“The real estate agent is more interested in the transaction than in my project!

A good real estate agent focuses on his client's project and works with him over time until it is completed. The transaction is only the conclusion of the project and will only be successful if it has been well worked out and understood upstream. To end on a good note, know that at Sanhen Properties, we are "project people" passionate about our profession. Nothing is more rewarding for us than a successful life project, and the smile on the lips of our satisfied customers is a real reward. From the start, taking your needs and expectations into account will trace the common thread of our relationship and the tailor-made support that we will offer you, until the completion of your project.

As proof, some of our customers have now become our friends.