Buying Guides - French Property Search Agents
You need to be cautious when employing a search agent but, says Graham Downie, they could have a lot to offer
The charismatic TV couple Kirstie Allsopp and Phil Spencer of popular show ‘Location, Location, Location’ have done wonders to raise the understanding of how a property search agent can help you find your ideal house.
The use of this kind of property expert is an established and fast-growing phenomenon in the UK, although it’s nowhere near as prevalent as in the USA where around 63% of homes were bought through a buying agent last year.
Property search agents are now springing up in France and, if you are considering buying a property there, it may be worthwhile considering the use of a professional to help you find and buy your dream home.
What they can do
Since setting up my business in 2003 (covering the Charente and parts of the Charente-Maritime) I have found there are five reasons why you might employ a search agent:
1) You don’t have the time to search thoroughly yourself. Property hunting trips are costly and time hungry – particularly if you have a family and need to juggle your property search with holiday and leisure time.
2) You want to get the best price. Having an expert visit houses, compile a list of what chartered surveyors call comparable evidence and then negotiate on your behalf can lead to reductions in the asking price of property.
3) You don’t know the area. Using somebody who lives and works in your preferred area will help you dig out the real gems and perhaps avoid some of the secondary locations that could be blighted in some way.
4) You’ve never bought in France before. The buying process is different to the UK and having someone with experience of the process on your side can give peace of mind and prove helpful.
5) You simply want independent advice and someone in your corner.
Are they legitimate?
Having established that you would indeed like to retain a search agent, you should be aware of the strict laws governing this practice in France. There are more cowboys than legitimate firms offering a service but don’t worry as they are easy to spot.
Your first port of call should be to visit their national federation. In France this has the title of Fédération Nationale des Chasseurs Immobiliers and you can find a list of members on their website at www.fnci.fr
This national body was set up to lobby government and to ensure that members are legitimate businesses who act solely for their clients in the most ethical manner. Members come from different areas of France including Paris, Toulouse, Boulogne and, of course, my area, Cognac.
It is not obligatory for a search agent in France to be a member of the FNCI. However, it is compulsory for them to be able to show on request the following documentation:
A carte professionnelle. This is issued by the préfecture and attests to the experience and competence of the holder.
- Professional indemnity insurance or assurance responsabilité civile.
- A financial guarantee or transaction sur immeuble et fonds de commerce.
The golden rule should always be that if they do not hold all of the above then don’t use them to search for you.
Our new President, Nicolas Sarkozy, has promised to crack down on the huge array of illegitimate businesses. The DILTI (délégation interministérielle à la lutte contre le travail illégal) has also promised tougher enforcement of the rules. Up to three years in prison, a €45,000 fine and payment of all back taxes and cotisations await the rogue traders, but it won’t happen overnight so a little research can prove invaluable.
Professional help
Buying a house abroad is a big investment that takes us outside our usual comfort zone. Why risk everything by employing someone unsuitable? A respectable search agent will give you peace of mind, knowing that he/she will receive no commission from the vendor or immobilier and is acting purely in your best interests.
In the 1980s, search agents were the preserve of celebrities and the seriously wealthy with million pound-plus houses, but entry levels have fallen. Since starting my business I have searched for plots of land, tiny boltholes for €100,000, family homes with views and a pool for €350,000 and the odd château for above €1,000,000.
One of my most recent clients had been looking for their dream home for some time. I have fond recollections of taking them to see the house in Touzac that they eventually bought. The look of delight on their faces is etched into my memory in high definition.
Graham Downie runs a property search agency covering the Charente and Charente Maritime Tel: 0033 (0)5 45 32 46 41 www.cognacproperty.com