Real estate agencies are steering clear: prices for French property are rising.

Buying a home without the involvement of a real estate agent may seem like a daunting task, but it can be an attractive option when searching for housing in France. According to data from the national statistics agency Insee, the cost of real estate (excluding new builds) in the first quarter of this year was 7.3% higher than in the same period in 2021. Eliminating the middleman can help save money. Leticia Caron, director of a real estate sales company without intermediaries, stated that up to 40% of home sales in France are conducted without agents. The main motivation is usually to avoid the agent's commission, which averages around 5%. This commission is often included in the sale price, so agencies sometimes ask sellers to list their properties at the same price. If a seller has not signed an exclusive agreement with an agent, they can freely advertise their property for sale themselves. "Overall, owners tend to set a lower price than agencies," Ms. Caron said. "It is also helpful to have direct contact with the seller to obtain objective information.

** "The role of a notary"

While buyers may feel better protected from unwanted surprises by turning to an agent, this is not always justified, Ms. Caron stated. "The notary plays a very important role. From the moment the preliminary contract is signed, they gather all the important documents, such as statutory inspections of the building. Buyers know that they do not need an additional intermediary." She added that the seller cannot easily back out of the sale after accepting a written offer. Of course, most buyers do not have the specialized knowledge to assess potential issues with the property, but neither do agents, Ms. Caron said. "If it's an old house that needs repairs, it's helpful to invite an architect or another professional, regardless of whether you are using an agency's services or not. They have knowledge that only a few agents possess."