Online real estate agents in France: expanding horizons for home seekers.

45 years ago, the DIY real estate market started in France with the magazine 'Particulier à Particulier' (PAP), where sellers paid for their listings and handled everything else themselves. Traditionally, commission agencies are usually paid by buyers, but the terms are negotiated between the agent and the seller. Over the past five years, a dozen online real estate agencies have opened in France, and although they hold a small market share, they are attracting the attention of traditional agents.

Thanks to blockchains, their online service has allowed buyers to "view" properties even while at home. One of the most impressive is Nicebased Les Agences de Papa, whose founders became friends after waiting for their children at the school gates. Last year they sold just 14 homes, posting a loss of €2 million, but when they went on the stock market in May this year the share price rose from €1.50 to €6.70 in three weeks, valuing the company at €318 million. In contrast, one of the best known traditional agencies, Century 21, was recently sold for 84 million euros.

Les Agences de Papa and other online agencies

Les Agences de Papa has a fixed fee of 2,000 euros, but it does not pay employees to show the house, as sellers are expected to conduct most of the viewings themselves. Sellers are also responsible for taking photos and filling in details such as measurements and uploading the necessary inspection certificates.

This DIY real estate market started 45 years ago with the magazine Particulier à Particulier (PAP). Sellers paid for their ads, with or without photos, but with a phone number, and handled everything else themselves, arranging documents with notaries and getting all legal paperwork in order. The ads were categorized by departments, and buyers were not screened, but the magazine thrived, and tens of thousands of properties were sold without agents seeing a cent.

Online real estate agencies in France

Other online agencies such as Welmo, Liberkeys, Hosman and Proprioo also offer real estate sales services without the help of traditional agents. Welmo, founded five years ago, offers the service of a professional photographer as one of its main services. Liberkeys has a fixed fee of €4,990 and focuses on using digital tools to speed up the real estate sales process.

Many of these new digital agencies are looking to change the traditional commission-based model and are offering fixed rates or on-demand services to make real estate sales more accessible and efficient.

Technology is playing an increasingly important role in the real estate market, allowing sellers and buyers to interact online, view homes virtually, and streamline the transaction process. Despite this, the appeal of Paris as one of the most expensive real estate markets in France remains unchanged, and most new digital agencies are concentrated in the capital.

New models of online agencies and hybrid real estate agencies in France continue to evolve, offering new opportunities for sellers and buyers to change the way they buy and sell property.