Monday, January 23, 2012

68% of French property transactions handled by agencies

In a report published this morning in the LeParisien*, research undertaken by* shows that of all property transactions in France, no less than 68% are handled by estate agencies, compared with 19% by networks (introducing individuals to individuals) and 13% by other means, including notaires, family and friends.

The research goes on to report that out of evey 100 clients who visit an agency, 79% ended up buying through the agency - in the case of sellers, the proportion was 70%. Results for those consulting the person-to-person networks were 26% and 28% respectively.

The researchers also found that higher value properties of five rooms or more were most often entrusted to agencies by their owners (in 30% of cases), compared with 24% for studios and two-room apartments.

Signing an exclusive sales mandate with one agency resulted in a sale within three months in 77% of cases, compared with 55% where multiple mandates had been given to two or more agencies.

Sources: AFP/Eric Piermont