Profession- Buying Agents
These newcomers to the market try and establish rules on how they work.
Real Estate agencies are found on the corner of every street, and increase in 50% since 2000.There is a newcomer to this crowded marketplace, the buying agent. The TV channel M6 has aired the show “Looking for an apartment or house” since 2006.This show has given life to the buying agent, a kind patient, good listener who helps find the dream apartment.
This profession comes from the United States, in France it appeared in early 2000, today there are 147 buying agents.
The requirements; No inscription fees, The agents need to provide a professional card number, their geographic location, and their annual commissions. Most of them are not members of a professional association
- FNCI Federation National des Chasseurs immoblieres
- FFCI Federation Francaise des chasseurs immoblieres
These two organizations try to define this activity, the real estate agents work in the sellers best interest, and the buying agents work for the buyer.
Their commissions vary between 2 and 10%, and are paid after the transaction is final.
FNCI created in 2007 states that the buying agent should not take upfront fees, yet some members of the FNCI do.
Christine Pelosse says that some members of the FFCI sell property as well, for her this is a conflict of interest, the buying agent should not tread on the real estate agents territory.
It’s a difficult job, a lot of buying agents appear and then disappear very quickly.