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The real estate agent is a professional intermediary between buyers and sellers, owners and tenants of buildings or businesses.
REAL ESTATE AGENT IS NOT A PROFESSION FOR AMATEURS!

Status

In France, the profession is strictly regulated, and, pursuant to the Hoguet law of 2 January 1970, real estate agents must obtain a business card entitling them to conduct "Housing and business premises transactions" (known as the T Card).

They are then required to provide proof of the following:

• vocational aptitude (either qualifications and/or work experience);
• financial cover intended to guarantee the funds deposited by customers. Financial cover is fixed according to the previous calendar year, with a minimum of €110,000, and a minimum of €120,000 for members of FNAIM, representing additional security for the customer. The sum then increases in increments of €20,000, depending on turnover.
• insurance against the pecuniary consequences of civil liability.
• that the agent is not incapable of or prohibited from carrying on an activity in any way.

 

The main obligations befalling the real estate agent are:

An obligation to display certain documents, in particular the following:

• business card number
• amount of financial guarantee provided
• name and address of the underwriting organisation
• rates and terms governing the calculation of fees.

Real estate professionals are under obligation to hold a written mandate, simple or exclusive, authorising them to negotiate or engage in transactions.

Remuneration

• The real estate agent's fees are set freely.
• The simple or exclusive mandate can be established with the seller or the buyer and is valid for a maximum period of 3 months.
• The real estate agent's fees are obligatorily displayed in the agent's window and indicated in the mandate.
• Said fees are only due on concluding the transaction, never before!