Saturday, 25 April 2015

Saturday, 25 April 2015

Selling your French property: Sole or multiple agency?

As you go on the market, there is a simple but important decision for you to make, about how many agents you instruct. The temptation of many sellers, is to go with several, rather than sole agency, which is of course, the “norm” in the UK. There are advantages and disadvantages to both routes, depending upon your choice and reasons for making that choice.

We firmly believe that a sole agency, or exclusive mandat is the preferred route in the vast majority of cases. This option gives one agency of your choice, the task of selling your property without outside interference and allowing them to control all of the channels of marketing. It also gives the agency the incentive to invest in the sale in the form of extra marketing, as they are secure in the knowledge that they are not wasting their efforts to sell your house.

We strongly believe also, that having a single agent is the most effective way of defending the price of your property. Having a number of agents involved will inevitably mean that your property appears at different prices, since agents tend to work to different fee scales. This sends out mixed messages to your target audience – the buyers, who then suspect your price is negotiable. If you are with one sole agent, you will only appear at one price, wherever your property is advertised. This enables us to advise clients that they cannot make silly offers trying to “chip away” at your price. That way, we are confident that we will achieve a higher price than if you go down the multiple agency route. (We know some agents have a practice of encouraging offers at 10 – 20% below the marketing price in some circumstances).

Going down the multiple agency route not only risks price confusion, but also can give the impression of desperation. Depending upon which agents are selected, your property could end up on the same property portals (such as Right Move) several times. What does that say to you?

Our strategy is to give our “exclusive mandats” maximum exposure via all major International property websites. We back that up with 1st class photographs, accurate descriptions, and rapid responses to all of our enquiries. We may also advertise your property in one of the leading French magazines, or other quality magazines, such as “A Place in the Sun”. We are regularly selected by editorial managers for contributions to magazines and newspapers to feature special properties, and have an impressive catalogue of such features.

Local agents do have a certain advantage of a shop window, that is something we cannot deny. BUT, over 95% of research for a property purchase is done via the internet, not via the shop window. Agents operating in the traditional way, (I resisted calling it old-fashioned), also have less time to qualify their clients ahead of a visit. If someone walks through their door and wants to view your house that morning what will their response be? Do you want unqualified, short-notice visits?

Some clients choose a bigger “name” agency in France, or even the well known brands in the UK, but for a commited approach and a business with exceptional online and media coverage - contact to find out how our dedicated small team can help with your French property sale.

Filed Under: , ,


Post a comment