The possiblity to sell your property in France (Helpful Tips & Advice)

Selling a home or property in France is a major undertaking. However, you can take a few easy steps to increase the sale price, speed up the process, and reduce your expenditures. To follow my recommendations, you don’t need to be a real estate expert, handyman, or tax whiz. Common sense and an appreciation for making the most of the sales process are all it takes.

 

Have you ever heard of the ‘8-second rule?’ If not, let me introduce you.

Most home purchasers lack creativity. People tend to notice only what’s right in front of them and make decisions quickly.

The “8-second rule,” as real estate brokers like to call it, maybe familiar to you.

The guideline essentially indicates that a buyer’s decision to purchase a home is made 8 seconds or less. Regardless of whether or not it’s accurate, I know I’m guilty of making hasty judgments.

One moment you think, “wow, this is great,” and the next, get me out of here,” you have a strong gut reaction.

Feelings of love and longing typically drive real estate purchases in France. Most of the time, customers depend on their ‘gut’ feeling rather than rationality when making a purchase. As a result, making a terrific first impression on potential purchasers of your French home is crucial.

 

Here are three strategies to make your property seem better:

 

Enhance your curb appeal.

People who work in real estate often refer to a property’s “kerb appeal,” and that’s because prospective buyers often pick up on little features before they ever enter the premises.

 

Kerb’s attractiveness may be enhanced with a few inexpensive and simple measures:

  • Your property should have a well-designed sign or number.
  • Plant some new bushes or flowers to brighten your yard.
  • Rebuild any stairways or walkways that have been damaged.
  • The yard needs to be mowed.
  • Shutters and windows should be cleaned.
  • Remove debris and dust using a brush.
  • Put a little two-person bench in a great location.

 

If you have a few hundred Euros to spare, you can accomplish all of the above, and it will leave a great impression on potential buyers.

It is your property, not your possessions, that you are trying to sell. Getting rid of the clutter helps purchasers see the house in a new light. Buyers attempt to picture themselves as part of the French aristocracy rather than envision themselves as someone else. From purchasers’ perspective, everything from a messy kitchen to a stack of bills on the table is an eyesore. A key issue is that shoppers don’t want to see your products up close.

 

An easy approach to add thousands of new users quickly and cheaply. Many individuals will avoid a room with an orange “feature wall” or peeling wallpaper. Neutral-coloured walls, on the other hand, appeal to nearly everyone. Every time you look around, you’ll find that a fresh coat of paint can completely change a space. Using it, you may transform a foreboding cave into a cheery bungalow. Painting is a cost-effective approach to raise the value of your home by thousands of dollars.

 

Why a few little fixes may have a major impact on the selling price. Because many British expats living in France, it’s likely that the buyer of your French house will be a British expat, too.

 

Most British citizens living abroad are either retired or seeking a second home. They’re on the lookout for a taste of luxury. The need for repairs will turn off many prospective purchasers.

 

Seeing that you haven’t bothered to solve the obvious faults will make a potential buyer assume there are considerably more serious problems hiding in the background. Many purchasers will walk away and hunt for another product.

 

Those still interested will demand a significant price reduction to make up for the expense of repairs, known and unknown.

 

The term ‘development opportunity should not be used to describe your property by your agent. If you keep your French home in good shape, you will not provide buyers with an easy reason to alter their minds or lower the price significantly.

 

Determining the value of your French real estate investment

Getting an estimate of the value of your French house before contacting estate agents is a smart idea, in my opinion.

Use one of the major French real estate websites, such as French Property, Green Acres, and Rightmove or Cle France. to see what else is available in your region.

It’s best to narrow your search because the location significantly impacts the sale price.

Check out a new website created by the French government’s Ministry of Economy and Finance in May 2019 to get a sense of how prices are trending in your region.

The goal is to make the French property market more transparent by making information available to everyone.

With this tool, you may download data into an Excel spreadsheet by selecting your area and city from drop-down options.

It illustrates how your location has done compared to national and regional patterns going back to 1971 and gives a comprehensive quantity of price data.

When agents have access to more precise data, they may deliver more accurate appraisals for sellers.

 

What to look for in an excellent real estate agent?

Let’s face it, real estate brokers aren’t exactly household names. However, in my opinion, they have a significant impact on the sales process. As in every field, there are those agents who perform an excellent job, while others fall far short.

First and foremost, I’ll ask around for recommendations. Nothing beats a little ‘word of mouth,’ after all. You’re looking for agents who sell homes, not those with the most properties posted on their profiles.

Once you’ve narrowed the field to a few candidates, meet them in person. If you’re impressed, they’re likely to be impressed by potential purchasers as well. I’ve chosen an agent based on their appearance, sincerity, and self-assurance in the past.

When guests come to inspect your place, I want to observe how attentive they are to the smallest of particulars. That’s because I’m looking for someone who has a genuine interest in real estate and is not just a salesman.

 

What is the going rate for French real estate agents?

Selling a home in France can cost anything from 4% to 10% in commissions. It’s common for agents to charge the highest commission rates on lower-priced houses since they do as much effort; thus, they need to make money. Expect a fee of between 4% and 5% on the most expensive French properties.

Keep in mind that the percentage of the sale that goes to the agent is a negotiating point. In other words, it’s not a government-mandated figure.

Smaller independent agents are more likely than massive national networks to be amenable to compromise, so keep that in mind while negotiating with them.

As long as your property is well-maintained and located in a good area, you may save money on the agent’s commission.

The realtor will be more prepared to accept a reduced commission if they can sell the property quickly and easily.

You should sign a contract with just one agent to achieve a cheaper commission rate.

In France, multi-agent fees are typically more expensive since the agents typically agree to divide the money.

In other cases, agents say that the buyer will pay their commission, so you don’t have to pay a cent. It’s one of those bogus sales pitches.

The buyer has already paid for the property, the notary, and a slew of taxes, so they don’t have to worry about anything else. The agent’s fee is being tacked onto the bill to add insult to injury. Buyers won’t be tempted to shop elsewhere as a result of it.

 

When it comes to negotiations, I’d like to give you some advice:

  • The offer phase can be the most stressful for both the buyer and the seller.
  • Getting an offer might feel like a high stakes poker game.
  • Hard-ball negotiations are not my cup of tea. The goal isn’t to sever ties with the opposition.
  • It’s common for stubborn negotiators to win the battle but lose the war, which means they don’t back down from a little demand, but then miss out on the deal. That’s a defeat, not a victory. You’re on the lookout for a happy medium.
  • It’s common for the agent to function as a counsellor or confidant when you receive an offer. Asking “what should I do?” is a natural reaction. However, this is something I strive to avoid doing.
  • Even if you’re paying the agent’s fee, you shouldn’t assume that they’re on your side.
  • An agent’s primary goal is to close a contract. That’s what they do. That doesn’t bother me in the least.
  • Your agent probably asked you why you’re selling, when you need to sell, and what price you’re willing to take at an early stage? This isn’t just a bunch of small talk.
  • Taking advantage of the exchange rate…

 

Save a lot of money this way.

Most British sellers of French real estate overlook the effect of the current currency rate.

Surely it’s not a surprise. The final step is frequently to transfer your funds from France to the United Kingdom. As a result of the Euro to Pound exchange rate, the amount of money you will receive in your UK bank account might be significantly affected.

When it comes to buying or selling a home, even tiny changes in the interest rate can significantly impact it.

 

The following is a quick review.

Tips and suggestions for selling a home in France are summarised below:

  • Make the outside of your house seem nicer (remember the 8-second rule)
  • No offence meant, but get rid of your junk.
  • Consider a paint job, which is inexpensive yet effective.
  • It’s worth the effort to fix any evident problems.
  • Negotiate the commission with your agent (down)
  • Negotiate the pricing of the goods (up)
  • You’ll save time if you have all the papers in order.
  • Take advantage of every tax deduction you can.
  • You might save thousands by contacting a currency broker.

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