Guide to Selling Property in France

Estate Agents in France

1. Choosing an Estate Agent
2. Carte Professionnelle
3. Mandat de Vente
4. Valuation
5. Property Description
6. Fee/Commission
7. Code of Conduct

2. Carte Professionnelle

In order to become an estate agent in France you need to hold a relevant professional qualification or at least several years experience working in a registered estate agency.

You may then have entitlement to a carte professionnelle . These cards are now delivered on a three-year renewal basis, which also requires you undertake regular professional training and that you offer a financial guarantee and professional indemnity insurance.

A carte professionnelle is issued by the Chambre de Commerce et d'industrie (CCI).

However, there are two types of carte professionnelle:

• Only estate agents with a carte professionnelle granting a right to undertake transactions sur immeubles et fonds de commerce are permitted to sell properties.

• Letting agents with a carte professionnelle for lettings activity only (gestion immobilière) are not permitted to engage in the sale of property.

Nevertheless, there are very many agents who hold no carte professionnelle, but who operate through the auspices of one or more registered estate agents.

These self-employed agents are called an agent commercial immobilier, also called mandataire immobilier. In recent years, they have also been required to satisfy the Chambre they have the requisite competence to undertake this role.

This practice is perfectly legal, provided the agent commercial holds an attestation that they are acting on behalf of the registered agent, that the property is actually sold through the registered agent, and that it is the registered agent who processes the sale contract and holds the deposit (in the circumstances where you do not proceed through a notaire for the compromis).

The deposit must be held in a third party account and be guaranteed by a third party financial guarantor such as Société de caution mutuelle des professions immobilières et foncières (SOCAF). This body guarantees reimbursement of any funds deposited with them for purchase.

The name of the financial guarantor must be displayed in the agents office.

Next: Mandat de Vente

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