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Newest Parler Paris Apartment coming soon
Don't miss a single issue of French Property Insider! "Whitelist" French Property Insider by adding "fpi@adrianleeds.com" to your address book.  PARLER PARIS APARTMENTS
Welcome to your home in Paris. Home is how you will feel in a private apartment in Paris that has the "seal of approval" from Parler Paris Apartments and me, Adrian Leeds. Enjoy the crisp and comfortable fall season, a glorious time to enjoy Paris, when there is so much to see and do!
One of our most amazing apartments -- only 25 square meters, but with lots of light and great views from three large windows, a sweet separate eat-in kitchen, surrounded by great transportation and has what one recent guest says is the most comfortable bed she has ever slept in! Book your Parler Paris Apartment and stay between now and December 20th to take advantage of the lowest prices of the year! Visit Parler Paris Apartments: Parler Paris Apartments to view our full selection or email: apartments@adrianleeds.com Bonjour French Property Insider Subscriber,
"I recently toyed with the idea of putting my house on the market and moving to something a bit smaller with a bit more land...quelle horreur!!!...when I discovered that the French estate agent takes 6% of the sales price. Compared to our trusty, much maligned British breed at 1.5% this seems somewhat over the top, n'est-ce pas?! Forgive me for asking and I would generally like to know how come they think they deserve this fee?" From what I see on advertising boards, there has been little effort to make a room photogenic or even remove the kids' toys or rubbish bags prior to photo, and if I see another plastic, vacuum-formed chair in a shot, I think I will have to start a revolt." As an interior stylist I have long been under the impression that all things French were held in some lofty regard and I have a library full of reference books with titles such as French Style...French Country..., etc. But it would seem that the French don't give them a first glance." "When I enquired from my local 'immobilier' [estate agent] as to why the house that interested me wasn't presented better in their window, I was quickly met with a great deal of shrugging and general disinterest...what do they do for that meaty 6%?" "In the old days when we found French ruins with dead peoples' clothes in a corner and remains of the dogs last meal, we didn't complain, but hey! Those houses were 12,000...now they want a prince's ransom for a hovel with potential. Do they think we are mad? We are raving mad because we happily pay it. Not me. Oh No. So, if anyone wants a 14th- century beautiful, huge old townhouse, come direct, and I won't offer you a seat on a plastic chair to write the check!" Let's now look at this without emotion!: Real estate agents in France add a commission to the sales price of a property, but it's not added to the advertised price -- it's within the price and included in what is perceived as the market value. This commission is traditionally 5%, but commissions are always negotiable between the seller and the agency. In the UK, agents take quite a bit less: between 1% and 3%. And in the US, the average is between 5% and 6%. There are no valid reasons why the agents should work at different rates, but we can make some intelligent guesses. Agents in the US fully expect to share their commissions with other agents as part of the Multiple Listing Service (MLS) network, therefore only realizing 2.5% to 3%. Agents in France will do the same with buyers' agents and "chasseurs" or property-finders, although not as readily. The French agencies, however, are subject to high taxation -- 19.6% TVA plus corporate taxes. Why UK agents are working for so little is a mystery to me, except perhaps to compete with sellers who take on the sale for themselves, thereby saving the fee altogether. Sellers who choose to act as their own agents here in France have the possibility of earning the fees themselves, but risk not selling their property as quickly or at true market value without the representation of an agency. As a consultant, we shy away from properties "for sale by owner" because owners rarely behave professionally and make for difficult partners in the transaction. We also do not believe that there is any real savings in working directly with the owner. Any owners who have attempted to prepare a property for sale, advertise it and manage the visits themselves know that this does not come with no effort or expertise. And any buyer who has employed one or more agencies (or property finders) to search out a property to purchase knows this does not come with no effort or expertise (except perhaps this person who ranted and raved about getting nothing for his/her money!). And the knowledge that one must gain to advise on real estate is something that takes years of experience and study to acquire. We have worked with dozens of agents in Paris and other parts of France. Like any industry, some do a better job than others in marketing the properties they list, managing their clients and advising properly. One thing is for certain, however -- which is a huge difference between French and US agents -- is the perception for whom they are working. Because of the MLS, one agent has access to all properties and therefore treats their clients as "client" rather than "sale" -- meaning that they are more interested in satisfying the client than simply making the sale. In France, the agent works for the seller, not the buyer, and therefore is only interested in making the sale, if possible without sharing commissions, and therefore the buyer has little clout. A buyer cannot go to one agent and have access to all properties on the market, so the task of finding a property is arduous.
So, what do real estate agents and consultants do for their "meaty 6% (or whatever)?" The Web site careerplanner.com says: * Present purchase offers to sellers for consideration. * Confer with escrow companies, lenders, home inspectors, and pest control operators to ensure that terms and conditions of purchase agreements are met before closing dates. * Interview clients to determine what kinds of properties they are seeking. * Prepare documents such as representation contracts, purchase agreements, closing statements, deeds and leases. * Coordinate property closings, overseeing signing of documents and disbursement of funds. * Act as an intermediary in negotiations between buyers and sellers, generally representing one or the other. * Promote sales of properties through advertisements, open houses, and participation in multiple listing services. * Compare a property with similar properties that have recently sold in order to determine its competitive market price. * Coordinate appointments to show homes to prospective buyers. * Generate lists of properties that are compatible with buyers' needs and financial resources. * Display commercial, industrial, agricultural, and residential properties to clients and explain their features. * Arrange for title searches to determine whether clients have clear property titles. * Review plans for new construction with clients, enumerating and recommending available options and features. * Answer clients' questions regarding construction work, financing, maintenance, repairs, and appraisals. * Inspect condition of premises, and arrange for necessary maintenance or notify owners of maintenance needs. * Accompany buyers during visits to and inspections of property, advising them on the suitability and value of the homes they are visiting. * Advise sellers on how to make homes more appealing to potential buyers. * Arrange meetings between buyers and sellers when details of transactions need to be negotiated. * Advise clients on market conditions, prices, mortgages, legal requirements and related matters. * Evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms. * Review property listings, trade journals, and relevant literature, and attend conventions, seminars, and staff and association meetings in order to remain knowledgeable about real estate markets. * Investigate clients' financial and credit status in order to determine eligibility for financing. * Contact property owners and advertise services in order to solicit property sales listings. * Develop networks of attorneys, mortgage lenders, and contractors to whom clients may be referred. * Visit properties to assess them before showing them to clients. * Contact utility companies for service hookups to clients' property. * Conduct seminars and training sessions for sales agents in order to improve sales techniques. * Appraise properties to determine loan values. * Solicit and compile listings of available rental properties. * Secure construction or purchase financing with own firm or mortgage company. * Rent or lease properties on behalf of clients. * Locate and appraise undeveloped areas for building sites, based on evaluations of area market conditions. That's enough, don't you think? Special note: Pictured above and our headline photo is the newest of our Parler Paris Apartments and the subject of the latest House Hunter's International! Thanks to the relationships we have with the best Paris agents, we were the first to see this property and provided an opportunity for the buyer that she wouldn't have had otherwise! All property finders are not alike and charge different fees depending on their services. For more information about how we work to find you the property of your dream, visit French Property Consultation or email us at fpi@adrianleeds.com A bientôt,
(with Mimi Chiang, owner of apartment noted) Email: fpi@adrianleeds.com
P.P.S. Don't forget -- no French Property Insider next week...have a great Thanksgiving holiday!  See Adrian Leeds And French Property Consultation On House Hunters International!
Historic Country Homes in Normandy-- Episode HHINT-2411H AIR TIMES: December 11, 2011 7:30 p.m. EST/PST The Blairs want a drill in all things French and experience is the best teacher. But Franco-mania can produce life's sweetest pleasures and its worst misfortunes. Is the Blair's dream home hiding in the back roads of Europe's dairy land? Find out when House Hunters moves to Normandy, France with the help of professional real estate consultant Adrian Leeds.  France: The Owner’s Manual
France always makes sense! It is one of the most beautiful countries in the world, immersed in culture and tradition, with a good climate and unspoiled countryside, as well as excellent health care and affordable real estate. It’s not surprising that France is the world’s favorite destination, receiving in excess of 82 million overseas visitors each year. This edition is updated and edited by Adrian Leeds and Schuyler Hoffman. If you’ve ever aspired to living or investing in this beautiful and desirable country, France: The Owner’s Manual will provide you with all the information you need to turn your dreams into reality. Get Your Copy Today!  Transfer Currency and Save Money in the Process...with Moneycorp When you're buying a holiday home or investment property overseas, trading your currency can be a crucial cost factor. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group, LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France or anytime you transfer from one currency to another. For more information, visit: Moneycorp Converter  Book your FREE personal consultation with Adrian Leeds!
If you are a guest staying in any one of our luxurious Parler Paris Apartments, and would like to consider having your own "pied-à-terre" for your pleasure and profit, fill out our consultation request form for a free one-hour consultation while you're enjoying the apartment in the City of Light. Visit ParlerParisApartments.com to book your stay and for more information or email Adrian at adrian@adrianleeds.com. Helpful Conversions for Real Estate 1 square meter = 10.7639104 square feet 1 hectare = 2.4710538 acres For more conversions, refer to: www.onlineconversion.com/ Parler Parlor French-English Conversation Group Practice speaking French and English. Make friends, discuss interesting topics, learn about other cultures, progress in understanding and speaking, naturally and easily. Meets three times a week -- come as often as you like! For further details, visit Parler Parlor.
Copyright 2011, Adrian Leeds® |
Featuring
I was asked by one of our readers to comment on this commenter's 'rant and rave' in 
The is the reason that property finders such as ourselves even exist. In addition to what the agents do, we act to bring more properties to table by doing the 'legwork' of the search and knowing which agencies represent the best properties. We act to protect the buyer from making a purchase that doesn't suit him, by acting on behalf of the buyer's interests, not the seller's. Yes, property finders charge additional fees, but the small cost of the commission can make a huge difference in the quality of the property and the efficiency of the price, not to mention relief of much of the time-consuming and costly tasks and valuable advice which can ultimately save the buyer a fortune in the future (particularly regarding inheritance taxes and capital gains). Any foreign buyer knows that this protection is very valuable when managing a purchase from afar.
Adrian Leeds 
P.S. LAST MINUTE NEW YORK RENTAL OPPORTUNITY!: Stay in a charming and spacious studio apartment in the heart of the West Village in New York City from November 28th to December 4th for as little as $150 per night! The studio apartment is on the 6th floor of a 19th-century building with high ceilings and brick walls. The building is secure with Interphone and doorman, complete with two elevators, laundry room and a grocery store just across the street. The location could not be more ideal, only a few steps from two major subway stations (Christopher Street and West 4th street). From the large windows, there is a perfect view of the Empire State Building! For more details, visit 
Practice Your French...or English!