From Multiple Listings to One Spectacular Listing Just for You

In the U.S. there is the Multiple Listing Service (MLS) system that makes finding property “du gateau” (piece of cake). When you call ‘an agent’ in the U.S., you have access to every property on the market thanks to this system. The agents therefore assume they will be sharing their commission with another agent and in effect, work for the buyer rather than the seller. Agents don’t make ‘sales;’ they make clients — in the good ol’ fashioned American style of making the customer rather than the sale and thinking in the long term.

Not so in France. Every agency operates independently. Even among the chains such as Century 21 or ERA, each agency within the franchise is independent of the others. Each represents their own little group of properties — normally within a particular district or department — and the agents are loathe to give up any portion of their commissions. They represent the seller and they think only of ‘the sale,’ as for them, it’s a one-time transaction and they’ll never see the seller again, or at least, not for a long time.

As a buyer you have no clout whatsoever. Particularly for the foreign buyer who has special needs — lack of language, lack of knowledge of the system, lack of knowledge of the laws, etc. The agencies see a foreign buyer come in the door and immediately they think: “Oh brother, this one isn’t going to know a thing about what they want or how to go about making the right decisions. We’re going to waste a lot of time with the buyer and they may end up buying nothing!” And then they might have a change of heart when their second thought process tells them that “But, foreign buyers have a lot of money, so let’s get the highest price we can from them and we can tell them anything — they will believe us!”

This makes property finding in France a daunting and frightening experience…and it’s why consultants and property finders such as ourselves even exist.

Within the French system, there are chercheurs  or chasseurs (property finders) who are licensed by the state and legally share commissions with the agencies. As one can imagine, the agencies steer clear of them and offer them only their weakest properties — why would they want to share commissions with another agency on a property they can sell on their own? Therefore, the system they’ve put in place simply doesn’t work!

Lots of people have tried to create an MLS system here in France, but haven’t been successful. You can go online and find lots of Web sites that pool many agencies and many properties, but the agencies still remain independent and you still have to do the ‘leg work.’

Property Find
ers such as ourselves can carry with them lots of clout on behalf of the buyer. A good finder will not take commissions from the agencies and work exclusively for the buyer. If they charge for their service, then the buyer is qualified as viable and it eliminates the ‘tire kickers.’

This puts them at the top of the agencies’ lists of clients with real clout. When a good property is listed with an agency, before it is every advertised or posted in their windows, the agents contact their best resources — the property finders among them. This is the reason we can very often be the first to visit a property new to the market. In fact, most of our clients can claim to have been among the very first to have access to a property — no wonder sometimes the process can be so fast!

In one recent instance, during an initial consultation with new clients, while perusing the Web together to see what properties might be on the market, an email came in from one of our best agents describing a property he had just acquired. One hour later we were the first to visit the property. It was the second property our clients had visited. They agreed to purchase it within minutes of entering it — it was such a good property, with perfect views of several monuments in a great location with lots of renovation possibilities for maximum return on investment!

This can happen directly with sellers, too. Through our channels, sellers of a luxury apartment near Notre Dame on the Left Bank came to us in search of a buyer. The property is listed with agencies, but the agencies are slow to sell the apartment and so they have offered the property to us and our clients. We do not have the exclusive, but we do have the inside track and this particular apartment is like nothing we have ever seen before. It’s so spectacular that we are thrilled to be able to offer it to you.

Located on rue Lagrange in the 5th arrondissement, literally five doors from the Seine and Notre Dame (school zone “Henri IV” — one of the most famous and prestigious schools in Paris) and next to the Pantheon, the apartment is well placed between boulevard Saint-Germain and the Seine. Opposite the apartment and with views is the park adjacent to Église Saint-Julien-le-Pauvre where is enthroned the oldest tree in Paris. Built in the 12th-century by Cluniac monks on the foundations of a 6th-century church, the church is considered one of the most ancient religious monuments in the capital.

The apartment is on the first floor — with an elevator — with windows and views in all the rooms. It was completely renovated and redecorated within the past year to absolute perfection and only with the highest quality materials! It is described as “five-rooms” in 103 square meters (Loi Carrez 101.47m2, 1109 square feet) with separate entry vestibule, three bedrooms (one currently used as a study) two bathrooms — and all three front reception rooms flow into each other with separate access to a central corridor.  

There is brand new central heating in every room, all new plumbing and bathroom fittings and furnishings, built-in water filtration system, all original features including the original five marble fireplaces with five original mirrors above, new designer kitchen with the best of German and Italian appliances, all new double- glazed windows with original hardware (handles and locks), etc. — all the features of a Haussmannian building constructed in 1890 by the architect Paul Gennerat.

The renovation factor means it is “turn-key” — and because the new owners have the possibility of purchasing the furnishings from the sellers, new owners would have nothing to do except move right in to realize their Paris dream!

On the outside you’ll find:

* RER lines A and B with a lift down to the platforms from the street level (rue Xavier Privas) and direct connections to both airports 100 meters away
* Seine river and walk 50 meters away, park opposite with free Wi-fi.
* Traditional outdoor French gourmet food market at end of street in Place Maubert every Tuesday, Thursday and Saturday
* Erik Kayser “boulangerie” nearby plus family-run high quality “boulangerie” and “patisserie” opposite apartment

And on the inside, there is nothing missing:

* Internet and cable with free international phone calls connected.
* Brand new low energy use individual central heater and hot water system
* Very good energy rating on whole apartment with fantastic insulation against heat and cold year round
* South West facing with direct sunlight into all front rooms throughout the afternoon until evenings
* All plumbing and wiring new including new copper mains gas from outside and copper water pipe water main inlet (to meet future Marie de Paris guidelines)
* All surfaces, walls, ceilings and floors cleaned and repainted including external shutters
* All new double glazed timber framed windows (heritage area) in every room (except bathroom which is a new double glazed PVC frame) with original hardware preserved.
* 3.20 meter high ceilings throughout
* Designer kitchen by Teissa with extra high storage c
upboards, super large “iLve” brand italian cooker and oven, built-in Fridge and Freezer, extra large “Miele” 14 place ultra quiet (top of the range) dishwasher and French Corian bench tops with deep butler’s sink.
* New Métro/Subway tiling in kitchen and bathrooms with tiling full height to the ceilings in both bathrooms
* Filtered water system to kitchen, both bathrooms and laundry
* Ceramic insert stainless steel bathroom fixtures by “THG-Paris style Honfleur”
* Restored by artisan stained glass windows in entry foyer leading out to second service entrance and rear stairs.
* “Pierre Frey” custom made hand sewn silk curtains and roman blinds (“stores bandeau” also in Pierre Frey fabri
c) in all rooms (except bathroom)
* Three Murano chandeliers plus Murano wall sconce in entry.
* Five original working marble fireplaces in every room with gilded mirrors overtop
* Restored original 1890 central heating units in three sitting rooms (two sitting/3rd bedroom) plus modern central heater units in other rooms
* Extra large double height (2.8m high) built in wardrobe in master bedroom with pull-down racks
* Additional hall storage cupboard
* Situated on first of the middle class floors with easy access by sweeping staircase or lift.
* Grand Haussmannian building designed by Gennerat and constructed in 1890.
* After ground floor the first five floors have almost identical layout and ceiling heights with two flats only per floor. Roof levels have various former maid’s rooms
* No guardian (keeps the fees down) but former guardian’s flat can be used by owners for meetings or short term storage
* Mostly owner occupiers and no work already voted on or expected to be voted on. Annual meeting each April or May.

The asking price: 1.495.000€ with all appliances and fixtures included except for the washer/dryer. Finder’s Fee 3%. Notarial closing costs estimated at 7%. Mortgage of 80% Loan to Value possible.

For the kind of Paris living you can enjoy every single day and for the rest of your life, this apartment is A real deal and is THE real deal!

If you are seriously interested in learning more about the property, please contact us immediately at [email protected].

A bientôt,

Adrian Leeds
Editor, French Property Insider

Email: [email protected]

 

 

 

 P.S. Guess what!? A new House Hunters International episode is out! “Returning to Europe” Episode HHINT-4301H, airing October 8, 2012 at 10:30 PM e/p and 1:30 AM e/p:

Max was offered the job opportunity of a lifetime in Paris. The prospect of living in one of Europe’s most stylish and historic capitals was too much for Max and fashion and beauty journalist Susie to turn down. The hardest part of the move for the couple will be the language barrier as neither of them speaks French. Will this couple find their perfect Parisian paradise? Find out when House Hunters International explore the streets of Paris, France.

You can find more details at Adrian Leeds on House Hunters International